Serica Energy (SQZ)

Sector:

Energy Producers

Index:

FTSE AIM 50

107.20p
   
  • Change Today:
    -4.80p
  • 52 Week High: 143.40p
  • 52 Week Low: 103.60p
  • Currency: UK Pounds
  • Shares Issued: 267.23m
  • Volume: 118,854
  • Market Cap: £286.47m
  • RiskGrade: 261

White House give sanctions exemption to BP and Serica over Iran-owned licence

By Iain Gilbert

Date: Tuesday 09 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Oil giants British Petroleum and Serica Energy have been granted licences to run a North Sea gas field owned, in part, by Iran.
The White House made the rare exemption on Tuesday as the administration was beginning to take steps towards its next set of sanctions on Tehran.

President Trump's waiver extension will allow Serica to complete its acquisition of BP's stake in three fields in the region - the Rhum, Bruce and Keith fields - and will also grant it time to snap up Total's stakes in the Bruce and Keith fields.

Rhum, which supplies roughly 5% of the UK's gas, is half owned by Iranian Oil Company, a subsidiary of the national oil company.

While renewed US sanctions on Tehran, set to come into effect on 4 November, block US firms and citizens from doing business with Iranian companies, Serica said its new licence was conditional on it setting up an escrow account to hold its profits from the assets as long as Trump's new sanctions remained in place - a similar play to the one it had used during the last round of US.

As of 1130 BST, BP shares were up 0.45% to 579.20p, while Serica shares had shot up 33.87% to 103.08p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Serica Energy Market Data

Currency UK Pounds
Share Price 107.20p
Change Today -4.80p
% Change -4.29 %
52 Week High 143.40p
52 Week Low 103.60p
Volume 118,854
Shares Issued 267.23m
Market Cap £286.47m
RiskGrade 261

Serica Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
85.48% above the market average85.48% above the market average85.48% above the market average85.48% above the market average85.48% above the market average
3.23% above the sector average3.23% above the sector average3.23% above the sector average3.23% above the sector average3.23% above the sector average
Price Trend
12.43% below the market average12.43% below the market average12.43% below the market average12.43% below the market average12.43% below the market average
68.32% above the sector average68.32% above the sector average68.32% above the sector average68.32% above the sector average68.32% above the sector average
Income Not Available
Growth
98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average
93.44% above the sector average93.44% above the sector average93.44% above the sector average93.44% above the sector average93.44% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Serica Energy Dividends

No dividends found

Trades for 21-Feb-2020

Time Volume / Share Price
16:35 1,245 @ 107.20p
16:29 594 @ 110.00p
16:29 620 @ 110.00p
16:29 186 @ 109.40p
16:29 437 @ 107.40p

Serica Energy Key Personnel

CEO Mitchell Robert Flegg

Top of Page