Eni SpA, Italy’s largest oil company, will invest $12 billion to boost its Egyptian natural gas operations over the next five years, Egypt’s oil ministry said Thursday.
Egypt, with proven gas reserves of 58.5 trillion cubic feet, or 1% of world stocks, is a key energy supplier to the Mediterranean rim countries and the Levant.
Eni also [...]
The FTSE 100 index edged lower by mid-session on Friday after hitting a new six-year closing high in the previous session, as mining and oil stocks were weighed down by weaker commodity prices.
Oil stocks led the FTSE 100 losing sector with crude prices easing below $58 a barrel as some investors focussed on forecasts [...]
European equities hit fresh six year highs on Monday as firming commodity prices helped lift oil stocks, miners and industrial metals groups, while strong sales helped Swiss watchmaker Swatch.
By late morning in London, the FTSE Eurofirst 300 was up 0.4 per cent to 1,525.5, Frankfurt’s Xetra Dax added 0.2 per cent to 6,758.26, the CAC [...]
European equities moved higher by lunchtime on Thursday, helped by strength in the oil, financials, travel and media sectors, on a busy day for corporate earnings releases.
The FTSE Eurofirst 300 rose 4.6 points, or 0.3 per cent, at 1,514.98 while the German Xetra Dax added 20.2 points, or 0.3 per cent, at 6,721.8 and the [...]
On Thursday morning, the stocks in Australian market opened strongly, led by oil stocks such as Woodside Petroleum and Santos, and mining stocks such as BHP Billiton, following a drop in price of crude oil futures in the International markets. Strength in the resource stocks, assisted by banking and retail stocks, is driving the local [...]
Russia and Belarus sought Tuesday to resolve a damaging trade battle that has led Moscow to halt oil supplies to several EU nations via Belarus, causing fresh alarm in Western Europe over its reliance on Russian energy.
A delegation led by Vice-Premier Andrei Kobyakov flew to Moscow on Tuesday to find a solution to the halt [...]
Patient investors in oil and gas buy recommendations ought to be well rewarded should our vision of $150 a barrel for light, sweet crude oil in 2010 materialize. Even today’s futures price of $67 for 2010 implies an attractive outlook for oil stocks, natural gas futures and natural gas stocks. Considering that a McDep [...]
Oil prices fell slightly todayafter suffering the biggest one-day fall for more than a year yesterday.
New York’s main contract, light sweet crude for delivery in December, fell 11 cents to 58.25 dollars per barrel in electronic deals before the official opening of the US market Tuesday.
In London, Brent North Sea crude for December delivery dipped [...]
European energy stocks, the worst- performing shares in the past three months, gained after crude prices rebounded. BP Plc and Royal Dutch Shell Plc, the region’s largest oil companies, paced the advance.
“We are still positive on oil stocks despite the recent correction in the oil price,” said Sergi Martin, who helps oversees $5.3 billion at [...]
European energy and mining stocks, the region’s worst performers in the past three months, rose as a cut in oil output and a nuclear detonation in North Korea lifted commodity prices. BP Plc and Rio Tinto Group paced the advance.
“With oil ticking up and metal prices higher, there might be a new window in the [...]
