Marine Link US-based financial services company HC2 Holdings and the Dutch multinational provider of geo-intelligence Fugro have sold offshore engineering specialist Global Marine Group (GMG) to private equity firm J.F. Lehman & Company for a sum of USD 250 million. HC2 holds 73% of Global Marine Group’s shares, while Fugro holds 23.6% of the shares. Through its ownership of 23.6%
MarineLink New York-headquartered product tanker company International Seaways has closed on senior secured credit facilities worth a total of USD 390 million. The crude oil and petroleum product tanker company said that the facilities consists of a 5-year USD 300 million senior secured term loan facility, a 5-year USD 40 million revolving credit facility, of which USD 20 million has
Arab News KUWAIT CITY: Saudi Arabia and Kuwait have started preparation work to resume crude oil production from the Al-Khafji oil field jointly operated by the two countries, with initial output expected around the end of February, two industry sources said. Saudi Arabia and Kuwait, both members of the Organization of the Petroleum Exporting Countries (OPEC), agreed last year to end
The Middletown Press “ISO-New England estimates that some 7,000 megawatts of electricity from higher-polluting coal- and oil-fired plants will be retired in the near future – creating a need for [NTE’s] cleaner, more efficient power,” Eves said. “To halt the Killingly project at this point would compromise power supply and reliability not just for the state of Connecticut but the entire
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The Arab Weekly Once fuel assemblies are loaded into the reactor, Nawah will begin the start-up sequence for testing. Barakah will be the United Arab Emirates’ first nuclear plant and the world’s largest when completed, with four reactors and 5,600 megawatts of electrical generation capacity. It is being built by Korea Electric Power Corporation. Oil and Gas Publishers Note: The
