The board of Ades Holding (SASE:2382) recommended raising the company's capital to 2.26 billion Saudi riyals from 1.13 billion riyals through the issue of bonus shares.
The drilling services company said Tuesday that the increase will be done through the issue of one bonus share for every share held. The company will fund the capital boost by capitalizing 1.13 billion riyals from its share premium account.
Ades Holding added that the move is subject to regulatory and shareholder approvals.
Equinor (EQNR.OL) elected Jarle Roth as its new chair during its corporate assembly held on Monday, according to a same-day release.Roth will succeed Jon Erik Reinhardsen, who decided to resign. The Norwegian energy company also reelected Anne Drinkwater as deputy chair.
Abu Dhabi National Oil Co., d/b/a Adnoc, reportedly launched a second tender to sell Upper Zakum, Umm Lulu, and Das crude cargoes for June to August loading.The tender, set to close on Thursday, marks the state-owned oil group's second this week and allows buyers to bid for up to 2 million barrels of oil, Reuters reported Monday, citing trade sources.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
New Zealand will move forward with plans for its first liquefied natural gas import terminal, with the government saying the project remains the fastest and most affordable way to bolster energy security despite higher global gas prices caused by the Iran conflict, Bloomberg reported Monday.Energy Minister Simeon Brown said officials are advancing two bidders to the next stage of the process for a terminal in the Taranaki region, targeted to begin operations in 2027 or early 2028.The project is intended to provide backup power during periods of low hydro, wind and solar generation as New Zealand's domestic gas supplies decline, the report said.