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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African gold miner Amara Mining share price jumps on takeover bid from Perseus Mining

February 29, 2016

Shares in Aim-listed Amara Mining jumped today, after the African gold miner received a $85m takeover bid from Perseus Mining. There's long been speculation about consolidation in the African gold space as smaller, cash-strapped firms look to benefit from their bigger competitors' stronger balance sheets. The miner's shares jumped as much as 26.8 per cent to 13p per share this [...]
HSBC: Gulf Cooperation Council states face $94bn looming debt crunch

February 29, 2016

One of the world's biggest banks has warned a $94bn debt crunch is looming over Arab countries. HSBC said that sovereign, financial and corporate borrowers in the Gulf Cooperation Council (GCC) region must repay or refinance $94bn of bonds and loans in 2016 and 2017, Arabian Business reported. The GCC is an economic and political alliance comprising Saudi Arabia, Kuwait, the United Arab [...]
HSBC: Arabian states face $94bn debt crunch

February 29, 2016

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US shale gas industry sets sights on oil prices recovering to $40

February 29, 2016

Two of the largest US shale gas producers have said oil recovering to $40 per barrel will reverse the ailing industry’s fortunes. Continental Resources could increase capital spending if US crude reaches low-to mid-$40s, allowing it to boost production by 10 per cent next year, chief financial officer John Hart said last week. Whiting Petroleum also [...]
Quindell buyer Slater and Gordon’s share price plummets on $958m loss largely due to a huge UK writedown

February 29, 2016

The company which bought embattled Quindell almost a year ago has reported a nearly AUD$1bn loss today, driven by a huge writedown of its UK assets. Slater & Gordon shares nearly halved after it posted a $958m (£492m) loss for the six months ended December 31st, primarily due to a $814.2m writedown on its acquisition of the professional services arm [...]
China creates 100bn yuan fund to cut jobs in steel, coal sectors

February 29, 2016

China announced today that it's created a 100bn yuan fund to lay off nearly two million workers in its embattled coal and steel sectors. Yin Weimin, the minister for human resources and social security, told a news conference that 1.3m workers in the coal sector could lose their jobs, in addition to 500,000 from the steel [...]
Iran holds first election since sanctions over its nuclear programme were lifted

February 26, 2016

Millions of Iranians went to the polls for the first time since it was freed from sanctions following a deal with world powers over its nuclear programme today. The two crucial elections could alter the balance of power between moderates and hardliners in two of the Iran's key institutions. Both are currently dominated by the latter. Around 5,000 candidates [...]
FTSE 100 demotions and promotions: Sports Direct and Aberdeen Asset Management could be demoted in quarterly review

February 26, 2016

Sports Direct could slip out of Britain's blue chip index at its quarterly review which is due to take place on Wednesday. Despite a boost to its brand from popular musicians such as UK grime artist Skepta, the company was the biggest casualty of disappointing trading which afflicted a number of its peers over the crucial [...]
Brent crude and WTI: Oil prices rise as traders close short positions

February 26, 2016

Oil prices reversed earlier losses to inch into positive territory this morning, however traders warned that the gains were largely due to "technical" movements. Brent crude, the global benchmark, increased 1.3 per cent to $35.74 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark swelled 1.33 per cent to $33.51. But traders said the [...]
Italy’s Eni whose chief executive Claudio Descalzi warned oil prices could hit $200 posts £6.6bn loss in the fourth quarter of 2015

February 26, 2016

The company whose chief executive famously warned oil prices could spike at $200 per barrel has been forced to slash spending, after writedowns driven by low oil prices pushed it to a loss in the fourth quarter. Italian oil major Eni announced plans to cut capital expenditure by 20 per cent this year, as it revealed an [...]

Two top flight clubs in same league to be owned by same firm after major sport decision

Premier League’s smallest stadium gets approval to begin £90m rebuild

This hotel on the Elizabeth Line is 30 minutes from London but feels totally remote

By: Jessica Morris

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