Uganda Bunyoro Kingdom Wants New Oil Law To Define Revenue-Split
8th Jun 2010 11:37
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 later this month, to ensure that it defines clearly the terms of oil revenue-sharing, a kingdom spoke
Read moreFTSE 100 movers: BP continues to suffer
24th May 2010 15:02
BP's woes in the Gulf of Mexico are dragging down its peers and the Footsie. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. A week ago, the cost was estimate
Read moreLondon afternoon: Back to square one
24th May 2010 13:42
Footsie has limped back into positive territory, helped by an about turn by the mining stocks. After spending the morning down in the dumps Rio Tinto is now the best performing mining stock as metal prices head northwards. Fellow mining stocks Xstrata and Anglo American join Rio on the rise but S
Read moreLondon midday: Resource stocks under the weather
24th May 2010 12:35
Resource stocks have driven the Footsie into the red after a bright start. The oil disaster in the Gulf of Mexico has cost BP about $760m (£525m) so far and the under-fire oil giant faces being "pushed out of the way" if its clean-up operation doesn't do better. So far 23,000 claims have been fi
Read moreLondon close: Shares limp higher
24th May 2010 10:50
On an largely directionless day for Footsie, the leading share index was just a few points higher at trading's close. Shares in BP were under pressure again. The oil giant followed what has become a daily update on the oil leak situation in the Gulf of Mexico with an announcement that it will pay
Read moreMixed drilling results at Tullow
19th May 2010 08:10
Oil group Tullow has seen mixed results from its latest batch of drilling on its acreage in Uganda and Gabon. The Nzizi-3 well in Uganda Block 2 successfully appraised the Nzizi gas field. The Noix de Coco-1 well in Gabon encountered wet gas but in poor quality reservoir sandstones. "The Nzizi-3 a
Read moreTullow agrees South America licence deal
17th May 2010 07:46
Tullow Oil has signed a heads of agreement with Staatsolie in relation to Block 47, a 2,369 sq km deepwater exploration licence offshore Suriname. The signing will enable the parties to finalise a production sharing contract for the Block and enhance Tullow's portfolio of high-impact exploration a
Read moreLondon open: Footsie starts lower
12th May 2010 08:42
London's top stocks opened slightly lower as David Cameron started his first full day as Britain's new prime minister. Cameron, the country's youngest prime minister for almost 200 years, will head a coalition government of the Conservatives and Liberal Democrats after a day of more dramatic twists
Read moreLondon pre-open: Small drop ahead
12th May 2010 07:38
The Footsie is expected to drop slightly when it opens to a new Conservative government after David Cameron was appointed Britain's new prime minister last night. Cameron, the country's youngest prime minister for almost 200 years, will head a coalition government of the Conservatives and Liberal D
Read moreTullow makes strong start to 2010
12th May 2010 07:04
Tullow Oil says it has continued to perform "very strongly" in 2010 and remains "very positive" about the outlook for the year. Significant progress has been made on the Ugandan pre-emption and farmdown, the Jubilee Phase 1 development project in Ghana remains on track for first oil in the fourth q
Read moreLondon close: Late rally pares losses
5th May 2010 17:16
Though tomorrow is the day of the UK General Election all eyes were on Greece today, as at least three people were reported dead as violent protests erupted in central Athens against the planned introduction of austerity measures. Stocks came off the bottom towards the end of the session, though th
Read moreLondon afternoon: Greek riots rattle investors
5th May 2010 14:53
Footsie is now nursing a triple digit fall as the downward trend seen in the last hour of the morning session accelerated over lunch as US investors woke up to television footage of Greeks rioting in the streets. Civil unrest in Greece has sent the price of oil and metals into decline with a predic
Read moreLondon close: S&P puts spanner in the works
28th Apr 2010 17:09
For the second day in a row the debt ratings agency Standard & Poor's has sent markets into a late swoon, this time with a downgrade on Spanish sovereign debt. Standard & Poor's (S&P) cut its long-term sovereign credit rating on Spain, saying the country is likely to see an extended period of subd
Read moreLondon afternoon: Footsie in positive territory
28th Apr 2010 14:40
The FTSE 100 is now in positive territory as heavily weighted index constituents such as Shell, BP, HSBC and Glaxo make headway, but the FTSE 250 index remains in the red. Higher oil prices helped Royal Dutch Shell post a sharp rise in earnings in the first quarter of 2010. Profit jumped to $4.9bn
Read moreLondon midday: Stocks off the bottom
28th Apr 2010 12:13
Blue-chips are beginning to recover their poise, helped by demand for heavyweight oil stocks in the wake of better than expected results from Shell, and a positive reaction to results from Glaxo, released at noon. Higher oil prices helped Royal Dutch Shell post a sharp rise in earnings in the first
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