Long road to recovery for oil price April 15, 2015 GLOBAL oil markets may take longer to tighten than expected due to a surge in supply from the Organisation of the Petroleum Exporting Countries (Opec) and a potential rise in Iranian exports, even though it looks like demand is beginning to strengthen, the International Energy Agency said in its monthly market update yesterday.
Falklands Oil to delay drilling as oil prices slide April 13, 2015 OIL PRICE volatility has taken its toll on Falkland Oil and Gas, which was forced to defer exploration and drilling in offshore fields around the disputed islands, it emerged yesterday. The fledgling firm said the decision to delay drilling a second well could translate into lower costs in future, adding the company would be “in a [...]
UK Oil and Gas Investments share price falls as it seals Markswell Wood license deal for more Weald Basin oil fields after Horse Hill discovery near Gatwick April 13, 2015 The company behind the discovery of huge amounts of oil at Horse Hill near Gatwick has sealed a deal to increase its interests in the area in the south of England dubbed "Britain's Dallas". Shares in UK Oil and Gas Investments (UKOG) fell as much as 6.4 per cent to 2.07p in mid-morning trading, after it [...]
Oil discovery at Horse Hill near Gatwick could be bigger than North Sea oil fields with 100bn barrels April 9, 2015 A spot in the south of England near Gatwick airport could hold a massive amount of oil even larger than that found at the North Sea oil fields. Investigations at the site in Horse Hill by UK Oil and Gas Investments (UKOG), have discovered the site could hold up to 100bn barrels of the black [...]
Royal Dutch Shell BG Group mega-merger: Are there more oil deals on the way? April 8, 2015 Oil giant Royal Dutch Shell announced a takeover of gas producer BG Group today, in a deal worth £47bn. So is this the start of an oil mega-merger party? About 15 years ago low oil prices caused something similar. (Source: A.T. Kearney) Between 1998 and 1999, oil prices halved to just $10 per barrel, sparking a wave [...]
Deflation sets in as shop prices fall even faster April 7, 2015 Shop prices fell at a record pace in March, with clothing and electrical prices diving, and food prices falling faster than ever before. Overall prices fell by 2.1 per cent on the year, according to the British Retail Consortium (BRC), with food prices falling by 0.9 per cent. Those are both the fastest declines in [...]
One chart showing why oil prices crashed last year April 7, 2015 Higher production helped the United States extend its reign as the world's top oil and gas producer last year, but the growth spurt also contributed to the black stuff's steep decline. Oil slumped from about $115 per barrel towards the middle of last year, to as low as $45 per barrel in January, and is [...]
Oil prices rally despite fears over Iran nuclear deal consequences April 7, 2015 Brent crude oil rallied to climb by over $3 yesterday, after being hit by the effects of the preliminary nuclear deal reached by Iran and six world powers last week. The global benchmark price was also helped by the fact that major producer Saudi Arabia upped its prices for sales to Asia, signalling an improvement [...]
Political risk is rising globally – with worrying consequences for markets April 1, 2015 Uncertainty about global and domestic politics is greater today than it has been for some years. It is therefore inevitable that political risk will play a more prominent role in capital market investment decisions than it has done for many years. Political risk is not a new phenomenon in markets. As early as 1294, the [...]
US oil production posts largest increase in over a century March 30, 2015 Last year US oil production posted its largest volume increase since record keeping began over a century ago. The Energy Information Administration (EIA) said it increased to1.2m barrels per day last year, pumping out a total 8.7m barrels per day. This was the largest volume increase since record-keeping began over a century ago. "Most of the [...]