|Bid||277.10 x 0|
|Ask||277.30 x 0|
|Day's Range||274.30 - 277.40|
|52 Week Range||166.80 - 301.00|
|PE Ratio (TTM)||158.81|
|Earnings Date||Jul 31, 2018|
|Forward Dividend & Yield||4.00 (1.41%)|
|1y Target Est||28.61|
May.02 -- Lundin Petroleum CEO Alexandre Schneiter discusses the company's earnings and performance. He speaks on "Bloomberg Daybreak: Europe."
OSLO (Reuters) - The largest labour union representing workers on Norwegian offshore oil drilling rigs has agreed to a new wage deal, it said on Friday, while a smaller union said it would ask its members ...
VANCOUVER/TORONTO (Reuters) - The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp (LUN.TO) and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources Ltd (NSU.TO) is designed to bag the Timok project in Serbia, but it had to bring on a partner to pick up Nevsun's Bisha mine in Eritrea. Lundin Mining's biggest shareholder is a private investment company owned by a Lundin family trust, with a near 13-percent stake, Thomson Reuters data shows.
VANCOUVER/TORONTO, May 17 (Reuters) - The weak human rights record of one of Africa's poorest countries is coming between Lundin Mining Corp and its pursuit of a prized European copper and gold asset. Cash-rich Lundin's latest run at fellow Canadian miner Nevsun Resources Ltd is designed to bag the Timok project in Serbia, but it had to bring on a partner to pick up Nevsun's Bisha mine in Eritrea. Lundin Mining's biggest shareholder is a private investment company owned by a Lundin family trust, with a near 13-percent stake, Thomson Reuters data shows.
The world's three largest oil traders are competing to buy the African arm of Brazil's Petrobras (PETR4.SA) that owns stakes in two major Nigerian offshore oil blocks, industry and banking sources with knowledge of the matter said, after submitting bids earlier this month. Last November, state-controlled Petroleo Brasileiro SA, known as Petrobras, launched the sale of 100 percent of Petrobras Oil & Gas BV, or Petrobras Africa, as part of the heavily-indebted company's plan to offload $21 billion (15.5 billion pounds) in assets through 2018 as it also faces a massive corruption scandal. Petrobras holds half the shares in the company while 40 percent are held by a subsidiary of Grupo BTG Pactual SA and 10 percent by Helios Investment Partners.
Lundin Petroleum CEO Alexandre Schneiter discusses the company's earnings and performance. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)
Formerly sceptical investors are buying back into oil majors in the hope that upcoming results will mark a turning point for energy stocks which have failed to keep pace with a surge in crude prices. Oil stocks could begin to close that gap if results live up to lofty expectations, with Goldman Sachs predicting the strongest free cash flow figures in a decade for the sector. Oil is the best-performing global asset this year, with Brent crude up 11.4 percent since January, but energy stocks have continued to lag the commodity.
Sweden's Lundin Petroleum has found more oil at its Luno II discovery off Norway and aims to submit a development plan for the field around the end of this year.
Norwegian employers and labour unions embarked on four weeks' of wage talks on Monday to stave off widespread strikes that risk impacting output in western Europe's biggest crude producer. Unlike most years, in which wages are set on an industry-by-industry basis to reduce complexity, the 2018 round rolls a majority of private sector firms into a single negotiation in a bid to resolve a stand-off over pension reform. "We've understood that there is no real will among employers to compromise from the outset," labour union negotiator Asle Reime, who will represent oil workers, told Reuters ahead of the talks.
LONDON/OSLO (Reuters) - Norway's Statoil (STL.OL) will raise its dividend, investments and exploration spending in 2018, it said on Wednesday, after higher oil prices helped it beat fourth-quarter earnings forecasts. Like other oil companies, Statoil is also benefiting from efficiencies it pushed through during the sector's downturn, when firms were forced to slash jobs, projects and investment. Its flagship project, the development of the Johan Sverdrup oilfield in the North Sea, now has a break-even price so low it challenges the efficiency of OPEC countries, said one analyst.
Statoil (STL.OL) has begun work on a proposal to build an onshore terminal in northern Norway for handling oil from the Arctic offshore Johan Castberg oilfield and other yet-to-be-developed resources, the country's energy minister and Statoil's chief executive said on Tuesday. A report on the proposal is expected in 2019, Minister of Petroleum and Energy Terje Soeviknes told Reuters on the sidelines of a conference. "We are working together with several other licence holders and operators to see if there is a basis for building a terminal," Statoil's Chief Executive Eldar Saetre, also speaking to Reuters, said.
Norwegian oil and gas investments will begin to rise in 2018 after falling for the last four years, helping drive output to near-record highs in the next five years, the Norwegian Petroleum Directorate (NPD) said on Thursday. By 2022, combined output volume of oil and gas from the country's fields could approach levels last seen in 2004, the highest on record, it added. Oil and gas would each account for about half of production, the regulator said.
Norwegian oil companies and their suppliers will hire more people in the coming years as the industry recovers from a slump and the price of crude rises, Norway's Minister of Petroleum and Energy Terje Soeviknes told Reuters on Tuesday. "All evidence points to a significant increase in employment in the oil industry," Soeviknes said on the sidelines of a conference. In late 2017, oil firms presented new field development plans that will trigger billions of dollars of investment, and more plans are on the way in 2018.
Efforts to find new oil off Norway are expected to double next year, preliminary company plans show, with activity rising in more mature areas after this year's disappointing Arctic campaign. The pressure to deliver is growing as this year's poor exploration results were partly to blame for a drop in interest in Norway's latest licensing round. Around 45-50 exploration wells, including wells to delineate previously made discoveries, could be drilled next year on the Norwegian Continental Shelf (NCS), up from around 26 wells this year.
Norway's trillion-dollar (£758 billion) sovereign wealth fund is proposing to drop oil and gas companies from its benchmark index, which would mean cutting its investments in those companies, the deputy central bank chief supervising the fund told Reuters, sending energy stocks lower. If adopted by parliament, the fund would over time divest billions of dollars from oil and gas stocks, which now represent 6 percent - or around $37 billion - of the fund's benchmark equity index. The aim is to make the Norwegian government's wealth less vulnerable to a permanent drop in oil prices.
It’s been a bad year for oil explorers in Norway’s Arctic: a record campaign in the Barents Sea yielded little; the most exciting well in years proved to be a flop; and Norwegians grew increasingly skeptical ...