Bahri's purchase of Aramco's Vela fleet now needs to be paid through sukuk bond issue. Saudi Arabia's National Shipping Co's acquisition of Saudi Aramco's marine subsidiary placed it in debt.
Energy
Continental Resources' Hamms going to Divorce
Top executives of successful companies have their lives in the hands of their public, like Murdoch of News Corp and Hamm of Continental Resources.
BP Pays Back Shareholders US$8 Billion
BP, as promised, returns nearly US$8 billion to its investors through a share buy back program. British oil giant British Petroleum or BP Has announced that starting Friday, it would be conducting a buy back share program in consonance with its promise to reward shareholders after its sale of its interests in TNK-BP.
BP Gives $8 billion Back to Shareholders After TNK-BP Sale
BP is set to return $8 billion to investors using a share buy-back programme after it promised last October to offset any dilution to earnings per share from TNK-BP Sale.
Rosneft Chief Financier Steps Down After TNK-BP Deal
Dmitry Avdeyev, Rosneft's chief financier, steps down from the position after the Russian oil producer said that it had completed its acquisition of TNK-BP.
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Suntech would be the first Chinese company to default on unpaid bonds. Suntech Power Holding Co. Ltd. received a notice of default yesterday from its trustee handling their $541 million in bonds outstanding.
Rosetta purchases oil shale acreage from Comstock. Rosetta Resources Inc, the oil and natural gas producer, would be investing in Comstock Resources Inc's acreage located in West Texas Permian Basin.
Canada's largest pension fund eyes purchase of uranium enrichment firm. One of the world's biggest pension funds in the world, the Canada Pension Plan Investment Board, is interested in acquiring Urenco, the nuclear fuel production firm.
Ameren to sell merchant generation business to Dynegy. Ameren Corp, the American power company, will be selling off its merchant generation business to Dyegen Inc.
Alfa's share in the TNK-BP takeover by Rosneft to be reinvested. Alfa Group, the group that brokered the deal from the sale of the joint venture giant TNK-BP, is now discussing with former BP CEOs John Browne and Tony Hayward as to international oil venture projects.
CEO exit mulled as Sandridge strikes deal with TPG-Axon. SandRidge Energy Inc has forged a deal with hedge fund TPG-Axon Capital whose implication can lead to the exit of the company's chief executive officer.
Idemitsu gets management shakeup and plans future. The third largest refiner in Japan, Idemitsu Kosan Co is keenly interested in the acquisition of stakes in Canadian gas fields.
Directors hope to reap same success in Mozambique project. Three major executives that took part in the creation and sale of Cove Energy Plc have come together again to raise funds for an oil and gas exploration project in Mozambique.
E.ON still on its plan to divest non-performing assets. The largest utilities service provider in Germany E. ON has denied reports that it would spin off its renewable energy unit in order to reduce outstanding debt of in its balance sheet.
