Salamander soars as it strikes oil at the North Kutei basin off Indonesia February 4, 2013 SHARES in explorer Salamander Energy soared yesterday as it said it had discovered oil at a well offshore Indonesia. The London-listed explorer said yesterday that it had discovered 40 metres of net oil and gas in sandstones in the North Kutei basin – part of Salamander’s multi-well drilling programme – off the coast of Indonesia. [...]
Anadarko moves back into black for 2012 fourth quarter February 4, 2013 ANADARKO yesterday reported fourth-quarter net income of $203m (£128.8m) – a big improvement on the $358m loss at the same time last year. Adjusted net income for the quarter was $457m, or 91 cents a share, compared to $423m or 85 cents a share at the same time last year. Analysts had forecast the company [...]
KFC poultry probe leaves bad taste for Yum Brands February 4, 2013 KFC parent Yum Brands yesterday warned it expects 2013 per-share earnings to shrink rather than grow, as it grapples with a food safety scare that ensnared some of its chicken suppliers in its top market. The company, which gets more than half of its overall sales and operating profit from China, reported a six per [...]
Analyst Views | What should investors watch out for in Randgold’s results? February 4, 2013 TIM DUDLEY CANACCORD GENUITY Randgold guided production in a range of 900-950,000 ounces, representing a 13-19 per cent increase over 2012, based on more conservative guidance for Tongon and Morila than our forecast of 950,000 ounces. We maintain our “buy” rating. KATE CRAIG LIBERUM CAPITAL 2012 production was broadly in line with our numbers. Cash [...]
EnQuest hits output targets February 4, 2013 Producer EnQuest hit its production targets for 2012, it said yesterday, producing an average 22,802 barrels a day. The FTSE 250 explorer, which last month became the first oil company to launch a retail bond, had given guidance of between 20,000 and 24,000 barrels of oil equivalent a day. EnQuest added that the first oil [...]
Rolls-Royce wins Air Lease order February 4, 2013 Rolls-Royce has netted an order for its Trent XWB engines worth $1.1bn (£699m) at list prices from leasing company Air Lease Corporation. The engines will be used to power 25 of Air Lease’s Airbus aircraft. Additionally, Air Lease has an option for an extra five aircraft. The Trent XWB engine – specially designed for the [...]
Sumitomo buys Surrey water February 4, 2013 Japanese trading house Sumitomo has agreed to spend £164.5m on buying Sutton and East Surrey Water Group from Aqueduct, which is owned by investors including Icon Infrastructure. The utility firm, which serves around 655,000 water customers in south east England, had attracted bid interest from CVC and Beijing Water Company. Sumitomo was advised by Nomura, [...]
Twitter power harnessesed by ex-banker February 4, 2013 FORMER Morgan Stanley investment banker Emmett Kilduff has left the firm to become a social media guru. Eagle Intel, which launches fully next month, aims to capture stock intelligence from the likes of Twitter to assist institutional investors. The Capitalist hears that fund manager Tim Steer from Artemis is one of 15 City clients already [...]
Former oil executive is the new Archbishop February 4, 2013 The Bishop of Durham, Reverend Justin Welby, returned to the City yesterday when he was confirmed as the 105th Archbishop of Canterbury at St Paul’s Cathedral. No stranger to the Square Mile, the new Archbishop worked in corporate finance for two oil companies before he retrained as an Anglican priest in his mid-30s. Tweeting to [...]
Spanish poker boom has 888 looking flush February 4, 2013 DESPITE economic woe in Spain and Italy, online poker is proving more popular than ever, internet gambling firm 888 Holdings said yesterday. The company said that better trading in the countries, as well as a boom in mobile gambling, had led to a 13 per cent rise in annual revenues to $376m (£239m). Unlike many [...]
