Original article by Matt Chambers
The Australian – Page: 17 : 21-Jan-15

JP Morgan has lowered its 2014-15 earnings forecast for Australian-listed resources group BHP Billiton to $US8.3bn ($A10.1bn), or $US1.2bn less than the consensus. A major factor is that JP Morgan also expects the global crude oil price to fall further, and not recover for two years. Brent crude is now tipped to trade at $US49 a barrel in 2015 and $US57 in 2016, compared with previous estimates of $US82 and $US88 respectively. However the Global Energy Fund of Investec Asset Management has taken advantage of the bargain buying opportunity to acquire stock in energy company Santos

CORPORATES
BHP BILLITON LIMITED – ASX BHP, SANTOS LIMITED – ASX STO, WOODSIDE PETROLEUM LIMITED – ASX WPL, BEACH ENERGY LIMITED – ASX BPT, OIL SEARCH LIMITED – ASX OSH, JP MORGAN AUSTRALIA LIMITED, INVESTEC ASSET MANAGEMENT LIMITED, INVESTEC GLOBAL ENERGY FUND, LUKOIL-NEFTEGAZSTROY, CNOOC LIMITED, CHINA NATIONAL OFFSHORE OIL CORPORATION, PETROBRAS, PETROLEO BRASILEIRO SA