WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2012 FINANCIAL TIMES Osborne sues to deter EU overreach George Osborne is taking legal action in a bid to stop the EU from overreaching its powers by giving a pan-European supervisor the right to ban short selling of financial products. The chancellor’s decision to sue reflects his determination to prevent EU institutions overstepping their mandate, rather [...]
TNK-BP puts $10bn into Arctic plans December 14, 2011 RUSSIAN oil company TNK-BP, half-owned by BP, will invest up to $10bn (£6.4bn) in Arctic oilfield development and construction of a pipeline to link the fields with the export pipeline, the company said yesterday. Russia, the world’s top crude producer, is desperate to tap new hydrocarbon resources at the far-flung reaches of the Arctic and [...]
TNK-BP puts $10bn into Arctic plans December 14, 2011 RUSSIAN oil company TNK-BP, half-owned by BP, will invest up to $10bn (£6.4bn) in Arctic oilfield development and construction of a pipeline to link the fields with the export pipeline, the company said yesterday. Russia, the world’s top crude producer, is desperate to tap new hydrocarbon resources at the far-flung reaches of the Arctic and [...]
BP profit falls as Gulf spill takes toll May 1, 2012 Oil najor BP reported a bigger-than-expected drop in profits despite an increase in crude prices, as production fell after it was forced to sell fields to pay for the Gulf of Mexico oil spill. London-based BP added it would continue its disposal programme, putting some smaller fields in the Gulf of Mexico on the block. [...]
RAPID responses May 3, 2012 Clueless Bank [Re: Mervyn King should have hiked rates to deflate the bubble, yesterday] I agree with you. Mervyn King has joined the long list of revisionist historians. To say he spotted the looming crisis is just not borne out by the facts and the Bank of England’s actions at the time. The loss of [...]
Russian oil group Rosneft launches a share buyback April 20, 2011 RUSSIA’S top crude producer, Rosneft, announced a share buyback programme yesterday as the company continues to negotiate its $16bn (£10bn) share swap deal with BP. Rosneft said it will start with $100m to $200m worth of shares buyback in coming months, sending its share price up 1.7 per cent. The company also said that its [...]
WHO’S SWITCHING JOBS May 1, 2012 Providence Resources The Aim-quoted oil gas and exploration company has appointed Simon Brett as chief financial officer with immediate effect. He has previously held senior finance positions with Damovo Ireland and Coca Cola Bottlers Ireland, and worked at Johnson Wax, Sega Europe and US Can Corporation. New World Oil and Gas The oil and gas [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 20, 2012 FINANCIAL TIMES Banks to get cheap money to lift UK lending The government’s new “funding for lending” programme, designed to boost credit for British business, will cut banks’ costs to as little as 1.2 per cent, according to people briefed on the scheme. The supply of such cheap money to the banks is supposed to [...]
Chevron in move to tap into Russia’s Arctic oil March 1, 2012 US oil major Chevron has held talks with a Russian government official in a bid to exploit some of the country’s Arctic oil reserves. The reserves are currently off limits for non-state corporations, but Russia’s Ministry of Natural Resources said the situation is under review. The statement came a day after Russian Prime Minister Vladimir [...]
Petroplus courted by Russian March 21, 2012 A former Russian energy minister is planning to bid for three refineries owned by bankrupt oil refiner Petroplus, giving hope to workers who fear refinery shut downs and potentially dashing rivals’ expectations that industry overcapacity might be reduced. Fund Energy, an investment vehicle founded by Igor Yusufov, who still sits on the board of directors [...]