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Project Finance

  • August 21, 2012

    US Cautions Oil Firms On Kurdish Investments

    The U.S. Department of State on Monday reminded U.S. oil companies of the legal risks of bypassing Iraq's central government when planning deals in the northern Kurdish region, a shortcut that has iced Exxon Mobil Corp. and Chevron Corp. out of the Halfaya oil field.

  • August 21, 2012

    Mass. Looks To Spark Development With New Muni Bond Law

    Massachusetts towns have a new tool to finance roads, sewers and water systems without stretching their already-tight budgets, thanks to a new state law that attorneys say should ease financing for the basic infrastructure needed to lure private developers.

  • August 21, 2012

    FERC Grants License For First Wave-Power Project In US

    The Federal Energy Regulatory Commission has licensed Ocean Power Technologies Inc. to build the nation’s first commercial plant harnessing electricity from the force of waves, the company said Monday, a breakthrough for a sector regulators say boasts serious promise.

  • August 21, 2012

    Judge Won't Reinstate Atty's Airport Bond Antitrust Suit

    A New York state judge refused Tuesday to undo the dismissal of allegations that Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs & Co. conspired to suppress a former Cadwalader Wickersham & Taft LLP attorney's patented financing method for airport bonds.

  • August 21, 2012

    Heritage Raises $450M In Iraq Energy Deal With Genel

    Heritage Oil PLC will sell a 26 percent stake in an oil and gas territory in Iraq's Kurdistan region to Genel Energy PLC for $156 million and also receive a $294 million loan from the company, Heritage announced Tuesday.

  • August 20, 2012

    Congressman Blasts LA Courthouse Plan As Unnecessary

    A U.S. congressman on Friday criticized the General Services Administration’s $400 million plan to construct a new federal courthouse in Los Angeles, claiming it was unnecessary and a waste of taxpayer money.

  • August 20, 2012

    $151B NE Transport Proposal Faces Rail Skeptics In Philly

    Philadelphia-area rail advocates expressed concern during a Monday public meeting that a $151 billion proposal for future improvements to the Northeast Corridor, including high-speed rail through the heart of the city, would harm existing services for regional and commuter rail passengers.

  • August 20, 2012

    White House Revs Up $3.5B Project Targeting I-5, Rail

    The White House on Monday gave federal agencies a three-year deadline to review a $3.5 billion highway and rail project targeting a key Interstate 5 hub in the Pacific Northwest, one of four projects the Obama administration marked for expedited permitting.

  • August 20, 2012

    Shell Arctic Drilling Risks Run Too High, NRDC Says

    A leading environmental group released a report Monday arguing that the U.S. Department of the Interior shouldn’t approve Royal Dutch Shell PLC’s plans to drill for oil in the Arctic until regulators and the industry develop better response capabilities and learn more about the region’s environment.

  • August 20, 2012

    Oil, Gas Co. Accuses Partner Of Dodging Field Startup Costs

    Oil and gas company Gaither Petroleum Corp. on Friday launched a suit in Texas state court over a troubled joint venture, alleging that a business partner is trying to dodge its share of expenses incurred in the development of an oil field.

  • August 20, 2012

    Cuomo Signs Bill Package To Ease Solar Development Costs

    New York Gov. Andrew Cuomo on Friday signed a trio of bills into law that aim to chip away at costs for small-scale solar energy development in the state, including a measure that exempts commercial solar energy equipment from sales taxes.

  • August 20, 2012

    Ncondezi’s 1,800-MW Mozambique Plant Moves Forward

    Ncondezi Coal Co. Ltd. is pushing forward with plans to add an 1,800-megawatt coal-fired power plant to its $376 million planned Mozambique thermal coal mine, thanks to a feasibility study that confirmed the viability of the power project, the company announced Monday.

  • August 20, 2012

    Franco-Nevada Pays Inmet $1B For Panama Mine's Metals

    Precious metals financier Franco-Nevada Corp. plunked down a $1 billion advance payment for gold and silver from Inmet Mining Corp.’s Cobre Panama project, which will help Inmet finance its share of the $6.2 billion mine, the firms announced Monday.

  • August 20, 2012

    Kinder Morgan Plans $2B Asset Sale To Quell Antitrust Worries

    Texas oil and gas company Kinder Morgan Energy Partners LP said Monday that it will sell its Western U.S. assets to private equity-backed Tallgrass Energy Partners LP for $1.8 billion, satisfying antitrust conditions for its $21 billion acquisition of El Paso Corp.

  • August 20, 2012

    BAA Consents To Sell Stansted Airport After Lengthy Appeals

    BAA Airports Ltd. has agreed to sell Stansted Airport near London in order to fend off regulators' antitrust concerns following the British company's latest unsuccessful appeal of the matter, the company announced on Monday.

  • August 20, 2012

    Total Snubs Iraqi Ultimatum With $48M Kurdish Oil Deal

    Two weeks after angering Iraqi officials by buying into oil projects in semi-autonomous Kurdistan, French energy firm Total SA is at it again, agreeing Monday to take a minority stake in an early-stage Kurdish field for $48 million.

  • August 20, 2012

    Chevron, Shell Swap Aussie Gas Stakes, $450M Cash

    Chevron Corp. and Royal Dutch Shell PLC agreed Monday to swap interests, plus $450 million, in two massive liquefied natural gas developments in Australia trading upstream risk in two of the world’s most expensive and ambitious energy projects.

  • August 20, 2012

    Tappan Zee Replacement Plan Clears Key NY Council

    The $5 billion plan to replace New York's Tappan Zee Bridge took a step forward Monday when lawmakers on a state transit council voted to make the project eligible for federal money after three officials initially had put off giving their seal of approval because of concerns about the project's apparent lack of mass transit.

  • August 20, 2012

    China Says US Is Illegally Subsidizing Clean Energy Projects

    China's Ministry of Commerce said Monday that six renewable energy projects in the U.S. are in violation of World Trade Organization rules covering state subsidies and trade barriers.

  • August 17, 2012

    Solar Could Win Big In Army's $7B Energy Buy

    Solar power companies are well positioned to compete for U.S. Army energy contracts worth $7 billion over the next 10 years, considering the solar-friendly terrain around bases and the attractive pricing of renewable energy projects as utility-scale development slows and competition for projects increases, experts say.