Chevron CEO warns of high energy prices and supply crunches
The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron's top executive.
spending cuts
Apache slashes spending by more than 60%
Apache Corp cut its annual capital budget by nearly two-thirds and reported a quarterly loss smaller than analysts had expected as its costs fell.
Weir Group among biggest Footsie fallers
The FTSE 100 Index rose 9.3 points to 5,901.4 today as mining stocks were buoyed by hopes over progress to resolve the US fiscal cliff.
BG Group and Hunting shares both down
The London market closed higher today amid hopes two of the eurozone's struggling members would receive bailouts later this week.
‘Tax rises for oil and gas if Scots go solo’
Chief Treasury Secretary Danny Alexander will claim today that oil and gas taxes could be increased in an independent Scotland.
Investment slashed as incomes slide
Investment is being slashed by tens of billions of dollars across the oil&gas sector, largely as a result of the precipitous drop in prices since July, 2008. Global upstream budgets are falling for the first time in 10 years, according to the International Energy Agency.