KARACHI: Engro Elengy Terminal has achieved yet another milestone of the world’s fastest 250 ship-to-ship transfers of LNG. The Engro Elengy Terminal was a fast-track LNG import solution built to alleviate the energy shortage facing the country. With round-the-clock supply of natural gas at a utilization rate of approximately 98%, the terminal has now handled…
Straits Trading appoints Eric Teng as CEO of Straits Developments
SINGAPORE: The Straits Trading Company Limited announced the appointment of Eric Tengas CEO of Straits Developments Private Limited, a wholly-owned subsidiary of the Group. His appointment will be effective from October 01, 2019. As CEO of Straits Developments, Teng will be responsible for the property business of the Group except for those owned, operated or…
Rosenblatt Group acquires Convex Capital Limited for £22 million
LONDON: Rosenblatt Group plc, the professional services group, has announced the acquisition of Convex Capital Limited, a specialist sell-side M&A corporate finance boutique, based in Manchester, UK. The total consideration for the acquisition, assuming all earn-out and deferred consideration payments are made, is £22 million. The acquisition is in line with the Group’s M&A strategy….
Eco Atlantic makes a second oil discovery offshore Guyana
TORONTO: Eco (Atlantic) Oil & Gas Ltd. has announced second oil discovery on the Orinduik Block, offshore Guyana. The Joe-1 exploration well was drilled by the Stena Forth drillship to a final depth of 7,176 feet (2,175 meters) in approximately 2,546 feet (780 meters) of water. Evaluation of MWD, wireline logging and sampling of the…
SolGold reports helicopter accident in Ecuador
LONDON: SolGold Plc reports that a contracted helicopter operated by AVIOANDES S.A. conducting operations for SolGold on one of SolGold’s regional exploration concessions was involved in an accident Sunday morning, north of the town Salinas, in Imbabura Province of Northern Ecuador, resulting in the death of the pilot and a contractor technician. “The Board, management…
Vaalco Energy intends to list on the main market of the London Stock Exchange
HOUSTON: VAALCO Energy, an independent energy company focused on development and production assets in West Africa, announced its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange (LSE), to complement its existing Listing on the New York Stock Exchange. Cary Bounds, VAALCO’s Chief Executive Officer commented: “Since 2017, our…
Winchester MD plants 230,000 hemp plants in Spain
LONDON: Winchester MD Limited with its JV partner has planted 230,000 hemp plants in June at its 20 Hectare cultivation facility using high quality EU certified seeds. Since this time Winchester has successfully recruited and trained a 50 strong local workforce; implemented a bespoke irrigation system to support the cultivation and constructed and commissioned a…
BTG Advisory appoints four new partners to its London office
LONDON: BTG Advisory, the boutique advisory arm of Begbies Traynor Group that provides commercial, strategic and partner-led advice to companies, investors, lenders and other stakeholders, announced the appointment of four new partners to its London Canary Wharf office, as the advisory firm delivers on its growth ambitions and expands its corporate finance offering to meet…
Ocean Outdoor Limited acquires Visual to strengthen European digital platform
LONDON: Ocean Outdoor Limited has acquired Visual Art, a Sweden based independent, pure-play digital, out-of-home media and tech group operating in three Nordic countries and Germany. The deal is structured as two simultaneous transactions in which Ocean acquires the out-of-home assets of Visual Art (Visual Art Media) for a total consideration of approximately €63 million…
Senvion enters agreement with Siemens Gamesa for sale of services and onshore assets in Europe
HAMBURG: Senvion Holding has entered into an exclusivity agreement with Siemens Gamesa to pursue negotiations for the sale of selected services and onshore assets in Europe. The agreement was approved unanimously by Senvion’s creditors’ committee. The approval of the insolvency plans by the creditors’ assembly on 11 September enabled this transaction. The parties are now…
Pakistan in deep political and financial crisis; Shabbar Zaidi to go soon
KARACHI: Pakistan has not been able to get out of the Financial Action Task Force (FATF) grey list; it is hardly avoiding the blacklisting, while on the internal front, Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi is likely to step down from his current office by the end of this month, Customnews.pk reported…
BASF unfolds solutions for quality poultry feed in Pakistan
KARACHI: BASF presented a broad range of animal nutrition products and solutions to help the poultry industry innovate and produce the best quality feed, at the International Poultry Expo 2019 on Friday. Feeding more animals for the growing meat, milk and egg demand while saving the environment is the key challenge for the feed industry…