LONDON, Sept 12 (Reuters) – Scotland will ask Britain to
help finance the cost of removing old North Sea rigs and
pipelines even if it votes for independence and gains most of
the oil revenues, a move that bankers and lawyers say may result
in years of legal battles.
An independent Scotland would benefit from most of the new
revenues from North Sea oil output – worth $50 billion a year –
but it will nevertheless ask Britain to co-finance some $60
billion of decommissioning to remove old platforms and
LONDON, Sept 12 (Reuters) – Brent crude oil held above $98 a
barrel on Friday as the market rebounded from a two-year low but
concerns over weak demand and plentiful supplies, plus a strong
dollar, continued to weigh on prices.
Brent futures have sold off hard this week, and hit a
two-year low on Thursday at $96.72 a barrel.
London, Sept 2 (Reuters) – Brent crude dipped below $102 a
barrel on Tuesday, pressured by worries about slowing oil demand
growth in China and Europe, a strong U.S. dollar and ample
Brent crude for October delivery was down 87 cents
at $101.91 a barrel at 0906 GMT after falling more than a dollar
in early London trading to an intraday low of $101.76.
LONDON, Aug 22 (Reuters) – Britain’s oil industry is facing
the threat of a cascade of North Sea rig closures, unless ageing
platforms can urgently source more gas to help squeeze out the
The potential threat to oil revenues looms as Scotland
prepares to vote in September’s independence referendum — a
debate in which oil production forecasts have become a political
LONDON, Aug 22 (Reuters) – Brent crude oil futures drifted
lower on Friday, further below $103 a barrel, as a strong dollar
and plentiful supplies continued to pressure prices.
October Brent crude was down 16 cents to $102.47 a
barrel by 0829 GMT. U.S. crude was down 34 cents at
$93.62 a barrel.
LONDON, Aug 20 (Reuters) – Oil traders have begun fixing
tankers to take North Sea, West African and Arab crudes to South
Africa for storage, hoping for a repeat of the multi-million
dollar bonanza they reaped in 2008-2009.
Shipping fixtures show that in late July and August, BP
, Mercuria, Total and Chevron all booked
suezmaxes to deliver crude to South Africa, with traders saying
that a good number of these barrels will go into storage.
MONROVIA/GENEVA (Reuters) – Liberia battled on Tuesday to halt the spread of the Ebola disease in its crowded, run-down oceanside capital Monrovia, recording the most new deaths as fatalities from the world’s worst outbreak of the deadly virus rose above 1,200.
The epidemic of the hemorrhagic disease, which can kill up to 90 percent of those it infects, is ravaging the three small West African states of Liberia, Sierra Leone and Guinea, and also has a toehold in Nigeria, Africa’s biggest economy.
LONDON (Reuters) – Diversified commodity exchange-traded products (ETPs) attracted strong inflows in July as a pick-up in economic growth in China and the United States encouraged investors to return to the unloved asset class.
Investors injected $936 million into broad-basket commodity ETPs last month – the biggest inflow for this segment in three years, data from asset manager BlackRock showed.
CAMBRIDGE England (Reuters) – “This is my Aunty Molly’s coat,” Scottish singer-songwriter Eddi Reader, resplendent in a vintage gold-colored jacket, told the crowd at the Cambridge Folk Festival. “She was 97 when she died. I like having her on stage with me.”
Reader, who played two sets at the folk festival’s 50th anniversary last weekend, charmed festival-goers as much with her wit as her diverse repertoire.
CAMBRIDGE (Reuters) – When Cambridge City Council decided to hold a music festival in the historic English university town back in 1964, few expected it to be going strong 50 years later.
But this year the Cambridge Folk Festival is celebrating its golden anniversary in style with headliner Van Morrison – who had to be courted for years before he agreed to attend – as well as Roseanne Cash and Sinead O’Connor.