Hints and tips:
...Deals have included the takeover of Australian telecoms and subsea cable company Vocus by Aware Super and Macquarie’s infrastructure arm, Australian Super and Singtel’s A$3.5bn purchase of Telstra’s mobile...
...HOLD: Kingfisher (KGF) The heavily-shorted company looks exposed to the changing dynamics of the sector, writes Christopher Akers....
...HOLD: Superdry (SDRY) The group has returned to profit, despite revenues falling, with post-period results displaying tangible progress, writes Christopher Akers....
...In the next few years, African data centre operators are also set to benefit from the completion of subsea internet cables that are being financed by Google, Facebook’s parent Meta and other investors....
...newly formed EXA will be backed to invest in improving the assets it has taken on and looking for deals to boost its network, which consists of 103,000km of fibre optic cable connecting 300 cities, eight subsea...
...Other contractors looking to push into low carbon projects include Aker Solutions, Xodus and Subsea 7....
...Telefónica pulled a listing of its Telxius unit due to valuation concerns and the inclusion of subsea cables alongside its masts. It later sold a stake in the unit to KKR, the private equity firm....
...But, at 2,000km in length and depths of up to 3km, it would be the longest and most difficult subsea development of its kind. Many experts doubt its viability....
...Others are forming alliances to widen their range of services, including Saipem with Aker Solutions and Subsea 7 with Schlumberger....
...In 1987 an unmanned submarine helped discover the subsea wreck....
...Oslo-listed Subsea 7 has the largest exposure to Petrobras; US-listed generalists, such as Halliburton and Weatherford, have relatively little exposure to Brazil....
...Technip and FMC last year set up a joint venture, Forsys Subsea, to provide that integrated service for part of their operations, and Mr Gremp argued that the “proven success” of that model showed that they...
...Bibby Offshore, which provides subsea services to the oil and gas industry, increased sales 35 per cent from £284m to £384m the year before and was the biggest profits generator, at £52m, up from £39m....
...Clearly, management overpaid for acquisitions such as GlobalSantaFe (2007) and Aker Drilling (2011)....
...Number 2 is from Norway, oil services, Aker Solutions. Nok 93.5 per share....
...The front of one of the 6m-high machines in subsea equipment maker SMD’s works near Newcastle upon Tyne has a huge roller-like device, covered in points like a medieval cudgel....
...Nautilus Minerals, a Canadian company, has a mining lease to extract metals such as copper and gold from sulphide ores in the territorial waters of Papua New Guinea, though its subsea mining equipment is...
...The market is dominated by western companies such as FMC Technologies of the US, France’s Technip and Norway’s Aker Solutions....
...Among high risers, FMC Technologies rallied 5 per cent to $50.46, after the largest US provider of subsea gear to the oil and natural gas industry beat expectations for orders last quarter and forecast...
...Those numbers are not terminal: about 12 per cent of Subsea 7’s group revenues of $5.5bn are in Brazil....
...Oslo-listed offshore engineering company Subsea 7 fell 2.7 per cent to NKr128.50, against a 1.2 per cent fall across the wider OBX index to 397.36....
...Thomas Nicolette, Akers chief executive, said he was “profoundly disappointed” by the contract delay....
...The US Geological Survey estimates the Levantine Basin, a subsea area which runs from Egypt north to Turkey, contains 1.7bn barrels of undiscovered, technically recoverable oil and 122tn cubic feet of gas...
...One is Sir John Pender, the Victorian subsea cable pioneer; the other is Sir Richard Lapthorne....
...The last subsea cable was laid in the Atlantic in 2003, meaning the current infrastructure is starting to be in need of updating....
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