UK shares drop after Trump announces tariff escalation
UK shares fell Monday, after U.S. president Donald Trump said that his tariffs will cover all countries. This intensified a global trade conflict. The blue-chip FTSE 100 fell 1% as of 1011 GMT; the midcap FTSE 250 index dropped 1.9% to a more-than-eleven-month low.
Wood Group UK flags problems within its Projects Unit, Shares Slump
Wood Group, a British engineering and oilfield services company, said that it has identified "material failures and weaknesses" in its financial cultures within its Projects Business Unit following an independent Deloitte review. Early trade saw shares of the company fall about 25%.
Wood Group extends deadline for deal negotiations with Dubai's Sidara. FT reports
The Financial Times reported that the British oilfield engineering and services firm Wood Group agreed to extend its deadline for talking with Dubai's Sidara about a potential takeover after an unsuccessful attempt six months earlier.
EU source: EU selects PwC for mineral, energy platform
The EU has chosen PriceWaterhouseCoopers and a Slovak software company to develop a 9 million euro ($9.4 million) joint purchasing platform for critical minerals and energy, according to a European Commission source and a document seen by .
Report: Oilfield services consolidation will increase under Trump
According to Deloitte’s 2025 Oil and Gas Industry Outlook report, the oilfield services sector will consolidate in 2025. Donald Trump is expected to loosen regulations for the U.S. industry. This increase in services deals follows a…
UK Offshore Wind Attracts Investments
Power companies including Ørsted, Vattenfall, Innogy, SSE and Scottish Power and financial investors such as infrastructure and pension funds are active in UK offshore wind power, said Deloitte.Japan, China and other countries in Asia are also showing increasing interest in the market…
O&G Skills Requirements Shifting
Action is needed now to retain, retrain, recruit and renew the workforce in a rapidly changing UK oil and gas sector.These are the findings presented by energy skills body OPITO, who has set out a strategy to prepare the UK oil and gas…
Reabold Signs Rig Contract for West Newton Well
UK-based Reabold Resources said Rathlin Energy UK Ltd has signed a rig contract for the onshore UK West Newton appraisal well.The appraisal well at West Newton will have two objectives. The first objective is to appraise the Kirkham Abbey Formation gas discovery which has a 72 per cent.
India's Small Renewables Firms Fighting Consolidation Wave
Small to mid-sized renewable energy companies in India are starting to look like attractive takeover targets as lenders and investors withhold funds, worried by the stiff competition, weak bond markets, low tariffs and high debt besetting…
UAE's Stanford Marine in Talks to Restructure $325 mln in Debt
Stanford Marine Group <IPO-SFMG.L>, majority owned by a fund managed by private equity firm Abraaj Group, is in talks with banks to restructure a $325 million Islamic loan, banking sources said. The Dubai-based oil and gas services firm…
Endeavour Energy Kicks Off North Sea Assets Sale
Endeavour Energy UK has launched the sale of its North Sea oil and gas assets at an ambitious price target of $500 million, according to two industry sources and a document seen by Reuters. The sale is part of group asset sales after Endeavour's U.S.
US Oil Industry Set to Break Record, Upend Global Trade
Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won't last long. The U.S.
Court Thwarts VW's Bid to Suspend Emissions Audit
Germany's highest court has rejected a bid by Volkswagen AG to suspend the work of a special auditor appointed to investigate management's actions in the "Dieselgate" emissions scandal. A three-judge panel did not give an opinion on the merits of the case…
Most US Oil Execs See Prices below $60/Barrel through 2018
Nearly two-thirds of U.S. oil executives see crude oil prices remaining below $60 per barrel through 2018 and not hitting $70 until at least the next decade, according to a survey published on Wednesday by consultancy Deloitte Services LP.
Australia Risks Missing Next LNG Wave: Russell
Should the arrival of the last major piece of kit in Australia's $180 billion liquefied natural gas (LNG) spree be a cause for celebration or for a wake? It may seem that the arrival of the Ichthys Venturer floating production, storage…
EFG Hermes to Buy UK Solar Power Portfolio
EFG Hermes' renewable energy platform Vortex has agreed to buy a portfolio of solar power assets in Britain for 470 million pounds ($580 million) from Sun Edison's Terraforma. The portfolio includes 24 solar parks, has a combined 365…
Shale Gas Operations: Protecting Water is Central
Natural gas can be safely produced from the Northern Territory’s deep shale rocks without affecting precious water resources, according to a respected local environmental scientist. In a video produced by APPEA, Ray Hall, Managing Director at Darwin-based EcOz Environmental Services…
Latvia Mulls Options for Baltic Gas Facility
Latvia to liberalise gas market next April. A number of companies, including Germany's Open Grid Europe (OGE), are considering buying a stake in Latvia's future gas grid and storage operator Conexus Baltic Grid, the country's economy minister said.
Directors Elected at Gaslog AGM
GasLog Ltd. (the "Company" (NYSE:GLOG), an international owner, operator and manager of liquefied natural gas ("LNG") carriers, announced the election of ten directors at the Company's annual general meeting of shareholders held in Monaco today. The elected directors are Peter G.
Japan's Itochu Attacked by short-seller Glaucus
Glaucus questions how Itochu's classifies some investments. Japan's Itochu Corp became the target of short-seller Glaucus Research Group on Wednesday with a report criticising the trading company's accounting practices, sending its shares tumbling as much as 10 percent.
