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Sunday, 19 July 2015

Proactive weekly oil highlights - Dragon Oil, Tomco, Falcon, Premier Oil, Tethys - Proactiveinvestors (UK)

Proactive weekly oil highlights - Dragon Oil, Tomco, Falcon, Premier Oil, Tethys - Proactiveinvestors (UK):



"The Emirate National Oil Company (ENOC) dismissed the latest criticism of its valuation of Dragon Oil (LON:DGO).



It comes after Elliott Advisors, which represents shareholders with 3.3% of Dragon, joined the list of activist investors that claim ENOC’s takeover is priced too low. Along with Baillie Gifford and Setanta Asset Management, the group of dissenting shareholders now amounts to around 13% of the company.



They say ENOC’s offer does not give enough value to Dragon’s future growth potential.

"



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Saudi Stock Exchange (Tadawul)

Saudi Stock Exchange (Tadawul):



"Equity Market | Sukuk & Bonds Market
Market Date:2015/07/19 14:25:53
ALL SHARE INDEX


Market Summary
Value Traded 4,684,265,657.15
Volume 158,687,355
Trades 90,736
Symbols Traded 165
Symbols up 94
Symbols Down 54
"



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Turkey most vulnerable to a fall in capital inflows among ‘fragile five’, says Fitch | The National

Turkey most vulnerable to a fall in capital inflows among ‘fragile five’, says Fitch | The National:



"Of the so-called “fragile five” major emerging markets, Turkey is the most vulnerable to a drop in capital inflows prompted by the anticipated raising of US interest rates this year, according to new research from Fitch Ratings.



However the ratings agency says that the five-member group as a whole, consisting of Brazil, India, Indonesia, Turkey and South Africa, are exhibiting fewer signs of vulnerability across a range of indicators, implying that the most severe effect of the Fed’s tapering programme will be felt by smaller emerging markets.



Turkey was the worst-performing member of the group in Fitch’s most recent heat map of 11 potential vulnerabilities related to external and public finances and the banking sector, released late on Friday."



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Saudi finances weaken as foreign exchange reserves slide | GulfNews.com

Saudi finances weaken as foreign exchange reserves slide | GulfNews.com:



"Saudi Arabia ramped up oil production to an all-time record high of 10.6m barrels a day in June, 200,000 barrels per day (bpd) higher than in May.



Yet the slide in oil prices to below $60 a barrel means Riyadh is likely to report an “eye-watering” budget deficit of 17.5 per cent of gross domestic product this year, about $130bn, according to Capital Economics.



This is a sharp increase on the 2014 deficit of 2.3 per cent and the biggest shortfall since the early 1990s."



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The Iran factor in oil’s search for a bottom level | GulfNews.com

The Iran factor in oil’s search for a bottom level | GulfNews.com:



"In physics, momentum is the product of a body’s mass and its velocity or its impetus resulting from its motion. A system can gain or lose momentum only if its mass or velocity changes.



The same thing applies to politics. The European negotiations with Iran gained momentum in 2013 when the permanent members of the Security Council joined the negotiations, and had to end with some result because politicians hate to go home with nothing in their bags.



So much is now written about the deal between the P5+1 and Iran and it remains to be seen how its application will evolve. The road may be bumpy, but let us assume here that all goes well and see what the implications for the oil markets are."



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Beyond stocks and bonds | FTFM - YouTube

Beyond stocks and bonds | FTFM - YouTube: ""



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