Shells scrambles to pay off $1bn Iran oil debt March 26, 2012 Royal Dutch Shell is struggling to pay off $1bn that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said. Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, [...]
UN: Iran nuclear machinery old February 27, 2012 Iran is still relying on old technology to expand its nuclear programme and is “still struggling with the advanced centrifuges”, the UN’s nuclear watchdog has said. Iran is stepping up its uranium enrichment, a move that has sent oil prices higher particularly in recent weeks. But the report claimed that the old machinery could hamper [...]
UN: Iran nuclear machinery old February 27, 2012 Iran is still relying on old technology to expand its nuclear programme and is “still struggling with the advanced centrifuges”, the UN’s nuclear watchdog has said. Iran is stepping up its uranium enrichment, a move that has sent oil prices higher particularly in recent weeks. But the report claimed that the old machinery could hamper [...]
2013 will prove the power of global events to shape our economic lives January 1, 2013 IN MARKETS, a trading session can seem like a lifetime. This puts in context the old adage, attributed to Harold Wilson, that a week is a long time in politics. In truth, both activities have become even more frenetic, as events in distant corners of the globe hit trading screens and TVs with sometimes devastating [...]
What the other papers say this morning September 11, 2012 FINANCIAL TIMES Kremlin shields Gazprom from EU The Kremlin has moved to shield Gazprom from an EU anti-monopoly investigation in a deepening standoff over gas prices, warning that it will not co-operate with actions deemed to be against its interests. A decree signed yesterday day by Vladimir Putin aims to protect “strategic” companies operating abroad, [...]
What the other papers say this morning September 11, 2012 FINANCIAL TIMES Kremlin shields Gazprom from EU The Kremlin has moved to shield Gazprom from an EU anti-monopoly investigation in a deepening standoff over gas prices, warning that it will not co-operate with actions deemed to be against its interests. A decree signed yesterday day by Vladimir Putin aims to protect “strategic” companies operating abroad, [...]
Report: Iran denies Greece oil February 26, 2012 Iran has refused to give Greece a shipment of 500,000 barrels of crude oil in a retaliatory measure against European Union sanctions on the Islamic state’s lifeblood, oil, the semi-official Fars news agency reported yesterday. “Oil tankers that had come to transfer 500,000 barrels of Iranian oil to a refinery in Greece had to go [...]
Iran fright pushes oil up February 15, 2012 OIL prices soared to a six-month high yesterday after reports that Iran was banning oil exports to six European countries in protest at sanctions imposed on the country over its nuclear developments. Greece, Italy, Spain, Portugal, the Netherlands and France would be cut off, Iranian state TV claimed. Any such move would pre-empt the EU’s [...]
New wholesale boss at Standard Chartered August 28, 2012 ALEX Manson is now Standard Chartered’s group head of wholesale banking geographies, after 12 years at Deutsche Bank. He joined on 13 August and will be based in London, although the main operations are based in the Middle East, Africa and Asia. The bank has had a tough month, paying a US regulator $340m (£215m) to settle [...]
StanChart calls on investors to focus on profits September 18, 2012 STANDARD Chartered yesterday tried to move markets on from last month’s sanction-breaking fine, instead calling on investors to focus on the bank’s underlying earnings. The bank’s share price plummeted by almost a quarter in August when a US regulator accused it of breaking the rules in $250bn (£153.8bn) of transactions with Iran – an accusation [...]