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Oil

BUSINESS

Oil price fall hits London shares

Digital Desk -
The London market opened on the back foot weighed by miners and a drop in the oil price. The FTSE 100 Index fell 43.8 points...
BUSINESS

US government seeks to block oil giants’ merger

Digital Desk -
The US justice department is suing to stop Halliburton from buying oilfield-services rival Baker Hughes - the latest effort by the Obama administration to...
BUSINESS

Stocks end lower on Wall Street as commodities prices fal

Digital Desk -
Stocks ended lower on Wall Street as another drop in commodities prices pulled down energy and materials stocks. Cabot Oil & Gas sank 11% Tuesday,...
BUSINESS

Oil giants propose to freeze oil production’ if other oil producers join’

Digital Desk -
Russia has agreed with Opec members Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same. Energy minister Alexander...
BUSINESS

Shell profits fall 80%

Digital Desk -
Shell has seen its profits fall by 80% as a result of the slump in oil prices. However, the company still made £2.6bn in...
BUSINESS

US stocks and oil prices slump due to China slowdown fears

Digital Desk -
US stocks and oil prices have plunged again on more worries about a slowdown in China, giving the market its worst drop in three...
BUSINESS

Former Chinese state oil boss convicted of corruption

Digital Desk -
Two senior Chinese officials – one who led the country’s biggest oil company and the other a deputy party chief in populous Sichuan province...
BUSINESS

Shell to end Alaska offshore Arctic drilling

Digital Desk -
Royal Dutch Shell is to end exploration in offshore Alaska for the foreseeable future. The company said an exploratory well drilled to 6,800 feet found...
BUSINESS

Shell to cut 6,500 jobs

Digital Desk -
Oil giant Royal Dutch Shell has said it plans to cut 6,500 jobs this year. The firm said it was taking action amid a slump...
BUSINESS

BP announces $4.2bn loss as oil prices continue to fall

Digital Desk -
Oil giant BP swung to a US$4.2bn loss in the first six months of the year after taking another €9.8bn hit from its Deepwater...
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