Exxon and Chevron plan to sell stakes in ‘contract of the century’ oil field December 4, 2018 Exxon Mobil and Chevron are looking to sell their stakes in a BP-operated oil field in Azerbaijan once dubbed the “contract of the century”. Exxon Mobil is hoping it can raise up to $2bn by selling its 6.8 per cent holding in the field by the Caspian Sea, sources told Reuters yesterday. The move is [...]
Why a river of dirty money flows through the United Kingdom December 4, 2018 Britain first passed a law allowing for the creation of limited-liability companies – described by the Economist in 1999 as “the key to industrial capitalism” – in the mid-19th century. They quickly exploded in popularity. Those arrangements are now under close scrutiny, after landing at the heart of the money-laundering scandal that has enveloped Danish [...]
Oil prices soar as US and China agree to hold fire in trade war December 3, 2018 Oil prices soared overnight after a ceasefire in the US-China trade war was announced yesterday. International standard Brent crude was up 4.7 per cent to $62.42 a barrel this morning UK time. At the G20 meeting in Argentina over the weekend the US and China, the world’s two largest economies, agreed not to impose new [...]
Court short: Will Brexit loosen the UK’s legal grip? December 2, 2018 Last Thursday, Russian oligarch Oleg Deripaska squared off against a fellow Russian businessman Vladimir Chernukhin in court 15 of London’s Rolls Building, while in court 28 two Romanian oil companies went toe-to-toe, and in Court 19 a Russian bank litigated against some of its former shareholders. London has developed into a pre-eminent international dispute resolution [...]
Ukraine bans Russian men from entering country as tension continues to grow November 30, 2018 Ukraine has banned Russian men aged between 16 and 60 from crossing the border into the country as tensions between the two continue to rise. It comes after three Ukrainian ships and their crews were seized by Russia in the Black Sea last weekend, leaving several Ukrainians injured. Parts of the country became under marital [...]
Trump lawyer admits lying to Congress over president’s Russian affairs November 29, 2018 The former lawyer of US President Donald Trump has admitted he lied to Congress amid an investigation into Russia’s role in the 2016 election. Michael Cohen, who served as then-businessman Trump’s personal lawyer for several years, pleaded guilty following charges filed by special counsel Robert Mueller last night. Cohen said that he had included false [...]
Trump cancels meeting with Putin over Ukraine crisis November 29, 2018 US President Donald Trump has cancelled a meeting with Russian leader Vladmir Putin after the Russian navy seized two Ukranian vessels. The leaders were due to meet at the G20 in Argentina over the weekend, and the meeting was confirmed earlier today by the Kremlin. However, this afternoon Trump cancelled the meeting, citing Russian aggression [...]
Oil bounces back following reports Russia is prepared to cut output November 29, 2018 Crude oil prices today clawed back losses following reports that Russia has accepted the need to cut its output. Brent crude, the global benchmark, rose steeply today to $59.26 a barrel after closing at $58.12 yesterday. US West Texas Intermediate also recovered, having fallen below $50 a barrel for the first time since October 2017. [...]
‘This is Putin’s worst nightmare’: Browder hails German support for new EU sanctions against human rights abusers November 27, 2018 Investor and Kremlin critic Bill Browder said efforts to introduce an EU-wide sanctions regime that could hit countries like Russia and Saudi Arabia now have “real legs” after Germany signalled support for proposed new laws. Germany’s foreign office said today it is “committed” to supporting a Dutch proposal that would introduce an European equivalent to [...]
Ukraine introduces martial law as it warns of possible Russian invasion November 27, 2018 Ukraine has imposed martial law on parts of the country vulnerable to an attack by Russia following the naval clash between the two countries on Sunday. Ukraine’s President Petro Poroshenko said there was an “extremely serious” threat of a Russian land invasion after Russia injured six Ukrainian sailors at the weekend and seized three of [...]