Oil up as cyberattack knocks out US pipeline
Crude oil climbed along with gasoline in New York after a cyberattack put the largest oil-products pipeline in the U.S. out of action.
Markets
Will oil hit $80 this summer?
India, the world's third-largest oil importer, is the latest coronavirus hotspot. It has recently hit a record-breaking number of new daily coronavirus cases—a statistic that dented oil demand and pressured oil prices.
Altera in the black after shaking off impairments
Vessel owner-operator Altera Infrastructure was in the black in the first quarter of 2021 after shaking off impairments that blighted its figures a year ago.
i3 Energy edging closer to maiden dividend
London and Toronto-listed oil firm i3 Energy said today it would complete a balance sheet restructuring "shortly", which would allow it to pay a maiden dividend.
E&P upstream market leads the way in M&A activity
Anderson Anderson & Brown Corporate Finance (AABcf) is delighted to share with you our quarterly Deals+ update for Q1 2021 in conjunction with Energy Voice, highlighting selected Energy M&A and Fundraising transactions across the UK.
FCA considers how to strengthen rules
Many investors perceive risk warnings as “white noise” and often the genuine possibility of losing money does not sink in, according to the City regulator.
Schlumberger-backed Arabian Drilling plans Saudi IPO
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
Updated: End of the line in sight for Hurricane Energy
Bosses at Hurricane Energy have conceded that the troubled UK oil firm is likely to be wound down within the next few years.
RelyOn Nutec secures £3million training contract extension
Leading global safety firm, RelyOn Nutec UK, has secured a £3million contract extension with a UK-based leading engineering services firm.
Updated: BP starting share buybacks in second quarter after retiring net debt target
Energy giant BP surged back into the black in the first quarter of 2021 on the back of higher oil prices and “exceptional” gas marketing and trading performance.
Diamond CEO retires as firm emerges from chapter 11
Rig contractor Diamond Offshore Drilling has emerged from chapter 11 bankruptcy after completing a financial reorganisation.
Financiers are the new corporate sustainability activists, new research from Addleshaw Goddard reveals
A major new European research study reveals that the financial community is driving action on sustainability.
Fugro bosses predict ‘modest’ margin improvement in 2021
Fugro today reported a first quarter revenue drop, which it said was “fully driven” by Covid and a “strong” related decline in oil and gas activities.
Safety equipment firm Survitec completes £270m refinancing
Survitec has completed a £270 million refinancing in a “key milestone” for the survival and safety equipment and training business.
‘Zombie firms’ could take bite out recovery
The age old debate of who gets what is likely to become even more fervent after the global pandemic.
E&P firms that ‘get it right’ can still access equity capital markets
Investors are being increasingly influenced by environmental, social and governance (ESG) themes, but the “hunt for value” still takes centre stage.
i3 Energy allocates £1.16m for maiden dividend, says Serenity farm-out talks advanced
London and Toronto-listed oil firm i3 Energy said today it is close to declaring its maiden dividend.
Exemptions promise on new policy shows government taking concerns on board
Subsea industry chief Neil Gordon says exemptions to the UK Government’s new policy on fossil fuels projects abroad shows the sector's concerns had been heeded.
China’s oil imports surge as Brent cracks $70
China’s crude oil imports surged 28% year-on-year to 12.35 million barrels per day (b/d) in February. This was 2.7 million b/d higher compared to the same period a year ago, the latest data from analytics firm OilX showed.
Oil jumps above $71 after key Saudi crude terminal attacked
Oil surged above $71 a barrel in Asian trading after Saudi Arabia said the world’s largest crude terminal was attacked, although output appeared to be unaffected after the missiles and drones were intercepted.
Updated: Activist investor says relationship with Hurricane Energy has ‘deteriorated dramatically’
One of Hurricane Energy’s biggest shareholders has threatened to take “appropriate action” to maximise the company’s potential after complaining of a breakdown in their relationship.
Court approval clears path for Valaris’ emergence from chapter 11
Rig contractor Valaris has received approval from a US bankruptcy court for its Chapter 11 plan of reorganisation.
Premier-Chrysaor merger gets blessing from regulators and anti-trust bodies
London-listed Premier Oil’s reverse takeover by Chrysaor is on track to complete on March 31.
i3 to declare maiden dividend, in talks over Serenity stake sale
London and Toronto-listed i3 Energy said today it expects to declare its maiden dividend during the current quarter.
UK wind farm investor Greencoat raising £200m through placing
Renewable infrastructure fund Greencoat UK Wind has said it would raise £198 million through a placing of new shares announced on February 12.