Splash 247

Noble Group readies sale of oil and LNG units

Noble Group readies sale of oil and LNG units

Array
(
    [0] => WP_Term Object
        (
            [term_id] => 80
            [name] => Asia
            [slug] => asia
            [term_group] => 0
            [term_taxonomy_id] => 80
            [taxonomy] => category
            [description] => This is the Splash 24/7 news archive related to the Asian Region. News are sorted by release date, from the latest to the oldest.

Find here the updated list of the latest news about Asia. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 55
            [count] => 6669
            [filter] => raw
            [cat_ID] => 80
            [category_count] => 6669
            [category_description] => This is the Splash 24/7 news archive related to the Asian Region. News are sorted by release date, from the latest to the oldest.

Find here the updated list of the latest news about Asia. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Asia
            [category_nicename] => asia
            [category_parent] => 55
        )

    [1] => WP_Term Object
        (
            [term_id] => 59
            [name] => Gas
            [slug] => gas
            [term_group] => 0
            [term_taxonomy_id] => 59
            [taxonomy] => category
            [description] => This is the Splash 24/7 archive related to the gas sector news coming from all over the world. News are sorted by release date, from the latest to the oldest. 

Get the updated list of the latest news about gas and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 661
            [filter] => raw
            [cat_ID] => 59
            [category_count] => 661
            [category_description] => This is the Splash 24/7 archive related to the gas sector news coming from all over the world. News are sorted by release date, from the latest to the oldest. 

Get the updated list of the latest news about gas and logistics. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Gas
            [category_nicename] => gas
            [category_parent] => 54
        )

    [2] => WP_Term Object
        (
            [term_id] => 60
            [name] => Offshore
            [slug] => offshore
            [term_group] => 0
            [term_taxonomy_id] => 60
            [taxonomy] => category
            [description] => Stay updated on what's going on in the offshore industry by browsing the offshore news archive. Find the latest maritime and shipping news on Splash 24/7.

Read the latest news about offshore. Browse Splash 24/7 for more maritime and shipping news.

            [parent] => 54
            [count] => 3679
            [filter] => raw
            [cat_ID] => 60
            [category_count] => 3679
            [category_description] => Stay updated on what's going on in the offshore industry by browsing the offshore news archive. Find the latest maritime and shipping news on Splash 24/7.

Read the latest news about offshore. Browse Splash 24/7 for more maritime and shipping news.

            [cat_name] => Offshore
            [category_nicename] => offshore
            [category_parent] => 54
        )

)

With its debts ballooning embattled Noble Group, an Asian commodities giant, will likely offload its oil and LNG units next month.

A report from Alphabulk out this week suggests that the Singapore-listed company is on course to make a net loss of $1.9bn this year, taking its losses to $3.6bn over the past three years. Noble’s suffered a net loss of $1.9bn in the first half of this year.

Noble’s market value has plunged by 90% from $6bn in February 2015 to just over $400m. Its shares are down about 70%so far this year. Earlier this year it outlined plans to streamline operations and return to its roots, focusing on the Asian coal trades.

Reuters is now reporting that the Hong Kong-based group will select a buyer for its oil and LNG units by the middle of next month.

Share this article

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts