Tuesday, May 23, 2017

Noble Energy not connected to troubled Noble Group, it says - CYPRUS MAIL

MAY 23RD, 2017
Jean Christou

Noble Energy said on Tuesday it was not connected to the Noble Group, which is currently said to be serious financial difficulties.

“Local media groups are reporting on possible financial problems Noble Group is facing,” a statement from Noble Energy said.

“To avoid any possible misunderstandings due to the similarity of our names, Noble Energy Inc. would like to note that it is not related in any way to Noble Group. Any reports that suggest Noble Group is the same company that is operating in Cyprus EEZ is incorrect. Any implications concerning the financial situation of Noble Energy, Inc. based on Noble Group are also incorrect”

According to international reports, the Noble Group has struggled to repair investor confidence after setbacks in the past two years that included a questioning of its accounts by Iceberg Research and a commodities downturn that triggered a share price collapse, credit rating downgrades and a series of writedowns, asset sales and fund raising.