Market info

Market info

Aibel to cut 300 jobs

29/10/2014

Norwegian oil, gas and renewables engineering and construction firm Aibel is set to cut 300 jobs. The company said the employees in Stavanger, Oslo, Haugesund and Stjordal would be affected by the move.

Market info

ROC production dips by 6%

29/10/2014

Roc Oil Company (ROC) has announced its third quarter results with production dropping by 6% following platform shutdowns. The company recently announced it would be taken over by Fosun International in a $441million deal.

Market info

UKOG submits bid in 14th licensing round

29/10/2014

UK Oil and Gas (UKOG) has submitted a bid for a 200km area covering the Southern part of the Isle of Wight as part of the UK 14th landward licence round. The company said its board had drawn the first $1million of a new $10million unsecured debt facility to submit its application.

Europe

Total sells Norwegian assets

28/10/2014

Total has agreed to sell off its interests in a number of Norwegian assets for $317million. An agreement has been signed by Total E&P Norge AS to sell off 8% of its shares in the Gina Krog field, together with its interests in the mature fields of Vilje and Vale at 24.23% and 6% share in Morvin to PGNiG Upstream International.

Market info

Salamander in takeover talks

27/10/2014

Salamander Energy could become involved in a bidding war after being approached by Ophir Energy and a consortium led by Compania Espanola de Petroleos (CEPSA) and Jynwel Capital. The company said it was currently in talked with both Ophir and the CEPSA Consortium regarding their respective proposals.

Market info

Oil prices begin to steady

20/10/2014

The price of Brent crude has steadied at $86 a barrel after the announcement of a cut in Saudi-Kuwait oil output. Production at the Khafji oilfield has been stopped temporarily for environmental reasons.

Market info

Oil prices start a slow climb

17/10/2014

Blue-chip shares were back in positive territory today after steep losses earlier in the week left the FTSE 100 Index at levels not seen since June last year.

Market info

Oil price fall hits energy stocks

14/10/2014

A fresh fall in the price of oil put pressure on energy giants BP and Royal Dutch Shell during another session of weakness for global investors. Brent crude slipped another 1% to 88 US dollars a barrel after the International Energy Agency cut its forecast for oil demand growth this year by 200,000 barrels a day to 700,000 barrels a day.

Market info

Oil sinks on glut concerns as US futures rise

14/10/2014

Crude oil dropped in New York, extending declines from a 22-month low amid concern over a global glut in the commodity. Australian stocks climbed with US index futures after the Standard & Poor’s 500 Index capped its biggest three-day loss since 2011, while gold held gains.

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