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Latest Finance News related to Oil Giant

Exxon fined $2m for violating Russia sanctions while Rex Tillerson was CEO image
.... And it said the company’s “senior-most executives” were aware of the sanctions when two of its subsidiaries signed deals with the Russian oil magnate Igor Sechin. Sechin is the chairman of the Russian oil giant Rosneft and is on a US blacklist that bars Americans from doing business with him. ...
Nigeria: Ogoni widows sue Shell over military crackdown image
Source : BBC [Read Article] Thursday 29th of June 2017 12:23:33 PM
. The widows of four men executed by Nigeria's military regime in 1995 are suing oil giant Shell for alleged complicity in a military crackdown. ...
Brazil's stock market plunges after corruption claims image
Source : BBC [Read Article] Thursday 18th of May 2017 04:31:38 PM
....Mr Cunha was jailed for 15 years in March for corruption, money laundering and tax evasion, as part of a major investigation dubbed Operation Car Wash. The probe, launched in March 2014, centres on companies that were offered deals with state oil giant Petrobras in exchange for bribes, which were funnelled into politicians' pockets and political party slush funds. ...
Chapter closed? image
Source : BBC [Read Article] Friday 12th of May 2017 07:01:27 AM
.... . After two long years of investigations, a massive probe into bribery at state oil giant Petrobras is finally reaching its pinnacle this year. ...
FTSE 100 lifted by HSBC and Shell results image
Source : BBC [Read Article] Thursday 4th of May 2017 08:36:35 AM
In the small print image
Source : BBC [Read Article] Wednesday 26th of April 2017 03:35:41 PM
.... . For example, oil giant ExxonMobil has said it generally supports "comprehensive review", but opposes increases on the oil and gas industry, which currently benefit from some types of business deductions. ...
Next slashes Wolfson's pay by half after profits slide image
Source : BBC [Read Article] Tuesday 18th of April 2017 06:35:51 PM
....7m (£3m). The oil giant took the decision to stave off a possible shareholder rebellion over ever-increasing pay for its top executives. ...
Shell move 'could be in breach of international law' image
Source : BBC [Read Article] Monday 10th of April 2017 04:00:34 AM
.... . The oil giant lodged plans to decommission the Brent field with the UK government in February. ...
Ghetto city image
Source : BBC [Read Article] Tuesday 4th of April 2017 11:16:43 PM
....The next step for GravityLight will be to test an assembly line in Kenya to manufacture its product and work with local distribution networks and communities to create jobs. GravityLight, like Pavegen, is one of seven green energy ideas being supported by oil giant Shell. ...
BP in talks with Ineos over Forties pipeline sale image
Source : BBC [Read Article] Friday 17th of March 2017 11:56:25 AM
....BP and Ineos did not give further details about the discussions, citing commercial confidentiality. In a statement, the oil giant said: "BP can confirm it is in discussions with Ineos regarding a potential sale of the Forties Pipeline System. ...
Brazil prosecutor targets politicians in Petrobras scandal image
Source : BBC [Read Article] Tuesday 14th of March 2017 11:19:32 PM
. Brazil's top prosecutor has asked the Supreme Court to open 83 new investigations into politicians as part of a long-running corruption probe involving state oil giant Petrobras. ...
Shell’s sale of dirty tar sands assets cleans up debt and spruces image image
.... Norwegian oil company Statoil completed the sale of its tar sands assets in January, and France’s Total has sold some of its holdings. US oil giants Chevron and Exxon both downgraded their tar sands reserves because of historically low oil prices that have further reduced the profitability of such a cost-intensive asset. ...
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....Britain’s commitment to tackling high-end money laundering through the City of London is under serious scrutiny after it emerged that regulators appear to have waved through an $800m bank transfer to a convicted criminal as the proceeds from one of the most corrupt deals in the history of the oil industry. A joint investigation by the Observer and journalists from Finance Uncovered, a non-profit organisation based in London, has discovered that prosecutors in Milan believe two payments of $400m each were wired through JP Morgan in London as the spoils of a huge deal to develop a Nigerian oilfield involving Shell, its joint venture partner the Italian oil giant Eni, and the government in Abuja. ...
‘Shell knew’: oil giant's 1991 film warned of climate change danger image
Source : Guardian [Read Article] Tuesday 28th of February 2017 05:45:19 AM
. The oil giant Shell issued a stark warning of the catastrophic risks of climate change more than a quarter of century ago in a prescient 1991 film that has been rediscovered. ...
Rex Tillerson eyes $180m payout to cut Exxon ties image
Source : BBC [Read Article] Wednesday 4th of January 2017 08:19:02 PM
....Mr Tillerson left Exxon on 31 December. The payout, which will only take place if Mr Tillerson is confirmed in the new role, is aimed at addressing concerns the former Exxon executive could favour the oil giant, or his own interests while in office. ...
BP fills up with $1.3bn Australian petrol station deal image
Source : BBC [Read Article] Wednesday 28th of December 2016 02:46:00 PM
....The move follows the success of BP's Simply Food forecourt chain in the UK, which it runs with Marks & Spencer. There are 248 Simply Food at BP stations in the UK, while the oil giant plans to open 50 more in 2017. ...
FTSE recovers to close above 7,000 level image
Source : BBC [Read Article] Monday 19th of December 2016 09:21:07 AM
....Analysts at Berenberg cut its rating on the company to "hold" from "buy". Shares in oil giant BP were up 0. ...
Donald Trump faces Senate backlash over ‘cabinet of billionaires’ image
Source : Guardian [Read Article] Sunday 18th of December 2016 12:04:36 AM
....As well as a phalanx of Democrats, leading Republican senators Marco Rubio and Lindsey Graham, and John McCain, the chairman of the Senate armed services committee, have raised concerns about Tillerson’s close relationship with Vladimir Putin and conflicts of interest arising from Exxon’s interests in Russia. Tillerson, 64, who has spent his whole career at the oil giant, was awarded Russia’s Order of Friendship in 2013 after he agreed a deal with the state-owned oil company Rosneft, run by Putin lieutenant Igor Sechin. ...
Palm oil giant Olam accused over sourcing image
Source : BBC [Read Article] Monday 12th of December 2016 11:54:03 AM
. Palm oil giant Olam has been accused of using suppliers that may use unsustainable practices in parts of Southeast Asia. ...
FTSE 100 lower as oil stocks fall image
Source : BBC [Read Article] Tuesday 29th of November 2016 09:04:20 AM
....52 a barrel on worries that oil producers would fail to agree limits on output. Shares in oil giants BP and Royal Dutch Shell were both down by about 2%. ...
FTSE 100 ends flat despite good gains for miners image
Source : BBC [Read Article] Monday 21st of November 2016 09:38:31 AM
....62 a barrel. In response, shares in oil giant BP rose 2% while Royal Dutch Shell was also up by about 1. ...
Russian Economy Minister Ulyukayev charged with $2m bribe image
Source : BBC [Read Article] Tuesday 15th of November 2016 02:31:26 AM
....Mr Sechin has made no public comment on the issue. It was only in October that Rosneft, an oil giant controlled by the Russian government, bought 50% of Bashneft for 330bn roubles ($5bn). ...
Rosneft reports plunge in profits image
Source : BBC [Read Article] Friday 11th of November 2016 08:37:25 AM
....7m; £318m), which was much lower than expected. UK oil giant BP owns 20% of Rosneft. ...
Petrobras racks up massive losses due to write-offs image
Source : BBC [Read Article] Friday 11th of November 2016 02:37:48 AM
. Brazil's state oil giant Petrobras has reported a massive loss for the third quarter of its financial year. ...
Lost riches image
Source : BBC [Read Article] Thursday 27th of October 2016 11:07:39 PM
.... So places like Macae are home to a large number of people who work on the offshore oil platforms and drilling ships. Since the 1970s, when Brazil's state oil giant Petrobras started its offshore operations here, this sleepy fishing town has seen an influx of highly skilled workers, such as engineers, chemists and professional divers. ...
Petrobras boss says oil firm can find its 'best days' again image
Source : BBC [Read Article] Friday 21st of October 2016 08:20:28 AM
. Pedro Parente, chief executive of Petrobras, says the Brazilian oil giant will return to its best days in five years' time - once he implements new governance and business measures. ...
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Brazil political crisis: Senators vote to put suspended president Dilma Rousseff on trial 
 image
....Rousseff rode Lula's coattails to power when term limits forced him to step down in 2011. Brazil's booming economy later sank into its worst recession in 80 years and a huge corruption scandal erupted at state oil giant Petrobras. ...
FTSE 100 falls as Lloyds and Shell shares hit image
Source : BBC [Read Article] Thursday 28th of July 2016 07:54:52 AM
BP profits hit by lower oil price image
Source : BBC [Read Article] Tuesday 26th of July 2016 07:24:34 AM
. Second-quarter profits at oil giant BP have almost halved from a year earlier as the company suffered from lower oil prices and weak refining margins. ...
City news: Shell, Odeon, Model agencies and Dixons Carphone image
Source : Daily Express [Read Article] Thursday 26th of May 2016 08:13:00 AM
. The latest cull brings the number of staff and contractor roles being shed by the oil giant from the start of 2015 to the end of this year to 12,500, including 2,800 as a result of its £35billion takeover of BG Group. ...
Huge profits in store for firm that can make a great leap in battery technology image
.... Smartphones barely last a day, electric vehicles have much shorter ranges than petrol or diesel cars, and storing energy from sources such as solar panels is difficult. A breakthrough in energy storage is sorely needed, and many companies, including some of the oil giants, are working on it. ...
Shell working to repair leak that spilled 2,000 barrels of oil into Gulf of Mexico image
....Shell’s platform, called Brutus, started operation in 2001. The oil giant has been given permission by the BSEE to resume its operations in the gulf. ...
Bill  and Melinda Gates Foundation divests entire holding in BP image
Source : Guardian [Read Article] Thursday 12th of May 2016 11:35:34 AM
. The Bill and Melinda Gates Foundation has sold off its entire holding in oil giant BP, in a move welcomed by fossil fuel divestment campaigners. ...
Saudi Arabia appoints Khalid al-Falih as new oil minister image
Source : Guardian [Read Article] Sunday 8th of May 2016 01:40:25 PM
....Related: Saudi Aramco – the $10tn mystery at the heart of the Gulf state. Salman placed Falih, the chairman of state oil giant Saudi Aramco, to head an expanded energy, industry and mineral resources portfolio. ...
Three more companies face shareholder wrath over executive pay image
Source : Guardian [Read Article] Thursday 5th of May 2016 04:54:20 PM
....At construction firm Carillion, 46% of shareholders failed to back its remuneration report, including abstentions. The trio are the latest high-profile companies to face the wrath of shareholders, after huge rebellions at oil giant BP, drugmaker Shire and others. ...
City News: Wonga, Sportech, Shell, Barclays image
Source : Daily Express [Read Article] Wednesday 4th of May 2016 11:14:00 PM
....SHELL will speed up cost savings from its recent £35billion takeover of BG Group as plunging oil prices ate into profits. The oil giant, which posted a 58 per cent drop in quarterly earnings to $1. ...
Oil prices puts BP in the red image
Source : Daily Express [Read Article] Wednesday 27th of April 2016 07:56:00 AM
. The oil giant fell $485million (£332million) into the red compared with a £1. ...
Blue chip CEOs in the firing line image
Source : Daily Express [Read Article] Sunday 24th of April 2016 02:55:00 PM
....Over the coming weeks, investors are preparing to show their anger over pay at a raft of blue chip companies including Reckitt Benckiser, Weir, Shire and Standard Chartered. This comes after miner Anglo American and oil giant BP suffered bruising encounters with investors over payouts to their chief executives. ...
Times are hard for bankers – but they did nearly bankrupt the planet image
....0. After the revolts over pay at oil giant BP, medical equipment group Smith & Nephew and miner Anglo American, this week the City’s troublemakers are looking forward to fixtures at pharmaceutical groups Shire and AstraZeneca, plus the fund manager Schroders, where scraps are almost guaranteed for different reasons. ...
Sir Martin Sorrell defends £63m pay package ahead of AGM image
Source : Guardian [Read Article] Sunday 17th of April 2016 11:01:01 PM
....The AGM season has started with several rebellions against pay. On Thursday, almost 60% of BP shareholders rejected the oil giant’s remuneration report, which awarded boss Bob Dudley £14m. ...
How did Panama become a tax haven? image
Source : BBC [Read Article] Tuesday 5th of April 2016 02:24:18 PM
....But what makes Panama different from other low or no-tax jurisdictions and how did it become this way?. According to a 2013 academic study published by the Norwegian Center for Taxation, the history of Panama as a tax haven began in 1919 when it started to register foreign ships to help American oil giant Standard Oil escape US taxes and regulations. ...
Commodity shares drag FTSE 100 lower image
Source : BBC [Read Article] Tuesday 5th of April 2016 08:34:27 AM
Shell Nigeria deal probed in Italy image
Source : BBC [Read Article] Thursday 31st of March 2016 12:21:24 AM
....Italian prosecutors are investigating Royal Dutch Shell as part of a probe into the acquisition of a Nigerian oil field, the firm has said. The oil giant said it was cooperating with the authorities. ...
Nigeria state oil firm 'withheld $25bn' image
Source : BBC [Read Article] Tuesday 22nd of March 2016 11:22:33 AM
....Under the current set-up, the NNPC hands over its oil revenue and money is then paid back based on a budget approved by parliament. The state oil giant has been mired in corruption allegations and losing money for many years. ...
Three London museums totalled more visitors than Venice in 2015 image
Source : Guardian [Read Article] Monday 7th of March 2016 12:01:48 AM
.... For the final two weekends the museum opened through the night for the first time in its history to accommodate extra demand. Despite controversy over its sponsorship by oil giant BP, the British Museum continued to be the most popular attraction overall for the ninth year running with 6. ...
Nigeria to break up state oil firm image
Source : BBC [Read Article] Thursday 3rd of March 2016 06:24:11 PM
. Nigeria's loss-making state oil giant is to be broken up into 30 "profit-making" companies, the government says. ...
The oil crisis makes a compelling case for women's equality in Saudi Arabia image
Source : Guardian [Read Article] Thursday 25th of February 2016 08:26:01 AM
....The largest of these compounds are as big as small cities. Within the walls of the compound of Saudi Aramco, the oil giant that is estimated to be the world’s most valuable company, I saw women and men behaving freely, much as they do in other more liberal Arab nations. ...
Why Cameron tussled with the French over the City image
Source : Telegraph [Read Article] Monday 22nd of February 2016 09:08:32 AM
.... The simplest answer is probably the best – London is where the action is. In 2013, Total moved tens of staff to London because, according to the French oil giant’s own calculations, 95pc of those who analysed or invested in it were based there. ...
Oil and gas producers ‘in distress’ as low oil price pain continues image
Source : Guardian [Read Article] Saturday 20th of February 2016 10:00:45 AM
....6% of the companies in its distressed category. The oil giants themselves are not immune to debt downgrades, which can raise their borrowing costs. ...
Oil prices crash after Saudis dash hope of production cut image
Source : Telegraph [Read Article] Thursday 18th of February 2016 05:20:59 PM
.... . Mr al-Jubeir's comments come after days of back-door diplomacy between the oil giant and its biggest non-Opec rival, Russia. ...
Oil prices soar as Iran comes to the table sending FTSE back through 6,000  image
Source : Telegraph [Read Article] Wednesday 17th of February 2016 09:25:23 AM
.... It’s just a question of when • Shock Russia-Saudi oil deal sends Brent plunging and stalls FTSE rally • Oil prices crash after Saudis fail to broker global production cut • China stocks hits three-week high on stimulus hopes • Japanese stocks fall as yen strengthens • FTSE posts fourth straight day of gains for first time in 2016 • Iran welcomes Saudi-Russian oil freeze deal but remains cool on production cut . Electrocomponents was among the frontrunners on the mid-cap index, while mining and oil giants lifted the FTSE 100 to a two-week high. ...
Oil prices crash after Saudis fail to broker global production cut image
Source : Telegraph [Read Article] Tuesday 16th of February 2016 07:35:48 AM
.... . But the announcement to simply cap production indicated the world's oil giants were still not willing to step back from the record supply glut that has hit more than a million barrels a day since the end of 2014. ...
Big mining finds what goes up must come down image
Source : Guardian [Read Article] Thursday 11th of February 2016 07:50:41 PM
.... At least shareholders will know payments will always be made from earned profits. The UK’s twin oil giants – BP and Shell – still see life differently and are desperately trying to cling to their dividends out of loyalty to shareholders. ...
When will oil prices go back up?  image
Source : Daily Express [Read Article] Thursday 11th of February 2016 01:09:00 PM
...."With the market already awash in oil, it is very hard to see how oil prices can rise significantly in the short-term," the IEA said in February. Global oil giants, including BP and Royal Dutch Shell, have predicted that oil prices will rise this year. ...
Russian oil giant hits out at Opec price war image
Source : Telegraph [Read Article] Wednesday 10th of February 2016 04:30:14 PM
Betting on an oil recovery? Here are three ways to gain if the price bounces image
.... . Investors with exposure to the FTSE 100 will already hold a fair share of the two UK oil giants and will have suffered as the price of the commodity has fallen. ...
Total begins first gas production from West of Shetland image
Source : Telegraph [Read Article] Monday 8th of February 2016 01:11:51 PM
.... . The project is a key component of the French oil giant’s portfolio and is the first time that gas will be recovered from the edge of the UK continental shelf, where water depths descend rapidly from an average of 400ft to 2,000ft. ...
Shell sees 80% drop in profits due to weak oil prices image
Source : Daily Express [Read Article] Thursday 4th of February 2016 05:57:00 PM
....Earnings dropped to $3. 8billion from just over $19billion in 2014 as Shell became the latest oil giant to count the cost of a 70 per cent slide in crude prices to $35-a-barrel over the past 18 months. ...
VIDEO: Oil price: 'low for some time' image
Source : BBC [Read Article] Thursday 4th of February 2016 11:29:16 AM
.... The company had already warned that thousands of jobs would go as a result of its proposed takeover of BG. Earlier in the week rival oil giant, BP, announced a profits slump of 51% to $5. ...
Questor share tip: Sell BP shares as oil price heads lower image
Source : Telegraph [Read Article] Tuesday 2nd of February 2016 06:14:30 PM
Exxon Mobil quarterly profits drop 58% image
Source : BBC [Read Article] Tuesday 2nd of February 2016 02:38:30 PM
. US oil giant Exxon Mobil has said its profits fell 58% to $2. ...
BP in crisis as profits collapse amid crashing oil prices image
Source : Daily Express [Read Article] Tuesday 2nd of February 2016 12:57:00 PM
. The oil giant, which maintains many British pension funds, lost £1. ...
Oil giants' woes drag down FTSE 100 image
Source : BBC [Read Article] Tuesday 2nd of February 2016 08:34:12 AM
. (Close): London's leading shares fell in Tuesday morning trading, as poor results from oil giants weighed on the market. ...

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