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Tag Archives: britain

A big gain for stocks at the end of a turbulent quarter

NEW YORK (AP) — U.S. stocks rose across the board Wednesday following big gains in Asia and Europe, a buoyant end to the worst quarter for the market in four years. From worries over a slowing Chinese economy, uncertainty over interest rates and a scary slide in commodity prices, stocks have been hit with one blow after another in the ...

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EU regulators clear Shell’s takeover of BG Group

shell

LONDON – Royal Dutch Shell gained EU approval on Wednesday for its $70 billion acquisition of Britain’s BG Group, the second of four key markets needed to clear the deal. The European Commission said the transaction would not grant Shell market power in oil and gas exploration, the liquefaction of gas and the wholesale supply of liquefied natural gas. The ...

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Britain’s new government set to kick-start shale ambitions

LONDON – Britain’s new Conservative government could take control of planning decisions to speed up the development of shale gas and prevent investor money from drying up, lawyers say. Britain is estimated to have enough shale gas trapped below its surface to meet its gas needs for decades. But deployment of the controversial fracking technology required to release gas trapped ...

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Statoil slashes costs and investment as low oil prices weigh

LONDON, Feb 6 – Norwegian oil company Statoil vowed to protect dividend payments and said it was braced for a long period of depressed crude prices as it set out plans on Friday to slash costs and cut investment. With oil prices falling by more than half since June, oil companies from BP to Chevron have been slashing costs, delaying ...

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BP: Restructuring to cost $1 billion in next year

LONDON — Oil giant BP has warned that plans to streamline its business will cost it $1 billion over the next year. The changes are part of the company’s move to downsize and simplify its operations after $43 billion worth of divestments since the 2010 Gulf of Mexico oil spill. Chief Executive Bob Dudley said Wednesday that the company continues ...

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Offshore wind industry races to cut costs as subsidies drop

OFF THE COAST OF HELIGOLAND, Germany, Nov 14 – As European governments start to curb offshore renewable power subsidies, utilities, wind turbine makers and installers are racing to cut costs to help the industry survive. Britain, Germany and the Netherlands, wary of committing billions of euros when budgets are tight, have announced subsidy cuts in the past 18 months – ...

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Energy boss: Britain must be convinced on fracking

Jon Rees | Daily Mail (London) The energy industry has failed to convince the public that the controversial process of fracking is vital for Britain, the industry’s leader Angela Knight has admitted as she prepares to step down from the high profile job. Knight, chief executive of the Energy Association, said the industry must continue to make its case or risk ...

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