Bermuda-based Ship Finance International Ltd., owner of most of the oil tankers operated by Frontline Ltd., said it appointed Ole Hjertaker as chief financial officer.

Hjertaker, 39, is currently an investment banker with DnB Nor Markets, Ship Finance said. The company didn?t say who he would replace. Inger Klemp was appointed chief financial officer three months ago, according to the company?s website.

MOSCOW (Bloomberg) ? OAO Mobile TeleSystems, eastern Europe?s biggest cellular operator, plans to buy back as much as ten percent of its stock from holders of the company?s American depositary receipts to profit from any future share price rise.

The company will buy back the ADRs on the open market or through privately negotiated transactions which could be funded though Mobile TeleSystems? own cash flows, or credit notes or existing credit facilities, the company said in an e-mailed statement. The shares will be bought out through MTS Bermuda, a wholly owned subsidiary, over the period of 12 months and the buyback is subject to the approval by the Russian Federal Anti- Monopoly Service. Melamed said the shares could also be used in merger and acquisition deals or to create new instruments for borrowing such as convertible bonds.

OSLO (Bloomberg) ? SeaDrill Ltd., an oil-drilling company operated from Norway, expects energy companies to delay drilling plans in 2008 because of limited rig capacity.

?There will not be enough capacity in 2008,? chief executive officer Kjell Jacobsen of SeaDrill Management said at a presentation in Oslo. ?We will see drilling programmes being deferred into the future.?

Rental prices for drilling rigs have surged as rising energy prices encourage companies such as BP Plc to accelerate the hunt for new oil and gas deposits. SeaDrill, which earlier this year bought Norway?s Smedvig ASA, said last week operational results for the second half of 2006 will be higher than in the first half because of increased rates and income from more vessels.

Bermuda-based SeaDrill was set up last year by shipping billionaire John Fredriksen, who holds about 36 percent of the company. After the acquisition of Smedvig, the company is managed from the city of Stavanger on Norway?s southwest coast.

Bermuda-based tanker company Nordic American Tanker Shipping, Ltd. has increased its credit facility from $300 million to $500 million, the company said. Herbj?rn Hansson, chairman and chief executive officer, said: ?The increased credit facility with no change in terms demonstrates our lenders? confidence in NAT and its operating model. We have recently announced our agreements to acquire three additional modern double hull Suezmax tankers, bringing our fleet to 12 vessels by the end of November.