Scandoil.com

London energy shares slide early


Published Oct 10, 2008
[an error occurred while processing this directive]

Edit page New page Hide edit links

BP Clair Development

Shares in U.K. supermajor BP slid six percent in early Friday trading, as oil industry shares looked to suffer again from “weekend” nerves shown at the height of government financial angst last Friday.

BP shares fell 5.68 percent by mid-morning in London despite news oil output at one of its Azeri platforms was on again after a month of repairs. News agency Reuters reported production would double to 600,000 barrels per day, although 900,000 bpd was normal.

London’s main indices were down up to 5.32 percent before lunch, weighted down by falling energy shares. By mid-afternoon, London's main indices had all fallen by between six and seven percent.

Tullow Oil shares dipped 6.82 percent despite an AFX report from South Africa saying Ghana’s Jubilee field would produce 120,000 bpd in 2010. U.K.-based gas-storage company Portland was down seven percent after reporting investment terms in a flagship project were still being put to “prospective” potential partners.

Venture Production was down 6.5 percent for reporting it would pay E.ON Ruhrgas’s UK business £14.8 million for 14 percent in the Cygnus, Kepler, Copernicus and Humphrey gas discoveries.

Premier Oil shares fell even with a management decision to buy back shares.




   

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us

 

sitemap xml


 

Home