Latest Essar Group Stories
PITTSBURGH, Dec. 3, 2012 /PRNewswire/ -- U. S. Steel Tubular Products, Inc., a subsidiary of United States Steel Corporation (NYSE: X), and Butch Gilliam Enterprises LLC of Midland, Texas, announced today the signing of a definitive agreement to form a joint venture to provide tubular services to the energy industry in the Permian Basin. The joint venture, Patriot Premium Threading Services, has operations located in the heart of the Permian Basin in Midland. The new...
SAULT STE. MARIE, ON, Nov. 13, 2012 /PRNewswire/ - Essar Steel Algoma Inc. reported an EBITDA loss of $15.1 million and a net loss of $88.4 million for the three month period ending September 30, 2012. EBITDA is a meaningful indicator of the Company's profitability. The loss for the three month period reflects the impact of lower selling prices for the Company's products, lower volumes and higher costs compared to the three month period ending September 30, 2011. Compared to...
PERTH, Western Australia, Oct. 31, 2012 /CNW/ - Coalspur Mines Limited ("Coalspur" or "Company") (ASX: CPL, TSX: CPT) is pleased to present its quarterly report for the three months ending 30 September 2012. Highlights: -- The Company completed a scoping study on Vista Extension which confirmed the potential for an economic and technically feasible underground longwall mine. Highlights of the scoping study included: o Forecast...
SAULT STE. MARIE, ON, Oct. 29, 2012 /PRNewswire/ - Essar Steel Algoma Inc. announced today that Mr. James Hrusovsky, Chief Executive Officer has tendered his notice of resignation to be effective November 1, 2012. He will also resign as a Director of the Company. Mr. Kalyan Ghosh, Chief Commercial Officer, has been appointed Chief Executive Officer of the Company on an interim basis. Mr. Prashant Ruia, Essar Group Director and Chairman of the Essar Steel Algoma Board of...
SAULT STE. MARIE, ON, Sept. 20, 2012 /PRNewswire/ - Essar Steel Algoma Inc. announced today that it has closed the previously announced senior secured asset-based term loan in an aggregate principal amount of US$350 million. Deutsche Bank Securities Inc. acted as sole lead arranger for the term loan facility. The term loan has a maturity of two years and is secured against all of the assets of the Company, subject to the security interests over certain assets held for the...
SAULT STE. MARIE, ON, Sept. 12, 2012 /PRNewswire/ - Essar Steel Algoma Inc. confirmed today that the Company has engaged Deutsche Bank Securities Inc. to act as sole lead arranger and sole book-running manager for a senior secured asset-based term loan in an aggregate principal amount of up to US$350 million. The term loan is expected to have a maturity of two years and to be secured against all of the assets of the Company, subject to the security interests over certain assets...
SAULT STE. MARIE, ON, Aug. 13, 2012 /PRNewswire/ - Essar Steel Algoma reported positive EBITDA of $54.6 million and a net loss of $7.2 million for the three month period ending June 30, 2012 on shipments of 644,844 tons. EBITDA is a meaningful indicator of the Company's profitability. The results for the quarter reflect the impact of lower selling prices and higher costs compared to the three month period ending June 30, 2011. Compared to the same period of the prior year,...
HOUSTON, Aug. 9, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that it has completed all milestones and has issued a full notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. ("Bechtel") to construct the first two liquefaction trains of the Sabine Pass liquefaction project (the "Liquefaction Project"). The first liquefaction train is expected to start operations as early as 2015, with the second liquefaction train...
HOUSTON, July 31, 2012 /PRNewswire/ -- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE MKT: CQP) announced today that Sabine Pass Liquefaction, LLC ("Sabine Liquefaction") closed on a credit facility ("Credit Facility") that will be used to fund the costs of developing, constructing and placing into service the first two liquefaction trains of the Sabine Pass liquefaction project (the "Liquefaction Project"). The Credit Facility was upsized to an aggregate $3.6 billion and...
LONDON, July 23, 2012 /PRNewswire/ -- The Nigerian government has signed a Memorandum of Understanding with US firm Vulcan Petroleum Resources and Nigeria's Petroleum Refining and Strategic Reserve to build six new oil refineries in a deal worth $4.5 billion. Two of the plants, each of which will have a capacity of 30,000 barrels per day, are set to be operational within a year. Nigeria - Africa's top oil producer - has been held back by its lack of refining capacity,...
