Norsk Hydro: Really Unlucky?
By William Trent, CFA of Stock Market Beat
Watch List company Norsk Hydro cuts output target
Norsk Hydro (NHY) cut its 2006 oil and gas output target on Friday by about 5 percent due to production shortfalls.Norsk Hydro shares dropped sharply on the news, but recovered from their steepest losses and traded down 2.7 percent at NOK 164.50 by 1140 GMT on the Oslo bourse, up from a session low of 161.”(It) is mainly due to unforeseen events in Norway, Canada and US Gulf of Mexico, and somewhat lower gas export from Norway than planned,” Norsk Hydro said.
Was there anyplace that Norsk Hydro foresaw events? It almost sounds like a commercial for peak oil pundits.
http://www.stockmarketbeat.com/
Watch List company Norsk Hydro cuts output target
Norsk Hydro (NHY) cut its 2006 oil and gas output target on Friday by about 5 percent due to production shortfalls.Norsk Hydro shares dropped sharply on the news, but recovered from their steepest losses and traded down 2.7 percent at NOK 164.50 by 1140 GMT on the Oslo bourse, up from a session low of 161.”(It) is mainly due to unforeseen events in Norway, Canada and US Gulf of Mexico, and somewhat lower gas export from Norway than planned,” Norsk Hydro said.
Was there anyplace that Norsk Hydro foresaw events? It almost sounds like a commercial for peak oil pundits.
http://www.stockmarketbeat.com/
posted by douglas mcintyre at 12:43 PM
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