EMG gas pipeline faces ownership change as Delek plans LSE spin-off
Delek Drilling to transfer ownership in Israel-Egypt gas pipeline to new company as part of LSE spin-off plan: Delek Drilling, one of the main operators of Israel’s large offshore gas fields, is planning to spin off most of its assets into a new company it will IPO on the London Stock Exchange, according to a […]
Pharos Energy confirms its interest in Shell’s Egypt upstream assets
London-listed junior confirms it is in the ‘preliminary stage of its evaluation’ as part of consortium. London-listed junior Pharos Energy has confirmed it is eyeing Shell’s upstream portfolio in the Western Desert in Egypt, which was recently put for sale. Pharos Energy has confirmed its interest in purchasing Shell’s onshore oil and gas assets in […]
SOCO International in potential merger talks with Kuwait Energy
SOCO International, an oil and gas exploration and production company listed on the London Stock Exchange, said on Monday it was evaluating a merger with Middle East oil and gas firm Kuwait Energy. Its statement confirmed a Reuters report earlier on Monday that the two companies were in merger talks. A merger would provide a […]
ADES lays out blueprint for growth through oil downturn
“Our business model relies largely on legacy offshore assets that we purchase and refurbish.” Mohamed Farouk, oil driller ADES International’s chief executive, makes his business sound very straightforward. “Our business model relies largely on legacy offshore assets that we purchase and refurbish.” Revenue growth of more than 35% in each of the past three years […]
ADES looks to go from strength to strength after London Stock Exchange listing
A fledgling oil and gas drilling services firm which listed in London this year plans to continue its strong start to life with exclusive marketing deals with shipyards. ADES International chief executive Mohamed Farouk said agreements with yards in Asia would give the company access to new build jack-up rigs without breaking the “asset-light”, low […]
AMOC considers building $500 million fuel oil refining complex
State-owned Alexandria Mineral Oils Company (AMOC) is considering spending USD 500 mn on a fuel oil refining project, chairman Amr Mostafa tells Al Mal. Technical studies are being drafted and are expected to be completed before year-end. The company is also issuing a tender for the development of a USD 50 mn fuel oil production […]
ADES offers 40% stake on London Stock Exchange
Advanced Energy Systems (ADES) has completed offering 40% of its shares on London Stock Exchange early in May at a price of USD 16.50 per share, with total proceeds of USD 278mn. The floatation is managed by EFG-Hermes and Citi Group with Baker McKenzie acting as the legal advisor. Sources told Al Mal newspaper that […]
ADES International Holding announces intention to float on the London Stock Exchange
Global offering to raise funds to support ramp-up of operations in key oil and gas drilling and production services markets in the Middle East and Africa, capitalizing on opportune industry backdrop and company’s unique cost structure. Dubai International Financial Centre-based ADES International Holding Ltd. (“ADES” or the “Company” and including its consolidated subsidiaries from time […]
