Bowleven pares losses as it strikes oil in Cameroon March 26, 2012 BOWLEVEN said yesterday that two of its exploration wells in the Douala Basin in Cameroon have found oil, as the West Africa-focused oil firm reported a narrower first-half loss. Bowleven, which has been in the news lately after Turkmenistan-focused Dragon Oil revealed it was in the early stages of making a bid for the firm [...]
Salamander profits rise but production is lower March 26, 2012 SALAMANDER Energy recorded a pre-tax profit for 2011 but production slipped, it said yesterday. The oil and gas group swung back into the black as it saw a profit of $112.6m (£70.5m) in the 12 months to 31 December. The previous year the company recorded a $113.7m loss. Revenues rose from $323.4m to a record [...]
Total hit by North Sea gas leak March 26, 2012 Total UK has shut down oil and gas production from its Elgin Franklin platform in the North Sea and evacuated staff following a gas leak on Sunday, the company said yesterday. Total UK said that operations had ceased and that all 238 personnel had been accounted for and no injuries had been reported. A gas [...]
Kenya announces first oil find March 26, 2012 Kenya yesterday announced its first oil discovery, saying it was found in the northern part of the country where British explorer Tullow Oil has been conducting exploratory drilling. The firm said the discovery was “beyond our expectations”, helping send the company’s shares up 6.6 per cent to £15.70. Kenya and its neighbours in east Africa [...]
Boris pledges to get rid of Tube drivers March 26, 2012 BORIS Johnson has announced an all-out push towards automation of the Tube network, pledging that he will never again buy a Tube train that requires a driver. “It is time for London to learn from other metro networks and get the benefits of automatic train control. It is time to move forward with ‘train captains’ [...]
Floats fall by 69pc this year March 26, 2012 COMPANIES raised a third less capital on stock markets during the first three months of 2012 as they did during the same period last year, according to figures released yesterday by data provider Dealogic. And the number of initial public offerings (IPOs) dropped an enormous 69 per cent in the first three months of 2012 [...]
Ken offers a fare cut as Boris pushes investment March 26, 2012 Transport has become the defining issue of this mayoral campaign, with voters facing the choice between one candidate that promises a fare cut and another that says fare rises are a necessary evil to fund investment. Ken Livingstone’s campaign experienced a surge in support after he set out the “Fare Deal” pledge to cut the [...]
Qantas to set up budget airline March 26, 2012 China Eastern Airlines has joined with Australia’s Qantas to set up a regional low-cost carrier, marking the first move by a big Chinese airline into the growing but overcrowded no-frills sector. China’s third-largest airline by market value and Australia’s top carrier will invest up to $198m over three years in the equal joint venture, which [...]
Lufthansa hit by strike action March 26, 2012 German airline Lufthansa has warned passengers that up to 400 flights will be cancelled today as ground handlers at Germany’s largest airports go on strike. Ground handlers in Frankfurt, the country’s biggest hub, are set to walk out this morning, while Cologne, Munich and Stuttgart will also be hit by industrial action. Workers in the [...]
UK Vauxhall plant still at risk March 26, 2012 Unions fighting to keep Opel’s European plants open have said they will not engage in plant-by-plant negotiations in talks over parent firm General Motors’ restructuring. The Vauxhall factory at Ellesemere Port in Cheshire, which employs 2,100 people, is among the sites at risk in an overhaul that insiders say could cost 30 per cent of [...]