上海指压飞机店2019

ADNOC in $4B pipeline investment deal with BlackRock, KKR

first_imgAbu Dhabi’s ADNOC has signed a multi-billion-dollar pipeline infrastructure partnership with KKR and BlackRock, two of the world’s leading institutional investment funds.As part of the transaction, a newly formed entity called ADNOC Oil Pipelines will lease ADNOC’s interest in 18 pipelines, transporting stabilized crude oil and condensate across ADNOC’s offshore and onshore upstream concessions, for a 23-year period.The entity will, in turn, receive a tariff payable by ADNOC, for its share of volume of crude and condensate that flows through the pipelines, backed by minimum volume commitments.Funds managed by BlackRock and KKR will form a consortium to collectively hold a 40% interest in the entity, while ADNOC will hold the remaining 60% majority stake. Sovereignty over the pipelines and management of pipeline operations remain with ADNOC.The transaction will result in upfront proceeds of approximately $4 billion to ADNOC and is expected to close in Q3 2019, subject to customary closing conditions and all regulatory approvals.“BlackRock and KKR’s long-term investment underlines the attractiveness of Abu Dhabi and the UAE as a rapidly emerging investment destination for international capital. This transaction marks the first time that leading, global institutional investors have deployed capital into key midstream infrastructure assets of a national oil company in the Middle East,” ADNOC said.As part of the deal ADNOC Oil Pipelines is leasing 18 pipelines of a total length of over 750km, and a total aggregate capacity of approximately 13,000 Mbblpd (gross).According to ADNOC, these assets represent key midstream infrastructure for Abu Dhabi’s energy ecosystem, allowing for the vast majority of Abu Dhabi’s crude oil production to be transported from ADNOC’s onshore and offshore upstream assets, to Abu Dhabi’s key takeaway outlets and terminals for conversion to other products, or on to global energy markets.Most importantly, this transaction marks a milestone for ADNOC and Abu Dhabi as it paves the way for further significant foreign direct investment into the UAE,” Sultan Al Jaber, UAE Minister of State and ADNOC Group CEOThe pipelines have underlying long-term minimum volume commitments and are supported by crude oil production from ADNOC Onshore and ADNOC Offshore –  onshore and offshore operating companies in ADNOC with global IOCs as JV partners, each with an average remaining concession life of over 35 years.Commenting on the transaction, Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, said: “The level and sophistication of the investors that we are attracting as financial partners to invest, alongside ADNOC, in these select pipeline assets is a clear reflection of the UAE’s stable, attractive and reliable investment environment. It also demonstrates the global investment community’s validation of ADNOC’s progressive and smart approach to unlocking value from its portfolio of assets while retaining control over their ownership and operation.”“This transaction is another example of the innovative steps we are taking to constantly optimize our assets and capital and deliver sustained value to both ADNOC and the UAE. We are creating a range of attractive opportunities for global and regional institutional investors to partner and invest alongside ADNOC to enhance value from our sizeable infrastructure base, drawing on our expertise in structuring and packaging value-enhancing partnership programs that preserve Abu Dhabi’s ownership and control of its assets. Most importantly, this transaction marks a milestone for ADNOC and Abu Dhabi as it paves the way for further significant foreign direct investment into the UAE.” Henry Kravis, Co-Founder, Co-Chairman and Co-CEO of KKR, said:  “We have created an innovative core midstream infrastructure platform alongside ADNOC and BlackRock that can be a catalyst for further foreign investment and broader economic transformation in the United Arab Emirates. Having long had a presence in the region, we appreciate the high quality of ADNOC as a partner and Abu Dhabi’s investor-friendly environment to enable our first direct investment in the region. With this transaction as a precedent, we believe there is substantial potential to do even more.”“For many years BlackRock has had strong relationships in the United Arab Emirates and across the region, so we are especially pleased to be able to play a role in this landmark transaction,” said Laurence D. Fink, Chairman and CEO of BlackRock. “Public-private partnerships are essential for investment to drive continued economic growth in the region, and we believe that today’s agreement among ADNOC, BlackRock and KKR will be followed by many more such partnerships to invest in the future growth of the region.”last_img read more

Women’s soccer: Strong final campaign wraps up historic career for Lavelle

first_imgSenior midfielder Rose Lavelle capped off what was already a historic career for the University of Wisconsin women’s soccer team when she became the first UW student-athlete selected No. 1 overall in their respective sport’s professional league.The Boston Breakers took Lavelle with the first pick in the 2017 National Women’s Soccer League draft in January after a standout four-year career with the Badgers, marking another accomplishment in her celebrated career at UW.After receiving Big Ten Freshman of the Year honors in her first year as a Badger, the Cincinnati, Ohio native just kept reaching new heights with the Badgers.Women’s soccer: Wisconsin’s Lavelle named to US U-23 National TeamThe Wisconsin women’s soccer team’s Rose Lavelle was named to the U.S. U-23 Women’s National Team roster Tuesday, and will Read…She became the first UW women’s soccer player ever to collect three All-America honors, earning second team honors in 2014 and 2016 while being named to the first team in 2015 — the first UW women’s soccer player to do so since 1991.She was also a MAC Hermann Trophy semifinalist in 2015, just the second player in program history to be that closely considered for college soccer’s most prestigious award.Lavelle also became the first Badger to be named Big Ten Midfielder of the Year, an honor she earned twice in 2015 and 2016 — the first person to earn the honor in back-to-back years since its inception in 2011.Women’s soccer: Rose Lavelle’s standout season earns her the Badger Herald’s Female Athlete of the SemesterThe Wisconsin women’s soccer team may have suffered an abrupt end to a promising season, but the shortcomings of the Read…The senior collected her fourth-straight First Team All Big Ten selection — the first four-time winner in program history — during a stellar senior campaign, though it’s more than just the individual accolades that sets Lavelle apart from most.On top of leading the Badgers in a slew of categories — points (16), goals (6), shots (74), shots on goal (31) and game-winning goals (2) while ranking second in assists (4) — Lavelle became the program’s first Senior CLASS Award winner, landing on the second team.The Senior CLASS Award, an acronym for Celebrating Loyalty and Achievement for Staying in School, focuses on the complete student-athlete. While the award takes competition into account, it also honors the attributes of community, classroom and character.Women’s soccer: UW says goodbye to five seniors from 2016 classAs the University of Wisconsin women’s soccer team enters their final two games of the regular season, the team prepares Read…Lavelle started in all 22 matches as she captained Wisconsin back to the NCAA Tournament for the first time since 2014. The senior even recorded the lone goal in a victory over Marquette that propelled the Badgers into the second round of the tournament, though they would eventually fall to Florida.With her career at UW in the rearview-mirror, Lavelle continues to excel on the field elsewhere. In April, she became the first player in program history to record a goal for the USA, accomplishing the feat in just her fourth appearance. Later in the month, she became the third Badger alum to play in the NWSL, which was created in 2012.After a truly unforgettable career at Wisconsin, Rose Lavelle is just getting started.last_img read more