The main index on the Oslo Stock Exchange ended down 0.28 percent to 616.68 points Monday. It was traded securities for 1.45 billion.
Shortly before the off-exchange cost a barrel burning oil $ 49.28 and was down 1.28 percent intraday. The US light crude was at the same time priced at $ 46.95 a barrel, and was down 1.45 percent. For comparison, a barrel of North Sea oil (burnt) traded at $ 50.37 a barrel at the close of trading in Oslo on Friday.
The decrease is due according to Bloomberg News and TDN Finans doubt manufacturers will reach agreement on a deal to freeze oil production when they meet for informal talks in the next month.
– the likelihood that it really will be some form of production freeze, is quite small. Hitherto it has been a successful talk exercise, said senior commodity strategist at Australia & amp; New Zealand Banking Group in Sydney, Daniel Hynes, according to the news agency.
According to The Wall Street Journal and TDN Finans was Friday upturn weakened when the US central bank governor Janet Yellen in his speech Friday afternoon held the door open for a snarere- rather-than-later rate hike from the Federal Reserve.
– the big question is whether Opec members will intervene, if prices fall to 40 dollars per barrel again, said chief of Boslego Risk Services in Santa Barbara, Robert Boslego, said.
Oslo Børs OBX Oil Service Index fell 1.67 percent, weighed down by PGS and TGS which ended down respectively. 4.95 and 2.78 percent.
Johan Sverdrup
Statoil ended unchanged at 132.70 kroner. The company has issued an update on cost and expected production capacity of the Johan Sverdrup field.
Compared with the projections of PDO is the estimated cost for the first phase of development of the Johan Sverdrup field trimmed by 24 billion to 99 billion .
Current zero price / breakeven is less than 25 US dollars per barrel for phase 1. at the same time informs Statoil that span the resource estimate for Johan Sverdrup full field has improved from 1.7 to 3.0 to 1 , 9 to 3.0 billion boe.
– The increase in capacity along with improvement in the reserve estimates and investment costs have helped to reduce the zero price / breakeven for the full field development of the Johan Sverdrup to be below 30 US dollars per barrel, Statoil states in the message.
the production capacity for phase 1 is now estimated at 440,000 barrels per day. In the plan for development and operation was originally production capacity for Phase 1 estimated at between 315-380 000 barrels of oil per day.
The Norwegian oil company, which has 11.5733 percent stake in the field, fell 0.09 percent to 113.90 kroner.
– This entails no change in Det norske’s reserves in Johan Sverdrup, estimated at 303 million barrels of oil equivalent (P50) in 2015. The company’s reserves will be reconsidered in the usual way by the end of the year in conjunction with the annual reserve certification process , informed the Norwegian oil company in a statement.
Carnegie analyst Kjetil Bakken believes today Sverdrup message is positive for the valuation of stocks that have holdings in the field.
It has a positive effect on the valuation when costs are reduced while production is accelerated through increased production capacity in phase 2, Bakken says TDN Finans Monday.
In terms of Bakkens previous numbers increase values per share with 0.30 million for Statoil and 0.90 million for the Norwegian oil company.
quarterly
Havyard presented figures for Q2. Bottom line was turned from negative to positive and revenue had been given a solid boost. Shares rose entire 29.56 percent to 11 million.
BW Offshore lost still money. The stock ended down 5.88 percent to 0.32 million.
Also Hofseth BioCares presented red figures for Q2. The company more than doubled the deficit, and also report that they will grab at least 165 million in a share issue. The news sent the stock down 20.10 percent to 1.55 million.
The company Solvang ASA reports a profit after tax of 56.9 million in Q2 2016, compared with 34.2 million kroner in the same period last year. Earnings per share were NOK 2.32, compared with 1.40 million at the same crossroads last year. The stock fell still 9.43 percent to 24 crowns.
Sales of licenses gave North Energy a profit in Q2. Profit after tax amounted to 5,420,000 million in Q2 2016, compared with minus 34.03 million kroner in the same period last year. The stock fell percent to NOK. Operating profit was minus 20.03 million kroner, compared with minus 141 950 000 million in Q2 2015. Revenue from the sale of licenses was 8.37 million kroner, compared with minus 0.40 million the year before. The share price ended down 3.03 percent to 1.60 million.
Inside Buy
Asetek was up much of the day but ended unchanged at 28 million. Directors Jørgen Smidt and Jim McDonnell bought respectively. 9,600 and 10,000 shares in the company.
Inside Sales
CTO Alexander Øhrn has sold 12,762 shares in Cxense 156 per share. Following the transaction Øhrn 14,000 warrants and 63,000 shares. The share price ended unchanged at 160 million.
Also Øyvind Oaland which is R & amp; D Global Director of Marine Harvest ASA has sold shares in the company he works. Oaland received 130.21 million for each of the 15,000 MHG shares he sold. New holding is 4,388 shares and 51,089 options. Marine Harvest fell 0.54 percent to 127.90 kroner.
Investor presentation
Next biometrics are among the companies that have kept investor presentation at DNB TMT conference. CEO Tore Ertholmene-Idsøe said among other things that the company will focus on the smart card market in the future.
Shares rose 2.13 percent to 144 kroner.
Rieber ships to Russia
GC Rieber Shipping has through its subsidiaries entered into a time charter for seismic surveys and Services with Sovcomflot-daughter OOO SCF Geo. The job should be done by Polar Empress, and is expected to last for around two months.
The stock fell 14.29 percent on very thin turnover.
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