London 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
Read moreSoco Confirms Congo Presidential Decree Ratified Oil Rights
28th Jun 2010 07:38
LONDON (Dow Jones)--Soco International PLC (SIA.LN) Monday confirmed a Congolese presidential decree had ratified its rights to a key oil block. President Joseph Kabila on June 18 confirmed licenses to two blocks in Eastern Congo-Kinshasa, including the Soco one, that had been awaiting his appro
Read moreUganda Pres Holds Talks With Total, Cnooc Execs Over Oil Invest
26th Jun 2010 08:38
KAMPALA Uganda (Dow Jones)-The Ugandan president held talks with executives of China's Cnooc Ltd.(CEO), France-based Total SA (TOT) and UK-based Tullow Oil PLC (TLW.LN) over their investment proposals in the country's upcoming oil sector, the Ugandan presidency said late Friday. A presidential s
Read more2nd UPDATE: Congo Declines To Approve Key Tullow Oil Licenses
24th Jun 2010 17:42
(Rewrites, adds comment from Caprikat and Foxwhelp.) By Benoit Faucon Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Congo's government has declined to ratify U.K.-listed Tullow Oil PLC's (TLW.LN) licenses for two key oil exploration blocks, instead awarding them to companies owned by a rela
Read moreUPDATE:Tullow Stands By Claim As Congo Gives Blocks To Others
24th Jun 2010 15:31
(Adds more quotes from spokesman.) LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN) said Thursday that it had no doubt about the validity of its claim on two oil blocks in Congo and was reviewing its options after the blocks were awarded to unknown companies. A decree, supplied to Dow Jones Newsw
Read moreTullow Stands By Its Claim As Congo Gives Blocks To Other Cos
24th Jun 2010 13:49
LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN) said Thursday that it had no doubt about the validity of its claim on two oil blocks in Congo and was reviewing its options after they were awarded to unknown companies. A decree, supplied to Dow Jones Newswires by non-governmental website www.leganet.
Read moreCongo Presidential Decree Confirms Soco,Dominion Oil Rights
24th Jun 2010 12:49
LONDON (Dow Jones)--A long-awaited presidential decree in Congo-Kinshasa has confirmed rights to an oil block awarded to Soco International PLC (SIA.LN) and Dominion Petroleum Ltd. (DPL.LN), according to the country's official gazette. The decree, which was supplied to Dow Jones Newswires by non
Read moreSolo Oil: Now Full Party To The Ruvuma Joint Operating Pact
24th Jun 2010 09:43
LONDON (Dow Jones)--Solo Oil PLC (SOLO.LN) said Thursday it has now become a full party to the Ruvuma joint operating agreement with Tullow Oil PLC (TLW.LN) as operator owning 50% of the Lindi and Mtwara blocks in partnership with Aminex PLC (AEX.LN) owning 37.5% and Solo owning 12.5%. MAIN FACT
Read moreUPDATE: Uganda Oil Drill Plans To Stay On Schedule Despite Tax Spat-Official
23rd Jun 2010 19:46
(Adds Heritage comment) By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)-Oil drilling plans in Uganda's Lake Albert basin will remain on schedule despite the ongoing dispute over capital gains tax on the proposed sale of Heritage Oil PLC's (HOIL.LN) half stak
Read moreUganda Oil Drill Plans To Stay On Schedule Despite Tax Spat-Official
23rd Jun 2010 10:48
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)-Oil drilling plans in Uganda's Lake Albert basin will remain on schedule despite the ongoing dispute over capital gains tax on the proposed sale of Heritage Oil PLC's (HOIL.LN) half stakes in two oil blocks, the he
Read moreFTSE 250 movers: Housebuilders and retailers buoyant
22nd Jun 2010 15:23
The lower than feared rise in CGT was good news for housebuilders, which were also heartened that an immediate rise in CGT means there won't be a rush to sell houses as homeowners seek to take advantage of the current rate. Barratt, Persimmon, Taylor Wimpey and Redrow are among the stocks posting g
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