Oil and gas decommissioning costs to hit nearly £17bn with 1.2m tonnes from North Sea to be removed With 1.2 million tonnes of disused oil and gas installations from the North Sea expected to be removed for reuse and recycling, UK oil and gas firms are being forecast to spend some £16.6bn on decommissioning work over the next decade. Industry body Oil and Gas UK (OGUK) said work in this area would be [...]
Companies raise record $400bn in first weeks of 2021 Companies raise record $400bn in first weeks of 2021 Companies have raised some $400bn in the first three weeks of 2021, marking the biggest haul of the past two decades for the comparable period. The buying frenzy is around $170bn above the average for this time of year, the Financial Times reported, citing Refinitiv data, and is a result of global government and central [...]
Before the Bell: Volatility remains low but Trump faces impeachment vote Before the Bell: Volatility remains low but Trump faces impeachment vote Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
Oil prices hit pre-lockdown levels as vaccine rally goes on November 24, 2020 Oil prices today hit their highest levels since the spring’s historic collapse as traders continued to celebrate news of yet another effective coronavirus vaccine. Brent crude jumped 3.9 per cent across the day to touch $48 – the highest the global standard has traded at since Opec initiated a price war with Russia at the [...]
Japan’s Nikkei index snaps eight-day winning streak as Covid-19 cases surge November 13, 2020 Nikkei snaps eight-day winning streak as COVID-19 cases surge
Oil prices plunge as second lockdown fears mount October 29, 2020 Global oil prices slumped to their lowest prices in nearly five months today as fears over new coronavirus lockdowns mounted. With numbers of new cases climbing around the world, several countries have put in place new restrictions, putting downward pressure on demand. Both Brent crude and West Texas Intermediate fell about six per cent earlier, [...]
China’s economy grew 4.9 per cent in third quarter October 19, 2020 China’s economy expanded 4.9 per cent year-on-year in the third quarter, missing expectations but storming ahead of other nations still suffering the economic fallout from the pandemic. Chinese GDP continued its recovery between July and September, marking a second consecutive quarter of growth following a 3.2 per cent hike in the second quarter. The return [...]
Has demand for oil already peaked? October 13, 2020 Alternative energy sources to fossil fuels have been around for many years. Countries around the world are now harnessing the power of the wind, sun and tides to cut their dependence on fossil fuels such as oil. Energy transition However, this transition to renewable energy is now set to accelerate rapidly, driven by a number [...]
Green shoots of recovery in the IPO market September 23, 2020 IPOs of all shapes and sizes were understandably shelved by the turmoil in global markets in the first half of the year. It would be a brave company that would launch their newly-listed firm into a global stock market that was in the midst of its biggest and most dramatic rout in years. It is [...]
Global oil demand set to fall as coronavirus recovery stalls September 15, 2020 The International Energy Agency (IEA) today reduced its forecast for global oil demand for the year, saying that the continued uncertainty caused by coronavirus shows little sign of abating. Oil markets have been rocked by unprecedented volatility this year, with the near-total shutdown of air travel and other restrictions on economic activity sending demand plunging. [...]