In the markets…

Africa Oil closes $450 million brokered private placement

Africa Oil Corp. has announced that it has closed the $450,000,000 brokered private placement, previously announced on October 16 this year. The company announced that proceeds of the private placement will be used to fund the Africa Oil’s future exploration, appraisal and development program in East Africa, as well as for corporate development and general working capital purposes.

Read more at: http://online.wsj.com/article/PR-CO-20131028-908513.html

 BP raises dividend as quarterly earnings beat estimates

BP has raised its dividend after third-quarter earnings fell less than expected. Profit adjusted for one-time items and inventory changes dropped to $3.7 billion from $5 billion a year earlier, BP said in a statement. That beat the $3.4 billion average estimate of 13 analysts surveyed by Bloomberg. It increased the dividend by 5.6 percent to 9.5 cents a share.

Read more at: http://www.bloomberg.com/news/2013-10-29/bp-raises-dividend-as-quarterly-earnings-beat-estimates.html

PetroChina third-quarter profit rises on wider refining margins

PetroChina posted a 19 percent increase in third-quarter profit as retail fuel pricing reforms decreased refining losses. Net income was $4.89 billion in the three months ending September 30.

Read more at: http://www.bloomberg.com/news/2013-10-29/petrochina-third-quarter-profit-rises-on-wider-refining-margins.html

 

With thanks to Bloomberg and the Wall Street Journal.

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