FTSE 100 movers: Oil firms in demand
2nd Jul 2010 17:09
The potential bid for Dana Petroleum appears to have encouraged buying in its larger oil and gas peers. Tullow Oil and Cairn Energy lead the Footsie risers. BP, though, is going the other way as it considers what it can sell to help pay for the Gulf of Mexico spill. The Australian government's d
Read moreLondon close: Stocks cling on to gains
2nd Jul 2010 16:57
Leading shares went into a swoon in the final two hours of the trading session, taking their lead from the US which, after spending a while to analyse the non-farm payrolls data, moved lower. Despite coming off the top in late afternoon Footsie finished the day in positive territory, largely due t
Read moreLondon afternoon: Shares recover from US jobs jolt
2nd Jul 2010 14:16
The release of US jobs data checked Footsie's rise, prompting a 25 point fall in a matter of minutes, but the blue-chip index has since resumed its cautious climb. US jobs data for June came in worse than expected overall, but it was a mixed message with the unemployment rate falling to a 12-month
Read moreLondon midday: Stocks steady ahead of US jobless
2nd Jul 2010 12:22
Footsie ended the morning on or around its high for the day but trading is quiet ahead of the release this afternoon of the US non-farm payrolls data. Resource stocks continue to lead the way while banks claw back some of their recent losses as fears over European banks' balance sheets recedes. Da
Read moreLondon open: Early gains for Footsie
2nd Jul 2010 08:41
London has recouped some of yesterday's losses helped by the Korean interest in Dana Petroleum and an upbeat trading statement from Wickes owner Travis Perkins. Dana Petroleum last night confirmed the talks with a potential bidder, widely reported to be South Korean national oil company KNOC. The s
Read moreUPDATE:Tullow:First Oil From Ghana Jubilee Field In Nov Or Dec
1st Jul 2010 10:23
(Adds output detail.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The first oil will be produced from Ghana's Jubilee field in November or December and output will reach 120,000 barrels a day within six months, field operator Tullow Oil PLC (TLW.LN) said Thursday. The
Read moreTullow Oil: Ghana's Tweneboa Field May Hold 1.4B BOE Reserves
1st Jul 2010 09:40
LONDON (Dow Jones)--Ghana's Tweneboa and Jubilee oil fields could contain up to 1.4 billion and 1.5 billion barrels of oil equivalent in oil and gas reserves respectively, said field operator Tullow Oil PLC (TLW.LN) Thursday. This represents a slight decrease in the total resource upside estimat
Read moreNorthern Petroleum Initiates Strategy To Raise Activity, Funds
30th Jun 2010 10:25
LONDON (Dow Jones)--Northern Petroleum PLC (NOP.LN), an independent oil and gas exploration, development and production company, said Wednesday it has initiated a change of strategy to increase activity and greater progress in realizing the potential of its assets. MAIN FACTS: -An emphasis i
Read moreUganda Minister Outlines Oil Production Deals To Parliament
30th Jun 2010 09:34
KAMPALA, Uganda (Dow Jones)--Uganda's energy and minerals development minister has outlined the country's oil production-sharing agreements with private oil exploration companies to parliament Tuesday, yielding to persistent demands for details of the agreements by lawmakers. The agreements stip
Read moreLondon close: Footsie dives on economic concerns
29th Jun 2010 16:31
London's leading shares ended with heavy losses as concerns about the global economy resurfaced again. Traders were nervy in Europe about bank payments that need to be made to the European Central Bank this week, while triple-digit falls on Wall Street added to London's woes. As in London, US in
Read moreLondon afternoon: Stocks dive deeper
29th Jun 2010 14:27
Expectations of a triple-digit fall on the Dow Jones index when Wall Street opens has added to London's woes. As in London, US investors are concerned that China's economy is not likely to grow at the rate previously anticipated. US based research group the Conference Board said overnight that its
Read moreUPDATE: Uganda Ups Security Along W Border After Rebel Attack
29th Jun 2010 14:21
(Adds confirmation of attack) KAMPALA, Uganda (Dow Jones)--The Ugandan army has increased its presence along the country's oil-rich western border with the volatile Eastern Congo following a rebel attack that left 16 people dead, an army spokesman said Tuesday. The Ugandan rebel group, the
Read moreLondon midday: Footsie waves goodbye to 5,000
29th Jun 2010 12:06
Footsie fell below 5,000 as mining shares tanked in the morning session on concerns that China's economy is not likely to grow at the rate previously anticipated. US based research group the Conference Board said its China leading economic index rose just 0.3% in April, a sharp revision down from
Read moreUganda Won't Budge On Tax Dispute With Heritage - Minister
29th Jun 2010 11:59
KAMPALA, Uganda (AFP)--Uganda said Tuesday it won't allow Canada's Heritage Oil Corp. (HGOCF) to sell its share of the country's oil reserves until the company agrees to pay a 30% capital gains tax. Heritage has for several months been trying to sell the deposits it controls to London-listed Tul
Read moreUganda Tightens Security Along Western Border Over Rebel Threat
29th Jun 2010 11:24
KAMPALA, Uganda (Dow Jones)--The Ugandan army has increased its presence along the country's oil-rich western border with the volatile Eastern Congo over a rebel threat, an army spokesman said Tuesday. According to Major Patrick Kamara, the spokesman of Uganda's second army division, the Ugandan
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