PEMEX

Kinder Morgan Closes on the $1.815 Billion Acquisition of NextEra Energy Partners’ South Texas Assets

Retrieved on: 
Thursday, December 28, 2023
Energy, Other Energy, Oil, Gas, Eagle Ford, Dallas, Hand, Acquisition, KMI, HEP, Debt, Adjustment, Kinder Morgan, PEMEX, GAAP, NextEra Energy

Kinder Morgan, Inc. (NYSE: KMI) today closed on its previously announced $1.815 billion acquisition of NextEra Energy Partners’ South Texas assets (STX Midstream), which includes a set of integrated, large diameter high pressure natural gas pipeline systems that connect the Eagle Ford basin to key growing Mexico and Gulf Coast demand markets.

Key Points: 
  • Kinder Morgan, Inc. (NYSE: KMI) today closed on its previously announced $1.815 billion acquisition of NextEra Energy Partners’ South Texas assets (STX Midstream), which includes a set of integrated, large diameter high pressure natural gas pipeline systems that connect the Eagle Ford basin to key growing Mexico and Gulf Coast demand markets.
  • Dos Caminos recently placed in service a 62-mile pipeline connecting HEP’s existing midstream pipeline and facilities in Webb County, Texas to KMI’s new Eagle Ford pipeline, which was placed in service on November 1, 2023.
  • This portfolio of assets is highly contracted, with an average contract length of over 8 years.
  • Expected acquisition EBITDA multiples, Net Debt and Adjusted EBITDA are non-GAAP measures.

AM Best Downgrades Issuer Credit Rating of Kot Insurance Company AG

Retrieved on: 
Tuesday, November 7, 2023
Finance, Data Analytics, Banking, Professional Services, Insurance, Good, AM Best, PEMEX, Credit, News, Pemex, AM, FSR, Risk management, Risk, ALL, Reinsurance

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb+” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Kot Insurance Company AG (Kot) (Switzerland).

Key Points: 
  • AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb+” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Kot Insurance Company AG (Kot) (Switzerland).
  • The downgrading of the Long-Term ICR reflects the further deterioration of PEMEX’s credit profile since AM Best’s last rating review.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Kinder Morgan to Purchase NextEra Energy Partner’s STX Midstream

Retrieved on: 
Monday, November 6, 2023
Energy, Other Energy, Oil, Gas, Kinder Morgan, HEP, NYSE, Morgan, Dampier to Bunbury Natural Gas Pipeline, PEMEX, NextEra Energy, EBITDA, Eagle Ford, Dallas, Acquisition, Natural Gas Pipeline Company of America, Hand, KMI, Hart–Scott–Rodino Antitrust Improvements Act, LDC, Petroleum, LNG

Kinder Morgan, Inc. (NYSE: KMI) today announced that it has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion.

Key Points: 
  • Kinder Morgan, Inc. (NYSE: KMI) today announced that it has agreed to acquire NextEra Energy Partner’s South Texas assets, STX Midstream, for $1.815 billion.
  • STX Midstream includes a 90% interest in the NET Mexico pipeline; MGI Enterprises, a PEMEX affiliate, owns the other 10%.
  • STX Midstream owns and operates Eagle Ford Midstream, a 158-mile residue line connecting the Eagle Ford basin to the Agua Dulce Hub in Nueces County, Texas.
  • Eagle Ford Midstream is connected to multiple pipeline systems, including KMI’s Tennessee Gas Pipeline, Kinder Morgan Tejas Pipeline and Natural Gas Pipeline Company of America.

Paratus Energy Services provides a trading update for Q1 2023

Retrieved on: 
Monday, June 19, 2023
Risk, Transformation, Seadrill, Convertible, Pride International, Valaris plc, Sapura Energy, The Company, PEMEX, QHSE, SCM, Vasco Seabra, S.A, Schlumberger, Video game, Airline, Management, EBITDA, Paratus, Archery

HAMILTON, Bermuda, June 19, 2023 /PRNewswire/ -- Paratus Energy Services Ltd. ("Paratus" or the "Company") today announced a trading update for the first quarter 2023 and updates on Paratus, its subsidiaries and associated companies ("Paratus Group").

Key Points: 
  • HAMILTON, Bermuda, June 19, 2023 /PRNewswire/ -- Paratus Energy Services Ltd. ("Paratus" or the "Company") today announced a trading update for the first quarter 2023 and updates on Paratus, its subsidiaries and associated companies ("Paratus Group").
  • In the first quarter ending March 31, 2023, Paratus generated $43 million in revenue and $12 million in EBITDA[1].
  • In the fourth quarter ending December 31, 2022, Paratus generated $52 million in revenue and $24 million in EBITDA1.
  • During the first quarter period ending March 31, 2023, Paratus' wholly owned subsidiary SeaMex Holdings, Ltd. ("SeaMex") and its subsidiaries (collectively with SeaMex, "SeaMex Group") generated $43 million in revenue and $15 million in EBITDA.

AM Best Affirms Credit Ratings of Kot Insurance Company AG

Retrieved on: 
Wednesday, November 9, 2022
Insurance, Professional Services, ICR, Risk management, Risk, FSR, AM Best, Good, Credit, AM, News, Association, ALL, Credit rating agency, PEMEX, Pemex, Industry, Insurance

AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ (Good) of Kot Insurance Company AG (Kot) (Switzerland).

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of bbb+ (Good) of Kot Insurance Company AG (Kot) (Switzerland).
  • The Credit Ratings (ratings) reflect Kots balance sheet strength, which AM Best assesses as very strong, its strong operating performance, neutral business profile and appropriate enterprise risk management.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .

Machine Safety Market Size Valuation Worth USD 7.25 Billion in 2028 | Strict Machine Safety Regulations by Global Safety Standard Agencies and Rise in Demand From Oil and Gas Industries are Key Factors Driving Industry Demand, Says Emergen Research

Retrieved on: 
Tuesday, May 24, 2022
ABS, Schneider Electric, Electricity, Siemens, DCS, ABB, Pakistan Library Automation Group, USD, Architecture, Dam safety system, English v. General Electric Co., Accident, Honeywell, PEMEX, Safety, Adoption, Rockwell Automation, AES, Government of Japan, CAGR, Government, Growth, Oil, Instrumentation

Increase in government funding for the establishment of new and updating of existing manufacturing units is a key factor driving the market growth.

Key Points: 
  • Increase in government funding for the establishment of new and updating of existing manufacturing units is a key factor driving the market growth.
  • For instance, the Government of Japan announced an assistance of USD 2.2 Billion to domestic companies to set up new manufacturing units.
  • Adoption of industrial automation process across different verticals such as oil and gas, automobile, and manufacturing is also expected to drive the market growth in a positive direction.
  • This has led to rise in demand for safety systems for pipelines in oil and gas industries.

Machine Safety Market Size Valuation Worth USD 7.25 Billion in 2028 | Strict Machine Safety Regulations by Global Safety Standard Agencies and Rise in Demand From Oil and Gas Industries are Key Factors Driving Industry Demand, Says Emergen Research

Retrieved on: 
Tuesday, May 24, 2022
ABS, Schneider Electric, Omron, Electricity, Siemens, DCS, ABB, Pakistan Library Automation Group, USD, Architecture, Dam safety system, English v. General Electric Co., Accident, Honeywell, PEMEX, Safety, Adoption, Rockwell Automation, AES, Government of Japan, CAGR, Government, Growth, Oil, Instrumentation

Increase in government funding for the establishment of new and updating of existing manufacturing units is a key factor driving the market growth.

Key Points: 
  • Increase in government funding for the establishment of new and updating of existing manufacturing units is a key factor driving the market growth.
  • For instance, the Government of Japan announced an assistance of USD 2.2 Billion to domestic companies to set up new manufacturing units.
  • Adoption of industrial automation process across different verticals such as oil and gas, automobile, and manufacturing is also expected to drive the market growth in a positive direction.
  • This has led to rise in demand for safety systems for pipelines in oil and gas industries.

AM Best Affirms Credit Ratings of MAPFRE México, S.A.

Retrieved on: 
Thursday, October 14, 2021
Insurance, Professional Services, Industry, Growth, Credit, MAPFRE, AM Best, Policy, Insurance, AM, USD, PEMEX, Perception, ALL, News, Life, ERM, Acquisition, Data, Risk management, Reinsurance

The outlook of these Credit Ratings (ratings) is stable.

Key Points: 
  • The outlook of these Credit Ratings (ratings) is stable.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • For information on the proper use of Bests Credit Ratings, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

AM Best Revises Issuer Credit Rating Outlook to Negative for Kot Insurance Company AG

Retrieved on: 
Thursday, October 14, 2021
Banking, Professional Services, Insurance, Finance, Industry, Credit, FSR, AM Best, Association, AM, Pemex, Insurance, PEMEX, ALL, News, Risk management, Good, Data

AM Best has revised the Long-Term Issuer Credit Rating (Long-Term ICR) outlook to negative from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of bbb+ (Good) of Kot Insurance Company AG (Kot) (Switzerland).

Key Points: 
  • AM Best has revised the Long-Term Issuer Credit Rating (Long-Term ICR) outlook to negative from stable and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of bbb+ (Good) of Kot Insurance Company AG (Kot) (Switzerland).
  • The revision of the Long-Term ICR outlook to negative from stable reflects a weakening in PEMEXs credit profile due to ongoing negative free cash flow, high debt maturities and the resultant liquidity strain.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

Talos Energy Files Notices Of Dispute Regarding Zama In An Effort To Achieve A Mutually Beneficial Resolution

Retrieved on: 
Friday, September 3, 2021
Letter, Acquisition, PEMEX, Hydrocarbon, Efficiency, Carbon, Notice, Collapse of Lotus Riverside Block 7, Ministry of Energy, Bilateral investment treaty, TALO, Federal government of Mexico, Company, Front-end loading, Safety, Talos, Ministry, SENER, Industry, Ownership, Talos Energy, Mexico–United States relations, Loss, Government, Agreement, Water, NYSE, Practice of law, Petroleum, Oil

The dispute is over decisions taken by SENER, including the designation of PEMEX as the operator of a yet-to-be unitized asset.

Key Points: 
  • The dispute is over decisions taken by SENER, including the designation of PEMEX as the operator of a yet-to-be unitized asset.
  • The aim is to resolve the dispute amicably through consultations and negotiations and avoid the need for further legal action, including arbitration.
  • Talos will continue to engage in good faith with the representatives of the Government of Mexico seeking to achieve a fair and mutually beneficial agreement.
  • These Notices of Dispute provide the opportunity for an initial phase of negotiation and consultation between the parties in an attempt to resolve the controversy.