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Project Finance

  • July 12, 2012

    World Bank OKs $684M In Loans For East Africa Power Line

    The World Bank signed off Thursday on $684 million in financing for the Eastern Electricity Highway Project, which plans to connect the electrical grids of Ethiopia and Kenya to reduce energy costs and address Kenya's severe power shortages.

  • July 12, 2012

    Premier Oil Strikes $1B Deal To Drill In Disputed Falklands

    Britain's Premier Oil PLC has agreed to a $1 billion deal with Rockhopper Exploration PLC to develop oil reserves in the U.K.-governed Falkland Islands, Premier said Thursday, in a move meant to bolster its production but that seems sure to rankle Argentina.

  • July 12, 2012

    Total Grabs Bigger Slice Of $34B Inpex LNG Venture

    Joint venture partners Inpex Corp. and Total SA have traded a small slice of their $34 billion Ichthys project, upping Total's stake in the offshore Australian liquefied natural gas operation to 30 percent, the parties announced Wednesday.

  • July 12, 2012

    Mass. Top Court OKs $440M Toll Diversion To Big Dig

    Massachusetts' highest court on Thursday said the state's highway authority was acting legally when it diverted an estimated $440 million in turnpike tolls to help pay for the Big Dig, the massive construction project that rerouted Boston's downtown highways underground.

  • July 12, 2012

    DOE Promises No More Solyndras

    The U.S. Department of Energy defended its highly debated loan program to House legislators on Thursday, saying it had already implemented changes to prevent another Solyndra LLC loan snafu and that Republicans' efforts to phase out the funding would punish the broader energy industry.

  • July 12, 2012

    High Court Asked To Weigh Juries' Role In Punitive Damages

    A worker who won a $2 million punitive damages jury award against UPS Inc. in a retaliatory discharge suit has asked the U.S. Supreme Court to decide if the Tenth Circuit was wrong to rule that the award was excessive, arguing that it was a decision best left to the jury in many types of cases.

  • July 12, 2012

    Shell's 4th Push Of $1.8B Cove Offer May Prompt Bid War End

    Royal Dutch Shell PLC delayed the deadline for its $1.8 billion Cove Energy PLC tender offer a fourth time Thursday, which could prompt U.K. regulators to step in and force closure in the five-month bidding battle as soon as next week.

  • July 11, 2012

    Australia Acquisition Inks $350M Asset Deal To Join Harbinger

    Australia Acquisition Corp. will buy $350 million worth of assets, including a resort development company and an iron ore producer, from Harbinger Capital Partners LLC in a deal that will unite them to form a new holding company focused on emerging markets, the companies said Wednesday.

  • July 11, 2012

    Shell Canada's Carbon-Capture Project Clears Enviro Hurdle

    Alberta's energy regulator signed off Tuesday on a proposal from Royal Dutch Shell PLC's Canadian unit to build a carbon-capture and -storage project north of Edmonton, with conditions for more data collection and reporting at the planned site.

  • July 11, 2012

    India's Reliance Power Gets $1B In Project Loans From China

    India's Reliance Power Ltd. has shored up $1.1 billion in loans from Chinese banks for a coal-based power plant in central India, an Indian news outlet reported Wednesday.

  • July 11, 2012

    Central Crude Can't Duck Enbridge Pipeline Fee Claims

    Louisiana-based Central Crude Inc. lost its bid Tuesday for summary judgment against an Enbridge Inc. unit that sued the natural gas shipper for allegedly withholding fees the energy giant claims Central Crude should pay for shipping gas on its Texas pipe network.

  • July 11, 2012

    White House Throws Its Weight Behind Biomass Incentives

    A top White House aide said Wednesday that the Obama administration seeks to encourage continued growth in the biomass energy industry by supporting deployment efforts and calling on Congress to extend renewable energy incentives.

  • July 11, 2012

    House Sets Up Vote On Strategic Mineral Mining Bill

    The U.S. House of Representatives on Wednesday waved forward legislation that would expedite permitting for rare earth mineral mines in an effort to streamline a drawn-out process that Republican lawmakers and industry experts claim is holding back American mining projects.

  • July 11, 2012

    DC Circ. Won't Halt $14B Southern Co. Nuclear Plant Expansion

    The D.C. Circuit on Wednesday refused to block construction of a pair of new Southern Co. reactors at a Georgia power plant pending court review of an environmental suit against the U.S. Nuclear Regulatory Commission over its approval of the $14 billion project.

  • July 11, 2012

    India State Oil Cos. Invest $3B In Venezuelan Projects

    ONGC Videsh Ltd., an affiliate of Indian state-owned Oil & Natural Gas Corp., is leading a consortium of state-run companies to invest $3 billion in two crude oil exploration projects in Venezuela in an effort to remedy its energy crisis back home, the Indian government said Wednesday.

  • July 11, 2012

    El Paso Highway Project To Go Ahead Over Green Objections

    A Texas federal judge on Wednesday rejected the Sierra Club’s bid to block a highway-expansion project in El Paso on a 3.6-mile stretch ending near the country’s largest urban park, finding state agencies’ preliminary environmental analysis to be adequate.

  • July 11, 2012

    Pa.-To-NY Gas Pipeline Should Hug I-88, NY Lawmaker Says

    Cabot Oil & Gas Corp.'s and Williams Partners LP's Pennsylvania-to-New York natural gas pipeline should follow a major highway instead of slicing through land occupied by Empire State farmers who are rebuilding after two major storms, a state lawmaker said Wednesday.

  • July 11, 2012

    DOI Raises Enviro Concerns Over $1B Idaho Hydro Project

    The U.S. Department of the Interior said Tuesday it had “considerable concern” about the environmental impacts of a $1 billion, 1,100-megawatt hydroelectric project proposed in Idaho, saying it could harm fish and birds and affect water quality.

  • July 11, 2012

    Ohio Gov. Beefs Up Regs On Fracking Wells

    Ohio Gov. John Kasich signed an order Tuesday that places immediate regulations and requirements on deep-injection wells used for fracking, which could conceivably make it more difficult to gain well permits in the state.

  • July 11, 2012

    Unit Corp. To Pay $617M For Noble Energy Midstream Assets

    Oklahoma energy exploration company Unit Corp. has agreed to acquire the U.S. midcontinent assets of Texas oil and gas firm Noble Energy Inc. for $617.1 million, the companies announced Wednesday.