Statoil finds natural gas but no oil in the Arctic Ice Crystal well September 23, 2013 NORWEGIAN energy explorer Statoil found only natural gas and no oil at the Ice Crystal prospect in the Arctic Barents Sea, the company and the Norwegian Petroleum Directorate said yesterday. “Our main goal was to find oil… but unfortunately it did not materialise,” said Gro Haatvedt, senior vice president for exploration in Norway. “We still [...]
Norwegian Air calls in Boeing to explain new Dreamliner glitches September 23, 2013 NORWEGIAN Air has called in Boeing management for a meeting in Oslo this week following a slew of technical problems with its two Dreamliner planes, the low-cost carrier said yesterday. “We are going to tell them this situation is far from good enough,” company spokeswoman Anne-Sissel Skaanvik said. “We have not had the reliability that [...]
Ithaca agrees new farm-out deals September 23, 2013 Aim-listed oil explorer Ithaca Energy yesterday unveiled a new raft of UK exploration farm-out deals, with Oyster Petroleum, Sussex Energy and Euroil Exploration. In combination with previously announced farm-out agreements, Ithaca is now fully carried for the cost of drilling the exploration wells which were transferred when it bought Valiant Petroleum. In addition, Ithaca will [...]
Genus buys Genetiporc for £25m September 23, 2013 FTSE 250 bull and pig semen specialist Genus yesterday said it has acquired Genetiporc, the pork genetics business of Aliments Breton Foods Group, for £24.8m. Genetiporc is based in Canada and has operations in the US and Mexico, as well as a joint venture in Brazil. “Genetiporc is an excellent fit with Genus’ existing business [...]
Ariana discovers gold-silver zones September 23, 2013 Ariana Resources has discovered four highly mineralised areas of gold and silver in western Turkey, it said yesterday. The Aim-listed miner also said that it has substantially increased the number of gold-silver bearing veins – areas of crystallised minerals within rocks – mapped in the region. “These exceptional exploration results reinforce our views on the [...]
Best of the Brokers for 24 September 2013 September 23, 2013 GULF KEYSTONE Canaccord Genuity retains its “hold” rating for Gulf Keystone but has raised its target price to 216p from 210p. The analyst says extra funding will be needed for production growth at the Shaikan field. HOCHSCHILD MINING UBS has retained a “neutral” rating for Hochschild Mining but increased its price target from 215p to [...]
London Report: Banks lead FTSE down on doubt about Fed policy September 23, 2013 BRITAIN’S top share index fell yesterday, led down by banks on uncertainty over the timing for an expected scaling back of US Federal Reserve monetary stimulus. Aberdeen Asset Management, among the top risers earlier yesterday after saying it expected to meet profit forecasts, pared back its gains to trade up 0.3 per cent. Traders noted [...]
New York Report: US stocks slide for three days over stimulus September 23, 2013 US STOCKS declined for a third straight session yesterday as Federal Reserve officials suggested the Fed could still begin scaling back its stimulus later this year. A looming political deadline in Washington added to pressure on the market, where losses over the past three sessions have erased the S&P 500’s 1.2 per cent gain last [...]
Any other business – 24/09 September 23, 2013 ■ Labour MPs have been queuing up to have themselves cast in plastic at their party conference – thanks to a 3D printer stall run by Microsoft. Shadow Northern Ireland secretary Vernon Coaker was among those who were happy to have their likeness printed out using a high-tech camera and a robotic arm. But some [...]
Markets muted after German poll September 23, 2013 But the probable outcome of a CDU/CSU grand coalition with the SPD may bring a long-term shift GERMANY has voted, and despite Angela Merkel’s triumphant showing, a “grand coalition” between her Christian Democrat alliance (CDU/CSU) and the Social Democratic Party (SPD) has emerged as the most likely outcome. Euro-dollar initially rose to $1.3546 in early [...]