By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Fund manager Neil Woodford’s Patient Capital Trust mulls raising more money

January 13, 2016

Star fund manager Neil Woodford's solo venture, Woodford Patient Capital Trust, has announced it's considering raising more money. "With the current market conditions in mind, the board … is currently looking at ways it can raise additional capital in the year ahead and will consult with, and gauge interest from, investors," the company said in a statement to the [...]
Oil prices par gains after EIA data points to growing glut

January 13, 2016

The brief relief for oil prices was short-lived today, after weekly data showed that gasoline and distillate inventories rose more than expected. The news sent Brent crude, the global benchmark, down 0.1 per cent to $30.83 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, shed 0.02 per cent to $30.84 per barrel. Gasoline stocks rose by [...]
Premier Oil snaps up E.On’s North Sea assets

January 13, 2016

Premier Oil today announced it's agreed to acquire E.On's North Sea assets for $120m (£83m) plus working capital adjustments. Premier said the deal would add "significant" production and cashflow in 2016 and 2017, even at current oil and gas prices. It will add around 15,000 barrels of oil equivalent per day to the company's production and give it access [...]
Bonus clawback rules: The Bank of England’s Andrew Bailey wants tougher bonus buy-outs

January 13, 2016

The Bank of England (BoE) wants banks to be able to claw back their employees' bonuses even after they've moved to a new company. The Bank's Prudential Regulation Authority (PRA) has put forward new rules to tackle the issue surrounding bonus buy-outs, which can help individuals evade a body of regulation designed to stop banker misconduct in the wake [...]
Premier Oil shares suspended pending an announcement

January 13, 2016

Shares in Premier Oil were halted for trade today, after the oil and gas explorer asked for a suspension pending the announcement of a potential acquisition. Premier oil could be about to join a smattering of consolidation activity that's taken place in the wake of Royal Dutch Shell's mega-deal with smaller rival BG, spurred on by low oil prices [...]
FTSE 350: UK dividend payments to fall in 2016 as basic resources companies struggle

January 13, 2016

UK dividend payments are set to fall this year due to slower global economic growth, plunging commodity prices and increasingly debt-laden companies. FTSE 350 company dividend payouts will fall three per cent to £81.1bn this year, according to a report by financial services information provider Markit. At the same time, ordinary payments by FTSE 350 companies are [...]
Oil prices could spike at $500 on a war between Saudi Arabia and Iran

January 13, 2016

A leading academic has warned a full scale war between Middle Eastern rivals Iran and Saudi Arabia could send oil prices as high as $500 per barrel. The two countries' long-running regional rivalry is borne out in a series of proxy wars across the Middle East, such as the one which is being waged in Yemen. But relations soured recently when [...]
Bank of England’s monetary policy committee: Why rate-setters could surprise on January 2016 risks

January 13, 2016

A lot can happen in a month. Since the last monetary policy committee (MPC) meeting, oil prices have fallen to new lows, UK gross domestic product has been revised down and concerns about China have entered another acute phase. Given the dovish MPC has a reputation for caution, how will it deal with the latest curve balls? [...]
Oil price: Nigeria and UAE clash over emergency Opec meeting in February/March as Brent and WTI crude continue to fall

January 12, 2016

Two members of the Organization of Petroleum Exporting Countries (Opec) have clashed over whether the oil cartel will hold an emergency meeting before its next scheduled session in June, as oil prices continue to plump new lows. Opec members have been hurt by the collapse in global oil prices, with Brent falling below $32 a barrel [...]
BP share price rises amid plans to axe 4,000 exploration and production jobs worldwide by the end of 2016

January 12, 2016

BP will axe around 4,000 jobs this year, as the oil giant adapts to a tougher business environment in which oil prices are expected to remain lower for longer. A BP spokesperson told City A.M. that the company had warned employees in its upstream division, involving exploration and production, that about 4,000 roles will go by the end of [...]

Why authenticity is key to US sport succeeding in Europe

Drinking in stands hailed as success as more clubs join WSL pilot scheme

This Soho pub is putting on a ‘problematic’ show about a drunkard

By: Jessica Morris

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