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Project Finance

  • July 30, 2012

    Morocco Closes Financing On $350M Wind Farm

    Morocco's state-owned electric company closed financing late last week on a $350 million project that will develop the largest wind farm in Africa, attorneys for the government announced Monday.

  • July 30, 2012

    Exxon Unveils Drilling At $16B Papua New Guinea LNG Site

    ExxonMobil Corp. has started drilling at a natural gas field in Papua New Guinea, a $15.7 billion liquefaction project with broad export-credit support that will begin shipping gas to four Asian buyers by 2014, it said Monday.

  • July 30, 2012

    Lloyds Puts Up $1.6B For Renewables, Infrastructure

    Lloyds Banking Group PLC on Monday pledged to invest 1 billion pounds ($1.6 billion) in infrastructure in conjunction with the U.K.'s economic stimulus efforts, with about half of the commitment earmarked for renewable energy project financing.

  • July 30, 2012

    Texas OKs $198M For Austin Highway Toll Expansion

    The Texas Department of Transportation on Thursday gave initial approval to $197.6 million in financing for the addition of two express toll lanes along a heavily congested Austin highway, with construction expected to begin next year.

  • July 30, 2012

    9th Circ. Lets Sierra Pacific Recover $20M For Dam Rebuild

    The Ninth Circuit on Friday partly upheld a Nevada federal court’s ruling in Sierra Pacific Power Co.’s insurance dispute, saying the utility can recover from its insurers the full $19.8 million it costs to rebuild a California hydroelectric dam destroyed by a 1997 flood.

  • July 30, 2012

    Chevron To Lead $2B Angola-Congo Offshore Oil Project

    Chevron Corp. has added to its West African upstream portfolio with a $2 billion venture, announced Monday, to develop a deepwater oil field in an offshore zone jointly held by Angola and the Republic of the Congo.

  • July 30, 2012

    Wachtell Aids Chicago Bridge With $2B-Plus Shaw Buy

    Energy infrastructure firm Chicago Bridge & Iron Co. is picking up Shaw Group Inc. for at least $2 billion, in a cash-and-stock deal that will create one of the world’s largest engineering and construction companies, the two announced Monday.

  • July 29, 2012

    Tappan Zee Draws 3 Bids, Samsung-Dragados Drops Out

    Three of the four pre-qualified bidders submitted proposals on Friday to build the new Tappan Zee Bridge, vying for the estimated $5.4 billion design-build contract to replace the aging Hudson River crossing.

  • July 27, 2012

    Shell JV Commits $4B For Nigerian Gas Capture Projects

    A Royal Dutch Shell PLC-led joint venture plunked down $4 billion on Thursday for two Nigerian oil and gas projects, completing its $6 billion initiative to slash continuous gas flaring in Africa’s most populous nation.

  • July 27, 2012

    Texas Court Throws Out Royalty Judgment Against El Paso

    A Texas appeals court on Thursday overturned an alleged mineral owner’s judgment against an El Paso Corp. unit, finding it was unclear whether or not the man actually held any interest in oil and gas beneath lands in South Texas.

  • July 27, 2012

    BP Hit With $3B Penalty Over Russian Arctic Venture

    A Russian arbitration court on Friday ordered BP PLC to pay $3.1 billion to its TNK-BP International Ltd. joint venture to settle claims that it shortchanged investors by pursuing its own alliance with Russian energy giant Rosneft OAO.

  • July 27, 2012

    Midstream Energy Deals Eclipsed Shale Plays In 2Q: Report

    Oil and gas industry transactions have shifted from upstream shale deals to the midstream sector in the second quarter, with M&A focused on gathering and processing assets accounting for $15.8 billion, or 55 percent of total deal value, according to a report released Thursday by PricewaterhouseCoopers LLP.

  • July 27, 2012

    Keystone XL Pipeline Receives Key Permit For Southern Leg

    TransCanada Corp. has secured the final of three key permits from the U.S. Army Corps of Engineers to start construction on a 485-mile segment of its Keystone XL pipeline that stretches from Oklahoma to the Texas Gulf Coast, the company said Friday.

  • July 27, 2012

    Partners In Gulf Well Venture Patch Up Upgrade Dispute

    Implicit Oil & Gas LP and GoMex Energy Offshore Ltd. moved Wednesday to settle a dispute stemming from their soured Gulf of Mexico drilling venture, three days after a deadline to start upgrades to the well that, if missed, might have terminated the lease.

  • July 27, 2012

    How They Won It: DLA Piper Scores 2nd Circ. Pipeline Victory

    With the fate of its planned $257 million natural gas pipeline hanging in the balance, Inergy LP turned to a DLA Piper attorney who won approval last month from the Second Circuit using his secret weapon: a pharmacist's license.

  • July 27, 2012

    DOT Launches $17B Transportation Infrastructure Fund

    The U.S. Department of Transportation has made roughly $17 billion in project and infrastructure financing available to private companies through the largest transportation infrastructure finance fund in the agency's history, the DOT said Friday.

  • July 27, 2012

    9th Circ. Won't Vacate EPA Approval Of $1B Emissions Swap

    The Ninth Circuit on Thursday declined to vacate a U.S. Environmental Protection Agency decision approving a local air quality agency's transfer of emissions credits to a new $1 billion power plant in California, finding that such an action would needlessly delay construction of a crucial facility.

  • July 26, 2012

    Senate Sends Sequestration Transparency Act To President

    The U.S. Senate on Wednesday unanimously passed the Sequestration Transparency Act, a bill that would force the Office of Management and Budget to disclose its plans to address sequestration, a series of $1.2 trillion in automatic cuts set to apply to federal agencies' budgets on Jan. 2.

  • July 26, 2012

    NJ Dems Say Christie Gutted Port Authority Oversight Bill

    Gov. Chris Christie on Thursday conditionally vetoed legislation aimed at increasing transparency at the Port Authority of New York and New Jersey, a move called “irresponsible and nonsensical” by bill sponsors who questioned his protection of the scandal-ridden agency under investigation for toll hikes.

  • July 26, 2012

    Shell Eyes 2013 Payoff As Arctic Drilling Progress Slows

    Faced with regulatory delays, Royal Dutch Shell PLC is paring back its oil exploration plans in the Arctic, leaving Alaska lawmakers and the industry to hope that some drilling activity this year will pave the way for larger-scale production and new permitting in 2013.