BP sanctions next stage of $6bn Caspian Sea oil field development April 19, 2019 A joint venture involving BP has sanctioned the next stage of a $6bn oil field development in the Caspian Sea. The development includes a new offshore platform and facilitates designed to process up to 100,000 barrels of oil a day and is expected to achieve first production in 2023, producing up to 300m barrels over [...]
Chrysaor takes another big chunk in the North Sea with $2.7bn deal for Conoco Phillips oilfields April 18, 2019 Oil giant Conoco Phillips has exited the North Sea in a $2.7bn (£2.1bn) deal with private equity-backed Chrysaor Holdings. Chrysaor will get access to more than 280 million barrels of oil equivalent when it takes over two hubs in the North Sea, and an interest in the Clair oilfield area in the West of Shetlands region. [...]
Pinterest files for $12.7bn IPO: What it needs to do next April 18, 2019 Image curation site Pinterest will list in the US when the New York Stock Exchange opens later today at $19 per share. The unicorn’s share price, which had more than 250m active users and 2bn searches last year, is above the target range and a valuation that the website received in 2017. Read more: Get [...]
Euro falls as data suggests Eurozone economy will grow just one per cent in 2019 April 18, 2019 The euro suffered today as economic data dealt a fresh blow to hopes for the Eurozone economy. Read more: Eurozone construction sector bounces back in February after weak January Germany and France’s manufacturing industries are contracting, a closely-followed index revealed, with both staying lower than the 50 measure representing growth. Overall, both the Eurozone’s leading [...]
Canadian gas explorer Valeura sees funding in London above Toronto April 17, 2019 The chief executive of gas explorer Valeura Energy today said his company wants to come to London as the capital’s investors are the best for raising funds for its Turkey operations. The CA$256m-market cap (£147m) firm announced it is aiming to list in London next week, after trialling the idea in the past. It raised [...]
Saudi Aramco in talks with Reliance Industries to make third major purchase in weeks April 17, 2019 Saudi Aramco could pay up to $15bn for a stake in an Indian refining and petrochemicals business, according to reports. The Saudi oil giant, which on Monday acquired a large slice of a South Korean refiner, is in talks to buy 25 per cent of Reliance Industry, the Time of India reported. Read more: Saudi [...]
Zoom and Pinterest test the IPO waters April 17, 2019 | City Talk IPO season continues this week, but should you dip your toes in the water with the latest offerings on Wall Street? Zoom and Pinterest will price later on Wednesday and begin trading on Thursday. After Lyft’s travails of late, it will be an important test of investor confidence again, especially as it comes ahead of [...]
Oil authority pays £3m a year for massive North Sea database April 16, 2019 The UK authority which oversees North Sea oil fields will pay around £3m a year in upkeep for a new database to help oil companies. The Oil and Gas Authority launched the UK Oil and Gas National Data Repository late last month in a bid to encourage small explorers to extract as much from the [...]
Sterling falls as doubts emerge over cross-party Brexit talks April 16, 2019 Sterling fell after reports emerged that Labour leader Jeremy Corbyn had said talks with the government were stalling, although the party has slapped down the claim. Read more: Tusk says he still dreams of UK U-turn on Brexit A falling pound sent the FTSE 100 to a six-month high, as investors responded to the news [...]
Rio Tinto downgrades iron ore forecasts after storms batter Western Australia April 16, 2019 London-listed miner Rio Tinto has downgraded its iron ore guidance after a tropical cyclone battered Australian ports. Shipments of iron ore from the Pilbara region of Western Australia fell 14 per cent year-on-year in the first quarter of 2019 to 69.1m tonnes. Read more: Rio Tinto invests $302m in US copper project Meanwhile, they were [...]