Finance News

NOLA Oil Terminal, LLC has been approved by the Louisiana State Bond Commission to issue up to $300 million in tax exempt bonds. This is in addition to funding already secured to commence construction, which began in October 2021, at its 158-acre crude oil and refined products terminal at Mile Marker 59 along the lower Mississippi River in Plaquemines Parish.

Chevron Corporation reports earnings of $5.1 billion ($2.63 per share - diluted) for fourth quarter 2021, compared with a loss of $665 million ($(0.33) per share - diluted) in fourth quarter 2020.

Seadrill 2021 Limited announced on February 23, that it has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the “Plan”). The Plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 26, 2021.

Global upstream merger and acquisition (M&A) deals rebounded to pre-Covid-19 levels in 2021, reaching a total of $181 billion, a 70% increase over 2020, Rystad Energy research shows. The total deal value for 2021 was the highest in three years and almost reached the highs seen in 2017 and 2018 of $205 billion and $199 billion, respectively.

In the fourth quarter of 2021, revenue growth at 24.8% was particularly strong and supported by all regions, business lines and market segments. EBIT margin was 4.3% compared to 1.1% in the comparable period last year as a result of improved performance in Americas and Middle East & India, in particular in marine.

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