Genel Energy sells interest in Iraq project
29th Oct 2015 15:41
(ShareCast News) - Oil and gas group Genel Energy has completed the sale of a 20% stake in the Chia Surkh project in Iraq to Turkish sector peer Petoil. In a statement released on Thursday, the London-listed company said Petoil will cover the costs of the acquisition by utilising Genel' share of the
Read moreBroker tips: Home Retail, Smiths Group, Genel Energy
21st Oct 2015 16:57
(ShareCast News) - Home Retail's interims did little to dispel the doubts of analysts at Canaccord Genuity about the ability of the company to turn around the financial performance of its Argos division. "The investment case on the shares hinges on a view of Argos, with Homebase in effect something
Read moreWednesday broker round-up
21st Oct 2015 10:44
(ShareCast News) - Genel Energy: JP Morgan Cazenove reiterates to overweight. Target price: 610.00p. UBS downgrades to neutral, reduces target price to 400.00p. Sse: Jefferies starts new coverage with a hold, sets target price at 1600.00p. Smiths Group: Citigroup upgrades to buy, raises target pric
Read moreUBS downgrades Genel Energy on gas business concerns
21st Oct 2015 09:31
(ShareCast News) - UBS downgraded Genel Energy to 'neutral' from 'buy' and cut the price target to 400p from 500p, highlighting concerns that an increasingly complex geopolitical landscape is raising the risk profile of the gas business. UBS said Genel's portfolio can be neatly split into two: an oi
Read moreGenel cuts full-year revenue and output guidance
20th Oct 2015 11:26
(ShareCast News) - Genel, the largest oil producer and holder of reserves and resources in the Kurdistan region of Iraq, cut its 2015 production and revenue guidance on the back of delays to payments for its exports from the Kurdistan regional government (KRG) and declining prices. The company downg
Read moreTuesday broker round-up
20th Oct 2015 11:15
(ShareCast News) - Domino's Pizza Group: Citigroup upgrades to buy, bumps up target price to 1,170.00p. Randgold Resources Ltd: Deutsche upgrades to buy, raises target price to 5,050.00p. Aveva Group: Berenberg Bank upgrades to buy, lifts target price to 2,450.00p. Dairy Crest Group: HSBC reiterat
Read moreGenel Energy's president retires
14th Oct 2015 08:57
(ShareCast News) - Mehmet Sepil has retired from his role as president of Genel Energy, the exploring company confirmed on Wednesday. Sepil, who founded the company and was its chief executive until it merged with Vallares in 2011, said he would retire with immediate effect. "Mehmet leaves a legacy
Read moreCredit Suisse sees slow recovery in oil, cuts targets
9th Sep 2015 09:06
(ShareCast News) - Demand for oil will recover as will prices, but more slowly and from a lower base, creating a challenge for European exploration and production companies, according to new research from Credit Suisse. "A prolonged downturn as we now envision creates greater challenges to the Europ
Read moreGulf Keystone to receive $12m from Kurdistan Regional Government
7th Sep 2015 12:28
(ShareCast News) - Gulf Keystone said the Kurdistan Regional Government has authorised the payment of $12m to be wired to the company's account in the next seven days. The independent oil and gas exploration and production company, which operates the Shaikan field in the Kurdistan region of Iraq, sa
Read moreGenel names former BP boss Hayward chairman; posts 41% production rise
13th Jul 2015 11:10
(ShareCast News) - Genel Energy said production in the first half increased 41% year-on-year and announced that as of 12 July, Rodney Chase resigned from the company and former BP boss Tony Hayward has been appointed chairman in his place. Murat Özgül, the former president of Genel's Turkish and Ira
Read moreSunday newspaper round-up: Energy and financial regulators, Sainsbury's and Supergroup
5th Jul 2015 16:03
The Big Six energy firms are expected to escape demands for a major break-up when the Competition and Markets Authority (CMA) this week announces the results of its lengthy review into competition in the industry. The competition regulator is expected to say that the vertical integration structure u
Read moreTuesday broker round-up
16th Jun 2015 08:49
Imperial Tobacco Group: JP Morgan moves to neutral from not rated with 3,550p target. Credit Suisse reinstates coverage with outperform and 3,600p target. British American Tobacco: Credit Suisse reinstates coverage at outperform with 3,800p target. HSBC: Santander ups to hold. TT Electronics: Bere
Read moreSector movers: Natural resources stocks weigh
15th May 2015 11:43
London-listed natural resources related stocks took another knock on Friday, as the Chinese economy continued to send mixed signals, Greece weighed on sentiment, and oversupply in the oil markets returned to hound trading. At 15:00 BST, the FTSE 100 was marginally in the red by 0.27% or 18.53 points
Read moreCommodities: Morgan Stanley reiterates attractive stance on Energy sector
21st Apr 2015 09:11
The decision over the weekend by the People´s Bank of China to cut its reserve requirement ratio for large financial institutional by 100 basis points, twice the usual amount, stoked demand for equities, but failed to ignite buying in industrial metals. Three-month copper futures ended the session w
Read moreShell-BG Group takeover expected to spark M&A fever in oil sector
8th Apr 2015 09:37
Shell's £47bn takeover offer for BG Group not only sent shares in the natural gas outfit soaring on Wednesday, but gave other stocks in the sector a big boost. The deal sparked speculation that it may mark the start of a new round of industry consolidation, not seen since the late 1990s, as business
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