|Bid||42.79 x 0|
|Ask||42.85 x 0|
|Day's Range||42.08 - 43.77|
|52 Week Range||38.05 - 254.60|
|Beta (5Y Monthly)||1.09|
|PE Ratio (TTM)||4.56|
|Earnings Date||Mar 12, 2020|
|Forward Dividend & Yield||0.04 (7.39%)|
|Ex-Dividend Date||Aug 29, 2019|
|1y Target Est||3.24|
British stocks edged higher on Monday, with companies sensitive to Chinese demand getting a boost from the country’s efforts to limit the economic fallout from the deadly coronavirus.
Imagine you’re a reporter at an international news organisation who, due to a sequence of inopportune events or perhaps a clerical error, writes a weekend column about London markets. Jupiter Fund Management has agreed to buy Merian Global Investors, bringing together two of the UK’s most popular investment groups among retail customers. Jupiter’s board confirmed over the weekend it was in advanced discussions with its smaller rival, which is best known for its stockpicker Richard Buxton, and announced on Monday that it had agreed a deal.
(Bloomberg) -- Sign up to our Next Africa newsletter and follow Bloomberg Africa on TwitterTullow Oil Plc said it received approval from Ghanaian authorities to flare gas when necessary to support its offshore fields.The permission will assist heavily indebted Tullow to support production at operations that failed to meet their initial output guidance for 2019, contributing to a terrible year that also saw delays at East African projects, disappointing drilling results in Guyana and the resignation of Chief Executive Office Paul McDade.Tullow will resort to flaring when it’s unable to ship gas ashore in order to “maintain the integrity of the Jubilee and TEN fields,” the company said in an emailed response to questions.Ghana’s agreement with Tullow entitles the West African nation to free deliveries of gas that the company extracts with crude from its fields. However, the country’s contractual obligations with other gas suppliers such as Eni SpA have rendered some of Tullow’s deliveries surplus to requirement.In the absence of a flaring agreement, Tullow has little choice but to inject the unwanted gas back into the reservoirs, a process which could compromise their stability and weigh on production, according to two people familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly.Tullow declined to elaborate further, while a spokesman for Ghana’s energy ministry didn’t answer calls or respond to text messages requesting comment.Output from new oil fields helped Ghana’s economy to expand at one of the fastest rates in Africa over the past three years. While the country also relies on gold and cocoa for exports, a potential shortfall in revenue from crude would weigh on a widening budget deficit and persistent tax shortfalls.To contact the reporters on this story: Ekow Dontoh in Accra at firstname.lastname@example.org;Paul Burkhardt in Johannesburg at email@example.comTo contact the editors responsible for this story: Andre Janse van Vuuren at firstname.lastname@example.org, James HerronFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The energy companies that own Israel's offshore Leviathan gas field are seeking partners to build a floating liquefied natural gas (FLNG) platform and possibly to explore for oil in ultra-deep water, a CEO from the group said. Leviathan, one of the world's biggest offshore gas discoveries of the last decade, has turned Israel into an energy exporter in a tumultuous region and has weaned it off more polluting imports, notably coal.
The Toronto-listed company said an independent Competent Persons Report (CPR) showed an increase in the gross prospective resources to 5,141 million barrels of crude oil equivalent (MMBOE) from the block from a prior estimate of 3,981 MMBOE in March last year. London-listed shares of Eco Atlantic rose 11% in early trade, while Tullow slipped 1.3%.
Dividend paying stocks like Tullow Oil plc (LON:TLW) tend to be popular with investors, and for good reason - some...
(Bloomberg) -- Oil slid to an eight-week low on concern that China’s coronavirus outbreak may dent demand. But the drop was tempered by an unexpected decline in U.S. crude inventories and as the World Health Organization opted against declaring the virus a global health emergency.Futures sank 2% in New York on Thursday, paring an earlier 3.5% drop. The Energy Information Administration reported a 405,000-barrel decrease in crude stockpiles last week, in contrast to expectations for a build by analysts and the industry-funded American Petroleum Institute. A committee of experts convened by the United Nations health agency opted to continue monitoring the outbreak, which has killed more than a dozen people and sickened hundreds.“The crude market is partly responding to that decision, somewhat of a muted move compared to the S&P,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. “Regardless of what WHO says, the fact we may see demand be hurt is what the markets are really focused on.”The EIA also showed a 1.75-million-barrel gain in gasoline stocks, the smallest since September. Distillate stocks fell 1.19 million barrels, after gaining over 20 million barrels over the previous three weeks.“The EIA data was constructive and favorable,” particularly since a crude stock draw was reported when the market was expecting an increase, said Brian Kessens, portfolio manager at Tortoise, a Kansas firm that oversees more than $21 billion in assets.China, the world’s biggest oil importer, effectively quarantined a major city to contain the SARS-like virus, banning travel from Wuhan, a city of 11 million. The alert has overshadowed concern over the halt of exports from Libya, and suspension of Nigerian Bonny crude shipments.Oil is bearing the brunt of the anxiety due to the potential hit to travel, especially ahead of the Lunar New Year holidays, the biggest human migration in the world. Goldman Sachs Group Inc. predicts the virus may crimp global demand by 260,000 barrels a day this year -- with jet fuel accounting for around two-thirds of the loss -- if the SARS epidemic in 2003 is any guide.West Texas Intermediate futures for March delivery slid $1.15 to settle at $55.59 a barrel on the New York Mercantile Exchange, the lowest close since Nov 29.Brent futures for March settlement declined $1.17 to $62.04 a barrel. The global benchmark traded at a $6.45 premium to WTI for the same month.“Once there is evidence that the outbreak is contained and thus the economic disruption is coming to an end, sentiment on oil should improve, bringing prices back up,” said Pavel Molchanov, energy research analyst at Raymond James & Associates Inc.Libya’s eastern strongman kept virtually all of the nation’s oil fields shut, in a show of defiance after world leaders failed to persuade him to sign a peace deal ending the OPEC country’s civil war. Libya’s oil output plunged to the lowest level since August 2011, according to data compiled by Bloomberg.\--With assistance from James Thornhill, Dan Murtaugh, Saket Sundria, Grant Smith and Sheela Tobben.To contact the reporter on this story: Jackie Davalos in New York at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Joe RichterFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Exxon Mobil's oil contract with Guyana would be exempt from a review of the South American nation's deals if the opposition wins the March 2 election, the party's top candidate said. While his People's Progressive Party (PPP) has criticized President David Granger's 2016 deal with Exxon as too generous, Irfaan Ali called the company - whose 1 million barrel cargo of Guyana's first-ever crude production set sail on Monday - a "pioneer" in an interview over the weekend. The PPP's platform pledged to "immediately engage the oil and gas companies in better contract administration/re-negotiation." Other companies exploring off Guyana's coast include Britain's Tullow Oil, Spain's Repsol SA and France's Total.
Apache saw its stock surge 27% in a single day earlier this week, and the secret behind this massive stock increase may well transform the way companies report on new oil discoveries
European stocks started the New Year with a rally on Thursday as trade optimism continued and China’s central bank gave markets a boost.
British stocks began the new year with a bang on Thursday but the pound slipped as 2020 started with the same old Brexit fears.