Finance News

GIEK (The Norwegian Export Credit Guarantee Agency) has quadrupled its offshore wind portfolio to NOK 4.2bn (USD 453m) since the tail end of last year. With ample capacity and competitive rates, it is actively seeking new business worldwide as part of its mandate to bolster the participation of Norwegian exporters in a burgeoning but capital-intensive sector.   

The UK upstream oil and gas sector has become leaner and more resilient over recent years, as pullbacks in investment and reduced operating costs has helped provide a stronger cash flow outlook under newly weakened oil and gas prices, says GlobalData, a leading data and analytics company. 

Hit by the second industry downturn in five years, global awards for floating production, storage and offloading (FPSO) vessels will likely be limited to a single unit in 2020, Rystad Energy believes, as exploration and production firms slash budgets and activity.

Chevron Corporation (NYSE: CVX) announced on July 20, that it has entered into a definitive agreement with Noble Energy, Inc. (NASDAQ: NBL) to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share.

S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, is announcing the launch of a new benchmark for US crude oil, Platts American GulfCoast Select (AGS) from June 26.

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