News

Fourth quarter profits declined to $2.1 billion from $7.3 billion a year earlier

KKR lifeline buys time for Coryton

Kohlberg, Kravis & Roberts (KKR), the US buyout firm, threw a lifeline to the Coryton refinery in Essex yesterday, striking an agreement that will keep it in business for the next three months.

You may strike it rich playing oil explorer roulette

Investment Insider

Sudden spike in price of crude oil raises costs for manufacturers

A sudden spike in crude oil pushed up manufacturers' costs in January, giving the Bank of England a fresh inflation warning a day after it voted to pump an extra £50bn into the struggling UK economy.

Gas price fall sees BG slash fracking in US

BG Group is dramatically scaling back plans to employ the controversial practice of "fracking" for shale gas in the US.

Gas price at a six-year high

Wholesale gas prices touched a six-year high of £1 a therm yesterday as the big freeze showed no sign of letting up in Britain and across Europe.

Europe is too emotional about fracking, says Shell chief

Shell's chief executive, Peter Voser, called on Europe for a less "emotional" response to fracking, as he outlined plans to accelerate the oil giant's use of the controversial technology used to release hydrocarbons from rocks.

Over 40 interested in Coryton refinery

Administrators to an oil refinery which went bust have received over 40 expressions of interest from companies around the world, the Government announced today.

Shetland oil drilling contract agreed

Oil giant BP has announced a multimillion-pound contract with a specialist offshore engineering firm for the second phase of a massive project off the Shetland Islands.

Shell profits soar to £18bn

Oil giant Royal Dutch Shell today reported profits of 28.6 billion US dollars (£18.1 billion) for 2011, a jump of 54 per cent on a year ago.

BP deal keeps Coryton in operation

BP threw a lifeline to Coryton yesterday, striking a deal that allowed the bankrupt oil refinery to buy a fresh cargo of crude that will keep it running for a few more days.

Rescue workers search for victims after a building collapsed near the Municipal Theater in Rio de Janeiro

Three bodies found after building collapses in Rio de Janeiro

Three bodies were pulled from the rubble of three collapsed buildings, an official with the Rio de Janeiro Fire Department said. Another 21 people were still missing after the buildings went down in the city's historic center.

Margareta Pagano: Straits stand-off could sink fragile growth in Europe

Midweek view: Saudi Arabia and Israel, for different reasons, hate Iran, while the US hawks want regime change in the country

Motorists face record fuel prices as refinery goes into administration

Motorists are bracing for record fuel prices after London's biggest oil refinery went bust yesterday, putting about 1,000 jobs at risk.

Leading article: We want a deal with Iran, not a war

The decision yesterday by the European Union to ban imports of Iranian oil from July has sparked renewed threats from Tehran to close the Strait of Hormuz. It makes even more perilous a confrontation that could yet lead to war, even before a Western attack on Iran's nuclear facilities.

Cairn calls up Statoil for Arctic quest

Cairn Energy, the explorer whose bid to find commercial quantities of oil in Greenland has been a consistent disappointment, has brought in Norway's Statoil as a partner to help with the next phase of Arctic exploration.

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