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PARIS, March 22 (Reuters) - French oil major Total on Friday launched a new supercomputer that will help it find oil 15 times faster than before and rank it among the world's top 10 institutions in terms of computing power. The machine, called Pangea, will allow the Paris-based group to he
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Stocks trimmed gains on Friday afternoon on the back of ongoing developments in Cyprus as politicians desperately scramble to come up with a 'Plan B' to raise the funds needed to secure financial assistance from the Troika. Nevertheless, markets maintained their positive bias on hopes that a deal c
Read moreHOUSTON, March 22 (Reuters) - A 102,500 barrel per day gasoline-producing fluidic catalytic cracking unit returned to normal operation on Friday at BP Plc's 240,000 barrel-per-day Los Angeles-area refinery in Carson, California, according to sources familiar with refinery operations. The re
Read more* BP joins Glencore, Vitol as supplier of crude to Hellenic * Switch to new suppliers after Iran embargo was costly * Some deals concluded through barter and cash - traders * More traders eye business as Greek worries ease By Julia Payne LONDON, March 22 (Reuters) -
Read moreEuropean stocks were making moderate gains on Friday morning but the mood on financial markets was cautious with the focus firmly on Cyprus ahead of pivotal day for the country's future in the Eurozone. According to government spokesman Christos Sylianides this morning, the "next few hours" are key
Read moreBank of America Merrill Lynch has taken a less bearish view on global banking group HSBC and moved its recommendation from 'underperform' to 'neutral'. BofA said: "While we remain concerned about the return on equity capacity of HSBC, it has done an outstanding job in improving capital ratios, some
Read moreCanaccord Genuity has kept its 'hold' rating and 500p target price for oil giant BP but has said that Friday's announced share buyback is bigger than the market had expected. Following the closure of the sale of BP's 50% stake in TNK-BP to Rosneft, the oil group announced a share buyback of up to $
Read moreMOSCOW, March 22 (Reuters) - Shares in TNK-BP Holding , the traded unit of TNK-BP oil producer, fell more than 14 percent to reach its historic low on Friday after Igor Sechin, the head of Rosneft, reiterated that Rosneft will not buy out TNK-BP shares. Sechin told Rossia-24 TV channel that
Read more* To return $8 bln via share buy-back over 12-18 months * Analysts says return is more than expected * Shares rise 1.8 pct By Sarah Young LONDON, March 22 (Reuters) - British oil company BP announced on Friday an $8 billion share buy-back programme, acting swiftly on its
Read moreWhile the attention had diverted away from Cyprus temporarily over the last few days - owing to the Budget in the UK and the FOMC decision in the States - concerns had returned with a vengeance on Friday morning, causing stocks to slip early on. It seems that talks with Russia to provide additional
Read more* Says 50 million tonnes of oil a year to China "achievable" * China's new leader Xi Jinping to visit Moscow MOSCOW, March 22 (Reuters) - Rosneft's ambitious goal of increasing oil supplies to China to 50 million tonnes a year (1 million barrels per day) is achievable, the company's h
Read moreCity sources predict the FTSE 100 will open down 21 points from yesterday's close of 4,389, tracking declines seen in the US overnight as investors await further news on Cyprus. US stocks fell the most they had in almost a month on Thursday, as weaker-than-expected data out from the Eurozone and c
Read moreJAKARTA, March 22 (Reuters) - London-listed oil and gas giant BP said its plans for a third liquefied natural gas (LNG) train at its Tangguh project in Indonesia are on schedule to go on stream in 2019, in a meeting with the country's oil and gas regulator on Friday. The Tangguh Train 3 pro
Read moreMOSCOW, March 22 (Reuters) - Rosneft's ambitious goal of increasing oil supplies to China to 50 million tonnes a year (1 million barrels per day) is achievable, the company's head Igor Sechin said in a television interview on Friday. Industry sources have told Reuters that Rosneft plans to
Read moreLONDON, March 22 (Reuters) - British oil company BP said on Friday it would launch an $8 billion share buy-back programme to return cash to shareholders after closing the sale of its stake in its Russian unit. BP, which completed the sale of its partially-owned Russian oil firm TNK-BP to R
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