Hedge Funds Spur Bets on Commodity Rebound
Two new commodity hedge funds launched in early 2016; allocations to commodity strategies $1.22 bln in Jan. After deserting commodities markets during last year's slide, some hedge funds are starting to move back in, betting a recent pick-up in energy prices could signal a turning point.
Britain's Hammond to Reopen Ransacked Embassy in Tehran
In a signal of the most striking thaw in the Western ties with Iran for over a decade, Foreign Secretary Philip Hammond will reopen the British embassy in Tehran nearly four years since protesters ransacked the elegant ambassadorial residence and burned the Union Jack. The nuclear deal…
Pain for Oil Producers, Service Providers
Oil producers and oilfield service providers down as U.S. crude oil prices fell below $42 a barrel after new build in U.S. stockpiles put global glut back in focus. U.S. crude last down 16 cents at $42.07 a barrel.
UK's Hunting Warns of Profit Slump
Oilfield services company Hunting Plc warned operating profit may slide by up to 75 percent this year as weak oil prices lead to ongoing cuts in oil drilling, although there were some signs that demand is stabilising. Hunting shares fell more than 7 percent in early trading on the London Stock Exchange…
UK's Oil Services Firms to Cut Jobs to Ride Out Price Slump
Amec Foster Wheeler Plc and Petrofac Ltd on Tuesday joined a growing list of London-listed oil and gas support services companies planning to cut jobs in response to the tumble in oil prices. Benchmark Brent crude oil prices have nearly halved in the first quarter, prompting large production…
Weir Warns of Revenue Dip
Uncertainty in oil and gas industry to hurt revenue, margins. Engineering company Weir Group Plc said uncertainty in the oil and gas industry would significantly reduce its 2015 revenue on a constant currency basis despite aggressive cost-cutting, sending its shares tumbling on Wednesday.
Shale Gas a Stepping Stone to Energy Security
Prominent figures from industry, government and academia converged in Aberdeen this week to discuss the main barriers to the development of unconventional gas, and the potential of this resource to provide indigenous energy supply. Speakers at Unconventional Gas Aberdeen 2014 were looking at how sources such as shale could reduce costly gas imports…
“Shale Gas Needed to Reduce UK Gas Imports”
Speakers set to fuel energy debate at Unconventional Gas Aberdeen 2014. Leading figures from industry and government speaking at Unconventional Gas Aberdeen 2014 will tomorrow highlight the impact U.K. shale development could have on reducing costly gas imports but admit that more needs to be done to reassure communities on aspects such as fracking.
Shale Gas Tech on Display in Aberdeen
New technologies designed to support the development of shale gas reservoirs in the U.K. will be on display at Unconventional Gas Aberdeen 2014 this month. Major service companies Schlumberger and Halliburton are among the exhibitors that will be showcasing technologies focused on direction drilling…
