Oil prices slide back to $48 after two-day jump September 30, 2016 Oil prices fell today after a seven per cent rise in the last two sessions as doubts grew over the ability of Opec's output cut to accelerate the stricken market's recovery. Brent crude, the global benchmark, fell as much as 1.77 per cent to $48.62 per barrel in mid-morning trading, having settled up about 1.1 per cent [...]
Entertainment One shares rise on boost from Peppa Pig September 30, 2016 Shares in Entertainment One ticked up 0.10 per cent to 213.30p this morning after the Peppa Pig maker revealed it was on track to meet expectations this year. The film and TV distributor, which recently rebuffed a £1bn takeover bid by ITV, revealed an independent valuation of its library had risen to $1.5bn (£1.2bn) from $1bn. This was driven by [...]
UK coal power generation falls to a record low September 29, 2016 The proportion of UK electricity which was generated by coal-fired power stations fell to a record low in the second quarter as a string of plants closed down. Official data released today showed coal made up 5.8 per cent of the UK's power mix during this period, down from 20 per cent the same time a [...]
EDF and UK government ink Hinkley Point C contract September 29, 2016 The UK government and French utility giant EDF signed the key contract for the new £18bn Hinkley Point C nuclear power station today. They were joined by minority investor China General Nuclear Power at a signing ceremony in London. It was the second attempt to finalise the deal after Prime Minister Theresa May asked for a delay at the 11th [...]
Oil prices waver as doubts circulate over Opec production cut September 29, 2016 The brief oil price rally stalled this afternoon as doubts mounted over Opec's provisional agreement to cut oil output for the first time since 2008. Ranko Berich, head of market analysis at Monex Europe, said: "It appears that market participants remain sceptical of Opec’s mettle, and if the cuts announced will be sufficient to clear [...]
First masters degree in offshore decommissioning launched in Aberdeen September 29, 2016 What's believed to be the world's first masters degree in decommissioning has been launched by the University of Aberdeen in partnership with Robert Gordon University. Both universities said today that they are developing a suite of joint masters degrees focusing on key aspects associated with safely dismantling old oil rigs and platforms such as engineering, project management, business, [...]
British steel “on track” to shake off multi-million pound losses and return to profit September 29, 2016 British Steel said today that it’s on track to go from making multi-million pound losses to returning a profit in this financial year. The firm successfully completed the first stage of its turnaround plan which included efficiency and cost-cutting measures, 270 new employees as well as a £50m capital investment. Read more: Union calls on Tata Steel [...]
Everything you need to know about Opec’s output cut agreement September 29, 2016 Markets swung wildly this morning after Opec provisionally agreed to cut oil output for the first time since 2008, as it tries to accelerate the stricken market's recovery. What the agreement entails The Organisation of the Petroleum Exporting Countries (Opec) said yesterday that it would cut output to a range of 32.5-33m barrels per day. But how much each country [...]
Finnish firm takes Hinkley Point C nuclear reactor-designer Areva to court September 28, 2016 Finnish utility Teollisuuden Voima (TVO) said today that it has started legal action against the same company which is supplying two nuclear reactors to Hinkley Point C. It's taking Areva to court over delays at Olkiluoto 3 nuclear reactor in Finland. The project, which was supposed to showcase EDF and its engineering partner Areva's EPR technology, has been plagued by disputes, [...]
Ofgem warns bidders National Grid gas business earnings are not guaranteed September 28, 2016 Ofgem has warned bidders who are vying for a majority stake in National Grid's gas unit that their earnings would not be guaranteed. It published an open letter to potential buyers saying that any premium they pay above existing values may not be compensated when Ofgem sets new price controls for the period after 2021. Read [...]
