Gas and oil giant BG (LSE: BG) has very quickly gone from stock-market darling to virtual pariah. That’s what happens when you don’t make as much money as the City expected you to.
A profit warning this week from the company has been blamed on the fact that a lot of its Egyptian gas is being sold domestically at lower prices, rather than exported for higher ones. A further blow is that BG is not going to produce as much oil and gas as people had thought it might this year.
For years investors were prepared to pay high [...]
Want to read this article now?
Already a MoneyWeek subscriber? Please log in below.
Not a subscriber? Sign-up now for a 4 week FREE trial to get instant access.