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Feb 16, 2015

Oilfield services firm Hunting to cut jobs, realign units

Feb 16 (Reuters) – Oil and gas services and engineering
company Hunting Plc said it would cut an unspecified
number of jobs and realign its business units to help counter a
drop in drilling activity.

Hunting’s shares fell as much as 12.6 percent on the London
Stock Exchange on Monday morning.

Jan 30, 2015

Vedanta plans capex cuts, “deep restructuring” in Zambia

By Abhiram Nandakumar and Roshni Menon

(Reuters) – Vedanta Resources Plc, hit by weaker commodity prices, said it planned “hundreds of millions of dollars” in capital spending cuts and deferrals, while looking at a “deep restructuring” of its struggling Zambian copper business.

Vedanta spent $1.42 billion on capital projects in year ended June 30, 2014, down from $2.02 billion a year earlier.

Jan 23, 2015

EnQuest renegotiates terms of credit facilities, cuts capex

Jan 23 (Reuters) – Oil and gas producer EnQuest Plc
said its lenders had agreed to relax terms on its credit
facilities and the company cut its capital spending plan for
2015 as oil prices slump.

The company’s shares jumped as much as 54 percent to 46.25
pence in early trading on the London Stock Exchange on Friday.

Jan 21, 2015

Afren says no proven or probable reserves at Iraqi Kurdistan oilfield (Jan 12)

Jan 12 (Reuters) – Afren Plc said there were no
proven or probable reserves at its Barda Rash oilfield in Iraqi
Kurdistan, denting its chances of fetching a good price for the
asset to refinance its debt.

Afren shares slumped 28 percent as Monday’s announcement
further shook investor confidence in the company after several
top executives were dismissed in October and as it faces falling
oil prices and the suspension of operations in Iraqi Kurdistan.

Jan 16, 2015

Acacia Mining seeking gold assets across west Africa

Jan 16 (Reuters) – Acacia Mining Plc is looking to
buy gold mines and exploration projects in Senegal, Mali and
Ghana to expand in west Africa, Chief Executive Brad Gordon
said.

The company, which has three mines and exploration assets in
Tanzania, will seek assets that are similar in size to its
existing ones, he told Reuters.

Jan 12, 2015

Afren says no proven or probable reserves at Iraqi Kurdistan oilfield

Jan 12 (Reuters) – Afren Plc said there were no
proven or probable reserves at its Barda Rash oilfield in Iraqi
Kurdistan, denting its chances of fetching a good price for the
asset to refinance its debt.

Afren shares slumped 28 percent as Monday’s announcement
further shook investor confidence in the company hit by
high-level corruption, falling oil prices and suspended
operations in Iraqi Kurdistan.

Nov 21, 2014

Ophir Energy offers to buy Salamander in SE Asia push

Nov 21 (Reuters) – Ophir Energy Plc offered to buy
Salamander Energy Plc for about 267 million pounds
($419 million) in an all-stock deal to help the British oil and
gas explorer expand in southeast Asia.

Ophir, which has exploration assets scattered throughout
African waters, would acquire an oilfield already in production
off Thailand’s coast as well as a gas field and concessions in
Indonesia, if the deal goes through.

Nov 6, 2014

Randgold output rises as Congo mine ramps up

Nov 6 (Reuters) – The chief executive of Randgold Resources
Ltd said production will be towards the top end of the
miner’s full-year forecast as its big new project in the
Democratic Republic of Congo picks up speed.

Randgold’s shares rose as much as 1.6 percent in early
trading on Thursday after the company reported record quarterly
gold production.

Nov 5, 2014

Centamin cuts gold production forecast at Egyptian mine

Nov 5 (Reuters) – Centamin Plc cut its full-year
production forecast for the only gold mine it operates, citing
lower grades of the underground ore being mined in the current
quarter and reduced productivity of its plant in October.

Centamin’s shares fell as much as 14.9 percent in early
trading on the London Stock Exchange, the most they have fallen
in a single day since May 2013. The stock was one of the top
losers on the FTSE-250 Midcap Index.

Oct 14, 2014

Oil producer Afren fires CEO, 3 other execs in scandal

Oct 14 (Reuters) – British oil and gas producer Afren Plc
sacked its chief executive, chief operating officer and
two associate directors after an independent review into
unauthorised payments found evidence of “gross misconduct”.

Shares in the company rose as much as 6.6 percent on Tuesday
morning, which an analyst said was mainly on the conclusion of
the review and that the incidents would not affect Afren’s
operations.

    • About Abhiram

      "Abhiram is a journalist for the Bangalore bureau -- sending out headline alerts for Indian, U.S., Canadian and Australian companies. He is also the only metal-head in the bureau."
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