Oil & Gas Sector News

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  • Oil firm Soco to begin seismic testing in Congo's Virunga park Reuters - UK Focus - 1 hour 33 minutes ago

    British oil company Soco International will start seismic tests this weekend in Democratic Republic of Congo's Lake Edward, an executive said on Wednesday, despite campaigners' attempts to block exploration in a world heritage site. Conservation group WWF has called on Soco to withdraw from its blocks in UNESCO-protected …

  • Results Round-up Sharecast - 2 hours 32 minutes ago

    Shares in oil and gas developer Aminex tanked on Wednesday after the firm posted a loss for 2013 of 17.3m dollars.

  • Azeri state energy company SOCAR's shipyard and British oil major BP (LSE: BP.L - news) have signed a $378 million deal to design and build a subsea construction vessel for the Shah Deniz II gas project, BP said on Wednesday. Azerbaijan's biggest gas field, Shah Deniz is being developed by consortium partners BP, Statoil …

  • Power plant operator Drax prepares legal action after Government excludes plan to convert unit from coal to biomass

  • Multinational food processing and retailing company, Associated British Foods, announced it has appointed Ruth Cairnie as a non-executive director with effect from May 1st.

  • Household bills rise to pay for five offshore wind farms and three biomass plants

  • * Shares in Drax fall 14 pct * Drax to continue with conversion regardless of outcome * Dong Energy biggest winner of subsidy contracts (Adds further Drax reaction, Dong Energy contracts, lobby group comment, background) LONDON, April 23 (Reuters) - British electricity producer Drax said it had started legal proceedings …

  • Royal Dutch Shell Plc (LON:RDSB), BP plc (LON:BP) and Rio Tinto plc (LON:RIO) are heavyweight holdings of JP Morgan Claverhouse Investment Trust (LON:JCH).

  • Associated British Foods plc (LON:ABF) eyes the American dream for Primark.

  • Barring unexpected events, the upcoming trading session may well turn out to be the most interesting this week, as investors focus on a raft of important economic data which are set for release, alongside ...

  • The British government on Wednesday awarded investment contracts under a new subsidy regime to eight renewable energy projects, including five offshore wind farms and three biomass plants. The contracts were awarded on Wednesday under Britain's new contracts-for-difference scheme which gives renewable power generators …

  • Credit Suisse and JPMorgan, which were bookrunners on the float, drew attention to the group's valuation

  • FTSE closes up 56.51 points at 6,681.76; Easter weekend retail sales disappoint; Monthly US existing home sales down 0.4 per cent

  • FTSE 250 movers: Pharmaceutical stocks surge Sharecast - Tue, Apr 22, 2014 16:50 BST

    Worldwide Healthcare Trust and Hikma Pharmaceuticals tracked their FTSE 100 peers higher after AstraZeneca gained strongly on the back of takeover speculation, Shire rose following broker comment, and ...

  • Exxon works to reopen UK pipeline after tapping device found Reuters - UK Focus - Tue, Apr 22, 2014 16:30 BST

    Exxon Mobil (TLO: XOM-U.TI - news) is working to reopen one of Britain's main underground fuel pipelines after the discovery of a tapping device and a stash of diesel that police believe was siphoned off by thieves. The company, which operates as Esso (Berlin: EH8.BE - news) in Britain, said on Tuesday that the device …

  • Double Your Income In Just Six Years! Fool.co.uk - Tue, Apr 22, 2014 15:55 BST

    What matters is dividend growth, not just dividend yield.

  • Exxon finds tapping device on UK oil pipeline Reuters - UK Focus - Tue, Apr 22, 2014 14:57 BST

    Exxon Mobil said it found a tapping device on a UK oil products pipeline following reports that a stash of diesel had been discovered that police said had been siphoned off by thieves. "The Esso Midline ...

  • Motiva Enterprises plans to shut a 200,000-barrel-per-day crude distillation unit and a reformer at its 600,000-bpd refinery in Port Arthur, Texas, in early May for two weeks of repairs, sources familiar ...

  • Energy secretary Ed Davey hopes to end Russia's grip on Europe's energy supply but history suggests that Vladimir Putin and 'hydrocarbon man' hold all the cards

  • Gasol expects Ghana gas purchase deal within a month Reuters - UK Focus - Tue, Apr 22, 2014 11:21 BST

    Energy company Gasol (LSE: GAS.L - news) expects to sign a gas purchase agreement with Ghana National Gas Co within a month, bringing Gasol's Benin liquefied natural gas (LNG) project, which will provide the fuel, a step closer. "The talks with Ghana Gas are going well, so we are confident that we will make an announcement …

  • Five Isa investments to avoid this year Telegraph - Tue, Apr 22, 2014 11:07 BST

    Many brokers offer 'buy lists’, but here are five investments over which you should show caution

  • Five investments experts tip not to buy this year Telegraph - Tue, Apr 22, 2014 11:07 BST

    Many brokers offer 'buy lists’, but here we name the five investments to avoid in 2014

  • London open: Pharma M&A gives UK stocks a lift Sharecast - Tue, Apr 22, 2014 10:02 BST

    Strong gains from heavyweight pharmaceutical groups gave UK markets a boost on Tuesday morning, as investors returned to their desks in a positive mood following the four-day Bank Holiday weekend.

  • Tuesday broker round-up UPDATE Sharecast - Tue, Apr 22, 2014 01:56 BST

    ARM Holdings: Goldman Sachs cuts target price from 1500p to 1450p and keeps a buy recommendation.

  • Australian and Indian oil & gas company Oilex has finished drilling a well in India but said it may take several weeks to frack it.

  • Shell says Martinez refinery operating at planned rates Reuters - UK Focus - Tue, Apr 22, 2014 00:17 BST

    Royal Dutch Shell Plc's 156,400 barrel-per-day refinery in Martinez, California, was operating at planned rates, company spokeswoman Destin Singleton said in an email on Monday. The refinery had reported ...

  • Exxon shuts UK pipeline as police investigate fuel theft Reuters - UK Focus - Mon, Apr 21, 2014 19:22 BST

    Exxon Mobil (TLO: XOM-U.TI - news) shut one of Britain's main underground fuel pipelines, it said on Monday, after police found a stash of diesel they believe was siphoned off by thieves. Police arrested two men, aged 32 and 34, in connection with the theft.

  • Brent Oil price benchmark 'in urgent need of reform’ Telegraph - Mon, Apr 21, 2014 19:00 BST

    The pricing benchmark for two thirds of the world’s oil supply is “crumbling” and is in urgent need of reform, a new study warns

  • As stock markets around the world wobble, we investigate the safest shares for gains and income

  • Week ahead in business and economics: April 22 - 25 Telegraph - Mon, Apr 21, 2014 18:26 BST

    Public borrowing figures this week are expected to show that George Osborne, the Chancellor, narrowly missed his target for this year.

  • Pipeline Closed Down After 'Major Fuel Theft' Sky News - Mon, Apr 21, 2014 18:08 BST
    Pipeline Closed Down After 'Major Fuel Theft'

    An underground pipeline has been shut down because thieves are suspected of tapping into it and stealing a "large quantity" of diesel. The line, which transports fuel from Esso (Berlin: EH8.BE - news) 's Fawley oil refinery in Hampshire to its terminal in Birmingham, was closed for checks. The exact amount of fuel found …

  • Esso shuts UK fuel pipeline after theft report Reuters - UK Focus - Mon, Apr 21, 2014 15:25 BST

    Exxon's UK arm Esso has shut a pipeline running from its Fawley oil refinery near Southampton for checks, the company said on Monday, after a report that thieves tapped into the line and took thousands ...

  • Thieves tap UK pipeline, steal 30,000 litres of fuel-paper Reuters - UK Focus - Mon, Apr 21, 2014 12:33 BST

    UK police are hunting a gang of thieves who are thought to have tapped into an underground oil pipeline, stealing thousands of litres of fuel, a newspaper reported on Monday. More than 30,000 litres of diesel may have been taken from the pipeline running from Esso (Berlin: EH8.BE - news) 's Fawley Refinery, the Daily Echo …

  • Research from Redburn Partners shows that markets have new-found faith in Primark, the retail arm of Associated British Foods. Yet investors may have cause to be wary. The company's stock price has risen ...

  • French energy giants fuel UK double Telegraph - Sun, Apr 20, 2014 19:22 BST

    EDF is already the biggest electricity producer in Britain and next year Total will become the leading oil and gas producer in the UK sector of the North Sea

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