Lord Mandelson says it would be “suicidal” for China to abuse its involvement in Hinkley August 10, 2016 Lord Mandelson said today it would be “suicidal” for China to use its role in the Hinkley Point C nuclear power plant to compromise the UK’s national security. China's ambassador to the UK recently warned over relations between the two countries after Westminster pushed back its decision on the project. Read more: EDF chief knew government wanted to [...]
Amec Foster Wheeler rises as record North Sea revenue helps it beat estimates August 9, 2016 Amec Foster Wheeler closed up 11.71 per cent to 521p per share today, after the embattled oil and gas engineer's first half profit beat expectations. The figures Amec's revenue from continuing operations swelled seven per cent to £2.8bn in the six months ended 30 June, ahead of a company-supplied forecast for £2.5bn. The London-listed firm's trading profit stood at £177m during [...]
Anger erupts as North Sea decommissioning contract goes to non-UK firm August 9, 2016 Anger erupted today after UK companies lost out to a Norwegian firm in a tendering process to decommission an oil platform in the UK North Sea. Unions urged policymakers in Holyrood and Westminster to ensure that the UK North Sea oil and gas industry benefits from an estimated £47bn which will be spent on decommissioning by 2040. It comes [...]
UK steel industry under pressure as global trade war heats up August 9, 2016 Analysts have warned that the UK steel industry will come under increasing pressure as a global trade war picks up pace. It came after reports suggested South Korean steel giant Posco is mulling legal action against the US government for imposing duties of 57.04 per cent on some of its steel products. Read more: China iron ore imports [...]
Oil prices fall after Opec meeting talk fails to lift mood August 9, 2016 Crude prices fell today, after renewed hopes over a possible meeting of Opec producers gave way to pessimism. Brent crude, the global benchmark, fell 0.79 per cent to $45.03 per barrel this morning. Its US counterpart, West Texas Intermediate crude, slumped 0.60 per cent to $42.76. Read more: Why oil prices are pushing higher Venezuelan [...]
US jobs site Monster on £330m Dutch date with recruiter Randstad August 9, 2016 Remember Monster.com? It was one of the first companies to harness the power of the internet to help connect jobseekers and potential employers. It paved the way for the likes of LinkedIn and Glassdoor — as well as a new wave of snazzy job search apps, such as the so-called "tinder for jobs" Jobr (which it also acquired [...]
Why oil prices are pushing higher August 8, 2016 Crude rose today on fresh speculation that the Organisation of Petroleum Exporting Countries would move to curb the oversupply which has weighed on markets in recent weeks. Brent crude, the global benchmark, rose 2.42 per cent to $45.34 per barrel this afternoon. Its US counterpart, West Texas Intermediate crude, swelled 2.92 per cent to $43.02. Read more: The World Bank [...]
This little-known oil and gas explorer’s market cap has nearly trebled recently August 8, 2016 While Sound Energy's market cap has nearly trebled recently, the cherry on investors' cake came today. The Aim-listed oil and gas explorer confirmed that it made a "significant" discovery at a well in Morocco. It's flowing at a rate of 17.5m standard cubic feet per day which was "significantly above expectations". Read more: Companies aim away from junior market [...]
Row between unions and EDF over Hinkley delay ramps up August 8, 2016 French unions have said that the EDF's approval of the Hinkley Point C nuclear power plant isn’t valid, dealing another blow to the firm in their battle over the project's affordability. They said all of the French utility giant’s board members should have been made aware of the UK government’s intention to delay its decision on Hinkley, after [...]
