Energy Business Recap: UAE CHOOSES Rio Tinto and Areva, Ukraine SELECTS Exxon Mobil
These were yesterday’s top stories:
The United Arab Emirates has chosen Rio Tinto (NYSE:RIO) and Areva Cip (ARVCF.PK) to supply it with fuel for its first nuclear power plant, along with the contracts with terms of 15 years worth $3 billion. Four other companies were also selected, from the United Kingdom, Russia, Canada and the United States.
Exxon Mobil’s (NYSE:XOM) consortium has been named by Ukraine to develop its Skifska gas field in the Black Sea, as the country attempts to free itself from increasingly expensive Russian gas imports. The consortium also includes Royal Dutch Shell (NYSE:RDSA).
Diamond Offshore Drilling Inc. (NYSE:DO) has placed an order for the building of a semi-submersible rig that would be capable of operations in depths up to 6,000 feet, which comprises a project with an estimated cost of $370 million. The rig will be constructed at “significantly lower cost” and in approximately half the time that would be typical for such rigs, according to the company.
Don’t Miss: Do Hedge Funds Still Believe in the GOLD RUSH?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.