Tullow Oil Posts Pretax Loss In H1 On Exploration Write-offs, Impairments
Tullow Oil Plc (TLW.L) reported a loss before tax of $1.44 billion for the six months ended 30 June 2020 compared to profit of $268 million, last year. Loss per ordinary share from continuing activities in cents was 94.2 compared to profit of 7.1. The Group noted that its loss for the period was driven by exploration write-offs and impairments totalling $1.4 billion pre-tax.
First half sales revenue from continuing activities declined to $731 million from $872 million. Group working interest production averaged 77,700 bopd in the first half of 2020.
Tullow Oil said Group production has been strong going into the second half and full year guidance has been narrowed to 73-77,000 bopd following good well performance in Ghana offset by the negative impact from OPEC+ quotas in Gabon.
Bahrain markets 7-year sukuk, 12-year bonds – document
DUBAI, Sept 9 (Reuters) – Bahrain began marketing a dual-tranche bond offering on Wednesday comprising a seven-year sukuk, or Islamic bonds, and a 12-year conventional tranche, a document showed.
It gave initial price guidance of around 4.5% for the sukuk and around 5.75% for the conventional bonds, the document from one of the banks arranging the deal showed.
Sanne Group Plc H1 Pretax Profit Rises – Quick Facts
Sanne Group plc (SNN.L) reported profit before tax of 11.6 million pounds for the six months ended 30 June 2020 compared to 3.8 million pounds, prior year. Earnings per share from continuing operations was 6.1 pence compared to 1.4 pence. Underlying profit before tax increased to 22.3 million pounds from 17.5 million pounds. Underlying earnings per share from continuing operations was 12.3 pence compared to 9.4 pence.
First half turnover increased to 86.5 million pounds from 76.0 million pounds, last year. Underlying net revenue was 83.9 million pounds compared to 75.9 million pounds. The Group said net revenue growth of 9.5% with organic growth of 8.9% reflects the resilience of client book but second quarter COVID-19 related slowdown in new fund activity.
The Board recommended an interim dividend of 4.8 pence per ordinary share. The interim dividend will be payable on 16 October 2020 to Shareholders on the register at close of business on 18 September 2020.
Euro Options, Johnson’s Threat, Competitive Lira: Eco Day
Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.
- The euro’s rally to a two-year high is making European Central Bank policy makers nervous, and putting investors on the lookout for some kind of intervention.Here are some options ECB President Christine Lagardethe ECB may look at
- Boris Johnson’s threat to break international law over Brexit wasslammed by members of his own party, who warned it will damage the U.K.’s global standing
- Meanwhile on the virus front, all social gatherings of more than six people will be banned in England, undernew limits to be announced by the U.K. Prime Minister on Wednesday
- Read thefull Q&A with Albayrak
- Meanwhile, Trump’s moves to prevent some of China’s biggest companies from accessing the private data of Americans — set to take effect this month — arealready impacting corporate deal-making and geopolitics
David Beckham's Guild Esports to file for IPO in London
Sept 9 (Reuters) – David Beckham’s Guild Esports, which owns and develops esports teams, said on Wednesday it intends to list on the London Stock Exchange this autumn, a move that would make it the first esports company in the UK to join the market.
“The move comes as esports benefits from a rapidly growing fan base worldwide with some tournaments attracting a bigger audience than the Wimbledon tennis championships, Tour de France and the U.S. Open”, said the company, which counts former England soccer captain Beckham as its founding shareholder.
Angola Dollar Yields Climb After Moody’s Credit Downgrade
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Yields on Angola’s dollar debt climbed to the highest levels in more than a month after Moody’s Investors Service cut the country’s credit rating deeper into junk.
The yield on $1.5 billion of 2025 notes rose for a second day, adding 17 basis points to 12.07%, the highest on a closing basis since Aug. 5. The yield jumped 85 points on Tuesday.
Moody’s on Tuesday downgraded Angola’s long-term foreign-currency rating to Caa1 from B3, with a stable outlook. The rating company cited weak fiscal prospects due to low oil prices and a depreciating currency.
Indonesia reports 3,307 new coronavirus cases, 106 deaths
JAKARTA (REUTERS) – Indonesia reported 3,307 new coronavirus cases on Wednesday (Sept 9), bringing the national total to 203,342, data from the country’s Covid-19 taskforce website showed.
There were also 106 new deaths in Indonesia overnight, taking the total number to 8,336, the highest coronavirus death toll in South-east Asia.
Sudan floods: Calls for gov’t to help affected people
Displaced and desperate for help, hundreds of thousands of people are hit by flooding in Sudan.
At least 110 people have now died from severe flooding in Sudan as the Nile river reaches unprecedented levels.
Hundreds of thousands of people have been displaced.
The government has declared a three-month state of emergency.
Al Jazeera’s Hiba Morgan reports from Khartoum.