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...“We don’t believe we fully understand the risks associated with these offshore insurance companies,” said Natalie Winterfrost, a professional trustee and former chair of the investment committee at The Society...
...The most active Chinese investment bank in offshore dealmaking, CICC reported revenues of Rmb18.6bn ($2.6bn) in the first half of 2023, a 5 per cent increase on a year earlier....
...Individuals that own British property through offshore vehicles had until the end of January 2023 to register such entities and publicly reveal their ownership at Companies House....
...At least 10 offshore wind ports and five projects to build vessels and structures for offshore wind have been announced since the IRA passed....
...In 2015, Smartpay told a recruitment agency that it was an onshore company and provided information about its UK-registered entity of the same name, including company reference number, tax number and company...
...MEG Energy appointed Darlene Gates as president and chief executive of the Canadian oil sands company, succeeding Derek Evans....
...The Copenhagen-listed company said on Wednesday it would also cut up to 800 jobs and withdraw from offshore wind markets in Norway, Spain and Portugal, marking a retreat after several years of aggressive...
...Mads Nipper, president and chief executive, said the moves were needed to make Ørsted a “leaner and more efficient company”....
...Ørsted last week also said it would exit offshore markets in Norway, Spain and Portugal, and slow down its development of floating offshore wind....
...The German company, which produces about 15 per cent of the UK’s electricity and is developing offshore wind projects in the UK, wants officials to rethink their approach ahead of the next auction round...
...The other companies, they want to buy. But the lender, they are worried about the other company's credit....
...I had signed up two months before with the adventure sailing company 59° North....
...The US oil and gas industry is suing the Biden administration over its decision to severely restrict offshore drilling amid a growing industry backlash against its climate and energy policies....
...Offshore wind developers like strong gusts....
...alan.livsey@ft.com *This note has been changed to reflect that Chevron purchased its stake in an offshore license from two different companies (not one), and that it has applied to drill up to 10 wells....
...The companies are launching the fund at a challenging time for offshore wind, with developers under pressure from surging costs because of high interest rates and supply chain strains....
...The group’s shares rose 3 per cent to DKr371 by the market close, although they remain more than 40 per cent down since the start of the year after the company walked away from two offshore wind projects...
...Other options are turbine makers such as Vestas and China’s Goldwind, or companies deep in the offshore wind supply chain including Italy’s Prysmian and Germany’s Siemens Energy....
...The government wants the UK to have 50GW of offshore wind capacity by 2030, up from about 14GW now....
...The company is also facing increased competition from offshore rivals such as OKX and Huobi....
...The company has hired restructuring advisers ahead of likely negotiations with offshore creditors, to whom total debt is about $13bn, according to Bloomberg....
...The company said in a separate statement that it is seeking to ready plans to resolve its offshore debt payment risks....
...The companies had earlier petitioned the state utilities regulator to renegotiate the prices of the credits, saying “unforeseeable economic forces” — including inflation stemming from the war in Ukraine...
...Bonds issued by Vanke, a state-backed developer and the second-largest property company in the country, slumped in price below 40 cents on the dollar while Country Garden, which defaulted on its offshore...
...Evergrande, which had about $20bn of offshore debt when it collapsed, originally planned to issue notes linked to subsidiaries listed in Hong Kong, but the plan fell through after the company indicated in...
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