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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Opec boss warns world needs $65 oil to avoid price shocks

May 25, 2016

The head of Opec has warned that the world "badly" needs $65 oil to avoid any future price shocks. Low crude prices have left firms with less cash to fund exploration, while producers pumping to the hilt has shrunk the global spare capacity margin. The has left markets increasingly vulnerable to production outages and soaring prices. [...]
PwC warns energy utility firms over rising levels of bad debt

May 24, 2016

Energy utilities companies have been slapped with a stark warning over the impact of rising levels of bad debt. Bad debt across the sector rose by 44 per cent to £640m over the last five years, according to an analysis by consulting giant PwC. Water firms also experienced a similar trend as bad debt swelled 44 per cent [...]
Brent crude and WTI: Oil falls for fifth day in a row to hover around $48

May 24, 2016

Oil prices fell for the fifth day in a row to hover around the $48 per barrel mark today. Brent crude, the global benchmark, fell 0.4 per cent to $48.2 per barrel this afternoon. West Texas Intermediate crude, the US benchmark, also slumped 0.3 per cent to $48. Read more: Canada's oil heartland has some evacuation orders [...]
EDF skirts around Hinkley Point being completed by 2025

May 24, 2016

EDF skirted around committing to the Hinkley Point C nuclear power plant in Somerset being finished by 2025. When asked whether the nuclear power plant will be completed on time, De Rivaz said this is "the date we would like to be able to confirm” but cautioned it will only be set after the final [...]
This brain train tool could help you drink less alcohol

May 24, 2016

Anyone who failed miserably at dry January, or any attempt to drink less thereafter, might want to give this free online tool a try. It uses a brain-training technique, known as a "cognitive bias modification", to reduce an individual's unconscious preference for alcoholic drinks over non-alcoholic ones. Users are tested for a bias towards alcohol based on [...]
Investment banks endure worst first quarter since financial crisis

May 24, 2016

The world's 12 largest investment banks endured their slowest start since the financial crisis, in what's typically their most lucrative period. Their revenue fell 25 per cent in the first quarter from a year ago as a wave of volatility rippled through financial markets, according to research by industry analytics firm Coalition. European bank shares hit multi-year lows [...]
Rio Tinto exec Stephen McIntosh swaps exploration for tech

May 24, 2016

FTSE 100-listed miner Rio Tinto's head of exploration is swapping this troubled sector for tech and innovation as the commodity rout rumbles on. Stephen McIntosh has been appointed as acting group chief exec for technology and innovation, succeeding Greg Lilleyman who will leave the firm after a 25-year career there. McIntosh has been with Rio Tinto for almost 30 [...]
BlackRock bets on lithium with stake in Aim-listed Bacanora Minerals

May 23, 2016

The world's largest asset manager BlackRock has taken a bet on lithium, the so-called "white petroleum", with a stake in Aim-listed miner Bacanora Minerals. Lithium is a small but irreplaceable component of rechargeable batteries for small-scale devices such as mobile phones. Prices have already risen this year, and analysts predict tremendous growth in the future, mainly due to [...]
EDF’s UK boss Vincent de Rivaz readies for second grilling by MPs over Hinkley delays

May 23, 2016

EDF's UK boss, Vincent de Rivaz, will be hauled before MPs for the second time tomorrow, with the final investment decision for its controversial Hinkley Point C nuclear power plant expected to take centre stage. The French utility giant recently pushed back the decision once again to at least September. De Rivaz had assured it would [...]
Aim-listed Lansdowne Oil & Gas sounds alarm over funding

May 23, 2016

Aim-listed Lansdowne Oil & Gas has warned shareholders it must raise additional funds to "continue its ongoing business". The oil and gas explorer will seek shareholder approval at a general meeting next month for a capital reorganisation and an issue of up to 350m shares, potentially representing more than 200 per cent of its current share [...]

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By: Jessica Morris

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