Sevan Drilling ASA rose the most in five months in Oslo as Pareto Securities ASA said a recent drop in its shares offers a chance for Seadrill Ltd. to boost its stake and as the driller reduces investor concern about funding.
Prosafe SE dropped the most in seven months in Oslo after DNB ASA advised investors to sell shares in the supplier of floating hotels for offshore oil workers because of a risk that lower earnings will lead to a reduced dividend.
Aker Solutions ASA, an oil services company controlled by billionaire Kjell Inge Roekke, advanced the most in a week in Oslo trading after winning a larger-than- expected contract from Total SA in the Republic of Congo.
John Fredriksen, the richest shipping investor, is spending $2.6 billion on the biggest fleet of fuel-efficient ships in history, betting that record energy costs and a global capacity glut won’t ease any time soon.
Brazilian equity sales have slowed so much that Louis Dreyfus Holding BV, the world’s second- largest sugar-cane processor, is dangling a money-back guarantee to investors who buy shares in its initial public offering.
Petromena ASA, an oil services firm in bankruptcy, said its $800 million lawsuit against Deutsche Bank AG accusing the lender of putting its interest before the company’s by pulling out of a refinancing deal should be heard in Norway.
Seadrill Ltd., controlled by Norway’s John Fredriksen, dropped the most in two months in Oslo after downtime for its deepwater rigs exceeded guidance and as one of its units took longer than planned to start a new assignment.
The flow of much of the world’s oil is controlled from a small suite of offices perched over a Tiffany & Co. store in the Chelsea section of London. That’s where John Fredriksen, a Norwegian shipping magnate worth $13.2 billion, manages the world’s largest fleet of supertankers, the most valuable deep-water drilling company and an armada of about 128 other vessels that carry minerals, grains and liquefied gases.