EnQuest is cutting spending, jobs and pay in an effort to avoid breaking the terms of its bank loans, the Sunday Times reported. The biggest independent UK North Sea oil producer's shares have fallen 80% since last summer as the price of crude oil collapsed. Investors took fright because of the comp
Read moreMitie's shares have fallen but not as fast as those of outsourcing rivals such as Serco and Balfour Beatty, Danny Fortson pointed out in the Sunday Times. Matthew Earl, a former City analyst who writes a blog, criticised Mitie for buying companies to compensate for its own slow progress and for the
Read moreAfter a weak start, UK stocks rose to their highest in a week as a decent performance from the resource sectors and upbeat US data gave markets a boost. London's FTSE 100 finished the session up 0.8% at 6,550.27, its best close since 8 January when it settled at 6,569.96. Oil and gas stocks were ri
Read more** Oil and gas producers' shares up as Brent oil inches towards $50 per barrel after the West's energy watchdog forecast the market sell-off would end ** U.S.-listed shares of BP Plc up 4.6 pct, of Total SA up 2 pct, of Eni SpA up 2.2 pct ** U.S.-listed shares of Royal Dutch Shell Pl
Read more(Adds details) BAKU, Jan 16 (Reuters) - Azerbaijan's oil exports dropped 3.5 percent in 2014, a source at the State Customs Committee said on Friday, driven by falls at fields operated by BP. The source said Azerbaijan exported 33.04 million tonnes of oil last year, down from 34.25 mi
Read moreBAKU, Jan 16 (Reuters) - Azerbaijan's oil exports dropped 3.5 percent in 2014, a source at the State Customs Committee said on Friday, driven by falls at fields operated by BP. The source said Azerbaijan exported 33.04 million tonnes of oil last year, down from 34.25 million in 2013. (Rep
Read more* State budget assumes oil price of $90 per barrel * Government to increase non-oil taxes * SOCAR's dividends from oil may halve By Margarita Antidze and Nailia Bagirova BAKU, Jan 16 (Reuters) - The drop in oil prices threatens to blow a large hole in the budget of energy
Read moreOil giant BP was among the risers after the company revealed it faces a maximum penalty of $13.7bn under the Clean Water Act. This follows the District Court for the Eastern District of Louisiana ruling on the Deepwater Horizon case, which found that 3.19m barrels of oil were discharged in the Gulf
Read moreDecent gains from BP and the wider oil sector helped UK stocks to pare losses by Friday lunchtime, though the mood was still cautious ahead of some key economic figures from the States. BP was on the rise after being handed a smaller-than-expected civil penalty over the Gulf of Mexico oil spill in 2
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