Luthori

[Ligbruderkrieg]

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Disappointment over failure to secure oil bid in New Englia sparks controversy on LP. 
11th, April 5714

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The recent failure from Luthorian Petroleum to convince the New Englian authorities about the Rossafada oil fields sparked controversy and debate among LP investors over this failure. Investors and government officials alike have begun searching for potential reason for the failure of the Luthorian bid to convince the New Englian authorities. Some blamed the “bland” LP plan for exploitation; some blamed the lack of alternative energy development plan for New Englia. 

All and all, all reasons were thrown to the company – as in to blame it for the unfortunate result. LP’s CEO Kim Ann-Myung (Ann being the Luthorian name – for specification) - expressed “solemn disappointment” at the recent bid loss, expressing support for “renewed investments” into the domestic oil industry. She said “We haven’t been competitive on this field, that’s a fact, now I’m personally seeing one pattern, the other corporations had the full support of their governments, ultimately leading to their victories [...] what is needed now is a renewed investment on oil,” she concluded. 

Mrs. Ann-Myung's comments were immediately criticised by the Chancellor of the Exchequer, who argued that the government “had provided its full support to the Luthorian Petroleum’s bid”, he moreover added that “comments such as these are merely trying to deflect from the real reasons for the failure of this bid.” 

Luthorian Petroleum’s stock at the Fort William Stock Exchange saw a dramatic downturn following the announcement of the bid’s result, with Mrs. Ann-Myung stating that this development “didn’t surprise her a bit”, as she and the LP reflects on the loss. Reports from the FWSE addressed that the LP stocks were down to £31.50, from £34.25, a moderate drop of –8.03% in one single day. 

It does reflect the lack of confidence that investors have upon the company, with many choosing to sell their shares out of fear. Investors and traders alike expect that this downward turn of LP shall continue for the rest of the week, although it’s likely to stabilise by Thursday with a return to “normal levels” by two weeks. 

“Oil is a very volatile market,” Patrick Strayman said. “Many investors are still vorried about the oil price due to Luthori’s reliance on the black gold,” he continued, but nevertheless added “the oil market has never been that stable before, no rogue actors have enough power to actually shake the worldwide oil market.” 

The disappointment over the failure of Luthori’s bid even reached the nation’s shipping corporation, which stocks and overall value saw a boost following the announcement of Luthorian interest in the bid, it was hoped that Luthorian corporations would have been used for transportation – if the bid was successful that is. SouthSeas’s CEO, Joe Patrick “acknowledged” reality but also expressed “deep frustration” with the whole ordeal. SouthSeas, ASC and MedShipping’s stocks also saw a decrease in the last day of trading. 

SouthSeas’ stocks declined by 1.03%, passing from £51.27 to £50.72, the Artanian Shipping Company’s stocks declined by 2.44%, from £46.22 to £45.09, just as examples of shipping corporations that were negatively impacted by the New Englian oil bidding process. 

Luthori’s banking sector was also slightly negatively impacted. Although the so-called “Big Five” Luthorian banks only reported “slight” or “insignificant” losses on last week. 

Kim Ann-Myung expressed “openness” at an insider debate within LP to understand the reasons for the bid’s ultimate rejection – a move aimed at “ameliorating our brand and learning from our mistakes in the future,” according to the firm’s chief executive officer. She nevertheless excluded any potential resignation – saying that “our failures weren’t institutional – they were merely practical.” 

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The Financial Inquirer (FT) is a newspaper focusing on the newest financial and economic information, based in Fort William and belonging to the ChurchillGroup.