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AP Moeller - Maersk A/S (MAERSKb.CO)

MAERSKb.CO on Copenhagen Stock Exchange

24 May 2017
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Latest Key Developments (Source: Significant Developments)

Maersk Oil says to cut up to 160 positions in Denmark
Monday, 9 Jan 2017 06:00am EST 

A.P. Moller-Maersk : Says Maersk Oil's Danish Business Unit (DBU) to simplify its organization; expects to reduce up to 160 positions . Says reorganization will run during the coming months . Says first phase to reconfigure the onshore organization will be completed during Q1 2017 . Says as part of first phase Maersk Oil DBU plans to consolidate all employees at its office in Esbjerg Further company coverage: [MAERSKb.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 03;)).  Full Article

Maersk Line to buy German container shipper Hamburg Süd in $4 billion deal - WSJ, citing sources
Thursday, 1 Dec 2016 10:15am EST 

:Maersk Line to buy German container shipper Hamburg Süd in $4 billion deal - WSJ, citing sources.  Full Article

DEA and Petoro to buy half of Edison's stake in Norway gas field
Thursday, 1 Dec 2016 05:21am EST 

Oil firm DEA says: Oil firms DEA and Norway's state-owned Petoro to each acquire 5 percent stakes in Norway's Dvalin natural gas field, formerly known as Zidane, from Italy's Edison . Edison to maintain 10 percent stake in Dvalin field, down from 20 percent . DEA to hold 55 percent stake in Dvalin, Petoro 35 percent, Edison 10 percent if transactions approved . In October, DEA said it will invest 10 billion Norwegian crowns ($1.18 billion) to develop the Norwegian Sea find together with its partners . Petoro and DEA have previously agreed to buy stakes in Dvalin from Austria's OMV and Denmark's Maersk Oil ($1 = 8.4623 Norwegian crowns) (Reporting by Stine Jacobsen, editing by Terje Solsvik) ((stine.jacobsen@thomsonreuters.com;)).  Full Article

Maersk Drilling enters 5-yr partnership with National Oilwell Varco
Monday, 21 Nov 2016 09:10am EST 

A.P Moller-Maersk's drilling unit Maersk Drilling : Says has entered into a five-year partnership with National Oilwell Varco to improve maintenance predictability for drilling equipment. . Says agreement covers Maersk Drilling's three deepwater D-class semi-submersibles as well as the four ultra-deepwater V-class drillships. . Says ultimate goal is to eliminate the need for quay side yard stays every five years. Further company coverage: [MAERSKb.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 03;)).  Full Article

Statoil says Stausholm resigns from board
Monday, 3 Oct 2016 01:59am EDT 

Statoil Asa : Says Jakob Stausholm leaves the board of directors .Stausholm has informed that he will resign from his position as member of the board of directors in Statoil ASA with immediate effect in order to avoid potential conflicts of interests following his new appointment as CFO of the Maersk group.  Full Article

A.P. Moller-Maersk appoints new Damco CEO, effective from Oct 1
Wednesday, 28 Sep 2016 01:51am EDT 

A.P. Moller-Maersk : Says Klaus Rud sejling, current head of East West Trades in Maersk Line, has been appointed CEO of its logistics company, Damco, with effect from Oct. 1 . Says current Damco CEO, Hanne B. Sorensen, has decided to leave Maersk Group Further company coverage: [MAERSKb.CO] (Reporting by Annabella Pultz Nielsen) ((Annabella.PultzNielsen@thomsonreuters.com;)).  Full Article

A.P. Moller-Maersk says to split into two companies
Wednesday, 21 Sep 2016 11:58pm EDT 

A.P. Moller-Maersk : Reorganising A.P. Moller-Maersk into two separate divisions; Transport & Logistics and Energy . Says Oil and oil related businesses, either individually or in combination, to be separated from A.P. Moller-Maersk . Progress update on strategic review and change of management . Says Transport & Logistics will consist of Maersk Line, APM Terminals, Damco, Svitzer and Maersk Container Industry based on a one company structure with multiple brands . Says Energy will consist of Maersk Oil, Maersk Drilling, Mersk Supply Service and Maersk Tankers . Soren Skou will continue as group CEO of A.P. Moller-Maersk . Says main growth focus of A.P. Moller-Maersk going forward will be delivering best in class transportation and logistics services as an integrated Transport & Logistics company . Says Maersk Line will grow market share organically and through acquisitions . Maersk Oil will mature existing key development projects, while keeping exploration activities and expenses at a low level . Says Jakob Stausholm will be appointed group CFO of A.P. Moller-Maersk as of 1 December . Says Kim Fejfer will step down as member of registered management effective on 1 October and as CEO of APM Terminals effective on 1 November.  Full Article

Statoil slashes cost of giant Sverdrup oil field, raises output forecast
Monday, 29 Aug 2016 01:09am EDT 

Statoil Asa : statoil: increasing the value of johan sverdrup . First phase is currently estimated at NOK 99 billion ($11.96 billion), a reduction of nok 24 billion since pdo was submitted. Present break-even is reduced to below usd 25 per barrel for phase 1 . Now seeing results of good cooperation between statoil, its partners and suppliers . Improvements for phase 1 have been achieved by higher drilling and well efficiency and high quality in project planning and execution . Estimate for full-field investment has been improved from a range of nok 170-220 billion in 2015 to nok 140-170 billion (2016 value) . Phase 1 production capacity is currently estimated at 440,000 barrels of oil per day . Pdo originally estimated phase 1 production capacity to be between 315,000 and 380,000 barrels of oil per day . Johan sverdrup partners agree on expanding production capacity on johan sverdrup by introducing an extra processing platform on field centre . This will increase expected full production capacity on johan sverdrup full field to 660.000 barrels of oil per day . Pdo estimated full production from johan sverdrup to be 550,000-650,000 barrels of oil per day . Final concept selection for future phases will be decided upon project pre-sanction . Since pdo for first phase was submitted range of full-field resource estimate has improved from 1.7-3.0 to 1.9-3.0 billion barrels of oil equivalents.  Full Article

Lundin Petroleum Q2 core earnings beat forecast, keeps 2016 production outlook
Wednesday, 3 Aug 2016 02:15am EDT 

Lundin Petroleum : Q2 ebitda $206.1 million (Reuters poll $181 million) vs $106.5 million in Q2 2015 . Q2 production 63.9 mboepd (Reuters poll 63,592 boepd) . Q2 net result $-48.3 million (Reuters poll $-14.4 million) vs profit of $59.9 million in Q2 2015 . Q2 revenues $265.3 mln (RTRS poll $256 mln) vs $157.8 mln in Q2 2015 . Performance on Edvard Grieg field continues to exceed expectations . Repeats 2016 production guidance of 65-75,000 boepd . Says Johan Sverdrup project is progressing according to plan and continues to firmly believe that we will see further costs savings as we progress with the project and as we finalise the definition of the Phase 2 concept selection . Says the full Sverdrup field development costs (phase 1 and phase 2) have also been revised down from between nok 170 and 220 billion (real 2015) to between nok 160 and 190 billion (real 2015) . The operator of Sverdrup is Statoil , while other partners include state-owned Petoro, Det norske and Denmark's Maersk Oil . Repeats that the latest cost estimate for Sverdrup phase 1 has been reduced to NOK 108.5 billion (nominal), a reduction of approximately 12 percent from initial estimate.  Full Article

S&P puts Maersk's BBB+ ratings on review for downgrade
Tuesday, 5 Jul 2016 02:45pm EDT 

Standard & Poor's: A.P. Moller–Maersk recently announced its undertaking of a strategic and structural review of its business set-up [nL8N19F2R4] . S&P says that the disposal of one or several of Maersk's main business units could form part of the review's outcome, and we think that such a split would hurt the group's business diversification . S&P therefore placing its BBB+ ratings on Maersk on CreditWatch negative . S&P says any change to the Maersk group's structure could lead to a deterioration of overall credit quality . S&P says it aim to resolve the CreditWatch within the next three months. Further company coverage: [MAERSKb.CO] (Copenhagen newsroom) ((copenhagen.newsroom@thomsonreuters.com; +45 33 96 96 55;)).  Full Article

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