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Latest Finance News related to Black Gold

Budget 2017: Chancellor announces North Sea help image
Source : BBC [Read Article] Tuesday 7th of March 2017 10:29:53 PM
....A lot of fields aren't now making enough money for those oil majors and they want rid. But there are new kids on the block with the skills and commitment to produce the last few drops of black gold who would consider buying fields and keeping them going. ...
Brexit may seem like the west’s biggest problem. But look at the US economy image
.... In fact, the only announcement the oil cartel had to make was that they had picked a new (Nigerian) secretary general. Why the calm? One, because the oil price is drifting upwards again anyway; two, because everyone has become used to Opec agreeing nothing; and three, because the world of black gold is increasingly losing its glitter. ...
Brexit isn’t to blame for slowing UK growth. It’s more serious than that image
....There is no doubt that volumes of oil – and, particularly, lower-carbon gas – will be needed well into the 2030s. The global transport system is still heavily dependent on black gold and full electrification is a long way off. ...
Fresh fears of oil crash after Saudi Arabia refuses to deal  image
Source : Daily Express [Read Article] Monday 18th of April 2016 01:58:00 PM
.... The fall in oil prices has raised fears of market chaos, with top stock markets in Britain and Europe nursing losses this morning. World demand for so-called black gold is currently far lower than supply, which has resulted in collapsing prices over the past two years and inflicted huge damage on countries dependent upon oil export. ...
From rags to riches to rags in 12 years: the extraordinary story of Nathan Tinkler image
....His bankruptcy prevents him from acting as a company director with his latest venture, Australian Pacific Coal, another highly leveraged bet on coal prices for which he raised a $30m deposit in January and was paid $700,000 a year as managing director. The outlook for what was often referred to last decade in the Australian business press as “black gold”, in the view of some analysts, means stories like Tinkler’s will become far rarer. ...
Life after oil: can Aberdeen rise again? image
Source : BBC [Read Article] Thursday 25th of February 2016 12:00:28 AM
....". For the university, which offers a plethora of postgraduate energy degrees (and still has one of the highest graduate employment rates in the country), expertise may become more important than the black gold itself. ...
'This firm will save €1bn in costs': The shares fund managers are backing in the oil slump  image
.... Some fund managers hold the view that oil prices will stay at low levels for at least the next year or two. They say that, rather than just simply avoiding the sector, there are various ways to make money by backing the businesses that are benefitting from the fall in “black gold”. ...
Explainer: How the UK entered the bear market trap image
Source : Telegraph [Read Article] Wednesday 20th of January 2016 07:39:16 PM
.... To add to the misery, Iran has returned to the market after sanctions were lifted on exports. The country plans to boost crude production, which will flood the market with even more black gold and offset production cuts from other countries. ...
Saudi Aramco – the $10tn mystery at the heart of the Gulf state image
Source : Guardian [Read Article] Saturday 16th of January 2016 03:59:00 PM
.... Exactly how that will be done if foreign investors can buy shares is a troubling and unanswered question, say critics. But a 75% plunge in global crude prices over the last 18 months to $30 per barrel – caused by a downturn in demand and a supply glut that Saudi Arabia and fellow Opec members have refused to address in their determination to drive US fracking rivals out of business – has caused financial pain to producing nations around the world, who had grown used to funding pretty much their entire economies and social programmes on black gold. ...
Saudi Arabia’s pockets are deep enough to weather oil price slump image
Source : Telegraph [Read Article] Monday 23rd of November 2015 05:43:31 PM
.... The recent slump in the price of crude oil has led many to predict Saudi Arabia’s imminent economic collapse. The country derives more than 80pc of its total revenues from the sale of black gold, according to official government figures. ...
Questor share tip: Avoid Tullow as debts weigh image
Source : Telegraph [Read Article] Friday 2nd of October 2015 10:36:33 AM
.... . Tullow is in an awkward position after borrowing billions to build the infrastructure necessary to access the black gold it finds. ...
Falling oil prices force Saudi Arabia to cut public spending image
Source : Daily Express [Read Article] Monday 7th of September 2015 05:20:00 PM
.... Saudi Arabia's finance minister Ibrahim al-Assaf said: "We have built reserves, cut public debt to near-zero levels and we are now working on cutting unnecessary expenses while focusing on main development projects and on building human resources in the kingdom. "The country has become extremely rich from exporting 'black gold' to the world. ...
Shell faces huge risks and potential rewards with an Arctic adventure  image
Source : Telegraph [Read Article] Tuesday 18th of August 2015 06:23:34 PM
.... . The licence allows its Polar Pioneer rig to begin drilling down to the ice-cold, murky depths of about 8,000ft below the seabed where black gold is thought to be hiding in vast quantities. ...
Could falling oil prices BANKRUPT resource-rich Saudi Arabia? image
Source : Daily Express [Read Article] Thursday 6th of August 2015 04:19:00 PM
....The Arab country is the largest oil producer in the world and its economy is heavily dependent upon the commodity. In recent decades the country soared to wealth off the back of exporting 'black gold' to the world. ...
Growth at all costs: climate change, fossil fuel subsidies and the Treasury image
.... This presumably is the thinking behind what are already £1. 3bn of tax breaks and subsidies a year, and as forecasts show the wells of black gold in the North Sea are drying up fast the chancellor announced new exemptions of more than £200m a year in his March budget to encourage exploration. ...
Taking Aim: risky dream or wise option for canny investors? image
Source : Telegraph [Read Article] Saturday 18th of April 2015 04:27:20 PM
.... Last Wednesday, prompted by the regulators of Aim, UKOG issued a “clarification of press comment” in which it stressed its estimates “should not be considered as either contingent or prospective resources or reserves” and did not repeat its claim the discovery was “world-class”. In effect, it could not say for certain how much black gold there might be. ...
Artisan roasters strike black gold with UK coffee lovers image
Source : Guardian [Read Article] Friday 27th of March 2015 04:08:30 PM
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The leaders turning Africa into the bright continent image
Source : Independent [Read Article] Saturday 21st of March 2015 12:04:04 AM
.... The governor, Lamido Sanusi, was promptly sacked for his troubles. After consistent complaints that Nigeria should have been doing more to save its oil windfalls for future generations, in 2011 the country decreed that it should form a sovereign wealth fund to invest the  money it makes from the black gold into other assets around the world. ...
BP slashes billions from investment plans as it reveals £645m loss image
Source : Independent [Read Article] Tuesday 3rd of February 2015 08:36:25 AM
....BP and BG Group slashed $9 billion (£5. 98 billion) from their capital-spending plans today, bringing the total cuts to planned investment by oil majors to $35 billion as the price of “black gold” continues  to languish. ...
Did you know Marmite can be white? 12 little-known facts about the savoury spread image
.... Love it or hate it, marmite provokes heated discussion. On one side are devoted fans who worship the pots of “black gold” and have it on toast every morning. ...
How Westminster helped squander Scotland’s black gold image
Source : Guardian [Read Article] Sunday 18th of January 2015 01:30:01 AM
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Climate change scaremongering won’t trouble oil junkies image
Source : Telegraph [Read Article] Thursday 8th of January 2015 08:30:21 PM
.... . With more than 200bn barrels of proven oil reserves, equal to 13pc of the world’s total remaining stocks of "black gold", Saudi Arabia has the spare capacity and the political will to step in and pump more crude should nations such as the US in the Arctic, or even the UK, cut back on output in order to meet their own global warming targets. ...
In charts: the funds wiped out by the falling oil price image
Source : Telegraph [Read Article] Monday 22nd of December 2014 09:12:28 AM
.... . Since the middle of June the "black gold" commodity has fallen nearly 50pc in price, with Brent crude dropping from $116 to nearer $60 a barrel. ...
Brent oil prices plunge below $60 a barrel image
Source : Independent [Read Article] Tuesday 16th of December 2014 12:45:46 PM
....Oil extended losses on Tuesday, falling below $59 a barrel for the first time since July 2009 and heaping further pressure on oil exporters. The value of “black gold” has fallen by 40 per cent this year as a result of both falling demand and increased supply. ...
MORNING MEETING: BT's dialling the right tones image
Source : Daily Express [Read Article] Tuesday 16th of December 2014 11:26:00 AM
.... But what if consumers hang on to the benefits of lower bills instead of spending them, fearful that the fall in oil prices is a sign of a deteriorating economic climate?. The eurozone economy is already labouring under the risk of deflation and this could be exacerbated if black gold remains out of favour. ...
Rouble plummets to a record low against the dollar as oil crashes image
Source : Telegraph [Read Article] Monday 15th of December 2014 01:30:49 PM
.... Brent - a key oil benchmark - has traded lower than $61 a barrel in recent days. The Russian state is dependent on revenues from black gold in order to finance itself. ...
MARKET REPORT: Opec predicted crude oil demand falling to weakest level for 12 years image
Source : Daily Express [Read Article] Thursday 11th of December 2014 12:00:00 AM
....04 after Opec reduced its forecast for how much oil it will need to provide next year amid falling consumption estimates and surging US shale supplies. With Brent and US light crude falling by about 4 per cent to their lowest for five years, investors dumped black gold stocks. ...
MARKET REPORT: China move boosts miners image
Source : Daily Express [Read Article] Saturday 22nd of November 2014 12:00:00 AM
MARKET REPORT: Shine fades on gold and silver miners  image
Source : Daily Express [Read Article] Friday 31st of October 2014 12:00:00 AM
.... Fellow top-flight producer Fresnillo dipped 32½p to 716½p as gold’s attraction as a safe haven diminished compared with an improving US economy. Africa and Middle East-focused oil company Afren slipped 14½p to 78¾p as production came in below forecasts, dampening sentiment towards fellow black gold exploration and production companies including Tullow Oil, down 10p to 484p, Premier Oil, 10½p adrift at 259p, and Cairn Energy, 6p lower at 148¾p. ...
Dashwood: Out of the fire, into the frying pan, for Quindell founder Rob Terry image
.... . Lenigas, who has an interest in three of the small-cap companies in the consortium prospecting for oil at the Horse Hill site near Gatwick, has been giving his followers on Twitter a glut of cryptic updates hinting at whether or not the project will strike black gold. ...
....Are we poised to see some takeover action among oil producers? . As the price of black gold continues to fall, with the International Energy Association yesterday warning of slowing demand for oil next year, energy explorers that are highly leveraged are starting to look vulnerable. ...
Fall in oil price is good for drivers, and for George Osborne image
Source : Telegraph [Read Article] Tuesday 30th of September 2014 08:38:53 PM
. With memories of the 1970s oil crisis fading, economists and analysts are paying far less attention to black gold these days. ...
Source : Independent [Read Article] Wednesday 20th of August 2014 11:59:18 PM
....75p to 78. 75p on reports that the pipeline carrying black gold out of the region is set to double its capacity. ...
Source : Independent [Read Article] Wednesday 11th of June 2014 11:00:00 PM
.... A private equity bid could be around the £40-a-share mark. News that extremists have seized the oil-rich province of Mosul in Iraq hit companies searching for black gold in the country. ...
....Tom Robinson at Deutsche Bank was banging the drum for Kurdish oil. Squabbles between local legislators and the Iraqi government have made getting black gold out of the region difficult but Mr Robinson believes Kurdistan is "poised to become a major exporter". ...

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