August 2011

Rosneft turns to Exxon for Arctic development 31 August 2011

Russian state-controlled oil and gas company Rosneft has formed a joint venture with ExxonMobil to develop offshore prospects in the Arctic Kara sea and the Black Sea's Tuapse Trough

Songa Offshore signs rig loan 31 August 2011

Songa Offshore has signed a $420 million 8.5 year loan to finance delivery of its Songa Eclipse ultra-deepwater semi-submersible offshore drilling rig from Jurong shipyard in Singapore

Fluxys nears Eni gas pipeline acquisitions 26 August 2011

Belgian gas pipeline operator Fluxys is close to acquiring stakes in two pipelines in Switzerland and Germany from Eni.

F2i and AXA receive G6 competition consent from EU 26 August 2011

The competition arm of the European Commission has approved F2i and AXA’s Eu772 million ($676 million) acquisition of the G6 gas network distribution assets

Barzan bid deadline nears 24 August 2011

Banks will submit bids for Qatar Petroleum and Exxon Mobil's Barzan gas project in Qatar by 29 August

INEOS and New Planet win USDA biofuels guarantee 22 August 2011

The US Department of Agriculture's Rural Development has issued a $75 million guarantee for the construction of a biomass-to-ethanol project

Magnum Hunter raises pipeline liquidity 18 August 2011

Magnum Hunter Resources (previously known as Petro Resources Corp) has closed a $150 million non-recourse facility - a five-year first lien $100 million revolver and a seven-year second lien $50 million term loan - to back its Eureka Hunter gas pipeline project in West Virginia and Ohio.

NRG buys Energy Plus 16 August 2011

New Jersey-based NRG Energy has agreed to buy Energy Plus for $190 million.

Satorp Islamic bond approved 16 August 2011

The proposed 16-year $995 million project sukuk for Total and Saudi Aramco's Satorp refinery project has been approved by Saudi Arabia's Capital Market Authority

Reliance signing Jamnagar debt refi 11 August 2011

Reliance Industries is signing its $1.09 billion five-year deal with a syndicate of 30-plus banks

Banks sign commitment letters for F2i and AXA’s gas network deal 11 August 2011

A club of 11 banks has signed commitment letters for a Eu2.2 billion ($3.16 billion) seven-year debt package backing F2i and AXA Private Equity’s acquisition of the G6 gas network and the refinancing of their combined gas network businesses, Enel Rete and E.ON Rete

Connacher sourcing partner for Great Divide 11 August 2011

Connacher Oil and Gas has mandated Rothschild as financial adviser to find a joint venture partner to develop its non-producing Great Divide oil sands assets in Alberta.

Xcite Energy seeks debt for Bentley 10 August 2011

Canadian-listed oil and gas independent Xcite Energy is evaluating debt sources for the funding of its Bentley field development in the UK North Sea.

Caiman finalises funding for Marcellus shale expansion 09 August 2011

Caiman Energy has raised a $300 million joint equity commitment from Highstar Capital and two of Caiman’s existing limited partners

Credit Suisse syndicates ETE’s Southern Union acquisition debt 08 August 2011

Credit Suisse has syndicated a $3.7 billion credit facility to Energy Transfer Equity for the purchase of Southern Union to nine lenders

Petrobras closes Gas Brasiliano Distribuidora deal 02 August 2011

Petrobras Gas has closed its purchase of Gas Brasiliano Distribuidora from ENI International.

Reliance refinances Jamnagar debt 01 August 2011

Reliance Industries has pulled in more than 10 banks to a five-year $1.09 billion refinancing of a $2 billion loan closed in 2006 for the Jamnagar refinery project.