Tag: bahrain

Brent Crude at $104 per Barrel on Spreading Mideast Unrest

Filed in commodities, Gold, Lear, New Gold, o, Spot Gold by on February 15, 2011 0 Comments
Brent Crude at $104 per Barrel on Spreading Mideast Unrest

Filed under: China , Middle East , Commodities , Oil When it comes to the biggest threat to world economies, oil scarcity is second only to nuclear war. What started in Tunisia, then spread to Egypt has now spreading to Bahrain and Iran, where protesters are clashing with police. In Iran, lawmakers are threatening death to protesters. The fear of chaos spreading across the Middle East has sent the oil market into overdrive. Brent crude traded at $104 per barrel Tuesday. Continue reading Brent Crude at $104 per Barrel on Spreading Mideast Unrest Brent Crude at $104 per Barrel on Spreading Mideast Unrest originally appeared on BloggingStocks on Tue, 15 Feb 2011 11:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Occidental Petroleum: Earnings Scorecard – Analyst Blog

Filed in dividend, earnings, Gold Investing, ubs by on May 20, 2010 0 Comments

Following the earnings release for Occidental Petroleum Corporation ( OXY ) on April 29, 2010, the company issued a detailed outlook in an analyst meeting held on May 19, 2010. Occidental’s better-than-expected performance in the first quarter was mainly driven by higher production volumes. The company continues to focus on improving its reserve base through a strong pipeline of projects worldwide. Further, the company builds on its financial discipline, with greater emphasis on efficient capital allocation. Earnings Review Net income from continuing operations was $1.32 per share, below the Zacks Consensus Estimate of $1.35 but substantially higher than last year’s net income of 45 cents. Revenues increased 55% year over year to $4.8 billion in the first quarter. Revenue in the quarter increased over last year due to increased production and higher realized crude oil prices, partially offset by lower natural gas prices. We have discussed the quarterly results at length here: Occidental Profits Rise but Miss Agreement of Analysts The overall trend in annual estimates remains mixed, with only 1 out of 19 upside revision for 2010 in the last 7 days. Five analysts raised their estimates in the last 30 days. However, estimates were lowered by 1 analyst in the last 7 and by 9 in the last 30 days. For 2011, there were 2 upward revisions in the last 7 days, while 6 out of the 19 analysts raised estimates in the last 30 days. Nevertheless, 1 analyst in the last 7 days and 7 in the last 30 days moved estimates in the opposite direction. Magnitude of Estimate Revisions Given the number of negative revisions, earnings estimate for fiscal 2010 has fallen 2 cents over the past week and 6 cents compared with a month ago. Earnings estimates for fiscal 2011, however, rose by a penny from past week and fell by 2 cents from the past month. The current Zacks Consensus Estimates are $6.02 and $7.69 for 2010 and 2011, respectively. Maintain Neutral We believe Occidental remains well positioned to continue delivering strong results and long-term value, given its portfolio of low-risk and long reserve-life properties that provide the company with a steady production-growth profile and above peer-group crude oil leverage. Additionally, a strong balance sheet, effective capital discipline and high operating efficiency remain the cornerstones of Occidental’s competitive advantage. Occidental outlined its multi-year production outlook in an analyst meeting held yesterday. Going forward, Occidental expects to achieve annual production growth of at least 5%-8% through 2014 from its existing properties. Furthermore, the company expects production growth to expand between 6% and 9% annually or possibly beyond, based on continued success in its exploration and asset development programs. Moreover, we believe Occidental is successfully building a compelling longer-term growth profile relative to many integrated oil peers, through its discoveries in the U.S. and the Middle East. In the U.S., the company anticipates a minimum of 6%-11% production boost over the next five years, with net production between 512,000 – 632,000 barrels of oil equivalent per day (BOEPD) in 2014. On the domestic…

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F-1 Follows Bahrain Bore With Melbourne Mayhem as Button Wins

Filed in Gold Holdings, Gold Investing by on March 29, 2010 0 Comments

After the bore in Bahrain, FormulaOne revved back into life at the Australian Grand Prix. Concerns that a refueling ban and new tire rules mightresult in a lack of spectacle and turn fans away were allayed bya Melbourne race featuring overtaking, cr F-1 Follows Bahrain Bore With Melbourne Mayhem as Button Wins

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Bahrains GFH posts $607 mln loss in Q4

Filed in Gold Investing by on February 14, 2010 0 Comments

MANAMA, Feb 14 – Bahrain’s Gulf Finance House posted on Sunday a $607 million fourth-quarter loss as the bank cleaned the legacy of a regional real estate crash from its books as expected. The Islamic investment house posted a full-year net loss Bahrains GFH posts $607 mln loss in Q4

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Land of the “Mostly” Free

Filed in economy, Gold Investing, Gold Prices by on January 24, 2010 0 Comments

“Freedom is the right to tell people what they don’t want to hear.” – Eric Arthur Blair (a.k.a. George Orwell) That the United States of America was this week demoted from its formerly “Free” categorization by The Heritage Foundation to that of “Mostly Free” should come as no surprise to any semiliterate, moderately contemplative individual. Americans Land of the “Mostly” Free originally appeared in the Daily Reckoning . The Daily Reckoning, a FREE daily e-letter, offers a “uniquely refreshing” perspective on the global economy, investing, and today’s markets.

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Five UK sailors held by Iranian navy

Filed in Gold, Gold Bullion prices by on December 1, 2009 0 Comments

The racing yacht, the Kingdom Of Bahrain, owned by Sail Bahrain and crewed by the five Britons, was stopped by Iranian naval vessels last Wednesday as it sailed from Bahrain to Dubai. The crew members are still in Iran and are understood to be safe and well. Their families have been informed. The Foreign Office said the yacht might have “inadvertently” strayed into Iranian waters. The sailors were heading to Dubai to join the Dubai-Muscat Offshore Sailing Race. One of the men onboard has been named as David Bloomer, believed to be a radio presenter in Bahrain. A source later… Original Article: Forum: News/Activism

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WC 2010 cash goal for New Zealand

Filed in Gold Investing by on November 15, 2009 0 Comments

The finances of New Zealand Football (NZF) look set for a boost after the country reached the World Cup finals for the second time in their history.The All-Whites booked their place with victory over Bahrain in their qualifying play-off second leg . And they are set to net about NZ$10m ($7.43m; 4.45m) for qualifying for next year’s finals in South Africa . Talks with potential sponsors sho WC 2010 cash goal for New Zealand

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Bahrain can become as India’s window to Gulf: Official

Filed in economy, Gold Bullion prices by on November 8, 2009 0 Comments

NEW DELHI – The Gulf kingdom of Bahrain could act as the conduit for channelling the synergies of India and the six-member Gulf Cooperation Council (GCC), said the head of Bahrain’s Economic Development Board here Sunday. “Like Bahrain, the gateway to the growing market of the Gulf, India is one of the most strategically located and

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Kuwait wants Gulf currency delay

Filed in Uncategorized by on October 11, 2009 0 Comments

Kuwait has called for the launch of a Gulf monetary union and single currency – due in 2010 – to be delayed so it could address technical issues .Kuwait, Saudi Arabia, Qatar and Bahrain signed an accord in June to create a joint monetary union coun …

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