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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Glencore has taken out a big bet on North Sea oil

May 13, 2016

Embattled miner and trader Glencore has taken out a big bet on the equally troubled North Sea oil and gas industry. Both have been hit by the commodity price rout, in which oil prices tumbled from over $110 per barrel to below $30 earlier this year. The Swiss firm built up one of the largest positions in [...]
Sadiq Khan’s rent caps could benefit London landlords

May 12, 2016

London’s newly elected mayor, Sadiq Khan, has already committed to making the London housing crisis a priority. He has announced a raft of policies aimed at helping the capital’s two million private renters, and one is attracting particular scrutiny and controversy – the introduction of a London rent cap. Few people doubt rents in London [...]
TalkTalk profits show fallout from last year’s cyber attack

May 12, 2016

TalkTalk shares ticked up 1.3 per cent to 275p per share this afternoon, as the telecoms group said it was starting to recover from last year's cyber attack. The figures TalkTalk's revenue was broadly flat at about £1.8bn in the 12 months to 31 March. The cost of last year's cyber attack was laid bare in its pretax [...]
Brent crude and WTI: US oil prices soar to new 2016 high

May 12, 2016

US oil prices shook off earlier losses to hit their highest level so far this year, buoyed by a shock drop in US oil stocks. West Texas Intermediate crude, the US benchmark, added one per cent to $46.7, having hit $46.9 earlier in the day. Brent crude, the global benchmark, rose 0.8 per cent to $48 per [...]
EDF warns Hinkley Point C costs could rise by nearly £3bn

May 12, 2016

EDF has warned that the cost of building two nuclear reactors at Hinkley could be nearly £3bn more than planned, while the start date could be pushed back to 2026. The project, which was previously expected to cost £18bn, is at the heart of the government's energy policy. Britain is facing a supply crunch as its [...]
IEA: Global oil oversupply to shrink “dramatically” this year

May 12, 2016

The International Energy Agency expects the global oversupply of oil to shrink "dramatically" this year. In its monthly report released today, the IEA said: "We note that OECD stocks grew in first quarter of 2016 at the slowest pace since last quarter orf 2014 and in February they declined for the first time in a year." [...]
Opec’s June meeting is likely to be another dud

May 12, 2016

After a dismal performance in Doha last month, it looks like Opec's meeting in June is going to be another dud. The Organisation of Petroleum Exporting Countries (Opec) and non-Opec producers failed to agree a widely anticipated freeze deal at a meeting in April. The split between long-term regional rivals Iran and Saudi Arabia prompted accusations that [...]
Worldview wins long-running battle to control Petroceltic

May 12, 2016

Activist investor Worldview won its long-running battle to take control of Irish oil explorer Petroceltic. The Dublin-based group's largest shareholder, Worldview, campaigned over the last 19 months for changes to the board and the strategic direction of the group. Read more: Worldview takeover offer for Petroceltic lapses Petroceltic, which received a three pence per share offer from Worldview [...]
ITV says Brexit has sparked “uncertainty” in the UK advertising market

May 12, 2016

ITV is on track for good profit growth, despite the slow UK advertising market as a result of Britain's possible untangling from the European Union. It said that advertising revenue is expected to be "broadly flat" in the first half of 2016, having slumped 13 per cent last month. "ITV is now a much stronger and more [...]
Vedanta tarnished by commodities rout but predicts “new era” in India

May 12, 2016

Shares in London-listed Vedanta Resources tumbled 2.7 per cent to 369.7p per share this afternoon, as the miner continued to suffer amid the commodities rout. The figures The India-based firm's revenue slumped 16.6 per cent to $10.7bn (£7.4bn) in the 12 months to 31 March, down from $12.9bn a year earlier. This came on a pre-tax [...]

Judge awards McLaren F1 team over $12m in Alex Palou trial

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

By: Jessica Morris

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