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.

2014-09-10 18:15:00

KVAERNER NEEDS CHANGES

KVAERNER NEEDS CHANGES

Norwegian oil services firm Kvaerner, which has struggled with high costs and the loss of contracts to cheaper Asian rivals, may seek partners and could see a change in its ownership structure, it said on Wednesday.

Kvaerner, which builds large structures such as platforms for the offshore oil and gas industry, said it had hired an adviser to evaluate strategic options, which could include significantly altering its strategy, business model or ownership, it said in a statement to the Oslo bourse.

"To take the next step to ensure Kvaerner's long term growth and global competitiveness, we will consider further improvement initiatives, new industrial partnerships or changes to ownership structures, as well as a further streamlining of the products and services offered," Chairman Leif-Arne Langoey said.

After losing a series of major contracts in recent years due to high costs and facing idle time at a key yard, Kvaerner streamlined its Norwegian operations and managed to win in June an important contract from Statoil for platform jackets at the Johan Sverdrup field.

Analysts then said the contract gave the firm some time to rethink its strategy and changes could include partnering with Asian firms and moving some operations from Norway, one of the most expensive countries for the sector.

The firm's biggest shareholder with more than 40 percent is Aker Kvaerner Holding, a venture majority owned by Aker ASA , with the Norwegian government holding a minority stake.

Kvaerner said it had retained Greenhill & Co. International LLP to advise on evaluating all strategic alternatives.

Any major change in the ownership structure would require approval from two-thirds of shareholders.

reuters.com

Tags: AKER, KVAERNER, OIL, STATOIL, NORWAY

Chronicle:

KVAERNER NEEDS CHANGES
2018, October, 22, 11:55:00

RUSSIA - EXXON: NEW PROJECTS

BLOOMBERG - Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country.

KVAERNER NEEDS CHANGES
2018, October, 22, 11:50:00

IMF HAS UKRAINE FOR $3.9 BLN

IMF - The agreement reached today reflects the IMF’s commitment to continue to help Ukraine achieve stronger, sustainable, and inclusive economic growth. The new program has been developed in close coordination with the World Bank and the European Union, who have parallel operations to support Ukraine. The authorities’ steadfast and effective implementation will be critical for the program to achieve its objectives.

KVAERNER NEEDS CHANGES
2018, October, 22, 11:45:00

UKRAINE'S GAS PRICES UP 23.5%

CNBC - Ukraine announced on Friday it would raise household gas prices by nearly a quarter as Prime Minister Volodymyr Groysman warned that the country risked default if it crashed out of its International Monetary Fund aid program.

KVAERNER NEEDS CHANGES
2018, October, 22, 11:40:00

SCHLUMBERGER NET INCOME $644 MLN

Schlumberger Announces Third-Quarter 2018 Results Revenue of $8.5 billion increased 2% sequentially Pretax operating income of $1.2 billion increased 5% sequentially EPS was $0.46 Cash flow from operations was $1.8 billion Free cash flow was $1.0 billion

All Publications »