High commodity prices could keep inflation elevated, World Bank warns April 25, 2024 The World Bank has predicted that commodity prices will fall just three per cent in 2024 and four per cent in 2025.
China’s imports of Russian oil near record high in March April 20, 2024 Russia remained China’s top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments. China’s imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5 per cent on the year to 10.81 million metric tons, or 2.55 million barrels per day (bpd) last month, according to data from [...]
FTSE 100 today: London markets poised for red start as Middle East tensions escalate; investors await more details on the crisis April 19, 2024 Middle East tensions rattled markets in the Asian session following ABC News reports of Israeli missile strikes in Iran. Oil and gold prices surged while bitcoin dropped below $60,000. However, an Iranian official denies the missile attack reports, adding to the uncertainty. Market focus now shifts to UK retail sales data and speeches by Bank of England officials Ramsden and Breeden.
Will oil prices hit $100 a barrel in 2024? April 9, 2024 Against many market bets, oil prices have risen sharply throughout the first quarter of 2024. But can prices hit $100 this year?
Exxonmobil bets £791m on UK oil sector as other operators pull back April 8, 2024 Exxon's bet on diesel appears contrary to a wider trend amongst its petrogiant peers.
Gulf Marine Services upgrades outlook again and raises prospect of a dividend as oil sector booms April 4, 2024 Oil field service provider Gulf Marine Services (GMS) has posted a strong set of final results in which net profit, revenue and margins were all up and its debt burden down.
Revenue slumps at Enquest as producer attacks ‘challenging’ North Sea operating environment March 28, 2024 Oil producer EnQuest saw revenue fall, but announced a share buyback, in a year trading that was hit by lower oil and gas prices and the continuation of the windfall tax on North Sea oil.
Wood Group pushes cost-cutting drive and upgrades 2024 outlook March 26, 2024 The company currently employs around 6,500 in the UK, most of whom are in Aberdeen.
Genel Energy boss confident in ‘leaner’ company as Iraq pipeline closure sinks revenue March 26, 2024 Chief executive Paul Weir said his company's cash could double once the pipeline is turned back on
Iraq turned off Gulf Keystone oil profits last year March 21, 2024 The firm said that it is selling oil locally and is making "more than enough" to cover expenses