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BUZZ-European energy sector continues slide, drags miners along

Tue, 13th Jan 2015 09:34

** London-listed oil and gas producers down as crude oilprices flirt with lowest levels since early 2009

** Eland Oil & Gas Plc down as much as 19 pct,topping the losers on the London Stock Exchange, and Enquest Plc down nearly 10 pct

** Oil producer Afren down as much as 7.8 pct at25.19 pence, extending losses from Monday, when it said reservesat Barda Rash oilfield in Iraqi Kurdistan nearly empty

** Afren shares touch near 6-year lows, having fallen 82 pctsince the end of July last year when news of an authorisedpayments scandal first broke

** Africa-focused Tullow Oil Plc, down 2.5 pct, isexpected to announce job cuts by the end of the first quarter,The Telegraph reported

** Shell said last week would cut 5-10 pctjobs at Alberta oil sands project. Shell down about 1 pct

** Fall in oil prices also drags down miners with oil andgas operations, with BHP Billiton Plc, Rio Tinto Plc and Vedanta Resources Plc, down between 0.5 and2.5 pct. Commodities trader Glencore Plc down 1.5 pct

** Canaccord Genuity analyst Nick Hatch also points togeneral weakness in the mining sector, which has been in roughweather since the end of July due to falling commodity pricesand tepid China data (abhiram.nandakumar.thomsonreuters.com@reuters.net)

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