BP chief Dudley to step down after decade-long tenure September 28, 2019 The chief executive of BP is set to step down after 10 years of leading the British energy company. Bob Dudley is planning to retire from the role within the next 12 months, according to Sky News. The American turned 64 this month and has held detailed discussions with BP chairman Helge Lund about his [...]
Oil prices fall on possible limit to China investments September 28, 2019 The price of oil fell on Friday and was down for the week after an escalation in trade tensions between the US and China as well as a faster-than-expected recovery from Saudi Arabia’s oil production. During a volatile session, Brent fell 83 cents to end the day at $61.91 per barrel. Read more: Oil prices [...]
Donald Trump: I did not offer to lift Iran sanctions September 27, 2019 US President Donald Trump has hit out at his Iranian counterpart Hassan Rouhani after he claimed the US had offered to lift sanctions in exchange for discussions. Trump tweeted: “Iran wanted me to lift the sanctions imposed on them in order to meet. I said, of course, NO!” Read more: Oil prices tumble as Iran [...]
Oil prices tumble as Iran President says US has offered to drop sanctions September 27, 2019 Iran’s President Hassan Rouhani has said that the US offered to lift all sanctions on his country to bring it to the negotiating table, sending oil prices down. The US currently bans most trade with the oil-rich nation. Read more: British tanker Stena Impero seized by Iran leaves port The price of Brent crude oil, [...]
Will Tesco’s earnings drive further share price gains? September 27, 2019 | City Talk Tesco PLC reports earnings its first-half results on 2 October. The UK’s largest supermarket group is expected to report earnings of 7.5 pence per share, up 17.2 per cent on the year, while revenues are set to remain flat at £31.7 billion. Pretax profit is forecast to be £944 million. Tesco’s outlook is clouded by the [...]
Pound staggers as Bank of England hints at interest rate cut September 27, 2019 Sterling fell today as a top official at the Bank of England flagged a possible interest rate cut to offset continued Brexit uncertainty. The pound fell to its lowest value against the dollar in almost three weeks as BoE official Michael Saunders said the Bank may lower interest rates. “Quite why this is moving the [...]
Lenders throw lifeline to struggling Gulf Marine September 27, 2019 A struggling company which maintains oil rigs has convinced lenders to not cut its loans until the end of the year, management revealed this morning. Banks have agreed to roll over Gulf Marine Services’s existing $25m (£20m) capital facility and others which will keep it liquid and support growth until the end of 2019. Read [...]
FTSE 100 spikes as Trump whistleblower complaint sinks Asian and US stocks September 27, 2019 The FTSE 100 opened up again today after surging to an eight-week high yesterday, but later giving back some gains. Read more: FTSE 100 rises as US-China trade talks boost European stocks London’s main market climbed 0.96 per cent to 7,421.65 points as it opened, after the fallout from President Donald Trump’s whistleblower complaint hit [...]
IEA boss Fatih Birol: Oil demand could slow if economy stays weak September 27, 2019 The International Energy Agency could cut its forecasts for global oil demand again if economies around the world fail to pick up speed, its executive director warned today. IEA boss Fatih Birol said that a weaker global economy would reduce demand for oil. Read more: British tanker Stena Impero seized by Iran leaves port His [...]
British tanker Stena Impero seized by Iran leaves port September 27, 2019 British-flagged oil tanker Stena Impero, which has been held by Iran since July, is on the move, reports suggest, days after Iran said it was free to leave. Ship tracking data suggests that the vessel left the Bandar Abbas port earlier this morning. Read more: Iran ready to release seized UK oil tanker It comes [...]
