Oil and gas decommissioning costs to hit nearly £17bn with 1.2m tonnes from North Sea to be removed With 1.2 million tonnes of disused oil and gas installations from the North Sea expected to be removed for reuse and recycling, UK oil and gas firms are being forecast to spend some £16.6bn on decommissioning work over the next decade. Industry body Oil and Gas UK (OGUK) said work in this area would be [...]
Nostrum blames difficult year as revenue falls 20 per cent Nostrum blames difficult year as revenue falls 20 per cent Nostrum, which focuses on oil and gas production in the Caspian basin, blamed a “very challenging” year as revenue dropped around 20 per cent. Despite the news, shares rose over three per cent this morning. The figures Revenue for the first nine months of this year was $250.3m (£193.5m) in 2019, down from $311.4m in [...]
Nostrum share price takes hit from analyst note Nostrum Oil and Gas struggled on the markets today after taking a hit from an analyst downgrade. Shares took a battering, falling by 19 per cent to 28.35p. It came as analysts at Berenberg downgraded the shares from “buy” to “sell”, setting a new target price of 25p from 200p. Read more: BP and Glencore [...]
Nostrum Oil and Gas revenue grows but cuts to its drilling programme send investors running November 27, 2018 Nostrum Oil and Gas has announced it will cut back its number of drilling rigs next year, causing shares plunge 20 per cent this morning. In its third quarter report the Kazakhstani firm reported rising year-on-year revenues but a decline in production for the nine months ending 30 September. The figures Revenue grew steadily to [...]