BP sticks by Rosneft as Russia crisis hits profit April 29, 2014 OIL GIANT BP yesterday reiterated its commitment to Rosneft, despite the US putting sanctions on its head earlier this week. The FTSE 100 firm owns an almost 20 per cent stake in the Russian oil producer, whose chief executive Igor Sechin is one of president Vladimir Putin’s oldest allies. Russia has been at loggerheads with [...]
Bottom Line: Oil giant stuck in a hard place over sanctions against Sechin April 29, 2014 BP BOSS Bob Dudley is no stranger to Russian controversy. In 2008, when he was head of the oil giant’s Russian arm, he was forced to leave the country in unusual circumstances after his visa renewal was refused and officials raided the firm’s local TNK-BP offices. Since he took over as chief executive of the [...]
EU extends sanctions over Ukraine April 29, 2014 THE EU has announced a further 15 people it has added to its list for sanctions over the violence in Ukraine. The list now contains the names of 48 Russian and pro- Russian individuals involved in the separatist movement. New sanctions have been announced against General Valery Gerasimov, first deputy defence minister, and Lieutenant General [...]
Norway’s Statoil posts bumper profit due to US gas price hike April 29, 2014 NORWEGIAN energy giant Statoil posted net profit of 23.7bn krone (£2.35bn) in the first quarter, up from 6.4bn krone the previous year, beating market expectations thanks to a rise in US gas prices. Statoil is present in all the major US shale gas plays and benefited from higher demand due to an unusually cold winter. [...]
Holborn Dining Room brings life to Midtown April 29, 2014 @steve_dinneen RESTAURANT HOLBORN DINING ROOM 252 High Holborn, WC1V 7EN Tel: 0203 747 8633 FOOD Four Stars VALUE Four Stars ATMOSPHERE Five Stars Cost for three with cocktails: £187 THERE’S NOT a lot going on in Holborn, or “Midtown” as nobody outside of an estate agent’s office has ever called it. In actual Midtown, exactly [...]
The West’s latest sanctions might deal a heavier blow than we think April 29, 2014 Despite being criticised for their mildness, the newest sanctions imposed on Russian companies and indviduals by the US and EU send out a clear message on elements of Russia's way of doing business. Russian officials have warned the country’s hi-tech sector could be affected and Gazprom, Russia’s massive gas company, has said the sanctions have the [...]
Asian markets indecisive as US imposes fresh sanctions April 29, 2014 Asian markets have been switching between gains and losses after a less than impressive day on Wall Street and the crisis in Ukraine continued to give investors reason for caution. The US has deployed more troops in eastern Europe and imposed fresh sanctions in response to Russia's activity in the region. The new sanctions target [...]
US unveils fresh sanctions wave on Moscow elite April 28, 2014 A FRESH round of sanctions on figures close to the Russian regime was announced by the American government yesterday. The list of people sanctioned included Igor Sechin, president and chairman of the board of Rosneft, an oil firm in which the Russian government is a majority shareholder and BP holds a 20 per cent stake. [...]
Letters to the Editor – 29/04 – HS2 alternatives, Super-billionaires, Best of Twitter April 28, 2014 HS2 alternatives [Re: Why MPs need to vote against the expensive folly that is HS2, yesterday] There is a “taxpayer free” alternative to HS2. The private sector solution is to build a new freight rail line to increase capacity on passenger lines. By transferring freight trains from the West Coast Mainline to the new line, twice the [...]
Gold ETFs in tug of war between Ukraine fears and US growth April 28, 2014 There has been mixed research on gold today. According to Saxo Bank, gold saw a sixth consecutive week of outflows in exchange traded products last week. Investors traditionally buy gold as a safe-haven asset at times of uncertainty, but ongoing fears about the political crisis in Ukraine have been offset by confidence in the US [...]