TXF in depth

The ebb and flow of North Sea upstream finance
The ebb and flow of North Sea upstream finance
Max Thompson
11 December 2019

The renaissance in North Sea oil field M&As is being driven by new flows of capital and RBL lenders backing mid-cap oil companies acquiring assets from majors’ divesting in the sector. But how much value can these often PE-backed independents and special operators squeeze from older oil assets before they look to offload — or even float them?

LNG: Cross-dressing commodity traders and portfolio players
LNG: Cross-dressing commodity traders and portfolio players
Aife Howse
2 December 2019

Commodity traders have always been customers to portfolio players in the LNG space. However, as traders up the signing of long-term offtake contracts, portfolio players are beginning to sell a large chunk of their LNG on the spot market as both parties compete for volume.

JTB: Gas finance with a twist
JTB: Gas finance with a twist
Sean Keating
19 November 2019

Pertamina EP Cepu's recent Jambaran-Tiung Biru project financing was a first on many levels for Indonesian oil and gas, setting benchmarks for multi-sourcing debt and bank appetite for domestic revenue risk. But will it be the first of many more similar deals?

TXF Originals

Malampaya's RBL underwritten
25 March 2020

Although unconfirmed by the borrower, Udenna Corp’s subsidiary UC Malampaya Philippines is said to have signed a reserves-based loan (RBL) with ...

Karoon Energy taps RBL for Bauna oil and gas field acquisition
24 March 2020

Karoon Energy is expected to reach financial close in June on the first tranche of debt stapled to its reserve-based lending (RBL) facility backing th...

US Exim withdraws from $17bn Rovuma LNG project
5 March 2020

US Exim has backed out of the $17 billion Rovuma LNG project financing in Mozambique. The US ECA had pledged a $2-$3 billion debt package to the Exxon...

Colombian Pacific coast LNG regas scheme tender shapes up
27 February 2020

Colombia’s Mines and Energy Planning Unit (UPME) are expected to launch the procurement process for the Pacifico Colombiano LNG regasification p...

Mozambique LNG pushing toward financial close
18 February 2020

Arrangers on the Mozambique LNG project are pushing to reach financial close before April 2020. If negotiations go past this point the backstop guaran...

TXF Data

Commodity Trade Finance Lender H1 2020

Bank USDm No %
1 TD Securities 6504m 1 32.1%
2 ING Bank 772m 7 3.8%
3 UniCredit 681m 5 3.4%
4 JP Morgan 677m 5 3.3%
5 Société Générale 588m 4 2.9%
6 Credit Suisse 488m 4 2.4%
7 Citi 486m 3 2.4%
8 Bank of China 466m 2 2.3%
9 Standard Chartered 450m 2 2.2%
10 Deutsche Bank 436m 3 2.2%

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The Animals
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