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Wed, 23rd August 2017

Anirudh Sethi Report

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Latest Posts

Cairn Energy swings to profit after Kraken begins producing oil

Cairn Energy returned to generating revenues in the first half of the year as Kraken, one of the two major North Sea developments in which the Edinburgh-based exploration company has a stake, produced its first oil.

The group generated revenue of $10.8m for the six months to June 30 whereas it did not have any revenue in the same period a year earlier. This helped it to report a profit of $312.8m for the first six months versus a $57m loss a year earlier.

However, Cairn’s revenue in the first half related to royalty payments received from Chinese heavyweight Petrochina in relation to producing fields in Mongolia. It is yet to book any revenue in relation to Kraken production.

However the year has continued to be overshadowed by a long-running tax dispute with the Indian government. Cairn thought in March that it was finally making progress in the tussle which dates back to 2014 but was disappointed in June when Indian tax officials said they intended to seize around $350m of payments due to Cairn.

Cryptocurrency Brokers – the Complete Trading Guide

I noticed this on the Finance Magnates website and thought I’d pop it up, if you are trading bitcoin etc. its useful explaining who is offering what

Cryptocurrency Brokers – the Complete Trading Guide
It’s a full list of online brokers offering Bitcoin, Litecoin, Ethereum & more – a trading cryptocurrency guide
There is a huge list of brokers here in an easy to follow format, eg:
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Check out the link for the complete table

Kuwait oil minister says output cut extension talks will be discussed in Nov.

Reuters with the headline on comments from Kuwait’s oil minister

  • OPEC will discuss extending or ending production cuts at November meeting
More:
  • Oil inventories fell more than expected in past weeks
  • Fair oil price will be decided by the market
Kuwait’s oil minister Essam Al Marzouq, speaking on Kuwait TV, Headlines via Reuters
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Overnight US Market :Dow closed +29 points.(Looking weak on rise sell sell )

The Dow Jones Industrial Average regained some ground Monday, eking out a gain after its biggest two-week decline of the year.

The blue-chip index traded in a narrow range for much of the session, wobbling between small advances and declines before rising into the close.

The day’s moves were muted, a departure from the previous week, when a string of disappointing corporate earnings and flaring geopolitical tensions swung major indexes, government bonds and gold.

The Dow industrials rose 29.24 points, or 0.1%, to 21703.75 on Monday, for their biggest gain in a week. Home Depot led the index higher, rising $1.71, or 1.2%, to $149.20.

The S&P 500 edged up 2.82 points, or 0.1%, to 2428.37 and the Nasdaq Co mposite ticked down 3.40 points, or less than 0.1%, to 6213.13, falling for a third consecutive session.

Shares of energy companies in the S&P 500 fell 0.6%, with Chesapeake Energy , Newfield Exploration and Pioneer Natural Resources ending the day as the biggest decliners in the sector.