Adnoc has set out plans to issue bonds via a new wholly owned subsidiary, as it continues working to raise capital.
New Kistos acquisition, Tulip Oil Netherlands (TON), has taken steps to target its short-term debt.
Noble Group Ltd.’s crisis deepened after S&P Global Ratings flagged a risk of default for the commodity trader within a year, triggering a rout in the company’s already-battered shares, an exchange query, and a trading halt before an announcement. Its 2020 bonds plunged to a record.
Oil prices will remain under pressure in the near term as Iran seeks to boost crude shipments, said Meg McClellan, global head of consultant and client strategies at JPMorgan Asset Management.
Swedish oil explorer PA Resources has had its application for corporate reorganisation approved. The company had previously announced that it would be making the move after summoning a new bondholders meeting earlier this week. PA Resources said a further request was made for deferral of interest in respect of payments until the end of April.
Shares and bonds in Norwegian Energy Company (Noreco) have been suspended after a request by the company. Company stocks had plunged to a near record low last month after writedowns on two of its oil fields exceeded earlier estimates.