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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Serious Fraud Office asks Monaco for help with investigation into oil industry corruption

April 1, 2016

The Serious Fraud Office (SFO) has asked Monaco for help investigating alleged corruption in the oil industry. It put in an urgent request for international judicial assistance in criminal matters to its government, resulting in it raiding the offices of oil services firm Unaoil and the homes of its directors. Two media reports said that [...]
Saudi Arabia says it won’t freeze oil production without Iran as it prepares to sell Saudi Aramco

April 1, 2016

Saudi Arabia has said it won't freeze oil production without participation from Opec rebel Iran, while it plans to sell a stake of "less than five per cent" in Saudi Aramco. During a five-hour long interview with Bloomberg News, Mohammed Bin Salman, the deputy crown prince, said: "If all countries agree to freeze production, we’re ready." "If there [...]
Markit PMI: British manufacturing edges up but quarterly growth remains weak

April 1, 2016

While British manufacturing ticked up last month from its weakest level in nearly three years, quarterly growth remained disappointing. It comes as the business secretary, Sajid Javid, visits Port Talbot to meet workers and management affected by Tata's decision to sell its UK assets. Read more: The travel industry must love Sajid Javid The Markit/CIPS manufacturing Purchasing Managers' [...]
Stamp duty charges: The UK housing market needs more homes not more taxes

April 1, 2016

Anyone waking up today who is planning or close to purchasing a second home may well feel as if an April fool's trick has been played on them. Whether helping a son or daughter get onto the housing ladder, investing in a buy-to-let property or buying a holiday residence, from today an additional three per [...]
These are the “fragile five” Opec members that could collapse if oil prices don’t stabilise

April 1, 2016

There are five members of the Organization of the Petroleum Exporting Countries (Opec) which risk collapsing if oil prices fails to stabilise. Brent crude has tumbled from over $110 in the middle of 2014 to around $40 today, largely due to a chronic supply glut. This has heaped pressure onto the balance sheets of some of the [...]
Ascent share price plummets: Over-enthusiastic investors stall Cadogan bid

April 1, 2016

Ascent Resources recent share price rise has caused Cadogan Petroleum to back off a proposed take over. Investors piled into Ascent after a potential tie-up was announced on 23 March, sending its shares an eye watering 658 per cent higher. Shares in Ascent tumbled 56.9 per cent to 2.58p per share on the news, while Cadogan dipped 1.3 per [...]
Randgold resources share price rises as it holds onto progressive dividend

March 31, 2016

Shares in Randgold Resources edged up today as the West African gold producer held onto its progressive dividend despite lower gold prices. The company's shares rose as much as two per cent to 6,405p per share this morning, before settling down slightly to end the day at 6,370p. Read more: Experts say gold could hit [...]
Steel crisis: Four things that could happen to Tata steelworks next

March 31, 2016

The government has been forced to hold a crisis meeting, while dissatisfaction among unions, business groups and the opposition continues to rise. With thousands of British jobs at stake, what could happen to Tata's embattled UK business? Full or partial sale In an ideal world, Tata would be able to find a buyer for its stricken [...]
Brent crude and WTI: Oil shrugs off earlier losses to head towards $40

March 31, 2016

Oil prices reversed earlier losses to veer higher today, inching towards $40 per barrel in late afternoon trading. Brent crude, the global benchmark, swelled 0.8 per cent to $39.56 per barrel. However, West Texas Intermediate crude, the US benchmark, edged down 0.2 per cent to $38.26. Read more: What $20 per barrel oil would mean for [...]
Cash-strapped EDF reportedly facing £2bn rise in Hinkley Point C costs

March 31, 2016

Cash-strapped EDF could have to find an additional £2bn to build the Hinkley Point C nuclear power plant. There's rising pressure at the French utility giant over whether its already strained balance sheet will be able to shoulder the hugely expensive project. An independent report regarding the controversial project seen by the Times claims the updated cost could be as high [...]

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By: Jessica Morris

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