|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||43.51 - 44.27|
|52 Week Range||42.65 - 56.82|
|Beta (3Y Monthly)||1.04|
|PE Ratio (TTM)||11.04|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||2.64 (6.10%)|
|1y Target Est||68.27|
Brexit has turned into a hostage situation. Doubtless the UK could inflict much harm on Ireland, particularly in agriculture: near 70 per cent of UK beef imports come from Ireland, for example. The UK must eventually do a trade deal with the EU because 46 per cent of UK exports go to the EU and 53 per cent of UK imports come from the EU.
Following the Anadarko acquisition, real estate is not a primary focus for Occidental, which is working on integrating functional aspects of the businesses.
Papua New Guinea has sent a team to Singapore to renegotiate its Papua LNG agreement with French oil major Total SA, the nation's petroleum minister said in a statement on Thursday, warning the talks could end "disastrously" for the gas project. The strong language from minister Kerenga Kua marked an about-turn from a statement 10 days earlier, when he announced the new government would stand by the gas deal agreed by the previous government with Total in April, with some minor changes.
GVC, the gambling group that owns Ladbrokes Coral bookmakers, has upgraded its full-year earnings forecast after a strong performance in its online business helped it to overcome losses resulting from stricter regulation in the UK. , GVC on Thursday posted a bullish update saying that the impact on profits following a cut to the maximum stake permitted on the high-speed slot machines known as fixed odds betting terminals were “better than initial expectations”. It added that earnings before interest, tax, amortisation and depreciation for the full year would be between £650m and £670m, ahead of analysts’ expectations of £630m.
The UK jobs market has remained resilient with the strongest earnings growth in 11 years and robust employment creation contrasting with recent signs of economic weakness. The solid earnings growth was helped by pay increases for some NHS staff and the increase in the national minimum and living wage rates in April.
“Land is really struggling under the pressures that we put on it at the moment,” said Jim Skea, who co-chairs the IPCC working group on climate change mitigation and a professor at Imperial College London.
The UK’s largest accountancy firms are preparing to purge risky or unprofitable audit clients after a string of corporate collapses and scandals have increased regulatory scrutiny of the sector. Big Four firms EY, KPMG, Deloitte and PwC and mid-tier accountants Grant Thornton and BDO have launched sweeping reviews of clients to weed out those they consider potentially problematic. Auditors warned that companies in volatile sectors, such as retail or outsourcing, and businesses that have faced criticism over their financial controls and governance were the most likely to be dropped.
Papua New Guinea signalled on Sunday it was backing a previously agreed liquefied natural gas (LNG) deal with French oil major Total SA PA , although it said that some terms still needed negotiating. The deal, for a project called Papua LNG, was agreed in April but put up for review after the prime minister who signed it was ousted in a parliamentary vote in May, following a political crisis caused by discontent over the distribution of resource riches. On Sunday, Petroleum Minister Kerenga Kua, who was appointed to the portfolio in June by new Prime Minister James Marape, said his government "in principle" stood behind the project.
Oil company is ramping up production at a much higher rate than its US-based peers. It also pays an attractive and growing dividend Continue reading...
Chevron (CVX) stock has risen 14% year-to-date to the current price of $124.2. Chevron stock is trading very close to its 52-week high price of $127.8.
(Bloomberg) -- Papua New Guinea’s petroleum minister said he’s completed his review of a recent natural gas agreement with Total SA and will recommend changes, creating a potential hurdle for the delayed $13 billion effort to double the nation’s exports of the fuel.The potential changes cover both regulatory and commercial terms of the so-called Papua LNG agreement and must be approved by the National Executive Council before submitting them to venture partners, which include Exxon Mobil Corp. and Oil Search Ltd., Kerenga Kua said in an interview Thursday.Kua said he’ll send his findings as soon as Monday to the council, a top policy making body, and expects a revised agreement with the companies completed within six weeks. In response, Total’s Chief Executive Officer Patrick Pouyanne pushed back against any potential overhaul.“All issues are capable of discussion and compromise,” Kua said. “Even though we may have our wish list and they may have their wish list, finding the middle ground where all of us can benefit is an important principle.”Oil Search shares added 0.6% to A$7.09 as of 10:43 a.m. in Sydney and are headed for a 6.3% rise this week. The Australia-based producer declined to comment. Exxon didn’t respond to requests for comment.“We are confident that it’s in the best interest of PNG to respect the agreement that has been signed in order to move forward with the project,” Pouyanne said on a conference call Thursday. “We expect the new government to respect” the deal signed by its predecessor, and Total has “many” LNG projects in its portfolio.Political Flash-PointSeparately, Newcrest Mining Ltd., Australia’s top gold producer, and Harmony Gold Mining Co. said they are facing a hurdle with the development of the $5.4 billion Wafi-Golpu gold-copper project in PNG amid heightened political uncertainty. The delay in permitting is associated in part with legal proceedings between national and provincial authorities and the PNG government continues to signal support for the project, Newcrest said in a statement Thursday.Liquefied natural gas exports have developed into a political flash-point for the country as its existing venture, the Exxon-led PNG LNG project, has been criticized as not benefiting the domestic economy as much as expected. The nation’s new prime minister, James Marape, swept to power in May amid a wave of criticism of the Papua LNG deal signed by his predecessor. He tasked Kua with reviewing the agreement after appointing him petroleum minister in June.“For too long we have allowed external forces to dictate the direction we take,” Marape said Thursday at the Lowy Institute in Sydney. The government must work with its partners “to ensure a fair and equitable distribution of our resources.”In the interview, Kua described the suggested changes as a “short list,” but declined to provide specifics. He said he’s been in communication with the partner companies.“We haven’t rejected the signed agreement,” he said.The review has delayed plans to double gas exports from Papua New Guinea, which involves a $13 billion expansion across separate but interlinked projects. Talks on the second gas agreement, for the Exxon-led P’nyang venture, won’t begin until the Papua LNG deal is revised, Kua said.Oil Search said last week that it expects front-end engineering and design work on new LNG production units to be pushed back pending those agreements. That may move a final investment decision until as late as 2021, which puts the expansion projects at risk of greater competition for building resources and customers, according to analysts at Sanford C. Bernstein.Marape said his government assembled a group of advisers to assess the country’s resource laws to find the right balance between encouraging foreign investment and boosting local involvement in the sector.(Updates with share price in 5th paragraph.)\--With assistance from James Thornhill, Francois de Beaupuy and Ranjeetha Pakiam.To contact the reporter on this story: Stephen Stapczynski in Singapore at email@example.comTo contact the editors responsible for this story: Ramsey Al-Rikabi at firstname.lastname@example.org, James Herron, Rakteem KatakeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Papua New Guinea's petroleum minister said a gas deal it agreed with French oil major Total SA could be re-drawn if a government review finds its terms unfavourable. The deal, for a project called Papua LNG, was agreed in April but put up for review after the prime minister who signed it was ousted in a parliamentary vote in May, following a crisis caused by discontent over the distribution of resource riches. Petroleum Minister Kerenga Kua, who was appointed to the portfolio last month by new Prime Minister James Marape, said he wanted to increase the government's share of resource revenue.
Total SA Chief Executive Patrick Pouyanne on Thursday urged Papua New Guinea's government to respect a gas agreement signed in May after the country's petroleum minister suggested the deal could be modified. Papua New Guinea's petroleum minister said earlier that the a deal for the Papua LNG project could be re-drawn if a government review finds its terms unfavourable. The deal was agreed in April but the former prime minister who signed it was ousted in a parliamentary vote a month later, following a crisis caused by discontent over the distribution of resource riches.
State-owned freight logistics firm Transnet plans to launch a tender next year for South Africa's first terminal to import liquefied natural gas (LNG) at Richards Bay port, with first gas expected to land in 2024, a senior official said on Thursday. South Africa is pushing to diversify its energy sources away from coal, which supplies more than 90% of its electricity, and to expand capacity to reduce power cuts that have hit growth. Transnet, which operates gas pipelines, railway lines and ports in South Africa, will lead the project after the World Bank's International Finance Corp pledged $2 million to help finalise the design, finance, construction and operation plans.