Solution sought for supply ship unit as Maersk sells oil business
Aug 21, 2017, 20:28
By selling to Total, we ensure a continued Danish stronghold in the North Sea based on Maersk Oil's leading position within technology development and its track record as a lean, efficient and trusted partner.
In addition to the shares, Total is assuming a short-term debt of 2.5 billion dollars via debt push down from Maersk into Maersk Oil. In January, Exxon Mobil Corp. agreed to pay $5.6 billion in shares, plus a series of contingent cash payments totaling as much as $1 billion, for drilling rights in the Permian shale region of Texas.
Maersk lost out to Total in June, when the French company won a 30 per cent stake in a 25-year agreement to operate Qatar's largest offshore field, Al Shaheen, which is currenlty run by Maersk and whose license expires this year.
Total said it expects to generate operational, commercial and financial synergies of more than $400mn/yr, in particular by the combination of North Sea assets at both firms. Moreover, the deal adds significant volumes to the North Sea reserve base. The deal is already approved by both boards and expected to close in 1Q 2018 and have an effective date of July 1 2017. Maersk had been considering spinning off the oil and gas assets in an initial public offering, but "we offered them another option". Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Oil prices move lower on seasonal pressures
The weekly US crude inventory report from the industry group American Petroleum Institute (API) is due out later on Tuesday. Even so, Citigroup Inc.'s Ed Morse says shale will win over OPEC on oil, as US drillers can survive due to hedging.
Louis Cardinals vs. Kansas City Royals
Kansas City was leading 5-4 at the time and play was delayed for a couple minutes while the grounds crew collected the cat. A small kitten had a big impact on a Major League Baseball game after running onto the field on Wednesday night.
West Nile Virus Reported In McLean County
The Vector Control District plans to collect adult mosquitoes with traps in the area where the crow was discovered. To keep mosquitoes from entering a home, make sure window and door screens are in place and are in good condition.
Total said the acquisition would make it the second largest operator in the North Sea and strengthens its business in the United Kingdom and Norway. "Maersk Oil is the first of the four energy companies of A.P. Moller-Maersk for which a future structural solution has now been identified".
"Total is acquiring a deep specialist in unlocking complex reservoirs and boosting recovery factors through enhanced oil recovery techniques", Dr Kretzschmar said. Known as a scrip dividend, paying investors in shares has allowed Total to preserve cash but has also diluted its share pool and weighed on its value.
The proposed transaction is subject to the applicable legally required consultation and notification processes for employee representatives and to approvals by the relevant regulatory authorities.
The renders revealed a full-screen display on the smartphone, with extremely narrow bezels on the top and bottom. The Huawei Mate 10 is said to be priced at over $1,000 marking it as one of Huawei's most expensive devices.
Wisconsin has played just once at the stadium, for last year's 16-14 victory over No. 5 LSU in the Lambeau Field College Classic. Notre Dame and Wisconsin will play at Lambeau Field in Green Bay, Wisconsin, in 2020 and Soldier Field in Chicago in 2021.
They issued it late on Sunday evening (local time) after meeting with Beijing's top diplomat in Manila during the day. The sea is strategically important because it is home to a third of the world's shipping lanes.
The new feature ensures that the Touch ID is temporarily disabled only when user decides to disable it in emergency situations. One of the new features arriving with iOS 11 is the Dock , which Apple has called "a foundational change for the iPad".
Excluding cars, retail sales still rose 0.5 per cent, while leaving out the volatile gasoline segment, sales were up 0.7 per cent. There were sales gains in other areas, including furniture stores, hardware stores and restaurants.
Tensions between Erdogan and the European Union were increased in 2016 after an abortive coup attempt against him. With the charges raised against him remaining unknown, German officials said the move was politically motivated.
A Spanish guard can be seen breaking his lower leg while attempting to kick one of the charging migrants. However, Spain has become an increasingly attractive route for migrants and smugglers this year.
Kinder Morgan Canada's stock price fell 3.6% in trading on Toronto stock market, closing the session at C$17.28. The Trans Mountain extension would connect Alberta to British Columbia and triple Kinder Morgan's capacity.
Tensions have increased as North Korea advanced toward being able to hit the mainland United States with a nuclear-armed missile. North Korea regards the USA exercises with South Korea and Japan as preparations for invasion.
Ali promised to "stand by [his] reporting" and "protect [his] sources" in a tweet responding to the lawsuit Wednesday. Members of HuffPost's editorial team weighed in to defend Ali, describing him as a "careful and meticulous reporter".
Georgia ranked 15th in 2017 preseason AP Poll
Meanwhile, Ohio State - which is ranked second - is making its 29th consecutive appearance in the preseason poll. Kansas State will enter the football season as a ranked team for the first time since 2014.
Eclipse poses dangers to the eyes
Even if just 1 percent of the sun is visible, Testin said, that is still more than 10,000 times brighter than a full moon. Keep in mind that plenty of fake vendors are selling solar eclipse glasses claiming they'll protect your eyes.
'I Hope Trump Is Assassinated'
A report from CNN News indicates that the Secret Service is investigating posts by the Missouri lawmaker today. Chappelle-Nadal has been outspoken about issues in the past, The Washington Post reported .
BetVictor offers 100/1 for McGregor to beat Mayweather
Mayweather hasn't knocked out a fighter since he defeated Victor Ortiz six years ago with a controversial knockout. Both the Mayweather and McGregor camps have antagonized the NSAC on social media in an effort to sell tickets.
Sharapova to play first major in 18 months at US Open
The 30-year-old won the US Open in 2006 and last played there in 2014, but will be unseeded for this year's event in NY . Upon her comeback she was denied a wild card for both the main draw and qualifying into the French Open .
Aguero on target as Man City down promoted Brighton
It was quite similar level to pre-season in terms of working without the ball, and we are going to improve", he added. Our fans really get behind us and they're going to step it up even more because they know we need them even more.
Crystal Palace vs Huddersfield Town
We know we were very clinical and had bit of luck when they missed chances. "You take risks of course". We started well but after 10 minutes the game changed.
Perseid meteor shower in Egypt skies until Sunday
At Babcock State Park, naturalist Abby Rice will provide meteor-spotting guidance during a Perseid Party that starts at 8:30 p.m. The Perseids are caused by the Earth passing through a comet's debris field, according to the American Meteor Society .
Ruth Pfau (1929 - 2017)
Inferable from her endeavors, in 1996, Pakistan was viewed as one of the principal nations to have controlled leprosy infection. She was honoured with the second highest civilian award, Hilal-i-Imtiaz, and Hilal-i-Pakistan in 1979 and 1980 respectively.