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January 27, 2014
06:01 EDTBRGYYBG Group declares force majeure in Egypt
BG Group has issued Force Majeure notices under its LNG agreements in Egypt reflecting the ongoing diversions of gas volumes to the domestic market in excess of the existing pooling arrangements. For 2013, BG Group expects production and LNG Shipping & Marketing results to be consistent with market guidance. Full year 2013 production is expected to be approximately 633 kboed, which includes around 570 kboed from base assets. In Egypt, diversions to the domestic market during the fourth quarter were higher than expected. The revised pooling arrangements put in place for 2013 have not been honoured and domestic diversions are currently at around capacity, close to 1 billion standard cubic feet of gas per day. As a result, BG Group has been unable to meet in full its obligations to deliver gas to Egyptian LNG and given the current levels of domestic diversions and the continued uncertainty around the level of future diversions, BG Group has served Force Majeure notices under its LNG Agreements to buyers and lenders. BG Group remains committed to the Egyptian LNG Project and will continue to negotiate with the Egyptian authorities and other stakeholders to seek a long term solution. In 2014, BG Group’s production volumes are expected to be in the range of 590 – 630 kboed with base assets contributing in the range of 480 – 520 kboed, excluding portfolio changes. BG Group currently expects production for 2015 to be in the range of 710 – 750 kboed, excluding portfolio changes.
News For BRGYY From The Last 14 Days
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November 30, 2015
06:49 EDTBRGYYChina, Australia regulators to approve Shell-BG deal, Telegraph reports
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06:40 EDTBRGYYShell may cut thousands more jobs after BG takeover, Times reports
Royal Dutch Shell (RDS.A) is planning further cost reductions after its GBP43B takeover of BG Group (BRGYY), the Times reports. The cuts will come amid increasing pressure from shareholders to strengthen the commercial log of the deal as oil prices fall, the report says. The oil giant was already revealed plans to cut $3.5B from the combined entity, the report says. The extra cuts will likely include thousands of more job cuts, the report says. Reference Link
November 25, 2015
10:00 EDTBRGYYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Actelion (ALIOY) upgraded to Neutral from Sell at Citi... Alliance Data (ADS) assumed with an Overweight from Neutral at Piper Jaffray... BG Group (BRGYY) upgraded to Outperform from Sector Perform at RBC Capital... Cubic (CUB) upgraded to Buy from Hold at Benchmark... Frontline (FRO) upgraded to Neutral from Underperform at Credit Suisse... Hormel Foods (HRL) upgraded to Overweight at Stephens... ImmunoGen (IMGN) assumed with a Buy from Hold at Jefferies... Metro (MTTRY) upgraded to Buy from Hold at Jefferies... Palo Alto (PANW) upgraded to Buy from Hold at Argus... Pfizer (PFE) upgraded to Neutral from Reduce at SunTrust... Tech Data (TECD) upgraded to Market Perform from Underperform at Raymond James.
05:36 EDTBRGYYBG Group upgraded to Outperform from Sector Perform at RBC Capital
November 19, 2015
05:54 EDTBRGYYACCC says will not oppose Shell's acquisition of BG
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05:34 EDTBRGYYRoyal Dutch Shell, BG Group receives Australian antitrust clearance
Royal Dutch Shell (RDS.A, RDS.B) announced that its recommended combination with BG Group (BRGYY) has received unconditional merger clearance from the Australian Competition and Consumer Commission, or ACCC. Together with the previously announced clearances in Brazil and EU, three of the five pre-conditions to the combination have now been satisfied. The two remaining pre-conditional clearances are from Australia's Foreign Investment Review Board and China's Ministry of Commerce.

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