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Rigzone.com: Finance and Investing News



The latest upstream oil and gas news from around the world.



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Russians Drop Texas Oil Bid, Averting Trump Security Review

Mon, 26 Jun 2017 00:00:00 GMT

LetterOne's L1 Energy unit recently walked away from a deal to buy Texas oil producer over concerns the plan could be rebuffed by the CFIUS.



Portugal Investigating Fraud Linked To Venezuela PDVSA Funds, PDVSA Says

Mon, 26 Jun 2017 00:00:00 GMT

Portugal is investigating alleged appropriation of funds belonging to Venezuelan state oil company PDVSA that were channeled through now-defunct Portuguese bank Banco Espirito Santo between 2009-2014.



Hellenic Petroleum Five-Month Pretax Profit At 246MM Euros

Fri, 23 Jun 2017 00:00:00 GMT

Greece's biggest oil refiner Hellenic Petroleum had a pretax profit of 246 million euros ($274.8 million).



Essar Oil's Creditors Approve $12.9B Rosneft Takeover

Fri, 23 Jun 2017 00:00:00 GMT

Creditor banks to India's Essar Oil approve the acquisition of the company by a group including Russia's Rosneft.



French Oil Services Firm CGG Files For Bankruptcy

Wed, 14 Jun 2017 00:00:00 GMT

CGG says it filed for bankruptcy in France and the United States as part of financial restructuring to reduce its debt burden.



Russia's Rosneft CEO Says Takeover Of India's Essar Is Closed

Thu, 22 Jun 2017 00:00:00 GMT

The takeover of India's Essar Oil by Russia's largest oil producer Rosneft can be now considered as closed.



Putin Asks Rosneft To Consider Paying 50% Of Net Profit In Dividend

Tue, 20 Jun 2017 00:00:00 GMT

Russian President Vladimir Putin has asked Igor Sechin, the head of Rosneft, to consider the possibility of paying 50% of net income in dividends.



Canada Oil, Gas Assets Beat US in Clash for Foreign Cash

Tue, 20 Jun 2017 00:00:00 GMT

As energy mergers and acquisitions activity in North America heats up, Canada's attitude toward foreign investors welcomes cash from China, other nations.



Maersk Will Only List Oil Business

Fri, 16 Jun 2017 00:00:00 GMT

Danish shipping and oil conglomerate A. P. Moller-Maersk aims to list its oil business soon but has dropped plans to list other smaller units separately, Danish newspaper Berlingske reports.



Dana Gas's Sukuk Holders Say Firm's Offer 'Repudiation' Of English Law

Thu, 15 Jun 2017 00:00:00 GMT

An ad hoc committee representing holders of $700 million of sukuk issued by Dana Gas says the company's decision to halt payments on the Islamic bonds is a 'repudiation' of English law.



Malaysia's Petronas Set To Auction Kimanis Crude On Dubai Exchange

Wed, 14 Jun 2017 00:00:00 GMT

Malaysia's Petronas is set to auction one of its crude grades on the Dubai Mercantile Exchange, according to sources familiar with the matter.



Abu Dhabi's Dana Gas Seeks Restructuring Of 'Unlawful' $700 MM Sukuk

Tue, 13 Jun 2017 00:00:00 GMT

Abu Dhabi's Dana Gas said it would propose restructuring $700 million of outstanding Islamic bonds to a committee of holders of the sukuk, which it said was not sharia-compliant.



Israel's Navitas Petroleum Plans Tel Aviv IPO

Tue, 13 Jun 2017 00:00:00 GMT

Israel's Navitas Petroleum plans to raise $130 million in bonds and carry out an initial public offering (IPO) on the Tel Aviv Stock Exchange.



Embattled Noble Receives Interest For Oil Business

Mon, 12 Jun 2017 00:00:00 GMT

Struggling commodity trader Noble Group Ltd has been approached by potential buyers for its oil business, the Financial Times newspaper reports.



Mexico Said to Take First Steps in Annual Oil Hedging Program

Fri, 09 Jun 2017 00:00:00 GMT

Mexico has taken the first step in its annual oil hedging program, asking Wall Street banks for price quotes on the put options it buys to lock in prices for the following year.



Savannah Looking to Acquire 'West African Focused Business'

Fri, 09 Jun 2017 00:00:00 GMT

Savannah Petroleum plc is entering into a binding exclusivity agreement with 'a West African focused business'.



Egypt Reduces Arrears Owed To Foreign Oil Companies To $2.3 Billion

Thu, 08 Jun 2017 00:00:00 GMT

Egypt reduces arrears owed to foreign oil companies to $2.3 billion, the Egyptian oil ministry says.