Oil price jumps as US considers a move on Iraq June 12, 2014 US PRESIDENT Barack Obama said last night that he would not rule out military action in Iraq, as the country descended further into violence following the fall of Mosul and Tikrit to Sunni Islamic insurgents. The turmoil has been reflected in global markets this week, with Brent crude oil hitting a three-month high of $112 [...]
Opec raises oil demand outlook for 2014 March 12, 2014 The Organisation of the Petroleum Exporting Countries (Opec) has today raised its forecast for oil demand growth in 2014 for the second month in a row. Opec, which accounts for 40 per cent of the world’s oil supply and represents 12 countries, has revised its forecast by 50,000 barrels per day to 1.14m bopd. Total [...]
Treasury committee to probe speculators over oil price surge July 14, 2008 The Treasury Select Committee will tomorrow examine the role of speculators in driving oil prices to record levels. Deputy chair of the influential committee Michael Fallon said: “We need to understand how much speculation is influencing that international market and what, if anything, governments can do about it.” Brent crude hit a new all-time high [...]
Russia’s Sibir Energy races towards FTSE July 8, 2008 London-listed mid-sized Russian oil company Sibir Energy said yesterday its full-year pre-tax profit trebled to $344m (£172m) due to higher output at its Siberian unit and strong margins from refining and retail. Sibir said its crude oil production rose 80 per cent in the year to 17.8 million barrels. Most of the output, 15.3 million [...]
McFall in oil probe July 4, 2008 Concern over the rising price of oil – which yesterday hit a new record of $146 a barrel – has prompted the powerful Treasury select committee to hold its first ever hearing into the regulation of the oil markets. The committee, which is chaired by Labour MP John McFall, will hold the hearing in mid-July [...]
Growth fears as oil surges to fresh peak July 1, 2008 Motorists and business to be hit as oil hits a new record of $143 a barrel in New York Crude oil prices rose to a record high of over $143 per barrel yesterday due to tensions in the Middle East, stoking fears that the global economy is being throttled by a double whammy of sky [...]
Oil prices lift Hydro October 26, 2005 Norwegian energy and metals business Norsk Hydro said its third-quarter net income rose 69 per cent on the back of rising oil and gas prices, despite rising costs in its aluminium business. This year oil prices have risen about 45 per cent and gas prices 27 per cent, which contributed to the company’s net income [...]
Paladin gets boost from Talisman October 21, 2005 City followers swept up British oil company Paladin’s shares after a £1.2bn bid with Canadian rival Talisman was agreed yesterday. Shares in Paladin rocketed to close up 74.5p, or 27 per cent, at 349.5p, after the details of the deal were announced. The deal values Paladin shares at 355p, a 17.8 per cent premium on [...]