Oil and gas company GMX Resources Inc said it will raise $100 million via a public offering of common shares and $200 million through a private placement of senior notes, sending its shares down 10 percent.
[Read more]
Source: Reuters
Top man at Wärtsilä announces his retirement
Wärtsilä Corporation has announced that its president and CEO, Ole Johansson, has decided to retire after reaching 60 years of age in June 2011.[Read More]
Source: Motorship
El Paso Stays on Course with 2011 Pipeline and Production Growth Plans
El Paso EP set another year of growth goals for its exploration and production and pipeline units, with plans to invest $3.2 billion in 2011. Much of the firm's 2011 plans will continue with projects that were set in motion in 2010, warranting no changes to our model assumptions. However, we're encouraged by the firm's commitment to develop both its pipeline and E&P unit, while initiating development plans for its recently formed midstream joint venture with Kohlberg Kravis Roberts & Co. KKR. El Paso remains supportive of its MLP, El Paso Pipeline Partners EPB, with plans for two to three asset dropdowns this year, and to use dropdown proceeds for more debt reduction.[Read more]
Source: Morning Star
New LPG engine from MAN
MAN Diesel & Turbo has introduced its Liquid ME-GI (liquid gas injection) engine which is powered by LPG (liquid petroleum gas), a smaller market than LNG but of significance in certain segments of the industry.[Read More]
Source: Motorship
Ferry KMP Lautan Teduh II burned, killed 19 people.
Ferry KMP Lautan Teduh II burned in the Sunda Strait, Sumatra, killed 19 people.A total of 434 passenger ferry KMP Lautan Teduh II, which burned in the Sunda Strait , Sumatra, Indonesia, successfully evacuated, but 19 people of whom died, largely because of plunging into the sea.
[Read More]
Source: Allvoices
Egdon acquires interests in UK petroleum licences
Hampshire-based oil and gas exploration company Egdon Resources is to acquire 50 per cent of two onshore UK petroleum exploration and development licences (PEDLs) from Oslo-based Valhalla Oil and Gas.
In turn it will pay Valhalla part of the profit from any revenues, after costs. The value of the deal was not disclosed.
[Read more]
Source: Insider Media Limited
In turn it will pay Valhalla part of the profit from any revenues, after costs. The value of the deal was not disclosed.
[Read more]
Source: Insider Media Limited
Shippers angry over 'silly' security demands from carriers
THE Shippers' Voice, an online forum for shippers, has lashed out at a move by container shipping lines who demand advanced freight information five days ahead of loading rather accepting the 24-hour advance rule set by the EU.
[Read More]
Source: Shipping Online
[Read More]
Source: Shipping Online
Exxon Mobil drills world's longest well off eastern Russia
The horizontal well is part of the big Sakhalin-1 oil and natural gas project.
[Read more]
Source: Star-Telegram
Shell’s Voser Looks to Rosneft for Exploration Deal
Peter Voser, chief executive officer of Royal Dutch Shell Plc, said he’s looking at a partnership with Russia’s state-owned OAO Rosneft to hunt for oil reserves.“We are talking about potentially exploration” together, Voser said today in a Bloomberg Television interview in Davos, Switzerland. “Partnership with national oil companies is part of our business model. This is the way to go, we are driving this, and we’re quite happy to have these relationships.”
[Read more]
Source: Bloomberg
Indian Navy destroys pirate mother ship, arrests pirates
Whilst the Coast Guard and Navy Dorniers tracked Prantalay, the pirate ship, Indian Naval Ship Cankarso, a recently commissioned Water Jet Fast Attack Craft was directed to intercept and investigate the ship.[Read More]
Source: The Hindu
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