Oil dropped for a third day as U.S. industry data showed crude stockpiles expanded and as OPEC ministers arrive in Vienna to decide on prolonging supply cuts past the end of March.
Tullow Oil today confirmed the completion of its refinancing of $2.5billion of Reserves Based Lending (RBL) credit facilities.
Shares in Royal Dutch Shell shot to the top of the FTSE 100 after the oil giant announced it was restoring its cash dividends after more than two years in the latest sign that the industry is emerging from an extended slump.
OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc.
Oil major Shell said today that it would cancel its scrip dividend programme from the fourth quarter of 2017.
Oil advanced to a fresh two-year high as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts to the end of next year.
Oil headed for its best weekly advance in a month after an outage on the Keystone pipeline added to speculation crude supply could tighten and as investors await OPEC’s decision on extending output curbs.
Centrica plunged the most in 20 years as earnings are expected to fall below market consensus after a disappointing performance by its energy supply business.
Oil traders and analysts almost unanimously expect OPEC and Russia to prolong their production cuts next week. However, behind the scenes Saudi Arabia and Russia are still debating what course to follow.
Centrica is headed for its worst year as investor skepticism over the utility’s strategy and the political turmoil plaguing U.K. energy suppliers shows no sign of ending.
Oil headed for its highest close since June 2015 while trading volume surged after U.S. industry data showed crude stockpiles resumed declines and as investors await a decision by OPEC on extending output cuts.
OPEC has an Iraq problem: the group’s second-biggest exporter is lurching between quota busting and production-crimping crisis, clouding the policy-making picture as ministers decide how long they need to extend output curbs.
British Gas owner Centrica is scrapping standard gas and electricity tariffs (SVT) for new customers ahead of Government plans to impose a price cap on the costly energy products.
Oil held gains above $56 a barrel after surging the most in almost two weeks as Saudi Arabia’s energy minister said OPEC should announce an extension to supply cuts when it meets at the end of the month.
The private-equity owner of north-east energy service Proserv has underlined its faith in the business despite recent troubles.
Crude sunk after a government report showed U.S. inventories piled up for a second week just as Russia is said to be less than convinced that OPEC should extend its output limits in a meeting at the end of this month.
The FTSE 100 drops 37 points (0.5%) during lunch with a dip in oil and mining stocks being blamed for its lowest level since October.
The way the world meets global energy demand is changing dramatically according to the latest version of the International Energy Agency’s (IEA) flagship publication.
Millions of vulnerable households will hand half a billion pounds more than needed to Big Six energy suppliers
Around 4 million "vulnerable" households will hand over nearly £500 million more than needed to the Big Six energy suppliers this year due to being trapped on expensive tariffs, according to new Ofgem data.
Energy giant Ineos has snapped up Swiss football club Lausanne-Sport for an undisclosed sum.
General Electric Co.’s new boss is dramatically reshaping the company and slashing the dividend as he looks to pull the manufacturing icon out of one of the deepest slumps in its 125-year history.
Energy giant Innogy has booked a 480 million euro (£428 million) charge on utility provider NPower as it grapples with the commercial and regulatory pressures in the UK market.
Oil is heading for a fifth weekly advance as political upheaval in the world’s biggest crude exporter countered an expansion of U.S. output to the highest level in more than three decades.
Three north-east firms have joined an international “elite” and the London Stock Exchange (LSE) in a move aimed at spurring them onto further growth.
The US Energy Information Administration (EIA) projects that global nuclear capacity will grow at an average annual rate of 1.6% from 2016 through 2040, led predominantly by countries outside of the Organization for Economic Cooperation and Development (OECD).