Abu Dhabi National Energy Co., the government-owned oil and gas producer, hired investment and advisory firm Blackstone Group LP to review options for its debt obligations, two people with knowledge of the matter said.
The 2012 restructuring also involved DDW bringing in a Singaporean partner for its troublesome business in Indonesia. Borrowing to set up an operation in South East Asia before the financial crisis of 2009 was the main reason DDW was forced to seek a deal with creditors back then.
Global maritime regulators have found no evidence of price fixing in freight rates among the biggest players in container shipping, a top U.S. official said following a meeting that came as cargo shipping prices on some of the world’s busiest trade routes collapsed for the second straight week.
The first Maritime Standard Ship Finance & Trade Conference, organised by The Maritime Standard (TMS), will take place this year on 29-30 November at Park Hyatt Hotel in Abu Dhabi. The event, which is endorsed by Federal Transport Authority – Land & Maritime UAE, and being hosted by Abu Dhabi Ports, will feature top level speakers from the worlds of finance, banking, ports, shipping and maritime law.
GE Oil & Gas won two contracts from Petroleum Development Oman (PDO) for the supply, testing, installation and commissioning of a fleet of electric motor driven centrifugal compressors, a report said.
The fleet will be deployed across PDO's Saih Nihayda Depletion Compression Phase II, Kawther Depletion Compression Phase II, Yibal Khuff Depletion, Burhaan West and Fahud Gaslift Compression projects, added the dayofdubai.com report.
Even with low prices, oil and gas sector will generate much needed cash to fund other infrastructure projects.
Saudi Aramco , the kingdom's state oil giant, is seeking to borrow $4.7 billion from banks to refinance capital used to build a refinery in collaboration with China's Sinopec , three sources with knowledge of the matter said on Tuesday.