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12 Mar 2015 14:08

UPDATE 2-UK foreign minister seeks India assurance after $1.6 bln Cairn tax bill

(Adds fund manager quote, details) By Tommy Wilkes NEW DELHI, March 12 (Reuters) - Britain's foreign minister raised concerns in India on Thursday about a $1.6 billion retrospective tax bill charged to oil explorer Cairn Energy, and had been reassured there are no other such cases.Read more

12 Mar 2015 14:00

FTSE 100 movers: Astrazeneca soars on new diabetes research, RBS higher on upgrade

AstraZeneca topped the risers as it committed $40m to backing phase 2a trials for a new diabetes drug - a form of long-acting insulin that only needs to be administered once week. Glaxosmithkline was boosted by news it plans to sell approximately half of its 12.4% stake in Aspen Pharmacare Holdings.

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12 Mar 2015 10:50

Shell says its proved oil, gas reserves decreased in 2014

LONDON, March 12 (Reuters) - Royal Dutch Shell's proved oil and natural gas reserves decreased by the equivalent of 863 million barrels of oil in 2014, the company said in its annual report. "In 2014, after taking into account production, our total proved reserves declined by 863 million (

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12 Mar 2015 08:37

Shell boss gets $25.7 million payout

LONDON, March 12 (Reuters) - Royal Dutch Shell Chief Executive Ben van Beurden's total compensation for 2014 will be 24.2 million euros ($25.7 million), including 5.6 million euros in salary, bonus and shares plus pension and other items, the company said on Thursday. Shell spokeswoman Sal

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11 Mar 2015 21:36

UPDATE 1-Houston Ship Channel closure prompts refinery rate cuts

(Adds declaration of force majeure, diversion of tanker to other port, efforts to contain vapors) By Kristen Hays HOUSTON, March 11 (Reuters) - Exxon Mobil Corp said on Wednesday that it cut production rates at the second-largest refinery in the United States as crude deliveries were

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11 Mar 2015 21:09

U.S. Cash Crude-Grades rise after Brent/WTI arb jumps 15 pct

March 11 (Reuters) - U.S. cash crude differentials reversed course on Wednesday and rose after the premium for Brent over U.S. crude futures widened over 15 percent. The cash market, particularly for the U.S. Gulf Coast, has moved in what some market participants describe as lock step with

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11 Mar 2015 16:42

Galp sees delays in Brazil from Petrobras graft probe

* Portugal's Galp flags one-year delay in four offshore projects * Delays follow widening Petrobras graft probe By Ron Bousso LONDON, March 11 (Reuters) - A widening corruption probe into Brazil's state-run oil company Petrobras is likely to delay by at least one year four major

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11 Mar 2015 16:27

Motiva Convent refinery HCU shut, overhaul starting -sources

HOUSTON, March 11 (Reuters) - Motiva Enterprises has shut the 45,000 barrel per day (bpd) hydrocracking unit at its 235,000 bpd Convent, Louisiana, refinery and has started a planned overhaul, sources familiar with plant operations said on Wednesday. The HCU, called the heavy oil cracker o

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11 Mar 2015 07:33

RPT-UPDATE 1-Exxon, Shell's spending patterns may help them through oil price drop

(Repeats March 10 story with no change to text) * Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry

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10 Mar 2015 18:02

UPDATE 1-Exxon, Shell's spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls (Adds link to graphic) By Ron Bousso and Dmitry Zhdannikov LONDON, Marc

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10 Mar 2015 16:33

London close: FTSE plunges 2.5% to seven-week low as commodity stocks tank

A stronger US dollar and falling commodity prices led to a rout in the heavyweight energy and mining sectors on Tuesday, pushing the FTSE 100 down 2.5% to its lowest level in seven weeks. The Footsie ended the day down 173.63 points at 6,702.84, with ongoing concerns about Greece further weighing on

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10 Mar 2015 15:54

Exxon, Shell's spending patterns may help them through oil price drop

* Two biggest oil firms have finished major projects * Exxon, Shell able to cut 2015 spending * All oil majors face 2015 negative cashflow * Set to increase borrowing easily to cover shortfalls By Ron Bousso and Dmitry Zhdannikov LONDON, March 10 (Reuters) - The worl

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10 Mar 2015 14:14

FTSE 100 movers: Oil producers and miners weaker, Easyjet soars on lower costs

Oil producers such as Tullow, Shell and BG Group led the fallers as crude prices declined. Brent futures were down 1.4% at $57.73 a barrel by noon. Meanwhile, Easyjet was flying higher on the low oil prices, as fuel costs were further minimized. G4S was also among the risers after the security grou

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10 Mar 2015 11:45

UK mining and energy stocks slump on rising USD and declining commodity prices

Mining and energy stocks slumped on the FTSE 100 index in London on Tuesday as commodity prices continued to erode on the back of a strengthening US dollar and persistent concerns over the health of the Chinese economy. Midday in London, shares in mining stocks slumped with Kaz Minerals down 4.9%, B

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9 Mar 2015 13:47

UPDATE 1-Kuwait plans 2015 tender for oil service deals

(Adds quotes, details) By Rania El Gamal and Reem Shamseddine MANAMA, March 9 (Reuters) - Kuwait Oil Company (KOC) plans to tender this year for oilfield enhanced technical service agreements, the chief executive of the state-run company said on Monday. "We are in the process of

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