FREDRIKSEN BUING SEADRILL
Billionaire investor John Fredriksen is considering buying more shares in oil rig operator Seadrill after the stock's sharp fall this year, Norwegian business daily Finansavisen reported on Monday.
"Seadrill is the most important company in the John Fredriksen group," he told the paper." That's the company I will spend the most time and energy on in the time to come, and buying more shares is under consideration given the latest share price developments."
Seadrill, the world's biggest oil rig firm by market capitalisation, has struggled this year and its shares are down 26 percent since the start of the year, underperforming a 5 percent rise on the European oil and gas index.
With oil companies reining in capital spending and dozens of new deepwater rigs entering the market, charter rates have dropped by more than a third and drilling executives expect the market to remain difficult for another two years.
Board member Tor Olav Troeim on Friday announced his abrupt resignation from the Seadrill board, just weeks after quitting his job as an executive of a Fredriksen holding company. He's also leaving the boards of Archer and Marine Harvest.
Troeim had said on July 29 that he would remain on the board of Seadrill and several other companies controlled by Fredriksen and did not explain why he has now decided to leave.
Fredriksen, originally from Norway but now living in London with a Cypriot passport, controls a plethora of companies, including shipping firms Frontline and Golden Ocean and fish farmer Marine Harvest.
|September, 22, 09:20:00|
|September, 22, 09:15:00|
|September, 22, 09:10:00|
|September, 22, 09:05:00|
|September, 22, 09:00:00|
|September, 22, 08:55:00|
Instead, with the planned referendum just days away, Russian state oil giant Rosneft announced its latest investment last week, to help Iraqi Kurdistan develop its natural gas industry, for domestic supplies and eventual export.
Iran exported over 5 billion cubic meters (bcm) of natural gas during the first five months of the current Iranian calendar year (March 21-August 22), Dispatching director of National Iranian Gas Company (NIGC) announced.
Gazprom Neft has shipped its second and largest cargo of Iraqi crude to the US since the Badra field, its flagship overseas oil project, came on stream in 2014, the Russian oil company said Tuesday.
Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years