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.... “Why would Qatar stop exporting LNG? The shipping lanes are open. “The markets should not be spooked,” he added, although he warned the crisis could introduce some erratic volatility to oil and gas markets. ... [Read full article on Guardian ]
Thursday 8th of June 2017 06:29:15 PM
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Latest Finance News related to Gas Market

Qatar crisis highlights rising UK energy reliance on imports image
Source : Guardian [Read Article] Thursday 8th of June 2017 06:29:15 PM
.... “Why would Qatar stop exporting LNG? The shipping lanes are open. “The markets should not be spooked,” he added, although he warned the crisis could introduce some erratic volatility to oil and gas markets. ...
Sainsbury's takes inflation hit on the chin as Aldi and Lidl loom | Nils Pratley image
....Those MPs who spent Thursday beating up the big energy suppliers in parliament may also note the supermarkets’ experience. In the electricity and gas market, price increases are being blamed on different factors – rising wholesale prices and the cost of programmes to upgrade infrastructure – but the seemingly mechanical nature of the hikes is striking. ...
Wood Group agrees takeover of rival Amec Foster Wheeler image
Source : BBC [Read Article] Monday 13th of March 2017 08:32:01 AM
....Amec also announced on Monday that last year's revenues fell 8% to £5. 4bn after "continuing weakness" in the oil and gas market offset strong performances elsewhere in its business. ...
High energy bills here to stay but jobs heading overseas, industry group warns image
....The “staggering” increase in energy costs faced by households and businesses will continue thanks to rising gas prices, putting jobs in jeopardy, according to the Australian Industry Group. Warning that last year’s steep price rises are set to become “the new normal”, the Ai Group says in a report on Tuesday that the complexities of the gas market have combined with a decline in coal-fired power generation to produce a perfect storm for consumers. ...
Rolls-Royce says cost cuts will be at top of target range image
Source : Guardian [Read Article] Wednesday 16th of November 2016 12:10:37 PM
....In the trading update, East said Rolls-Royce’s long-term order book was close to record levels but that markets in the short run were mixed, with difficult trading persisting in some. Demand for engines for extra-wide-body civil aircraft was strong, but there was further weakening in business aviation and no sign of recovery in offshore oil and gas markets for marine, where orders were “very weak”. ...
Rolls-Royce increases cost-saving plans image
Source : BBC [Read Article] Wednesday 16th of November 2016 11:43:06 AM
....The company said demand for its engines for extra wide body aircraft had stayed strong. However, Rolls was losing ground in business aviation, while problems in offshore oil and gas markets meant its marine orders were "very weak". ...
OneSubsea: 600 jobs at risk at Leeds engineering firm image
Source : BBC [Read Article] Wednesday 5th of October 2016 11:31:13 AM
...."There's still oil and gas out there, but the low oil price means a lot of companies have said it's too expensive at the moment for us to go and find it," the Labour MP added. According to its website, OneSubsea creates "integrated solutions, products, systems and services for the subsea oil and gas market". ...
UK manufacturers cut jobs and prices amid economic slowdown image
Source : Guardian [Read Article] Friday 1st of April 2016 10:55:21 AM
....Manufacturers continued to rely on the domestic market for new business in March as factories reported that softer global economic growth dented new work from key trading partners such as the US and Europe. Some companies also said the weak oil and gas market had hurt sales to some regions – especially the Middle East. ...
Aberdeen oil tycoon pulls the plug on North Sea firm image
Source : Telegraph [Read Article] Monday 22nd of February 2016 02:50:24 PM
. North Sea explorer First Oil Expro has entered into administration amid a sharp decline in the oil and gas markets. ...
UK business gas supplies could be diverted to households in Europe, under EU crisis plan image
.... . "The solidarity principal is a proposal at this stage and would only apply to periods of absolute emergency and not to periods of general gas market tightness. ...
North Sea crisis raises UK gas supply risk, former energy minister warns image
Source : Telegraph [Read Article] Friday 12th of February 2016 04:05:35 PM
.... . In 2012 a cut in gas supply from Russia and Ukraine caused prices to spike, and a year later a Belgian pipeline outage in early spring led to record highs in the UK gas market because domestic storage facilities were already empty. ...
Energy supply crunch looms as Staffordshire coal plant to close image
Source : Telegraph [Read Article] Monday 8th of February 2016 06:38:31 PM
.... . Electricity prices have tracked a similar downward trend as seen in oil and gas markets, but are weakened further by the rise of subsidised renewables, which suppress overall prices. ...
Markets SPIRAL: Panic as FTSE 100 enters bear market and loses more than £40BN in AN HOUR  image
....Michael Hewson, chief market analyst at CMC Markets UK, said: "A slide in oil prices was all that was required to send yesterday’s rebound back down the wall of worry, and back onto the slope of sorrow. "Since the beginning of this year equity markets have not only spun their wheels, they have lost any semblance of positive traction as continued concerns of oversupply in the oil and gas market set against a backdrop of slowing global growth has seen stock markets across the globe slip back into bear market territory. ...
Gazprom threatens Kiev with $2.6bn gas bill image
Source : Telegraph [Read Article] Tuesday 19th of January 2016 02:40:17 PM
.... . Although previous supply disruptions through this route have caused European and UK gas market prices to spike, traders said on Tuesday that bearish fundamentals continue to play a stronger role. ...
BHP writes down $7.2bn of shale assets image
Source : BBC [Read Article] Friday 15th of January 2016 08:11:16 AM
....Oil prices have slumped by 70% since June 2014 to just above $30 a barrel, putting oil companies of all sizes and a number of oil exporting countries under significant financial pressure. "Oil and gas markets have been significantly weaker than the industry expected," BHP chief executive Andrew Mackenzie said in a statement. ...
BHP Billiton takes £5bn writedown on US oil assets as price slump takes toll image
....70 in early trade in Australia on Friday. “Oil and gas markets have been significantly weaker than the industry expected. ...
BHP Billiton announces $7bn writedown amid oil and gas slump image
Source : Telegraph [Read Article] Thursday 14th of January 2016 11:49:57 PM
.... . BHP Billiton chief executive Andrew Mackenzie said: “Oil and gas markets have been significantly weaker than the industry expected. ...
Aveva shares fall after it scraps deal with Schneider Electric image
Source : Guardian [Read Article] Tuesday 15th of December 2015 10:51:43 AM
. Shares in the engineering software maker Aveva have fallen by more than a third after it scrapped a complex tie-up with France’s Schneider Electric that would have reduced the UK company’s exposure to troubled oil and gas markets. ...
Call for fracking to get started in UK image
Source : BBC [Read Article] Tuesday 15th of December 2015 02:33:00 AM
...." . Shale gas production has reduced energy prices in the US, but the UK is part of a wider EU gas market and the volumes of shale gas produced here would be modest in EU terms. ...
City news: easyHotel, Ashtead, Xchanging and House of Fraser image
Source : Daily Express [Read Article] Wednesday 9th of December 2015 07:30:00 PM
....AMERICA’S construction boom has put equipment rental company Ashtead Group on course for higher annual profits. The FTSE 100 firm shrugged off weakness in oil and gas markets to lift underlying half-year pre-tax profit by 21 per cent to £342. ...
FTSE jumps nearly 2% with security group Smiths leading the way image
Source : Guardian [Read Article] Tuesday 17th of November 2015 09:29:18 AM
....5p or nearly 10% to £10. 18 after the engineering group said its expectations for the year were unchanged despite a 4% decline in first quarter revenues due to the continuing weakness in oil and gas markets. ...
BG Group profits drop as it nears merger with Shell image
Source : Telegraph [Read Article] Friday 30th of October 2015 08:31:17 AM
.... . The merger will boost Shell’s presence in the liquid natural gas market and give it access to BG’s oil resources in Brazil, although some analysts have questioned whether it still represents value for money. ...
Australia raises concerns over Shell's $70bn takeover of BG Group image
Source : Telegraph [Read Article] Thursday 17th of September 2015 10:48:25 PM
.... . Some of Australia's biggest manufacturers fear Shell's takeover of BG could worsen what they see as a lack of competition in the country's eastern gas market, spurred by three new LNG export plants, including BG's, in Queensland. ...
Rotork shares dive as valve-maker warns on profits image
Source : Telegraph [Read Article] Thursday 17th of September 2015 01:22:54 PM
.... . Last month Rotork agreed to purchase rival Bifold for up to £125m in a deal that increased its exposure to the oil and gas markets. ...
Ashtead defies sector gloom as equipment rentals rise image
Source : Telegraph [Read Article] Wednesday 2nd of September 2015 08:29:07 AM
.... . Barclays analysts, who have an “overweight” rating on Ashtead, said: “Ashtead’s share price has fallen 20pc this year, as fears over the potential impact of a declining oil and gas market and negative comments from competitors on market over-capacity have dominated sentiment. ...
Source : Independent [Read Article] Monday 31st of August 2015 05:15:00 AM
....The Glasgow-based company, which makes pumps and valves for the oil industry, has seen its share price almost halve in a year – dragging its market capitalisation to below £3bn – with oil firms slashing budgets amid lower prices. Its half-year results in July revealed a 13 per cent decline in revenues to £1bn and a 40 per cent slump in pre-tax profits to £108m, prompting chief executive Keith Cochrane to call it “the most severe downturn in oil and gas markets for nearly thirty years”. ...
Behind the falling Footsie lurks China's shadow  image
Source : Telegraph [Read Article] Thursday 20th of August 2015 11:07:59 PM
.... Only Weir Group, the industrial pump maker, stands out from the laggards. It supplies the oil and gas market and has therefore been hit by the slump in the price of crude. ...
Crude awakening image
Source : BBC [Read Article] Wednesday 19th of August 2015 07:54:31 PM
.... It reported a 13% drop in revenue, nearly halving in profit and 32% cut in North American workforce. This reflected "the most severe downturn in oil and gas markets in nearly 30 years," said chief executive Keith Cochrane. ...
Questor share tip: Wood Group still a sell as profits fall image
Source : Telegraph [Read Article] Wednesday 19th of August 2015 09:27:47 AM
....66bn compared with the same period last year. Bob Keiller, chief executive, said that conditions in the oil and gas market remain “very challenging”. ...
Wood Group cuts 5,000 jobs amid oil price slump image
Source : Guardian [Read Article] Tuesday 18th of August 2015 10:11:32 AM
.... Bob Keiller, chief executive, said:. Conditions in oil and gas markets remain very challenging. ...
Wood Group cuts jobs as profits fall image
Source : BBC [Read Article] Tuesday 18th of August 2015 07:31:38 AM
....The group announced in February that it would be cutting jobs to cut costs. "Conditions in oil and gas markets remain very challenging," said Wood Group's chief executive, Bob Keiller. ...
Shares in G4S fall after broker downgrade image
Source : Telegraph [Read Article] Thursday 13th of August 2015 04:54:11 PM
....8 branches in the same radius. Rory McKenzie, of UBS, said “we struggle to believe Ashtead will not be affected by the increase in rental equipment supply and localised demand weakness in the oil and gas markets”. ...
Greek PM seeks bailout ratification as doubts remain over German support image
Source : Guardian [Read Article] Wednesday 12th of August 2015 09:44:12 AM
.... “In that case, we need all the member states” to approve the loan. The outline deal requires Greece to impose a raft of 35 fiscal and other market reform measures, from overhauling the gas market through liberalising pharmacies to selling off state property, revamping the welfare system, opening up closed professions, scrapping most early retirement schemes, cutting fuel price benefits for farmers and raising taxes. ...
Berkeley's supercharged share payout makes Sir Martin Sorrell's look modest image
....The timing also follows the familiar textbook. Buffett is buying after the share price has fallen from its highs, in this case because of weakness in the oil and gas markets, which Precision also supplies. ...
Intertek shares jump as investors welcome 17pc profit hike image
Source : Telegraph [Read Article] Monday 3rd of August 2015 10:30:11 AM
.... . However, challenging conditions in the oil and gas market reduced growth in its industry and assurance business. ...
Aggreko shares plunge after profit warning image
Source : Telegraph [Read Article] Friday 24th of July 2015 10:52:45 AM
.... . Weaker oil and gas markets in the US have weighed on the group’s North American business, and its offshore oil and gas business in the Gulf of Mexico has also started to feel the effects of the lower oil price. ...
Shares in Aveva soar after Schneider Electric deal image
Source : Telegraph [Read Article] Monday 20th of July 2015 08:43:07 AM
.... . The deal will also diversify Aveva’s exposure to the oil and gas markets which currently account for around 45pc of its sales. ...
'Goldilocks’ energy price limit doesn’t bear scrutiny image
Source : Telegraph [Read Article] Tuesday 7th of July 2015 07:22:20 PM
.... . So, what aspects aren’t a problem? The wholesale electricity and gas markets, vertical integration, and tacit co-ordination between energy suppliers. ...
BG-Shell takes first step towards Brazilian blessing image
Source : Telegraph [Read Article] Tuesday 23rd of June 2015 05:38:59 PM
.... Shell and BG are also yet to file with Mofcom although remain confident that the deal will be passed because of the large global markets. However, Chinese authorities are expected to scrutinise a dominance in the gas market. ...
US looks to export shale revolution image
Source : BBC [Read Article] Tuesday 2nd of June 2015 11:05:03 PM
....Vast quantities of fracked gas have already seen domestic energy prices tumble, providing not only US manufacturers but the wider economy with a hefty shot in the arm. Now the country is looking beyond its own borders to become a major player in global gas markets. ...
A pre-pay electricity meter made my student life hell image
Source : Guardian [Read Article] Monday 1st of June 2015 08:58:09 AM
.... We had a huge bill to pay later. The recent figures from Ofgem, the government’s electricity and gas market watchdog, show that 97,000 pre-pay gas and electricity meters were installed in England, Wales and Scotland last year alone, in efforts to recoup debt. ...
Russian gas industry looks east image
Source : BBC [Read Article] Wednesday 27th of May 2015 11:00:12 PM
....If sanctions remain in place over the long term, raising finance may become an issue, but right now they are having little impact on Russian gas producers. The European Commission's charge last month that Gazprom has abused its dominant market position in Central and Eastern European gas markets is also unlikely to undermine the company's stranglehold on European gas imports. ...
BG Group reports fall in profits as oil price drop bites image
Source : Telegraph [Read Article] Friday 8th of May 2015 06:53:26 AM
.... "Our LNG business performed strongly. We delivered more cargoes and in our North American gas marketing business we demonstrated our ability to move swiftly to capture the benefits of the rise in US gas prices due to cold weather. ...
Strong pound and failling oil weigh on engineer IMI  image
Source : Telegraph [Read Article] Thursday 7th of May 2015 11:28:00 AM
.... . The oil and gas market has been “relatively resilient” for the industrial valves the company makes, IMI said, but nuclear has been “particularly disappointing”. ...
BP profit hit by oil price fall image
Source : BBC [Read Article] Tuesday 28th of April 2015 06:34:18 AM
....7bn a year earlier. "Upstream result was significantly affected by lower oil and gas prices as well as weaker gas marketing and trading and $375m costs associated with the cancellation of contracts for two deepwater rigs in the Gulf of Mexico," BP said. ...
EU fires warning shot at Gazprom with market abuse charge image
Source : Guardian [Read Article] Wednesday 22nd of April 2015 11:23:33 AM
....“All companies that operate in the European market – no matter if they are European or not – have to play by our EU rules,” said Margrethe Vestager, the competition commissioner who opened a similar high-profile case last week against Google. The European commission, the EU’s powerful executive arm, said investigators had found Gazprom significantly hindered competition in central and eastern European gas markets. ...
EU charges Gazprom with market abuse image
Source : BBC [Read Article] Wednesday 22nd of April 2015 10:19:14 AM
. The European Commission (EC) has charged Gazprom with abusing its dominant market position in Central and Eastern European gas markets. ...
Gazprom to face anti-monopoly charge image
Source : BBC [Read Article] Monday 20th of April 2015 08:07:58 PM
....Brussels began investigating Gazprom three years ago, but Moscow says the action is politically motivated. According to the Financial Times and several news agencies, the EU will officially complain that Gazprom is hindering competition in the central and eastern European gas markets, where the company benefits from a dominant position. ...
Shell agrees to buy rival BG Group - live reaction  image
Source : Telegraph [Read Article] Wednesday 8th of April 2015 07:20:07 AM
.... . Today's deal will substantially bolster Shell's presence in the world's liquefied natural gas market, says Biraj Borkhataria, analyst, RBC Capital Markets . ...
Weekly Money: Round-up of the personal finance stories you may have missed 2-6 February image
....The big energy companies are cutting gas prices but still overcharging consumers by £145 a year, analysis shows. Their recent flurry of price cuts are half as much as the savings they made in the wholesale gas market while energy firms are also accused of failing to pass on cuts to electricity bills despite being able to reduce electricity prices by 10 per cent. ...
Money roundup video: Energy bill rip-off and cut-priced insurance image
Source : Independent [Read Article] Tuesday 3rd of February 2015 04:03:39 PM
....The big energy companies are cutting gas prices but still overcharging consumers by £145 a year, analysis shows. Their recent flurry of price cuts are half as much as the savings they made in the wholesale gas market while energy firms are also accused of failing to pass on cuts to electricity bills despite being able to reduce electricity prices by 10 per cent. ...
Big Six customers 'overcharged by £2.9bn' image
Source : Independent [Read Article] Tuesday 3rd of February 2015 12:12:31 AM
....The big energy companies are cutting gas prices but still overcharging consumers by £145 a year, analysis shows. Their recent flurry of price cuts are half as much as the savings they made in the wholesale gas market while energy firms are also accused of failing to pass on cuts to electricity bills despite being able to reduce electricity prices by 10 per cent. ...
Source : Independent [Read Article] Wednesday 28th of January 2015 01:31:29 AM
.... . In a sweeping look at the European energy market, Credit Suisse yesterday said British Gas owner Centrica is “the only clear winner” in the gas market. ...
BHP Billiton cuts US shale operation as oil price falls image
Source : BBC [Read Article] Wednesday 21st of January 2015 10:58:51 AM
....". In 2011, BHP spent $20bn breaking into the shale oil and gas market buying Petrohawk Energy and Chesapeake Energy in Louisiana and Texas. ...
British Gas cuts household gas prices by 5 percent image
Source : Reuters [Read Article] Monday 19th of January 2015 11:58:23 AM
....Like E. ON, British Gas did not reduce its electricity prices, arguing that wholesale costs had not come down as much as in the gas market. ...
US oil production surge to break Saudi Arabia's grip on world energy image
Source : Telegraph [Read Article] Friday 7th of November 2014 10:07:50 AM
.... "As the unconventional oil and gas revolution spreads globally Opec’s pricing power will erode even further. In natural gas markets, also as outlined in this report, a similar result will ensue as natural gas’s price link to oil is likely to come to an end. ...
BG Group’s Egyptian woes image
Source : Daily Express [Read Article] Wednesday 29th of October 2014 12:00:00 AM
....5million “golden hello” pay package to revive its fortunes. Interim chairman Andrew Gould said: “We believe we have the best person in the oil and gas market to lead BG. ...
Oil slump leaves Russia even weaker than decaying Soviet Union  image
Source : Telegraph [Read Article] Wednesday 22nd of October 2014 07:48:47 PM
.... A transcript of their talk was leaked by the Kremlin, in order to embarrass Riyadh. It suggests that the prince offered Russia a deal to carve up global oil and gas markets, but only if it sacrificed Syria’s Assad regime. ...
Rolls-Royce shares tumble after profit warning image
Source : Guardian [Read Article] Friday 17th of October 2014 08:13:49 AM
....While the company’s direct exposure to Russia is limited (it made £114m in revenues there last year), the engines it supplies to clients count as dual use (military or civil) and are being held up by the trade sanctions. In addition, there has been a marked downturn in the offshore oil and gas market, with energy firms investing less because of the abundance of cheap shale gas in the US. ...
Expensive green energy a 'bad gamble' as ministers slash gas price forecasts image
.... . He said there was forecast to be “downward pressure on global gas markets in the second half of this decade as large sources of liquefied natural gas supply are due to come online during this period”. ...
Reserving gas for domestic users would hurt the renewable energy industry image
Source : Guardian [Read Article] Thursday 2nd of October 2014 03:51:26 AM
.... But while such a populist policy may have a marginal impact by lowering gas prices, it would do so by subsidising inefficient industries and reducing incentives for renewable energy. Back in March, I wrote how the opening of the eastern gas market to the world through the Gladstone port facility would increase gas prices for those living in the eastern states. ...
Big Six challenge watchdog’s approach to energy probe image
Source : Telegraph [Read Article] Sunday 24th of August 2014 08:46:31 PM
.... . They claim that the CMA is failing to give sufficient weight to the effects of Government intervention into the industry and are surprised the investigation does not cover the impact of the volatile wholesale gas market. ...
Romanian oil explorer Zeta Petroleum to launch on Aim image
Source : Daily Express [Read Article] Monday 11th of August 2014 12:01:00 AM
....36 billion cubic feet of gas. The company says Romania provides it with a “strong platform” to build an onshore oil and gas outfit in Europe, with its stable fiscal regime and a gas market which is being deregulated. ...
Energy probe should look at gas market too, warns MP image
Source : BBC [Read Article] Sunday 3rd of August 2014 11:04:57 PM
. The forthcoming competition inquiry into the UK's energy companies should also investigate the wholesale gas market, a senior MP has warned. ...
Russia sanction tension highlights Gazprom's growing role in Britain image
Source : Guardian [Read Article] Wednesday 30th of July 2014 02:48:08 PM
....At the time the gas distribution business employed just 12 people and supplied a handful of clients. But it was quickely re-branded and has since become a major player in the UK's commercial gas market, operating from impressive steel and glass offices in the commercial heart of Manchester, employing around 250 staff and increasing the volume of its gas sales in the UK by 500%. ...
New Centrica boss to get up to £3.7m in pay and shares image
Source : Guardian [Read Article] Tuesday 29th of July 2014 06:09:00 PM
....Centrica chairman Rick Haythornthwaite paid tribute to Laidlaw, saying he had shown exceptional leadership over the past eight years. "Under his stewardship Centrica has achieved strength and scale which is of great benefit to the UK as we secure the future energy needs of our customers in an increasingly international gas market. ...
Centrica appoints Iain Conn as chief executive with £3.7m pay package image
Source : Telegraph [Read Article] Tuesday 29th of July 2014 03:51:23 PM
.... "Sam has shown exceptional leadership over the past eight years. Under his stewardship Centrica has achieved strength and scale which is of great benefit to the UK as we secure the future energy needs of our customers in an increasingly international gas market," he said. ...
How to invest like Jim Slater – and beat the market by a factor of 20 image
.... Pressure Technologies is an engineering company that specialises in high-pressure devices. A boom in the deep-water oil and gas market could boost sales; the Slater Growth fund is a buyer. ...
Commodities: Europe will suffer if we hinder the flow of energy price information image
.... The G7 group of nations has addressed energy security concerns and concluded that the path to greater energy security should be guided by seven core principles. The first of these was identified as “the development of flexible, transparent and competitive energy markets, including gas markets”. ...
Russia-China gas deal could ignite a shift in global trading  image
Source : Telegraph [Read Article] Saturday 24th of May 2014 08:00:41 PM
.... Over the past four years, Russia has exported an annual average of no less than 160bcm to Europe, more than two and a half times what will go to China, even under the enhanced double-pipeline version of this last Sino-Russia gas deal. Russia needs the European gas market — and that should be borne in mind, whatever is said by sabre-rattling Western politicians and domestic fracking lobbyists. ...
Russia and China agree $400bn natural gas supply deal image
Source : Guardian [Read Article] Friday 23rd of May 2014 04:31:15 PM
...."Literally a day ago a really historical event took place, an epoch-making event. We, Russia and Gazprom, have discovered the Asian gas market for ourselves," Gazprom chief executive Alexei Miller said at the St Petersburg International Economic Forum. ...
Vladimir Putin's biggest coup has come in China image
Source : Telegraph [Read Article] Wednesday 21st of May 2014 07:42:37 PM
.... . However, by opening up access to potentially the world’s biggest energy market in Asia by 2018, Mr Putin has also set in motion a potentially profound change in global gas markets. ...

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