News with Tags "Nickel"

Hydro`s underlying earnings before financial items and tax amounted to NOK 557 million in the first quarter, down from NOK 1,133 million in the previous quarter. Lower realized aluminium prices and continued weak markets, in particular for European extrusion operations, weighed down underlying results. Hydro`s Energy business posted solid results along with power production at record levels.

• Underlying EBIT NOK 557 million 

• Lower alumina and aluminium prices 

• Solid production performance 

• Strong Energy result, record production level 

• Aluminium sales volumes up on seasonal effects, alumina sales down 

• 2012 aluminium demand growth outlook around 3 percent outside China 

“Continued weak demand and low aluminium prices weigh down first-quarter results. We will continue our restructuring efforts, reduce costs and take firm actions required to keep a steady course,” Hydro`s President and CEO Svein Richard Brandtzæg said. “Dependent on the further macro-economic development in Europe, we expect global aluminium demand growth outside China at around 3 percent in 2012,” he said.

“I am pleased to see strong production performance, particularly in the strategically important assets Qatalum, Paragominas and Alunorte, providing a firm foundation for progress when markets pick up. Effective and forceful improvement programs in our fully owned smelters are proceeding according to plan, also contributing to a solid platform for the future,” Brandtzæg said.

Underlying EBIT for Bauxite & Alumina fell from the fourth quarter, mainly due to lower realized alumina prices and lower sales volumes. Bauxite and alumina production was stable.

Lower realized aluminium prices and lower premiums had a substantial negative effect on underlying EBIT for Primary Metal in the quarter, partly offset by higher sales volumes and lower raw material costs. Production volumes declined mainly due to the curtailment of one production line at the Kurri Kurri smelter in Australia.

Underlying results for Hydro`s midstream operations rose from the fourth quarter which included significant negative currency effects. Underlying EBIT excluding currency effects increased in the first quarter, mainly due to higher volumes in the remelt operations.

Underlying EBIT for Hydro`s downstream business, Rolled Products and Extruded Products, improved from the fourth quarter result which was hit by seasonal declines and poor market developments in Europe. Demand remained weak for Hydro`s European extrusion business and Building Systems in particular.

The Energy business area continued to deliver solid underlying results for the quarter along with power production at record levels.

Operating cash flow amounted to NOK 0.6 billion for the quarter. Net cash used for investment activities amounted to NOK 0.9 billion. Hydro`s net cash position was NOK 1.5 billion at the end of the first quarter.

Reported earnings before financial items and tax amounted to NOK 665 million in the first quarter including net unrealized derivative gains of NOK 307 million, negative metal effects of NOK 60 million and rationalization and closure costs of NOK 132 million. Amounts relating to other items of a special or infrequent nature were not significant for the first quarter.

Hydro had net income of NOK 585 million for the first quarter including net foreign exchange gains of NOK 410 million. In the fourth quarter, Hydro incurred a net loss amounting to NOK 749 million including net foreign exchange losses of NOK 28 million.

Investor contact
Contact     Rikard Lindqvist
Cellular    +47 41751199
E-mail      Rikard.Lindqvist@hydro.com

Press contact
Contact     Halvor Molland
Cellular    +47 92979797
E-mail      Halvor.Molland@hydro.com

                                                       *********
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management`s plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro`s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.  Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized.  Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro`s key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct.  Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Q1 Presentation
Q1 Report

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Norsk Hydro via Thomson Reuters ONE
HUG#1606521

Hydro`s underlying earnings before financial items and tax amounted to NOK 557 million in the first quarter, down from NOK 1,133 million in the previous quarter. Lower realized aluminium prices and continued weak markets, in particular for European extrusion operations, weighed down underlying results. Hydro`s Energy business posted solid results along with power production at record levels.

• Underlying EBIT NOK 557 million 

• Lower alumina and aluminium prices 

• Solid production performance 

• Strong Energy result, record production level 

• Aluminium sales volumes up on seasonal effects, alumina sales down 

• 2012 aluminium demand growth outlook around 3 percent outside China 

“Continued weak demand and low aluminium prices weigh down first-quarter results. We will continue our restructuring efforts, reduce costs and take firm actions required to keep a steady course,” Hydro`s President and CEO Svein Richard Brandtzæg said. “Dependent on the further macro-economic development in Europe, we expect global aluminium demand growth outside China at around 3 percent in 2012,” he said.

“I am pleased to see strong production performance, particularly in the strategically important assets Qatalum, Paragominas and Alunorte, providing a firm foundation for progress when markets pick up. Effective and forceful improvement programs in our fully owned smelters are proceeding according to plan, also contributing to a solid platform for the future,” Brandtzæg said.

Underlying EBIT for Bauxite & Alumina fell from the fourth quarter, mainly due to lower realized alumina prices and lower sales volumes. Bauxite and alumina production was stable.

Lower realized aluminium prices and lower premiums had a substantial negative effect on underlying EBIT for Primary Metal in the quarter, partly offset by higher sales volumes and lower raw material costs. Production volumes declined mainly due to the curtailment of one production line at the Kurri Kurri smelter in Australia.

Underlying results for Hydro`s midstream operations rose from the fourth quarter which included significant negative currency effects. Underlying EBIT excluding currency effects increased in the first quarter, mainly due to higher volumes in the remelt operations.

Underlying EBIT for Hydro`s downstream business, Rolled Products and Extruded Products, improved from the fourth quarter result which was hit by seasonal declines and poor market developments in Europe. Demand remained weak for Hydro`s European extrusion business and Building Systems in particular.

The Energy business area continued to deliver solid underlying results for the quarter along with power production at record levels.

Operating cash flow amounted to NOK 0.6 billion for the quarter. Net cash used for investment activities amounted to NOK 0.9 billion. Hydro`s net cash position was NOK 1.5 billion at the end of the first quarter.

Reported earnings before financial items and tax amounted to NOK 665 million in the first quarter including net unrealized derivative gains of NOK 307 million, negative metal effects of NOK 60 million and rationalization and closure costs of NOK 132 million. Amounts relating to other items of a special or infrequent nature were not significant for the first quarter.

Hydro had net income of NOK 585 million for the first quarter including net foreign exchange gains of NOK 410 million. In the fourth quarter, Hydro incurred a net loss amounting to NOK 749 million including net foreign exchange losses of NOK 28 million.

Investor contact
Contact     Rikard Lindqvist
Cellular    +47 41751199
E-mail      Rikard.Lindqvist@hydro.com

Press contact
Contact     Halvor Molland
Cellular    +47 92979797
E-mail      Halvor.Molland@hydro.com

                                                       *********
Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management`s plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro`s markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”, “intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty.  Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized.  Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro`s key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct.  Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Q1 Presentation
Q1 Report

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Norsk Hydro via Thomson Reuters ONE
HUG#1606521

Neste Oil Corporation
Press release
26 April 2012 at 9:20 am (EET)

Neste Oil sold its first batch of NExBTL renewable diesel to the US market

Neste Oil has recently supplied its first batch of NExBTL renewable diesel to the US market. The fuel, which qualifies as an advanced biofuel in the US, was produced at the company`s Porvoo refinery in Finland from waste fats.

“We are very pleased to see that legislation on renewable fuels and our ability to meet the import regulations for these types of fuels are progressing in various markets. This enables us to participate and contribute to the greenhouse gas reduction efforts around the world,” says Matti Lehmus, Neste Oil`s Executive Vice President, Oil Products and Renewables.

“Our entry into the US renewable fuel market is an important milestone for us, as the US represents a major market for premium-quality biofuels. We are also proud of our contribution to the US Renewable Fuel Standard. The RFS regulation enables and encourages the reduction of greenhouse gases and diversification of the US fuel supply. NExBTL renewable diesel is an ideal low-carbon fuel for the US market as it is completely fungible with the existing extensive infrastructure – and is accepted within the existing refinery and pipeline distribution system. 

“In addition to the US, we have also expanded our customer base in Europe as well, opening up new opportunities for NExBTL sales as we go forward,” continues Lehmus.

Neste Oil`s sales of renewable fuels this year have grown as expected, according to the company`s Interim Report published today. Neste Oil sold 305,000 tons of NExBTL renewable diesel to several dozens of customers in over ten countries during the first quarter of 2012.

Neste Oil has a long history of supplying premium-quality, low-emission petroleum products, such as gasoline, diesel and base oils, to North America.

“We look forward to continued participation by helping US refiners and blenders meet their renewable volume obligation with our NExBTL renewable diesel.”

Neste Oil Corporation

Hanna Maula
Director, Corporate Communications

Further information:

Matti Lehmus, Executive Vice President, Oil Products and Renewables, tel. +358 (0)50 458 4072
Kaisa Hietala, Vice President, Market Development, tel. +358 (0)50 458 4128

Photos for media use attached.

Neste Oil in brief:

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world`s leading supplier of renewable diesel. Neste Oil had net sales of EUR 15.4 billion in 2011 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.

Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world`s most sustainable corporations for a number of years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com

NExBTL renewable diesel in brief:

Based on Neste Oil`s proprietary technology, premium-quality NExBTL renewable diesel is the most advanced diesel fuel on the market today. It easily outperforms both conventional biodiesel and fossil diesel, and is suitable to be used in all modern diesel engines without any modifications. The fuel can be used as such or as a high-quality bio-component blended with fossil diesel or conventional biodiesel. Unlike conventional biodiesels, NExBTL renewable diesel meets even the most stringent requirements set by automotive manufacturers and offers excellent performance at very low temperatures. It is fully compatible with existing distribution and logistical systems and requires no additional investments in this area.

NExBTL renewable diesel has been shown to reduce greenhouse gas emissions by 40-80% over the product`s entire life cycle when compared to fossil diesel. Its lower tailpipe emissions also make a valuable contribution to enhancing overall air quality. The fuel can be produced flexibly by hydrotreating various vegetable oils, animal-based waste fats, and by-products of vegetable oil refining. All the renewable raw materials used for NExBTL production are sustainably produced, fully traceable, and comply with the EU Renewable Energy Directive`s strict sustainability criteria.

Photo2: First NExBTL diesel cargo to the US
Photo1: First NExBTL diesel cargo to the US

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Neste Oil Oyj via Thomson Reuters ONE
HUG#1606182

TULSA, OKLAHOMA April 24, 2012-Laredo Petroleum Holdings, Inc. (the “Company”) (LPI) announced today the pricing of $500 million in aggregate principal amount of 7.375% senior notes due 2022 issued by its wholly-owned subsidiary Laredo Petroleum, Inc. (the “Issuer”).  Interest is payable on May 1 and November 1 of each year.  The first interest payment will be made on November 1, 2012, and will consist of interest from closing to that date.  The offering is expected to close on April 27, 2012, subject to customary closing conditions.  The Issuer will use the net proceeds of the offering, if completed, to pay off loan amounts outstanding under its revolving credit facility and for general corporate purposes.  The senior notes will be senior unsecured obligations of the Issuer and will be guaranteed on a senior unsecured basis by the Company and all of its existing (other than the Issuer) and future subsidiaries, with certain exceptions.

The senior notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.  The senior notes will be offered and sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the senior notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which, or to any person to whom, such an offer, solicitation or sale is unlawful.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended.  All statements, other than statements of historical fact, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.  There are many risks and uncertainties that could cause actual results to differ materially from our forward-looking statements, including successful closing.  These forward-looking statements are also affected by risks described in the Company`s Annual Report on Form 10-K for the year ended December 31, 2011 and those set forth from time to time in the Company`s other filings with the Securities and Exchange Commission.  We undertake no obligation to publicly update or revise any forward-looking statement.

Contact:
Laredo Petroleum Holdings, Inc.
Joan Dunlap, Investor Relations
(918) 513-4570

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Laredo Petroleum, Inc via Thomson Reuters ONE
HUG#1605703