DNO, a Norwegian oil and gas company with strong Iraqi assets, said Friday it made a $300 million bid for Gulf Keystone Petroleum, which is restructuring debt. DNO said it was offering 40 percent of the full offer in cash, which it said would give investors in Gulf Keystone Petroleum ... Read More »
The municipality of Wood Buffalo said it was getting a support package from the provincial government of Alberta two months after fires shut in oil production. The provincial government said it was extending around $65 million to help the municipality recover from wildfires that scorched the region for most of ... Read More »
After a dismal earnings report, Norwegian energy company Statoil said it secured a stake in an oil basin off the coast of Brazil from the nation’s oil company. “Through this acquisition, we are accessing a world class asset, and we strengthen our position in Brazil, one of Statoil’s core areas ... Read More »
While swinging to a loss in its quarterly report, Italian energy company Eni said it was moving more controls to its chief executive to retool risk structures. The company reported its second quarter loss widened to $494 million in part because energy prices remain under pressure from a market characterized ... Read More »
– A report calling for European scrutiny over a pipeline slated to run through southern Europe is riddled with inaccuracies, a gas pipeline consortium said. A report this week from the non-governmental organizations Re: Common and Counter Balance called on European financial organizations to avoid writing blank checks to the ... Read More »
Amazon.com posted record second-quarter earnings Thursday of $857 million, or $1.78 per share, on $30.4 billion in revenue, surpassing early profit estimates of $1.2 per share on $29.5 billion in revenue. The company said the earnings report was boosted by record sales on the second Prime Day, the “biggest day ... Read More »
Estimated quarterly earnings for Exxon Mobil Corp. were down about 60 percent from last year, the company said, pointing to sharply lower energy prices. Exxon reported second quarter earnings at $1.7 billion, compared with $4.2 billion during the same quarter for 2015. “While our financial results reflect a volatile industry ... Read More »
A low estimate of U.S. gross domestic product and steep losses from some of the world’s biggest energy companies sent crude oil prices down early Friday. U.S. supermajor Chevron Corp. reported a loss of $1.5 billion, its third quarterly loss. “The second quarter results reflected lower oil prices and our ... Read More »
St. Lucia’s government has signed an agreement to build the island’s first internationally targeted, integrated development — a project worth $2.6 billion designed to attract Chinese tourists and investment. The Pearl of the Caribbean will occupy a 700-acre site on the south end of the island. Plans include a casino, ... Read More »
Tesla Motors Inc. is considering the possibility it’s “crash prevention” system failed in a fatal crash of a Model S, not its autopilot system. The company told Senate investigators the crash involved the vehicle’s automatic braking system, which may have detected the truck that the car was about to hit, ... Read More »
For $96 million, and following a weak earnings report, Norwegian energy company Statoil said it was getting rid of some of its gas assets in the United States. The Norwegian company holds about 350,000 net acres of the Marcellus shale natural gas basin, but decided to sell off about 11,500 ... Read More »
At a time when getting funding has become harder more than ever, it’s only a wonder if they do more than that. To everyone’s surprise, raising a funding of 112 Cr in the Series B is the Bengaluru-based technology-enabled chain, Treebo Hotels. The round was led by Bertelsmann India Investments (BII), the strategic ... Read More »
