Angola is in talks with some of its oil customers in a bid to restructure financing facilities, the Ministry of Finance has said, in order to “better reflect the current market environment and OPEC production quotas”.
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Oilfield services giant Weatherford International has announced further backing from lenders for financial restructuring plans aimed at significantly reducing its colossal debt pile.
The energy regulator Ofgem has urged suppliers to help customers before they get themselves into unmanageable levels of debt.
Premier Oil said its lending group has agreed to a further deferral of the test of the company's financial covenants.
Seadrill has confirmed the issuance of new shares of its common stock.
Petroceltic International has acquired most of Worldview's debt in a bid to move towards a financial restructuring.
EnQuest has reportedly drafted in help to manage its debt portfolio as it battles a depressed oil price environment.
Oil major Shell and the National Iranian Oil Company (NIOC) have reached a final deal on how the Anglo-Dutch company must clear its debt of $2.3billion outstanding since 2011. The head of the NIOCs international affairs, Mohsen Qamsari, said the two sides had reached an agreement on a mechanism after several round of negotiations.
Abu Dhabi National Energy Co., the government-owned oil and gas producer, hired investment and advisory firm Blackstone Group LP to review options for its debt obligations, two people with knowledge of the matter said.
SBM Offshore has completed $450million of non-recourse senior debt secured through a US Private Placement (USPP) for the Deep Panuke Production Field Centre (PFC). The company said the 3.5% fixed coupon bond is rated BBB -/ BBB (low) by Fitch and DBRS, and carries a seven year maturity. In a statement the company said offering was oversubscribed, with 14 institutional investors participating.