Russia back on the map with investors after two year hiatus, Credit Suisse banker says April 11, 2016 Investors are starting to look at Russia again after cutting off exposure amid geopolitical tensions two years ago, the head of Credit Suisse's $60m (£42m) Russian Equity Fund said. There are no big inflows yet but a rebound in Russian stock markets in the past few months as the oil price and the rouble have [...]
Oil price slide casts shadow over Shell’s £47bn takeover of BG Group December 15, 2015 Shell's mega merger with BG Group was given the green light by Chinese regulators yesterday, but the deal has been rocked after tumbling oil prices led to a major shareholder questioning its viability. The price of international benchmark Brent crude oil yesterday fell to fresh lows of $36.33 per barrel before a rally in early evening [...]
Russia’s Gazprom moves to quash Saudi-style gas price war speculation May 31, 2016 Russian export monopoly Gazprom has moved to quash speculation that it could start a price war in the European gas market. Analysts, industry experts and commentators have argued Russia, which supplies about a third of Europe's gas via pipelines, could cut its prices in response to higher cost US liquefied natural gas shipments. Such a move would [...]
Brent crude and WTI: Oil prices jump back ahead of crucial meeting of producers April 11, 2016 Oil prices shook off early losses today to gain around two per cent, ahead of Sunday's crunch meeting between the world's major producers. Prices had earlier dipped on doubts that a production freeze from some of the countries taking part in the talks in Doha will be enough to balance markets. Brent crude, the global benchmark, fell [...]
Discgraced former banker Elena Kotova has been ordered to hand over her Mayfair flat April 28, 2016 A former high profile Russian banker has been ordered by the court to hand over her swish flat in Mayfair to the National Crime Agency (NCA). Elena Kotova, who was an executive director of the European Bank of Reconstruction and development (EBRD), was charged with bribery by Russian authorities in 2013, alleging that she solicited more than [...]
Brent crude and WTI: Oil climbs even higher amid rising optimism over freeze meeting April 12, 2016 Oil prices burst into life this afternoon, extending earlier gains after a report suggested Russia and Saudi Arabia have agreed to freeze output ahead of a widely anticipated meeting in Doha on Sunday. Russia's Interfax news agency quoted a diplomatic source in Doha saying the two countries had reached a consensus about an output freeze [...]
Oil producers hope for a deal on production limits by early March February 21, 2016 A deal to cap oil production at January levels should be completed by 1 March, according to the Russian energy minister Alexander Novak. The deal, brokered by de facto Opec leader Saudi Arabia, has the backing of Russia, Qatar and Venezuela. Opec rebel Iran has welcomed the deal but has said it will continue to [...]
Russia reveals more details about potential freeze deal April 6, 2016 Russia has revealed more details about a potential freeze deal between Opec and non-Opec producers that could come out of a meeting in Doha. Sources told Reuters that Russia believes an oil price at $45-$50 per barrel is acceptable to allow the global oil market to balance. It also expects a production freeze deal to accelerate this process by [...]
Investment firm LetterOne headed up by Russian billionaire Mikhail Fridman launches health business in US June 6, 2016 LetterOne, the investment vehicle owned by Russian tycoon Mikhail Fridman, has launched L1 Health in the US and appointed Diageo chairman Dr Franz Humer to the firm's advisory board. L1 Health will target up to $3bn (£2.1bn) of investments in the global healthcare sector over the next three years "with the goal of making sizeable equity investments in businesses [...]
Oil prices fall as Doha production freeze talks collapse: Here’s how the City analysts have reacted April 18, 2016 Oil prices plummeted overnight after crucial talks among members of Opec failed to reach a deal on freezing oil production. Prices of both Brent and WTI crude were down more than five per cent overnight, which in turn pushed down equities, with the FTSE 100 falling 0.7 per cent in the first hour of trading. [...]