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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UK Oil & Gas: Ukog share price falls as pre-tax losses widen

February 26, 2016

The figures: UK Oil & Gas' pre-tax losses widened by around 87 per cent to £1.7m, from £906m a year earlier. This was largely due to costs associated with the group's investments and assets, particularly within its core Weald Basin Portland and Kimmeridge tight oil licences and the new Isle of Wight portfolio. The Aim-listed company invested £3.7m [...]
Brent crude and WTI: Oil prices fall further as oversupply concerns grow

February 25, 2016

Oil prices fell further today after new data stoked concern that the supply glut is continuing to build against a backdrop of slowing global growth. Brent crude, the global benchmark, added to earlier losses shedding 1.69 per cent to $33.83 per barrel. Meanwhile, West Texas Intermediate crude, the US benchmark, fell 2.27 per cent to $31.42. U.S. government data showed [...]
Two big US shale gas firms Continental Resources and Whiting Petroleum halt key projects

February 25, 2016

Two of the largest US shale gas producers are halting key projects, as the once buoyant industry continues to cool. Continental Resources and Whiting Petroleum are halting fracking operations in Bakken, an area which has been one of the biggest drivers of the US shale gas boom. Leaving wells drilled but uncompleted enables shale gas [...]
S&P: Russian economy is heading for a second year of recession in 2016

February 25, 2016

Credit ratings agency Standard & Poor's has warned that the Russian economy is on course for a second year of recession, as commodity prices continue to career lower. S&P predicts that the Russian economy will shrink by 1.3 per cent in 2016, as opposed to the 0.3 per cent growth it had previously forecast. It also [...]
Seadrill shares surge as revenue approaches £1bn mark

February 25, 2016

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Premier Oil share price falls as losses widen on oil price rout

February 25, 2016

The figures The UK-based Premier Oil's pre-tax losses swelled by 128.9 per cent to $829.6m in the year ended December 31st, up from $362.5m in 2014. The independent oil and gas company also announced $583.5m of impairment charges on lower near-term oil price assumptions, mainly relating to its North Sea Solan field project. Revenue fell 35 per cent to $1.1bn while oil [...]
Fed Reserve Bank of St. Louis: Why oil prices could fall to zero by mid-2019 despite markets predicting $50 per barrel

February 25, 2016

One calculation suggests oil prices could fall to zero by mid-2019. Two St. Louis Fed analysts looked at how low oil prices could fall given tumbling inflation expectations, and found it's largely out of whack with market expectations for the black stuff to recover to $50 per barrel in around three years' time. "According to our calculations, oil prices would [...]
UK housing crisis: The next problem area will be retirement homes

February 17, 2016

Talk of the housing crisis conjures up images of first time buyers trapped by sky high prices, as their income is syphoned off into rent. But alongside the cash-strapped "generation rent", there's another age group at risk: the next crisis may well be in retirement homes. At the heart of the difficulties in residential care lies [...]
Bombardier cutting 7,000 jobs as earnings slide

February 17, 2016

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Glencore share prices rises as it launches refinancing of $8.45bn loan

February 17, 2016

Shares in commodities miner and trader Glencore soared to the top of the FTSE 100 today, after it announced a refinancing deal to replace its $8.45bn one-year revolving credit facility that it initially signed in May 2015. In this initial pre-syndication phase, the company said it's received commitments from senior banks for $8.4bn, representing an increase from [...]

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By: Jessica Morris

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