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| Tullow sees Kenya/Uganda piping 500,000 barrels a day Wednesday, Jul 31, 2013 12:31 AM PDT By Andrew Callus LONDON (Reuters) - Tullow Oil Plc said its latest drilling success at the Etuko-1 well in Kenya confirmed the commerciality of fields there and that combined with output from neighbour Uganda, a pipeline could deliver 500,000 barrels a day by 2018. Tullow reported first-half 2013 net profit that fell to $313 million from $567 million. A Uganda project "farmdown" payment boosted earnings a year earlier and this was only partly offset by lower exploration writedowns in the 2013 half, Tullow said. Tullow's partner in Etuko-1 is Africa Oil. ... Full Story | Top |
| Car bomb defused outside hotel in Libyan capital Wednesday, Jul 31, 2013 12:26 AM PDT By Marie-Louise Gumuchian TRIPOLI (Reuters) - Libyan security forces defused a dozen bombs found in a car parked outside a luxury hotel in the capital Tripoli, the interior ministry said on Tuesday. The car was parked near the Radisson-Blu, a seafront hotel popular with foreign business people, on Monday evening. The bombs were discovered a week after officials said another large hotel may have been the target of a rocket that landed nearby. ... Full Story | Top |
| Mobil Nigeria says H1 pretax profit up 69 pct Wednesday, Jul 31, 2013 12:13 AM PDT LAGOS (Reuters) - Fuel retailer Mobil Nigeria said on Tuesday its half-year pretax profit jumped to 2.45 billion naira, up 69 percent from 1.45 billion a year earlier. Shares in Mobil, a local unit of ExxonMobil Full Story | Top |
| Brent holds below $107, but heads for best month since August Wednesday, Jul 31, 2013 12:04 AM PDT By Jessica Jaganathan SINGAPORE (Reuters) - Brent crude hovered below $107 per barrel on Wednesday ahead of the outcome of a U.S. Federal Reserve meeting and economic data that will be scoured for hints on the outlook for demand from the world's top oil consumer. But prices were set to post their biggest monthly rise in eleven months, helped by gains earlier in July amid geopolitical tensions that kept alive concerns about global oil supplies. ... Full Story | Top |
| Turkish power-ship maker Karadeniz wants to expand to Africa, US, UK Tuesday, Jul 30, 2013 11:55 PM PDT TUZLA, Turkey (Reuters) - Turkish power-ship builder Karadeniz Holding expects to supply its next electricity-generating vessel to a Middle Eastern or African nation and is also looking at U.S. and British markets, Chief Executive Orhan Karadeniz said on Tuesday. Closely held Karadeniz, the world's only maker of self-propelled floating power stations, already produces electricity for Iraq and Lebanon, part of its fleet of seven power ships with a combined capacity of 1,200 megawatts. ... Full Story | Top |
| South Africa's Eskom launches $1 bln bond, four times subscribed Tuesday, Jul 30, 2013 11:52 PM PDT  JOHANNESBURG (Reuters) - South African power utility Eskom launched a $1 billion, 10-year bond at a yield of 6.875 percent on Tuesday, Chief Executive Brian Dames told Reuters. The bond was four times subscribed, with the order book coming in around $4.3 billion. "It's an expression of international investor confidence in Eskom and South Africa," Dames said. Eskom, which provides 95 percent of the power to Africa's biggest economy, needs 300 billion rand for capacity expansion, 83 percent of which had been secured, the company said at a results presentation this month. ... Full Story | Top |
| AstraZeneca buys rights to anaemia drug from FibroGen Tuesday, Jul 30, 2013 11:23 PM PDT LONDON (Reuters) - AstraZeneca took a further step to bolster its new drug pipeline on Wednesday by striking a deal with private biotech firm FibroGen potentially worth more than $815 million for rights to an experimental anaemia drug. Britain's second biggest drugmaker will pay $350 million upfront and in subsequent non-contingent payments, plus future development-related milestone payments of up to $465 million, for rights to FG-4592 in the United States, China and certain other markets. There may be additional payments if use of the drug is expanded. ... Full Story | Top |
| Siemens chief faces exit as board votes on his job Tuesday, Jul 30, 2013 06:02 PM PDT FRANKFURT (Reuters) - The supervisory board of Siemens will seal the fate of Chief Executive Peter Loescher on Wednesday when it votes for his early dismissal in one of Germany's most dramatic boardroom battles in years. The board meeting comes after Siemens last week issued its second profit warning this year, adding to signs that Loescher was struggling to turn around one of Germany's biggest engineering conglomerates. ... Full Story | Top |
| Bloomberg's ban on big sodas is unconstitutional: appeals court Tuesday, Jul 30, 2013 03:58 PM PDT  By Joseph Ax NEW YORK (Reuters) - New York City Mayor Michael Bloomberg's controversial plan to keep large sugary drinks out of restaurants and other eateries was rejected by a state appeals court on Tuesday, which said he had overstepped his authority in trying to impose the ban. The law, which would have prohibited those businesses from selling sodas and other sugary beverages larger than 16 ounces (473 ml), "violated the state principle of separation of powers," the First Department of the state Supreme Court's Appellate Division said. ... Full Story | Top |
| Keyera, Kinder Morgan to build new Canada crude-by-rail terminal Tuesday, Jul 30, 2013 03:40 PM PDT CALGARY, Alberta (Reuters) - Keyera Corp and Kinder Morgan Energy Partners LP announced on Tuesday a $98 million joint venture to build a crude oil rail-loading terminal in Edmonton, Alberta, one of the main storage hubs for Canada's oil sands. The project is the latest development to cater to the growing demand among Canadian producers, frustrated by apportionment on congested pipelines, to use railways to export crude south to U.S. markets. ... Full Story | Top |
| SpaceX wins bid to launch Canadian radar satellites Tuesday, Jul 30, 2013 03:23 PM PDT By Irene Klotz (Reuters) - Privately owned Space Exploration Technologies was selected to launch a trio of Canadian radar satellites aboard a single Falcon 9 rocket, the company announced on Tuesday. The California-based firm, also known as SpaceX, already is flying NASA cargo to the International Space Station, a permanently staffed research outpost that flies about 250 miles above Earth. Owned and operated by Internet entrepreneur Elon Musk, the company is also working on a space taxi to fly astronauts to the orbital outpost. A relative newcomer to the U.S. ... Full Story | Top |
| S&P 500, Nasdaq end up as tech gains; potash shares sink Tuesday, Jul 30, 2013 03:13 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 and Nasdaq ended higher on Tuesday, lifted by gains in the technology sector, while potash shares were the day's big losers. The tech sector index rose 0.7 percent, leading the S&P 500's advance. Facebook's stock jumped 6.2 percent to close at $37.63, within striking distance of its $38 IPO price. The stock - the most actively traded on Nasdaq - rose as much as 7 percent to a session high of $37.96. Facebook's stock has gained 42 percent since the company reported blowout quarterly results last Wednesday. ... Full Story | Top |
| Canadian Oil Sands profit up, but missed expectations Tuesday, Jul 30, 2013 03:08 PM PDT CALGARY, Alberta (Reuters) - Canadian Oil Sands Ltd , which owns the largest stake in the Syncrude Canada Ltd oil sands project in northern Alberta, said on Tuesday its quarterly profit more than doubled on higher oil production and strengthened prices, though it lowered its annual production estimate because of maintenance issues. ... Full Story | Top |
| BHP faces $14 billion potash decision as price war looms Tuesday, Jul 30, 2013 02:21 PM PDT  By Clara Ferreira-Marques and Rod Nickel LONDON/WINNIPEG, Canada (Reuters) - Miner BHP Billiton's new boss is facing his biggest test to date as he weighs the fate of a $14 billion Canadian potash project just as the collapse of a dominant potash cartel puts more pressure on already weak prices. The Jansen project in Canada's Saskatchewan province was a tough call for BHP Chief Executive Andrew Mackenzie even before Tuesday, with mining investors reluctant to spend on big-ticket projects and most also cool on an oversupplied potash market. ... Full Story | Top |
| New EPA chief takes on critics of U.S. agency's policies Tuesday, Jul 30, 2013 01:15 PM PDT By Richard Valdmanis and Valerie Volcovici CAMBRIDGE, Mass./WASHINGTON (Reuters) - Delivering her first speech as the top U.S. environmental steward, Gina McCarthy on Tuesday pre-empted a frequent mantra of critics of the Environmental Protection Agency - that the agency's regulations disrupt the economy and cost jobs. The benefits derived from rules to address climate change and protect the environment far outweigh their costs, said McCarthy, who was confirmed by the U.S. Senate on July 18 as EPA administrator. ... Full Story | Top |
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