Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2015-09-29 20:45:00

THE NEW RUSSIAN EMPIRE - 7

THE NEW RUSSIAN EMPIRE - 7

Russian billionaire Mikhail Fridman's LetterOne fund has asked Britain to delay an October deadline to sell its North Sea assets after a first round of offers disappointed, several sources said.

The British Energy Ministry in April gave Fridman six months to dispose of oil and gas fields LetterOne had acquired from German utility RWE or see the their licences revoked as the West tightened sanctions against Moscow over its role in Ukraine.

The sale process, which is advised by Morgan Stanley, has attracted interest from several buyers, including private equity funds which have built up resources over the past year for acquisitions in the sector, banking sources said.

The offers, which were submitted in July, nevertheless fell far short of LetterOne's target price of up to $1.2 billion, with the highest offers coming in at around $750 million, according to several sources close to the process.

The fund hopes to be able to re-tender the assets later this year. The current deadline expires on Oct. 20.

"LetterOne are talking to the UK government trying to defer the process and get more time in the hope of getting a better price," a banking source said.

The North Sea assets comprise of 11 oil and gas fields, including a 70 percent stake in the Breagh field which produces 3 percent of Britain's annual gas output.

LetterOne would not comment.

The Department for Energy and Climate Change told Reuters there was no change in its Oct. 20 deadline.

Many oil and gas companies have been trying to sell assets in the North Sea to boost their balannce sheets following the more than halving of oil prices since June 2014.

The merger and acquisition market has only seen a relatively small number of transactions as oil price volatility has kept buyer and seller valuations apart, according to bankers.

Consultancy 1Derrick said last month that so far this year there have been 20 transaction in the UK North Sea, including Total's sale of its 20 percent stake in the Laggan Tormore project for 565 million pounds.

reuters.com

-----

More: 

THE NEW RUSSIAN EMPIRE – 6 

THE NEW RUSSIAN EMPIRE – 5 

THE NEW RUSSIAN EMPIRE - 4 

THE NEW RUSSIAN EMPIRE - 3 

THE NEW RUSSIAN EMPIRE - 2 

THE NEW RUSSIAN EMPIRE 

NEW RUSSIAN EMPIRE

 

Tags: LETTERONE, BRITAIN, OIL, GAS

Chronicle:

THE NEW RUSSIAN EMPIRE - 7
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

THE NEW RUSSIAN EMPIRE - 7
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

THE NEW RUSSIAN EMPIRE - 7
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

THE NEW RUSSIAN EMPIRE - 7
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

All Publications »