Sonangol takes loss but presses ahead with IPO plans
Sonangol intends to go ahead with an IPO in the coming years, although the company did report a $3 billion net loss for 2020.
IPO
NNPC auditor repeats going concern worries, despite 2020 profit
Nigerian National Petroleum Corp. (NNPC) reported a profit for 2020, but there are challenges ahead.
Helmerich & Payne lines up for Adnoc Drilling stake
Helmerich & Payne (H&P) will buy into Adnoc Drilling’s upcoming IPO, with the Abu Dhabi company buying eight land rigs from the US company.
Nigerian oil giant considers IPO after first profit in 44 years
Nigeria’s state oil company is considering an initial share sale after posting the first profit in its 44-year existence.
UAE oil producer ADNOC to list drilling unit in Abu Dhabi IPO
Abu Dhabi National Oil Co. (ADNOC) is planning to sell shares in its drilling unit in what would rank among the largest initial public offerings (IPO) in the United Arab Emirates.
Sunseap set to build world’s biggest floating solar in Indonesia
Singapore’s Sunseap is planning a $2 billion floating solar project on a reservoir in Indonesia’s Batam Island. If successful it will be the world’s largest to date and electricity could be exported via undersea cable to the nearby island city state of Singapore.
North Sea firm Orcadian Energy aims to raise £5m via London IPO
North Sea oil firm Orcadian Energy intends to raise £5 million via an initial public offering (IPO) in London.
Neptune hiring JP Morgan to advise on options, including IPO, report says
Neptune Energy is hiring US bank JP Morgan to explore strategic options for the business, including an initial public offering, a news report said.
Neptune Energy working with Rothschild as it studies IPO
Neptune Energy, the oil and gas explorer backed by Carlyle Group and CVC Capital Partners, is working with financial adviser Rothschild & Co. to explore potential options including an IPO, according to people familiar with the matter.
Schlumberger-backed Arabian Drilling plans Saudi IPO
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
Indonesian NOC Pertamina readies IPO
Indonesia’s national oil company (NOC) Pertamina is preparing to take at least one of its business units public during the second-half 2021.
Financial benefits of spinning off renewables assets misses wider decarbonisation issue, warns HSBC
Europe’s oil and gas majors could access a wide pool of investors and “unlock value” by spinning off their renewables assets in initial public offerings (IPOs).
Fuel cells vs diesel, GenCell picks a side
Hydrogen is becoming an increasingly popular option for those thinking about the future, sharing as it does some traits with petroleum products while its consumption emits no carbon.
Saudi’s PIF increases ACWA Power involvement
Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in ACWA Power to 50%, from 33.6%.
Angola tallies corruption cost, eyes Sonangol listing
Angolan President João Lourenço said his predecessor had overseen the loss of $24 billion, in an interview with the Wall Street Journal.
More Scots companies should consider AIM listing, says capital markets expert
Scottish telecoms technology company Calnex Solutions today confirmed its £42m listing on London’s AIM market – the first Scottish AIM listing since 2018.
BW scales back IPO plans on coronavirus chill
Plans for an IPO for marginal field-developer BW Energy have been pushed back – and pricing scaled back – in light of financial volatility, blamed on the coronavirus in China.
Sonangol tees up share sale
Angola intends to privatise 30% in state-owned Sonangol, in a bid to raise money and increase the company’s competitive edge.
BW Energy sets out IPO pricing
BW Energy expects to price shares in its IPO at 34.2-36.6 Norwegian krone ($3.74-4), valuing the company at $700-750 million.
BW Energy plans Oslo IPO this quarter
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Domestic demands and Aramco’s IPO
Saudi Arabia is pushing ahead with the much-watched IPO of the mainstay of its economy, Aramco, although with somewhat diminished aspirations.
Aramco failure to win foreign cash makes IPO local event
Two years ago, when the initial public offering of Saudi oil giant Aramco held the imagination of foreign investors, President Donald Trump felt compelled to publicly lobby for the share sale to happen in America.
Saudi Arabia cuts $2trillion Aramco valuation
Saudi Arabia set a valuation target for Aramco’s initial public offering well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and pared back the size of the sale to ensure the world’s largest oil producer successfully lists on the Riyadh stock exchange next month.
Saudi Arabia starts IPO of state-owned oil giant Aramco
Saudi Arabia has formally announced the start of its initial public offering (IPO) of the state-run oil giant Saudi Aramco.
Ghana challenges slow Pecan development for Aker
Aker Energy has changed its plans to develop the Pecan field in Ghana in the face of regulatory complexity.