Barclays ditches energy trading

British bank Barclays has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers that falling liquidity means they cannot use derivatives for their basic function: to hedge risk by locking in future prices.

Savanna waits on takeover

Total Energy Services is planning a hostile takeover of fellow Canadian oil service company Savanna Energy Services, although it has yet to make an offer to shareholders, writes Tonya Zelinsky.

Keppel to support KrisEnergy

Singapore’s Keppel has reaffirmed support for locally-based independent KrisEnergy, which is restructuring financially to hopefully avoid defaulting on an interest payment due on 9 December in respect of the 2017 notes.

Gazprom Neft revenue up

Russian state-controlled oil producer Gazprom Neft reported improving financials during the third quarter, saying that its revenues increased by 11% to over 450 billion rubles ($7 billion) versus the second quarter.

Rosneft bond plan for 2017

Russian state-controlled oil producer Rosneft is aiming to raise as much as 1.07 trillion rubles ($16.7 billion) next year by issuing new corporate bonds to domestic investors, writes Vladimir Afanasiev.