January, 2018

• 22 January

  Top Indian oil explorer plans to raise $5.48bn to buy HPCL

  

  Bloomberg India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp. Oil & Natural Gas Corp’s board has approved raising as much as 350 billion rupees in loans to buy the government’s 51.1 percent stake in HPCL, Chairman Shashi Shanker said in New Delhi. That ...

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• 22 January

  Iraq, Orion sign deal on natural gas processing

  

  BAGHDAD / Reuters Iraq agreed a deal with US energy company Orion on Monday to process natural gas extracted at its giant Nahr Bin Omar oilfield. The memorandum of understanding, signed in Baghdad by representatives of the oil ministry and the US company, will allow Orion Gas Processors to build facilities to capture the gas from the field located in ...

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• 22 January

  Libyans ditch dollars as crude recovery offers economic relief

  Bloomberg Libya’s powerful black market traders are encountering an unfamiliar sight: people showing up with bundles of dollars for sale. Rising oil prices have relieved financial pressure on Libya, allowing authorities to channel more dollars to importers since the start of the year. Meanwhile, the central bank has eased restrictions on currency transfers that had made the black market the ...

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• 22 January

  Oil holds near $69 as nations say output cuts will continue

  

  Bloomberg Brent crude steadied after Saudi Arabia and Russia pledged to continue supply cuts. Futures rose as much as 0.5 percent in London before paring those gains. Output limits should remain through 2018 as rebalancing may be achieved next year, Saudi Arabia’s Energy Minister Khalid Al-Falih said in a Bloomberg television interview held with his Russian counterpart. Russia is prepared ...

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• 22 January

  Biggest US east coast oil refinery files for bankruptcy

  

  Bloomberg Philadelphia Energy Solutions LLC, owner of the largest oil refinery serving the New York Harbor gasoline and diesel market, filed for Chapter 11 bankruptcy protection. The company, a joint-venture between The Carlyle Group LP and a subsidiary of Energy Transfer Partners LP, filed a petition in US Bankruptcy Court in Delaware. Chief Executive Greg Gatta said in a memo ...

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• 22 January

  Saudi seeks proposals to refinance $10bn loan

  DUBAI / Reuters Saudi Arabia has asked banks for proposals to refinance its $10 billion international syndicated loan and to help the sovereign raise funds through other means, the country’s debt management office said. In addition to the req- uest for proposals (RFP) on the loan refinancing, the government has issued RFPs covering further US dol- lar debt capital market ...

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• 22 January

  Sanofi buys US haemophilia drugmaker for $11.6 billion

  

  Bloomberg Sanofi SA agreed to buy Bioverativ Inc., a spinoff from biotech giant Biogen Inc., for about $11.6 billion in a bid by France’s biggest drugmaker to gain treatments for rare blood disorders. The deal values haemophilia drugmaker Bioverativ at $105 a share, according to a statement from Sanofi. Sanofi shares fell 2.6 percent to 71.05 euros at 9:18 am ...

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• 22 January

  FX traders do $100mn deals on mobile as market transforms

  

  Bloomberg For the modern foreign-exchange trader, it’s now possible to find a date, hail a cab and trade $100 million—all through their mobile phone. The world’s biggest financial market is embracing the iPhone era as investors find new ways to work when they’re not on the trading floor. In a JPMorgan Chase & Co. survey of more than 400 institutional ...

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• 22 January

  ‘No-deal Brexit could cause finance chaos’

  

  Bloomberg Financial markets in Britain and the EU will face instability and significant business disruption if the UK exits the EU in March 2019 without a transition deal or final settlement on a number of crucial issues, a finance industry trade group warned. There are at least five key areas where financial firms need clarity from UK and EU policymakers ...

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• 22 January

  Carillion collapse prompts rules on UK corporate recklessness

  

  Bloomberg UK Prime Minister Theresa May set out a plan to defend capitalism from capitalists, after the collapse last week of construction company Carillion Plc put at risk public-sector projects from roads to hospitals. In an article for the Observer newspaper, May pledged new rules to deal with executives “who try to line their own pockets by putting their workers’ ...

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