Finance

Brazil Prosecutors Charge Lula's Former Chief of Staff

Former Brazilian President Luiz Inacio Lula da Silva's ex-chief of staff was charged with corruption, money laundering and racketeering on Friday, making him one

Imtech Germany to Be Sold in November

The German unit of bankrupt Dutch engineering services company Imtech is expected to be sold in November, according to Imtech Germany's insolvency administrator.

US Oil Drillers Cut Rigs as Crude Prices Collapse

U.S. energy firms cut a surprisingly sharp 13 oil rigs this week, the first drop in seven weeks, as a renewed slump in prices this summer forced drillers to make a second round of cut-backs.

Conoil's 2014 Pretax Profit Falls 66.5%

Nigerian fuel retailer Conoil's 2014 full-year pretax profit fell 66.5 percent to 1.53 billion naira ($7.7 million), it said on Friday.   Turnover fell 19.5 percent to 128.

BP Shares at Risk from M&A Temptation

BP will need to buy oil and gas fields to offset falling production, which could lead it to issue equity to raise funds, Bank of America Merrill Lynch (BAML) said on Friday,

Venezuela's Maduro in Qatar to Push for "Solid" Oil Prices

Venezuelan president Nicolas Maduro arrived in fellow OPEC nation Qatar on Friday in an unannounced visit to push for action on oil prices. "The President of the Republic,

Minesto Announces Management Appointments

Minesto, developer of the Deep Green marine energy power plant, announced that Fredrik Ahlström has been named Minesto’s Chief Financial Officer, succeeding CFO

Eni in touch with Italy State Holding Over Saipem

Italian oil and gas group Eni is in touch with cash-rich state holding Cassa Depositi e Prestiti (CDP) as it looks for ways to take the debt of its Saipem unit off its balance sheet,

Egypt's EGAS Invites 10 LNG Firms for Workshop Linked to Tender

Ten liquefied natural gas (LNG) trading firms have been invited by state-run Egyptian Natural Gas Holding Co (EGAS) to join a technical workshop, which traders

Top Canada Court: Ecuador Villagers Can Sue Chevron in Ontario

Canada's top court ruled on Friday that a group of Ecuadorean villagers could pursue a multi-billion pollution lawsuit against Chevron Corp in the Canadian province of Ontario.

Norway to Close Arctic Coal Mine

Norway's state-owned coal company said on Friday it plans to mothball its key mine in the Arctic Svalbard archipelago, posing difficult political questions for

Oil Dips, Investors Await U.S. Jobs Data

Oil prices eased in Asian trade on Friday as investors turned cautious ahead of U.S. jobs data later in the day which is expected to play into the Federal Reserve's decision on the timing of any U.

Timing in Doubt on Hapag-Lloyd IPO

German container shipping group Hapag-Lloyd has taken further steps in preparation of a stock market listing and has mandated more banks for the move, but it remains

Asia Tankers-VLCC Rates Will See More Volatility

VLCC market to be "hot" in Q4 -VLCC broker. Freight rates for very large crude carriers (VLCCs) face a roller-coaster ride on uncertain cargo volumes and vessel

Rosneft, Japan Drilling Ink Vietnam Exploration Deal

Russian oil giant Rosneft said on Friday it had signed an agreement to drill offshore exploration wells in Vietnam with Japan Drilling Co. "We are expanding

Norway Approves Wintershall's Maria Field Development

Norway has approved BASF subsidiary Wintershall's plan to develop the Maria oil and gas field in the Norwegian Sea. Operator Wintershall has previously estimated the development to cost around 15.

Brent Slips Towards $50, Weak Demand Weighs

ECB cuts euro zone growth forecast to 1.4 percent. Commerzbank, Barclays, BNP Paribas cut oil price forecasts. Oil prices fell on Friday, pushing benchmark North

BofA Downgrades BP to "Underperform"

BP down more than 3 pct after BofA-ML cuts rating on stock to "underperform" and warns of growing risks to co's dividend and potential for M&A that could be financed by stock.

Sound Oil Appoints Cantor Fitzgerald as Sole Adviser

  Sound Oil, the Mediterranean focused upstream gas company, is pleased to announce the appointment of Cantor Fitzgerald Europe as the Company's sole broker with immediate effect.

HII Wins $109.4mln U.S. Navy Contract

 Huntington Ingalls  has received a $109.4mln contract modification to carry out support services for the U.S. Navy’s nuclear submarines.   The company will work to engineer,

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