Oil heads for weekly loss as market rout threatens demand
Oil was poised for the biggest weekly decline since July as a rout in emerging markets raises concern energy demand will weaken.
market
Sterling slides amid UK government uncertainty
The pound continued to lose ground against the dollar and euro on Monday as uncertainty over the future of Theresa May’s fragile Government weighed on the currency.
Oil sector ‘one to watch’ as markets crack on
London could see a wave of flotations from life sciences, tech and resource firms in the new year as the stock market bounces back after a tough 2016, the chief executive of City broker FinnCap has said.
UK now the world’s largest offshore wind market
The UK is now the world's largest offshore wind market accounting for more than 40% of the installed capacity, according to new research.
Norway’s Central Bank seen done easing after oil crisis escape
Norway’s central bank is predicted to leave its key policy rate unchanged at a record low as the economy of western Europe’s biggest oil producer fights off the biggest slump in crude prices in a generation.
Iran’s President backs move to stabilise oil market and boost prices
Iran's President said the country would support any move to stabilise the global oil market and lift prices.
Biggest oil traders expect year of pain as supply glut endures
The largest oil traders are anticipating little relief to what has become the worst market slump in a generation.
Noble Midstream Partners looking to raise $23m from IPO
Noble Midstream Partners said it expects to raise as much as $263million in its initial public offering (IPO) after withdrawing plans to go public last year.
Petrofac’s finance chief reflects on “a lot of mileage”
Petrofac chief financial officer (CFO) Tim Weller said yesterday he was leaving the company with “a powerful franchise at its heart” as it recovers from the slump in oil prices.
Oil heads for weekly gain as Saudis reiterate wish for stability
Oil is heading for its biggest weekly advance since April as Saudi Arabia signaled it’s prepared to discuss stabilizing markets at informal OPEC discussions next month after prices tumbled into a bear market.
Maersk profit plunges as lower oil, shipping prices take toll
A.P. Moeller Maersk A/S, Denmark’s biggest company, reported an 88 percent drop in second-quarter profit as its oil and container divisions both suffered from falling prices.
Diamond Offshore Drilling posts quarterly loss
Diamond Offshore Drilling has posted a quarterly loss compared with a profit a year earlier.
Brexit: Oil tumbles as investors seek safety after vote
Oil tumbled with most commodities amid a global flight from risky assets as the UK voted to leave the European Union.
Brexit: Pound collapses on Leave win amid warnings of worse to come
The pound has crashed to its lowest level in 30 years as Britain heads for the European Union exit door, with experts warning of worse to come.
Energy meter price cap will cut bills by £300m a year, market regulator says
Four million households on pre-payment meters are to benefit from a temporary price cap which will reduce bills by around £300 million a year, the Competition and Markets Authority (CMA) said.
Sechin says Rosneft worth up to $130bn as Putin mulls sale
Russia’s Rosneft PJSC could be worth as much as $130 billion, Chief Executive Officer Igor Sechin said as President Vladimir Putin is reported to consider selling a stake in the state oil giant to China and India.
Dana Gas CEO expects ‘bumpy road’ for oil as shale sets floor
The oil market is heading for a “bumpy road” with prices close to levels that are profitable for U.S. shale producers, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC, which produces natural gas in Egypt and Iraq.
Economic growth forecasts revised down amid low oil price
Voters have been urged to consider the consequences that quitting Europe could have on Scotland’s economy, as a new report said growth over the long-term has been “weaker than the UK”.
British Gas profits at residential supply arm surge by 31%
British Gas has fuelled further controversy over energy prices as it announced profits at its residential supply arm surged by 31% in 2015.
Sembcorp Marine surges on talk of potential privatization
Sembcorp Marine Ltd., which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private.
GE posts 8% drop in fourth quarter earnings
GE has posted an 8% drop in fourth quarter earnings in its industrial business.
Markets tumble amid sliding oil prices
Markets tumbled on opening this morning as traders reacted to sliding oil prices, and as Royal Dutch Shell said its earnings are expected to more than halve for 2015. The FTSE 100 Index fell 3%, or 175.2 points, to 5699.5 after the price of Brent Crude fell below $27.50 before staging a slight recovery.
Expert claims sale of Saudi Aramco IPO would be “huge” moment in oil and gas sell offs
A leading oil and gas expert said an Initial Public Offering (IPO) by Saudi Aramco could potentially be the largest on record.
RedT Energy completes transaction for sale of US biogas assets
RedT Energy said the transaction for the sale of its US biogas assets has now been completed.
US oil is too good, too expensive and too far for Asia buyers
In the world’s biggest oil market, buyers have better options than US crude. As the country inches toward ending the last restrictions on exports, Asian buyers will probably have a limited appetite for the quality of crude on offer. Many of the region’s refiners are geared to process heavier, cheaper oil with higher sulfur content.