Nordic American Tankers File 2011 Annual Report

Bermuda based Nordic American Tankers Limited, announced today [Apr.18] that it has filed its 2011 Annual Report on Form 20-F with the United States Securities and Exchange Commission and the report is available for download on the SEC website. The Annual Report on Form 20-F and the Company’s 2011 Annual Report to Shareholders, each of [...]

Teekay Completes Norwegian Bond Issuance

Bermuda registered Teekay LNG Partners L.P. announced yesterday [Apr.17] that it has issued NOK 700 million in senior unsecured bonds maturing in May 2017 in the Norwegian bond market. The aggregate principal amount of the bonds is equivalent to approximately 120 million U.S. dollars and all interest and principal payments will be swapped into USD. [...]

Teekay Tankers Ltd. Acquisition of 13 Vessels

Bermuda registered Teekay Tankers Ltd. has reached an agreement to acquire from Teekay Corporation, a fleet of 13 double-hull conventional oil and product tankers and related time-charter contracts, debt facilities and other assets and rights, for an aggregate purchase price of approximately $455 million. Teekay Tankers will acquire  a fleet of seven crude oil tankers [...]

Solar System System Permits Extended

The Minister of Environment, Planning and Infrastructure Strategy Marc Bean announced that, as of February 2012, the Ministry has extended the permitted development rights for Solar Energy Collection systems from 80 square feet to 400 square feet. This follows an amendment to the Development and Planning [General Development] Order 1999 and would allow an average [...]

Energy Director To Attend Energy Conferences

The Director of Energy Ms Jeane Nikolai will attend two conferences in the Caribbean next week to discuss the region’s renewable energy sector. From April 16 to 17 Ms Nikolai will attend the Barbados Power Summit in Bridgetown Barbados and then go on to attend the Jamaica Power Summit in Kingston, Jamaica on April 19 [...]

Parex Announces Colombia Acquisition

Parex Resources Inc., a company focused on oil exploration and production in Colombia and Trinidad, yesterday [Apr.12] announced an acquisition of the class A common shares of a Bermuda based, Colombian focused private company. Parex, through a wholly owned subsidiary, has entered into a purchase and sale agreement with a Bermuda based subsidiary of Nabors [...]

Seadrill Orders New $135M Tender Rig

Seadrill has exercised an option to build a new tender rig at the COSCO Nantong Shipyard in China. The new unit, T18, is scheduled for delivery in the fourth quarter 2013. Total project price is estimated at US$135 million, including project management, drilling and handling tools, spares, and capitalized interest. T18 is similar to the [...]

AES Welcomes Planning Changes For Solar Panels

Tim Madeiros, Founder and Chief Executive Officer, Alternative Energy Systems says he welcomes an announcement by the Planning Department to increase the square footage for a Permitted Development Permit for solar panels. Mr Madeiros said, “I welcome the Planning Department’s announcement of an increase in the square footage for a Permitted Development Permit [PDP] for [...]

Archer Awarded Five Year Contract In North Sea

Archer, the Bermuda-based oilfield service company specialising in drilling services and well services, has secured a five year contract to provide integrated plug and abandonment services across Shell’s Brent field operations. Starting in April 2012, Archer will supply a number of service elements including drilling and maintenance, swarf management, cuttings re-injection (CRI), casing pulling services, [...]

Bermuda Firm Committed To Brazilian Venture

Brazil’s biggest oil-services company has announced its top shareholders — including Bermuda’s GP Investimentos Ltda. – remain committed to injecting at least $192 million of fresh capital. Caxias do Sul-based Lupatech has signed an agreement with investors, including the Brazilian development bank and the Petros pension fund, that formalises a December 29 plan to sell [...]

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