Exclusive: Sun European’s managing director on private equity deal-making in the City post-pandemic April 21, 2022 Time for City A.M. to catch up with investment veteran and City insider Mark Corbidge, managing director and a member of Sun European’s Investment Committee.
No we will not pay for Russian energy in roubles, say united G7 as leading economies reject Putin demand March 28, 2022 Germany’s energy minister disclosed today that G7 countries have agreed not to give in to Moscow’s demand to pay for energy imports from Russia in roubles. Robert Habeck told reporters that “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts.” Habeck said that “payment in rouble [...]
Spotting an opportunity: Nigeria exploits anti-Moscow sentiment as oil giant offers to replace Russian gas in UK and Europe March 28, 2022 Nigeria has said it is ready and prepared to provide the UK and Europe with much more gas than it currently does in order to offer an alternative to Russian gas, according to a government minister. Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, told various media cross Africa his country is ready to [...]
Shell reconsiders decision to pull out of Cambo oilfield amid rising oil prices March 22, 2022 Shell is reportedly reconsidering its decision to pull out of the controversial Cambo oilfield amid skyrocketing energy prices.
Norwegian drilling champion Longboat Energy buffered by ‘material discovery’ and Russian oil and gas departure March 22, 2022 Emerging North Sea-focused E&P business Longboat Energy reported slow but steady growth this morning, as it remains fully-funded to complete its ongoing committed drilling programme.
Fuel exploration firm Pharos’ profits rise as new chief executive announced and Egypt deals near March 16, 2022 Gas and oil exploration firm Pharos Energy experienced increased profits and revenue last year, as it appointed a new chief executive to coincide with deals for two major Egyptian concessions. The London-based company had an operating profit of £48.3m (£37.3m) in 2021 according to its preliminary results, following a pandemic loss of $231.3m (£177m) the [...]
Prime Minister Boris Johnson confirms support for North Sea oil and gas industry March 14, 2022 Prime Minister Boris Johnson gave his backing to the North Sea oil and gas industry as the UK looks to ensure supply security.
200,000 barrels a day: BP joins forces with Eni to create Angola’s largest oil and gas producer March 14, 2022 BP and Eni told City A.M. in an email that they have signed an agreement to form a new 50/50 independent company, Azule Energy through the combination of the two companies’ Angolan businesses. The agreement follows a memorandum of understanding between the companies agreed in May 2021. Azule Energy will be a new international energy [...]
Petrol prices hit £1.51 per litre as cost of living crisis deepens February 28, 2022 UK petrol prices have broken records yet again following Russia’s invasion of Ukraine, which has further driven fears of supply shortages and seen oil prices spike to over $100 per barrel for the first time since 2014. The latest fuel watch figures from motoring group RAC reveal that unleaded petrol hit a peak on Sunday, [...]
Unprecedented: UK petrol prices hit staggering 148p per litre for the first time ever February 14, 2022 The average UK petrol price per litre has surpassed 148p for the first time ever, breaking the record price levels for the third time this year.