According to Ukraine-based DTEK’s CEO Maxym Tymchenko, the energy firm is planning on the sale of coal assets in Russia.
The company is looking to divest its stake in OJSC Obukhovskaya Colliery Group and OJSC Don-Anthracite (Rostov region, Russia).
Proceeds from the sale would be utilised towards reducing its debt of c.$436 m.
Previously, DTEK was negotiating with lenders to restructure its debt.
Mr. Tymchenko said that coal production by the company’s assets in Russia in 2016 will be around 2.6m tonnes of coal. The company seeks to sell 60% of coal in Russia and the rest of coal in Europe.
British energy sector operator Centrica Plc sold its stake in some of its North Sea licences to Det Norske. Centric a stated that the assets sold were no longer core to the company.
Amongst the asset sale, Centrica sold its 30% stake in three licences in PL 442; PL 026B; and PL 026, including the operatorship in the Frigg Gamma Delta and Rind oilfields.
Source: Offshore Post
Oil and gas major Chevron sold 70 offshore platforms to independent explorer Cox Oil at an undisclosed price.
The deal includes a total of 19 offshore oil and gas fields, 70 platforms, and 170 active wells. All assets are located in the US Gulf of Mexico, and in Louisiana state waters.
About 100 employees, which were employed on these platforms, would get absorbed into Cox Oil.
Source: Offshore Post
China State Grid Corp. has shown interest in acquiring Abengoa S.A.’s assets under construction in Brazil.
Officials from the state-owned firm visited Abengoa’s energy transmission project sites in Brazil which are under construction to evaluate a takeover.
According to sources, these assets comprise of Abengoa’s portfolio of assets whose construction had stalled last year when the firm ran into financial problems.
Sources further stated that the Brazilian government wanted to avoid a piecemeal sale of Abengoa’s Brazilian assets to avoid delays. Some of the major assets include a major transmission line linking the Belo Monte hydroelectric dam in the Amazon to consumer markets.
State Grid has invested more than $1bn in Brazil’s energy sector since 2010.
Abengoa has about 6,000 kms of transmission lines which are under construction, requiring billions of dollars in investments.
Further, the company has debts of more than BRL 800m ($218m) with equipment suppliers in the country, according to the electricity industry association Abinee.
Spanish renewable energy firm Abengoa S.A., commenced sale of its 70mw Campo Palomas wind energy farm in Uruguay to Invenergy Wind LLC for a total consideration price of $37.5m which it would utilize to pay off debt on the plant. The company had outlined this plant as part of its planned divestitures.
Abengoa would continue constructing the $49m plant which was awarded by state-owned firm Electric Power Plants & Transmissions (UTE). Commercial operations at the plant would commence by February 2017.
Invenergy secured financing from Inter-American Investment Corp. DNB served as mandated lead arranger and a participant in the B-loan. Voltiq advised the company on the debt transaction.