Petro Matad shares were down by more than a third in London yesterday after the Mongolian oil explorer said it would have to delay drilling the Snow Leopard play.
Saudi Arabia’s crown prince favours listing the Kingdom’s oil giant Aramco in New York rather than London, a news report said today.
Kuwait Energy Plc is planning an initial public offering in London that could value the oil and gas exploration business at as much as $1 billion, according to unnamed sources.
London’s top-flight index remained in the red as investor jitters over the Italian referendum and Wednesday’s crunch meeting on global oil supply continued to dog the market.
The FTSE 100 Index has slipped back after hitting four-month highs on Tuesday as falling oil prices once more weighed on the London market.
Top-flight shares plunged into the red after commodity falls weighed on heavyweight oil firms and miners.
Trading of Max Petroleum ordinary shares are due to be cancelled from the London Stock Exchange amid uncertainty over the company’s financial future.