SYDENY: Cooper Energy has announced a 10 well appraisal program by the PEL 92 joint venture commenced with the spudding of Callawonga-22 on November 5, 2019. Callawonga-22 is the firstof4appraisal wells to be drilled at the Callawongaoil field, to be followed by 4 wells at the Butlers oil field and 2 wells at the Rincon…
South32 sells interest in South Africa Energy Coal
PERTH: South32 Limited has entered into a binding conditional agreement for the sale of 91.835% shareholding in South32 SA Coal Holdings Proprietary Limited (South Africa Energy Coal, SAEC) to a wholly-owned subsidiary of Seriti Resources Holdings Proprietary Limited (Seriti) and two trusts which will acquire and hold equity on behalf of employees and communities. Subject…
Solstad enters new contract with Equinor
SKUDENESHAVN: Solstad Offshore ASA has entered into a new contract with Equinor for the hire of anchor handling vessel (AHTS) Normand Ferking. The duration of the contract is 1 year firm, and in addition Equinor has the option to extend with further 2x 1 year. Commencement is in direct continuation of current charter, thus the…
QIIB begins pre-Sukuk launch business tour
DOHA: Qatar International Islamic Bank has begun a business tour involving a series of meetings with investors in several countries, as the bank plans to issue a USD denominated Sukuk. Qatar International Islamic Bank (QIIB), appointed Standard Chartered Bank as Sole Structuring Advisor, QNB Capital and Standard Chartered Bank as Joint Global Coordinators, and Barwa…
AM Best revises rating outlook to negative for the Order of United Commercial Travelers of America
OLDWICK: AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating of B (Fair) and the Long-Term ICR of “bb+” of The Order of United Commercial Travelers of America (UCT). The outlook of the FSR remains stable. The Credit Ratings reflect…
S&P downgrades APC Automotive Technologies to ‘CC’ on exchange offering; outlook negative
NEW YORK: S&P Global Ratings has lowered the issuer credit rating to ‘CC’ from ‘CCC’ on APC Automotive Technologies Intermediate Holdings LLC (APC), and the issue-level rating on the first-lien term loan due 2024 to ‘CC’ from ‘CCC’ to reflect its view that this transaction, if completed, results in investors receiving less than the original…
Mothercare UK announces measures to being a cash generative and profitable business in FY21
LONDON: Mothercare UK Limited (Mothercare UK) and Mothercare Business Services Limited (MBS) have announced further steps in the restructuring of the Group to return to being a sustainable and profitable business. Mothercare plc earlier on 5 November 2019 had announced appointment of Zelf Hussain, Toby Banfield, and David Baxendale of PricewaterhouseCoopers LLP as administrators to…
Japan to launch a special training programme for Pakistan
ISLAMABAD: Japan, which is already undertaking various training programs in the energy sector of Pakistan for emerging energy and LNG markets, will soon a training program specifically designed for Pakistan. Kuninori Matsuda, the Ambassador of Japan to Pakistan along with Ryo Minami, Director General, Agency for Natural Resources and Energy, Japan called on the Special…
Pakistan launches official startup portal to encourage technology innovation
ISLAMABAD: Pakistan’s corporate sector regulator has launched an exclusive startup portal to encourage technology innovation in the country during the ‘Startup Grind Pakistan’ conference in Islamabad. The portal features list of startups, simplified user experience for registration, access to mentors and incubation centres, online guides and video tutorials for Startup companies. Science and technology is…
BW LPG enters agreement to sell two Large Gas Carriers
SINGAPORE: BW LPG Limited has entered into a Memorandum of Agreement (MOA) to sell the remaining two Large Gas Carriers (LGCs) in the fleet BW Nantes and BW Nice, both built in 2003 and with a carrying capacity of 59,400 cbm each, will be delivered within Q1 2020. The sale is expected to generate approximately…
Visa launches suite of security capabilities to prevent and disrupt payment fraud
BARCELONA, SPAIN:Visa has launched a suite of innovative security capabilities to help prevent and disrupt payment fraud, breaking new ground in cyber security and fraud prevention across Central & Eastern Europe, Middle East and Africa (CEMEA) at the Visa CEMEA Security Summit 2019 in Barcelona, Spain, a press release said. The forum brings together payment…
AFC Energy unveils branding of inaugural technology platforms
SURREY, UK: AFC Energy has unveiled the branding of its inaugural range of product lines. AFC Energy is a UK based leading provider of hydrogen power generation technologies. In recent years, AFC Energy’s alkaline fuel cell technology has become synonymous with low cost, high efficiency, and fuel tolerant hydrogen power generators following a redesign and…