FTSE 100 plummets 2% on Trump victory before rallying
The UK’s blue-chip index plunged on opening as Donald Trump’s victory in the US presidential election spooked markets, before paring back losses.
Donald Trump wins race for White House, Commodities in turmoil
Donald Trump is to be the next president of the United States after voters gambled on his promise to “Make America Great Again”.
Tech Tuesday: How NASA used space technology to solve problem for Brent
Energy Voice has teamed up with Shell to celebrate 40 years of Brent. This promoted series will examine the people, milestones and technology that helped make this historic North Sea find possible. It will also analyse what lies ahead for the breakthrough discovery. Happy 40th Brent!
Nuclear industry body says Hinkley should only be a start
The Government’s strategy on nuclear power must not stop with giving the go-ahead for the new site at Hinkley, ministers are being urged.
Promoted: Rotech Subsea – leading the world in excavation
For over 20 years, Rotech Subsea has been at the forefront of research and development in excavation – offering industry-leading technology and expertise. Rotech Subsea began developing their first Mass Flow Excavation tool – the FlowDredger – in 1994, with the aim of creating a stable tool that could excavate large amounts of soft seabed quickly using a very large jet of seawater at a relatively low pressure. The FlowDredger employed two counter-rotating impellers, operating in series, and a seawater-driven hydraulic motor. This first generation tool was capable of producing up to 8000 litres per second at a pressure of 11kPa, giving a powerful 85kW jet. Four years later, the company built the first T-shaped excavator. This time oil hydraulics replaced the seawater drive, which greatly improved efficiency and longevity. The patented T-shaped design of the ‘T8000’ – as this model was dubbed - also offered improved access to the internal components for offshore maintenance. It had the same performance as the original excavator and at lower flow rates the power of the jet could be increased to 130kW. For the next decade and a half, these excavators were the best Mass Flow Excavation tools on the market for large scale projects.
Survey: Renewables shows jobs growth potential, says expert
The renewables sector is providing the greatest opportunity for job growth, according to the managing director of energyjobline.com.
Take energy jobs survey, win Amazon gift vouchers
Energy Voice has recently partnered with Airswift and Energy Jobline to create the world’s largest energy research report: GETI (The Global Energy Talent Index). The report will investigate critical topics within the energy and engineering industries.
Public support for fracking hits new low, survey says
Public support for fracking has fallen to new lows, a Government survey has revealed.
FtSE 100 falters as Lloyds sets another £1bn aside for PPI claims
London’s top flight index swung into the red after investors soured to Lloyds Banking Group’s plans to hive off another £1 billion for the mis-selling of payment protection insurance (PPI). The FTSE 100 Index crashed back below the psychological 7,000 mark, down 63.19 points to 6,954.39, after the banking giant said extra money for compensation claims had caused statutory pre-tax profits to drop 15% to £811 million in the third quarter. Shares in Lloyds were down more than 3%, or 1.8p to 53.6p, with the fresh round of PPI funds bringing its total compensation bill to £17 billion. Neil Wilson, markets analyst at ETX Capital, said investors had cooled on Lloyds and the results “won’t make them love it any more”. “It’s not just PPI - Lloyds is hugely exposed to the UK economy and there is a worry post-Brexit that this will crimp earnings going forward. “Lower interest rates aren’t helping either, as they suppress net interest margin, which fell to 2.69% from 2.74% in second quarter.” Despite Lloyds’ woes on the London market, mining giant Antofagasta was leading the biggest fallers after saying that production would come in shy of expectations this year and could fall further in 2017. Shares were down more than 7% following its third quarter update, dropping 41.8p to 498.7p. Negative sentiment also spread to its biggest rivals, with Anglo American falling 24.5p to 1089.5p and BHP Billiton off 24p to 1237p. Across Europe, Germany’s Dax was down 0.7% and the Cac 40 in France slipped 0.6%. On the currency markets, the pound was making gains against the US dollar after enduring a tumultuous day’s trading on Tuesday. Sterling had dropped 1% to 1.20 US dollars in the previous session, before recovering its losses when Bank of England governor Mark Carney told a House of Lords committee that the market reaction to Brexit could be “mistaken”. On Wednesday, the pound was up 0.2% against the US dollar at 1.22 US dollars, but was 0.1% lower against the euro at 1.11 euro. The price of oil dropped 1.2% to 50.17 US dollars a barrel after concerns over a global supply glut re-emerged amid growing production in Nigeria and reports of rising US crude stocks. In UK stocks, Vodafone was in the red after it was stung by a £4.6 million fine by the telecom’s watchdog. The fine is a result of two investigations by Ofcom which found Vodafone was mishandling customer complaints and failed to credit the accounts of more than 10,452 pay-as-you-go customers who topped up their accounts. Shares were down 0.5p to 225.5p.
Death of pioneering North Sea doctor
Highly decorated Dr Norman (Nick) McIver has died aged 76.
19 die as helicopter carrying oil workers crashes in Russia
A helicopter carrying oil workers has crashed in northern Russia, killing 19 people.
Promoted: New white paper highlights complexity and future of offshore travel
A White Paper, “Marine & Offshore Travel: All hands on deck” commissioned by Amadeus, a leading provider of advanced technology solutions for the global travel industry, concludes that travel in this sector is one of the most complex and mission critical. Not surprising when these travellers, estimated to be some 7.7 million, are responsible for moving 90% of the goods and resources that are consumed around the world.
Boris Johnson urged to intervene over dual-nationals jailed in Iran, including oil worker
The families of two dual-nationals jailed in Iran are calling on the UK Government to do more to secure their release.
Iraqi and Kurdish forces launch new offensive in bid to get IS out of Mosul
Iraqi and Kurdish forces have launched a new offensive near Mosul as part of a bid to retake the city from Islamic State.
IS attacks Iraqi city of Kirkuk and power plant amid Mosul fight
Militants attacked targets in and around the northern Iraqi city of Kirkuk on Friday in an assault quickly claimed by the Islamic State group and aimed at diverting attention from the battle to retake IS-held Mosul. At least 11 workers, including two Iranians, were killed when IS militants stormed a power plant north of Kirkuk and then blew themselves up.
New nuclear-powered submarine to be named HMS Dreadnought
The UK’s new nuclear-powered submarine is to be named HMS Dreadnought, it was announced today to coincide with the anniversary of the Navy’s victory at the Battle of Trafalgar.
Presidential Debate: Trump and Clinton’s views on energy
As Hillary Clinton and Donald Trump gear up for their third and final debate ahead of next month's presidential vote, Energy Voice takes a look at their energy positions according to their own websites.
Unemployment falls to lowest level since 2008
Unemployment has fallen by 25,000 in three months, bringing the jobless total in Scotland to the lowest level since 2008.
Promoted: LiftEx attracts record exhibitors; Find out who is going to be there
LiftEx, the UK’s only exhibition and industry conference dedicated to overhead lifting and safe work at height, is pleased to announce a record number of visitors registered to attend the show, as well as exhibitors confirmed for its 2016 edition. For a full list please visit click here.
Iraq advance on Mosul slows, Isis sets fire to oil wells
The pace of the fight to retake Mosul from the Islamic State group has slowed as Iraqi forces advancing to the east and south of the city began pushing towards larger villages and encountering civilian populations.
AA laments ‘hammer blow’ as price of petrol hits highest level in more than a year
The price of petrol has reached its highest level in over a year, new figures show.
Scottish windfarm breaches ‘wild land map’
The Scottish Government has given the go-ahead to the first windfarm to breach the boundaries of its own wild land map, it has emerged.
Promoted: Learn to lead at Willow Creek Global Leadership Summit
Local people will have the opportunity to sharpen their leadership skills next month when an international leadership summit is held in Aberdeen.
Green power subsidies ‘still adding too much to energy bills’
Controls on green power subsidies, which are set to add £110 to household energy bills by 2020, have not delivered value for money, a report has warned.
Scottish power line moves ahead
A temporary compound has been built on Scotland's Moray coast as part of a massive subsea cable project.