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finance

Other News

Former Russian finance minister in talks of return to help economy

Former Russian Finance Minister and investor favorite Alexei Kudrin is in talks with Vladimir Putin and other top officials about returning to a senior post to help deal with worsening economic troubles, according to three people familiar with the discussions. Kudrin has met privately with the Russian president and Prime Minister Dmitry Medvedev as recently as last week to discuss the plans, though no formal offer has yet been made, the people said. The talks are the most advanced since Kudrin, widely respected by investors for his fiscal discipline and commitment to market reforms, quit as finance minister in 2011, the people said. A decision could come early next year, they said.

Oil & Gas

In hunt for missing billions, Buhari targets Nigeria Oil Company

As oil minister during military rule in the 1970s, Muhammadu Buhari oversaw the birth of the Nigerian National Petroleum Corp. Now, as democratically elected president, he intends to break up the opaque bureaucracy, which manages the oil assets of Africa’s biggest crude producer, to ensure taxpayers get their fair share. History isn’t on his side. “No Nigerian leader, including Buhari himself from the 1980s, has managed to sanitize the oil sector,” said Philippe de Pontet, head of the Africa practice at the Eurasia Group in New York. “Buhari’s challenge is not only to depoliticize NNPC but to disentangle its vested interests and its rogue commercial operations, which won’t be easy.”

People

GDF Suez appoints new finance officer

GDF Suez has revealed it has appointed a new finance chief as it plans asset sales of up to $3.6billion within the next few years. Judith Hartmann, the former chief financial officer at publishing firm Bertelsmann, will take up the role.

Oil & Gas

Seadrill acquires new vessel

Seadrill has taken ownership of an ultra deepwater drillship in a $456million deal with Ship Finance. The West Polaris was acquired by Ship Finance in 2008 and chartered to Seadrill with purchase options commencing in 2012.