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Wednesday 14 January 2015 2:54 amPremier Oil share price plummets after taking $300m hit as oil price slidesBy: Jeff MisentiShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GooglePremier Oil enjoyed record production last year with 63.6thousand barrels of oil equivalent per day kboepd , an increase of 9.3 per cent on the pre polene borsa vious year.The company s share price though has dropped six per centUK production soared 30.2 per cent to 19.4 kboepd. The company expects production in 2015 from its existing assets, excluding the North Sea s Solan field, to come somewhere in the region of 55 kboepd.Thanks to the low oil price Premier has delayed 2015 discretionary drilling expe owala wasserflasche nditure. The company plans to drill eight wells this year.Total revenues for 2014 will be around $1.6bn.Planned development spend for 2015 is expected to be 40 per cent lower than last yearand will take a $300m impairment charge. Why it s interestingThe collapsing price of oil has hit major producers hard. Crude now trades at below $50 per barrel, creating the toughest climate the sector has seen in years. It s widely believed there is still room for the price of oil to fall further.Premier rivals Cairn Energy and Tullow Oil are also presenting market updates. Oil companies will want to hold off on big spending project stanley in uk s as the price of oil continues to slide. Premier Oil is making heavy investments in the North Sea. On Mo Gsgm Microsoft announces 22 per cent quarterly dividend hike with pledge to return cash to shareholders
Thursday 17 May 2012 8:55 pm|Updated:Thursday 30 May 2019 6:00 amGold moves off four-month low as investors eye low pricesBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on Whats polene AppEmailShare on EmailAdd as a preferredsource on GoogleGOLD rose slightly yesterday, as buyers were enticed to the market because of its relatively low price.However, the 2.51 per cent rise to $1575.20 still leaves gold well below its recent $1795 peak in March as investors steer clear of the traditional safe haven despite renewed Eurozone worries hitting other assets like stocks and bonds.Analysts believe the unusual falls in gold prices have been caused by central banks ending quantitative easing, thus reducing inflationary pressures which eat  stanley cup away at the valu stanley termosy e of assets like bonds.Gold is losing out to other potential safe havens ndash; for example the dollar is quite high and the US is relatively resilient to the crisis in Europe, making their bonds more appealing, said Capital Economicsrsquo; Julian Jessop.Even German bonds are popular, squeezing out gold. Whether this will last remains to be seen ndash; in a Eurozone breakup even the dollar will suffer from the impact on the global economy, and we could see more quantitative easing. Assets like bunds could lose their safe haven status, and investors would move back to gold.Share this articleFacebookXLinkedInWhatsAppEmailSimilarly tagged content: Se