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Spanish banks present takeover bids on Unnim

Published on Feb. 22, 2012

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Santander, BBVA, Popular e Ibercaja presented this Tuesday to the Banco de España their binding takeover bids over Unnim while Bankia and JC Flowers rejected bidding.

The banks interested in the acquisition of Unnim are evaluating the Protection Assets Scheme to cushion losses, which would be fueled by the resources of the Bank Deposit Guarantee Fund, that would benefit the potential buyer of the entity.

The most appealing entities to take over Unnim appear to be Banco Popular, which wants to increase their size and get ahead Banco Sabadell, and BBVA, which wants to gain presence in Cataluña. On the other hand, Ibercaja, even if they have been showing their interest in Unnim since a while ago, seems to have ...

Analysts expect a 15% growth in Gas Natural results

Published on Feb. 22, 2012

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Gas Natural Fenosa presents this Tuesday their 2011 results expecting 1.376 million euro earnings, according to the consensus of the analysts consulted by Bloomberg. These earnings would entail a 14.6% increase in regard to the 1.201 million euro of 2010.

According to the analysts, the improvement is justified by the fall of the financial expenditure as a result of the debt reduction. But the weakness of the Spanish market would weigh down the operating outcome of the gas fitter.

The company, presided by Salvador Gabarró, reduced their net profit a 0.7%, until 1.114 million euros, in the first nine months of the year, despite increasing their business turnover by a 7.2%, until 13.315 ...

Rajoy replaces 30 ambassadors

Published on Feb. 20, 2012

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The Council of Ministers approved last Friday the replacement and designation of 30 new ambassadors, representatives of Spain, in front of the United Nations, the NATO Council, the Political and Security Committee of the Council of European Union and the International Organizations placed in Geneva. The observer ambassador to the Organization of American States was also appointed..

The observer ambassador position will be occupied by Jorge Hevia, with a Law Degree* and who is the former Deputy Director General of the Mercosur Countries and Chile. Hevia has also worked in the Spanish diplomatic representations in the Dominican Republic, the Holy See and the Order of Malta. He also held in 2001 the position of Director General of Defense Institutional Relationships ...

Brazil to invest R$ 131 million to improve water supply in Paraná

Published on Dec. 14, 2011

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Brazil's Cities Ministry has approved 131 million reais in funding for Paraná state water utility Sanepar to improve potable water and sewerage throughout the state.

Sanepar will run 25 sanitation projects in 25 municipalities with a value of 99.4 million reais, and 14 potable water initiatives in 12 municipalities with an estimated value of 31.5 billion reais.

TNK-BP bids for Conoco Vietnam

Published on Dec. 10, 2011

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Russia's TNK-BP, developing a gas project in Vietnam acquired from its major shareholder BP, has also bid for ConocoPhillips assets in the Asian country, TNK-BP's head of upstream operations Alexander Dodds said last week.

TNK-BP, a 50-50 joint venture between BP and a quartet of Soviet-born businessmen, has already taken over some gas assets in the South China Sea from its British co-owner and expressed its interest in expanding in Vietnam. It has said it will bid for one block of nine blocks on offer by the Vietnamese government in a tender which opens this week.
State oil and gas group Petrovietnam has already said it will bid for the ConocoPhillips assets, three oil fields and one gas ...

A second CCGT has been inaugurated in Tenerife by Endesa

Published on Nov. 29, 2011

Read A second CCGT has been inaugurated in Tenerife by Endesa

Endesa inaugurates a second CCGT (combined cycle gas turbine) in the Granadilla plant. These implementations imply an increase in the total capacity installed from the previous existing 230 Mw, to the now upgraded 743 Mw.

The CCGT comprises two gas turbines and a steam turbine which are interconnected, and is equipped to operate as a closed-cycle facility or as an open-cycle facility, i.e. only using the two gas turbines. This structure allows the facility to meet the real grid needs of electricity with the plant production capacity.

This new CCGT now coordinates with the one installed in the Granadilla plant in 2006, and together with the rest of Endesa electric production facilities amounts to a total installed capacity of 1.059 Mw in the island.

The plant is cooled with sea water and complies with all Spanish and EU environmental regulations.

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