At lunchtime, the main index of the Oslo Stock Exchange down 0.56 percent to 614.93 points as sales of securities passes 578 million.
A barrel burning oil costs $ 49.14 and is down 1.56 percent intraday. The US light crude priced at $ 46.90 a barrel, and was down 1.55 percent.
In comparison, a barrel of North Sea oil 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 come to agreement on a agreement 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 falling entire 1.63 percent.
Johan Sverdrup duo Statoil and the Norwegian is virtually unchanged, while TGS, PGS and Seadrill fall more than two percent, and Aker Solutions and Subsea 7 is down respectively 1.26 and 0.87 percent .
Updates around the Johan Sverdrup field
Statoil is 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 under 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, falling 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 , informs the Norwegian oil company in a statement.
Quarterly
Havyard turned negative to positive and gave the proceeds to a great improvement. The stock is up entire 21.32 percent to 10.30 crowns.
BW Offshore loser however still money. The stock falls 8.82 percent to 0.31 million.
Also Hofseth BioCares presented red figures for Q2. The company more than doubled the deficit, and also report that they now fetch at least 165 million in a share issue. The news sends stock down entire 22.68 percent to 1.50 million.
Inside Buy
Asetek rising 1.43 percent to 28.40 kroner on the message that directors Jørgen Smidt and Jim McDonnell bought respectively. 9,600 and 10,000 shares in the company.
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