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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Oil baron Algy Cluff snaps up three North Sea oil licenses for £1 each

March 23, 2016

Oil baron Algy Cluff has taken stakes in three North Sea oil projects for just £1 each. Cluff Natural Resources has acquired up to a 25 per cent interest in three North Sea oil projects operated by Parkmead Group. It estimates that they could contain 400m barrels of recoverable oil. Cluff recently told City A.M. that the oil price had [...]
Nigeria expects oil output freeze deal at Doha meeting in April even without Iran

March 23, 2016

Opec member Nigeria has said it expects oil producers to reach an output freeze deal at a meeting in Doha next month. "I expect that we will reach a conclusion on stabilisation, stabilise current production as of January," Emmanuel Ibe Kachikwu told Reuters in an interview in Abuja. Qatar has invited Opec and major non-Opec producers [...]
Hinkley Point C nuclear power plant: EDF chief executive Vincent de Rivaz assures MPs that the project will go ahead

March 23, 2016

EDF assured MPs that the Hinkley Point C nuclear power project will go ahead, but failed to give an exact date for the final investment decision. Appearing before the energy and climate change select committee, EDF Energy's chief executive Vincent de Rivaz said: "Clearly and categorically, Hinkley Point C will go ahead." He added that the [...]
Brent crude and WTI: US oil falls below $40 per barrel after EIA data

March 23, 2016

US oil fell below $40 per barrel today, after fresh data suggested the global oversupply still has some ground left to cover before markets rebalance. Data released today by the Energy Information Administration (EIA) showed US crude oil inventories jumped by 9.4m barrels last week to a record total of 532.5m. This was much more than analysts expected, with [...]
EU referendum: Two out of five small and medium-sized businesses back Brexit, says Zurich

March 21, 2016

Two out of five British small and medium-sized (SME) businesses would vote for a Brexit in the upcoming EU referendum, new research has shown. This came despite only one fifth (19 per cent) saying a vote to leave the EU would positively affect the UK economy over the next five years, according Zurich's latest SME risk index. They [...]
The Investment Association: FTSE 100 firms told to scrap quarterly reporting

March 20, 2016

The investment industry's leading trade body is gearing up to tell Britain's blue-chip companies to scrap quarterly reporting. The Investment Association (IA) will make the move in an attempt to shift companies' focus towards more longer-term goals, a spokesperson confirmed. It's one of a string of measures contained in a landmark report which is due to be released next [...]
City financier Edi Truell to step down from board of Tungsten

March 20, 2016

Venture capitalist Edi Truell is due to step down from the board of e-invoicing group Tungsten Corporation, after offering to buy its assets. Truell will relinquish his role as vice-chairman, having informed the Aim-listed group's board that he wants to take the company private, City A.M. understands. It's expected to be announced in a statement to the London Stock Exchange tomorrow, as was first reported [...]
Non-Opec member Oman yet to be invited to Doha meeting

March 20, 2016

Oman has said it’s yet to receive an invite to a historic meeting of oil producers, where they’re expected to discuss freezing output to support prices. This is despite Oman being the largest non-opec oil producer in the Middle East, pumping out around 1m barrels per day. "We have been exchanging some views with other oil [...]
Former BP boss Tony Hayward is eyeing a new oil venture

March 20, 2016

The former boss of oil giant BP Tony Hayward is reportedly planning to set up an investment fund which will snap up distressed oil and gas assets. He has held talks in recent weeks with potential backers including private equity firms and sovereign wealth funds in the Middle East, the Sunday Times reports. However, his plan remains at an early stage, [...]
City bosses urged to tackle stress among employees

March 20, 2016

A stress specialist has urged bosses to tackle habitual poor time keeping among employees, saying it’s an underreported issue that’s draining UK productivity. Paula Ruane, who runs Ruane BioEnergetics which aims to help people manage stress at work, said this is a key driver of employees starting late, leaving early and generally being less productive. The [...]

Sainsbury’s threatens to crack down on shoplifters caught swapping eggs

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By: Jessica Morris

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