Uganda's Bunyoro Kingdom Wants Oil Revenues To Address Imbalances
11th Jun 2010 10:28
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--Uganda's Bunyoro Kitara Kingdom wants to be given legal rights to share oil revenues with the central government once production starts, to enable it address development bottlenecks that have caused historical imb
Read moreLondon open: BP revival lifts Footsie
11th Jun 2010 08:58
A revival by BP has started Footsie off on the front foot this morning after a surge by oil stocks on Wall Street overnight. BP is the best performer. The company yesterday reported the amount of oil is capturing from the Gulf of Mexico leak has risen to 15,800 barrels per day, though an upward rev
Read moreTullow Oil OK With Disclosure Of Uganda Oil Deal Details -Exec
11th Jun 2010 08:28
KAMPALA, Uganda (Dow Jones)--U.K.-based Tullow Oil PLC (TLW.LN) would not object to the disclosure of oil production sharing agreements signed with the Ugandan government, a company executive said Friday. According to Brian Glover, the general manager of Tullow Oil Uganda Ltd., the country's gov
Read moreUganda Oil Investments Hit $900M, To Pass New Oil Law -Fin Min
10th Jun 2010 16:55
KAMPALA, Uganda (Dow Jones)--Investments in Uganda's oil sector have hit up to $900 million as extensive oil exploration activities in the sector since 2006 continue, Uganda's finance and planning minister said Thursday. In a budget speech, Syda Bumba said more investments are anticipated as the
Read moreLondon close: Miners lift Footsie
9th Jun 2010 16:55
Footsie closed with strong gains after a volatile day for the leading share index. Mining stocks dragged the market higher as metal prices bounced on reports of an exports surge in China. A news agency is reporting that China's exports in May were 50% higher than a year earlier. That news has boo
Read moreLondon afternoon: Miners drive Footsie higher
9th Jun 2010 14:45
Mining stocks are dragging the market higher as metal prices bounce on reports of an exports surge in China. A news agency is reporting that China's exports in May were 50% higher than a year earlier. That news has boosted demand for the likes of Fresnillo, Kazakhmys, Xstrata and Vedanta. While si
Read moreSector movers: Software updates cheer investors
9th Jun 2010 13:56
Well-received updates from software stocks have sent the sector higher. Financial software provider Misys is to return more than $1bn to shareholders after selling the majority of its stake in its Allscripts subsidiary. The news sent the company's shares up by 20%. Meanwhile, the recent surge in t
Read moreLondon midday: Oil stocks slow Footsie
9th Jun 2010 12:04
The blue-chip index has limped back into the blue despite the weakness of oil stocks. Around three quarters of the market-value weighted index's constituents are higher but with heavy hitters BP, Shell and BG in the red the Footsie is struggling to make headway. BP investors are concerned by the ve
Read moreLondon open: Early gains for blue chips
9th Jun 2010 08:50
London's blue chips have opened firmer after yesterday's rebound by Wall Street. Royal Bank of Scotland is going well on a report in the FT that the state-owned bank has drawn up a shortlist for two key businesses that are expected to fetch about £4bn. BP, though, is lower with investors still con
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
9th Jun 2010 08:14
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0714 GMT [Dow Jones] Tullow Oil's (TLW.LN) Mahogany-5 appraisal well on Ghana's Jubilee oil field has come in as expected,
Read moreMARKET TALK: Tullow's Ghana Well Result As Expected - Panmure
9th Jun 2010 08:14
0714 GMT [Dow Jones] Tullow Oil's (TLW.LN) Mahogany-5 appraisal well on Ghana's Jubilee oil field has come in as expected, says Panmure Gordon analyst Peter Hitchens. "Given that this did not exceed expectations, we believe that the P50 reserve estimate is unchanged but believe that the range betwee
Read moreLondon pre-open: Stocks set to rise
9th Jun 2010 08:04
London's blue chips are expected to open firmer after yesterday's rebound by Wall Street. Financial software provider Misys is to return more than $1bn to shareholders after selling the majority of its stake in its Allscripts subsidiary. The sale of shares by Misys will enable Allscripts to procee
Read moreTullow Oil:Mahogany-5 Successfully Appraises Southeast Jubilee
9th Jun 2010 07:07
LONDON (Dow Jones)--Tullow Oil PLC (TLW.LN), an oil and gas company, said Wednesday the Mahogany-5 appraisal well has continued the successful appraisal of the area immediately to the southeast of the Jubilee Field offshore Ghana. MAIN FACTS: -The results of drilling, wireline logs and reser
Read moreTullow finds more oil offshore Ghana
9th Jun 2010 07:05
Tullow Oil has found oil at its Mahogany-5 appraisal well immediately to the southeast of the Jubilee field offshore Ghana, making it four out of five strikes in the region. The well, drilled down to 3,988 metres in water nearly three quarters of a mile deep, penetrated a total net oil pay of 23 me
Read moreUPDATE:Uganda Kingdom Wants Oil Law To Define Revenue Sharing
8th Jun 2010 12:47
(Adds quotes from government minister.) By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--Uganda's Bunyoro kingdom wants the government to revise the proposed oil bill, slated to be tabled in parliament this month, to ensure that it defines clearly the terms
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