After two weeks of watching the oil price in free fall, investors now want to know what the repercussions will be. Global giants such as Saudi Aramco, Chevron and BP have said they will need to cut spending. But traders’ eyes turned to the North Sea yesterday, after industry body Oil & Gas UK warned … Read more
Oil companies were hammered as the price of crude slumped below $30 a barrel. Shares in Shell and BP – two of the largest firms listed on the London Stock Exchange – slid as oil prices edged towards lows they last touched during a major commodity crisis four years ago. The oil market had already … Read more
Aramco to cut spending by 25% as oil prices plummet – but it will still fork out £3.2bn in dividends Saudi Aramco racked up costs of almost £27bn last year, but could cut to £20bn The state-backed energy giant went public in December in the biggest ever float It will pay £3.2bn in dividends for … Read more
Tullow Oil slashes workforce as it reveals recent oil price rout could sink it By Daily Mail City & Finance Reporter Published: 23:17 GMT, 12 March 2020 | Updated: 23:17 GMT, 12 March 2020 Tullow Oil’s future was in doubt last night it revealed that the recent oil price rout could sink it. The energy … Read more
Anxiety sufferers should be given lavender oil as a first line of treatment instead of addictive drugs, a psychiatrist has claimed. Professor Hans Peter-Volz said doctors are too quick to dish out benzodiazepines and other drugs to patients with anxiety. Instead, patients with a mild form of the disorder should be given natural remedies, including … Read more
Oil price slump will wipe out North Sea tax revenues, says the Treasury watchdog By Daily Mail City & Finance Reporter Published: 21:59 GMT, 11 March 2020 | Updated: 22:29 GMT, 11 March 2020 The slump in the oil price could almost wipe out tax revenues from the North Sea, according to the Treasury watchdog. … Read more
Outrage after Saudi Arabia’s state oil firm forces worker to dress up as a human hand gel dispenser Images shared online show Saudi Aramco worker dressed as hand gel dispenser Act criticised with social media users saying it is ‘humiliating’ and ‘disgusting’ Firm said practice ‘immediately’ stopped and measures taken to prevent repeat By Faith Ridler … Read more
With markets opening on Monday morning to the biggest crash in oil price since the 1991 Gulf War, the big question for motorists is: will the cost of petrol drastically fall in the coming days? The price of Brent crude fell from $52 a barrel this time last week to as little as $35 this … Read more
Futures on the Dow Jones Industrial Average tumbled 1,000 points in early trading Sunday night amid a price war over crude oil, marking the greatest plunge in oil markets since the Gulf War in 1991. Oil prices plunged 30 percent after the start of electronic trading late Sunday, pointing to a more than 1,000-point loss … Read more
The £300bn coronavirus crash: FTSE down 12.7%, oil down 23% while US 10-year bond yields are down 51% in just TWO weeks By Hugo Duncan for the Daily Mail Published: 21:51 GMT, 6 March 2020 | Updated: 21:51 GMT, 6 March 2020 More than £300billion has been wiped off the value of Britain’s leading companies … Read more