BP profits tumble 50 per cent on lower oil prices and Deepwater Horizon charge July 28, 2015 BP shares are trading 1.19 per cent up in mid morning trading after it reported a 50 per cent drop in underlying profits during the second quarter of 2015, as lower oil prices and the Gulf of Mexico disaster continues to weigh on the company. The figure hit $1.31bn, undershooting analysts’ expectations of $1.6bn. Read more: One [...]
Oil prices continue to slide as US benchmark WTI crude falls below $50 a barrel for first time since April July 20, 2015 US benchmark West Texas Intermediate (WTI) dipped under $50 a barrel today, as speculation that increasing Middle Eastern shipments will worsen global oversupplies. WTI fell as low as $49.92 before closing slightly up, at $50.13 a barrel, the lowest prices WTI has been trading at since the beginning of April, showing that sales continue to [...]
Tullow Oil share price falls as technical difficulties suspend Ghana field exports July 20, 2015 Share in UK-listed oil producer Tullow Oil fell 1.5 per cent to 277p in morning trading, after it admitted technical difficulties at one of its key fields have meant exports have been suspended and production capped since the beginning of this month. The company said exports from its Jubilee Field to the state-run Ghana Gas [...]
Diesel prices to fall below petrol for the first time in 14 years as Morrisons cuts 2p off a litre July 20, 2015 The battle has just heated up on the front line of the supermarkets' price war, after Morrisons announced plans to cut 2p a litre off the price of diesel, meaning the cost of diesel will fall below petrol for the first time in 14 years. Read more: Has Morrisons put its darkest days behind it? Morrisons' [...]
Iran nuclear deal: From oil prices to GDP, how have sanctions affected the country? July 15, 2015 After nine years of negotiations between Iran and leaders from the snappily-titled "P5 +1" nations – the US, the UK, France, Russia, China and Germany – agreed yesterday to lift sanctions on Iran. But what does that mean for the country's economy? Sanctions were first applied to Iran in 1979, after the storming of the [...]
Iran deal shakes up oil market as sector prepares for end of sanctions and new supply July 14, 2015 Iran has finally reached an agreement with Western negotiators over its nuclear programme, following years of discussions. The deal will see Iran limit its capacity to build a nuclear bomb, in exchange for the lifting of economic sanctions on the country, including restrictions on its oil and gas industry. The price of oil dipped again [...]
FirstGroup off track after UK franchise losses and drop in oil prices July 14, 2015 Rail and bus company FirstGroup has warned its revenue is likely to disappoint in the year ahead after the loss of key UK contracts while low oil prices hit business in North America. Its UK rail division recorded like-for-like passenger revenue growth of 6.3 per cent in the three months ending 30 June. But it said [...]
Oil falls as Iran agrees historic nuclear deal with Western powers – reports July 14, 2015 Brent crude oil fell 2.1 per cent to $56.65 a barrel in early trading as diplomats at talks in Vienna said they had agreed a historic deal with Iran on limiting its nuclear programme. Meanwhile, West Texas Intermediate, the US benchmark, dropped 2.3 per cent to $51. Under the deal, world powers including the US, [...]
Dragon Oil share price rises as it shrugs off global oil price rout maintaining investment spend as production rises July 14, 2015 Dragon Oil has said it maintained capital expenditure and increased oil production in the six months to June, in the face of a global oil price rout that's forced a number of similar companies to cut investment spending. Read more: Dragon Oil shareholders breathing fire over £3.7bn ENOC takeover bid But shares in the Turkmenistan-focused oil [...]
Oil prices drop as nuclear deal with Iran looms July 13, 2015 Oil prices were stuck below $60 yesterday and with an Iranian nuclear deal in the offing could fall further again in the near future. Talks between Iran and Western powers were due to end last night, and officials said yesterday that a deal aimed at ending sanctions on the Middle Eastern country in return for [...]