The oil and gas industry contributes to 42% of global emissions according to global consulting firm McKinsey. It is little wonder that the sector has found itself in the crosshairs of environmental campaigners and a growing portion of the investment community is turning away from fossil fuel-based investments amid increasing focus on environmental, social and governance (ESG) issues. At the ...

Although the UK’s stock market underperformed those of Eastern Europe, the US and Western Europe in 2019, in sterling, total-return terms, few investors are likely to sniff at a total return of 19.2% from the FTSE 350 index. The FTSE 250 outpaced the FTSE 100 with a total return of 28.9% against 17.3%. Better still, the headline indices were relatively calm, especially compared to the wild ...

UK stock markets stayed virtually flat at the start of a relatively quiet Wednesday with investors having relatively thin corporate news to provide direction and eyes firmly being fixed on the imminent signing of an initial US-China trade deal. US Treasury Secretary Steven Mnuchin said tariffs on Chinese goods would not be repealed until the completion of a Phase 2 agreement, planting some ...

After a torrid end to 2019 oil explorer Tullow Oil (TLW) must be wondering when it will catch a break. Despite announcing a new oil find offshore Guyana, shares in the company fell 4.7% to 61p on Thursday. This latest setback reflects a well result which came in below pre-drill expectations. The Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana, encountered approximately ...

London’s FTSE 100 started 2020 on the front foot, nudging 68.6 points higher to 7,611 as the markets eagerly await signature on a phase one trade agreement between the US and China, promised on 15 January. Miners were among the top performers and UK property investor British Land (BLND) was among the laggards. Shares in Africa-focused oil producer Tullow (TLW) shed 7% to 59.5p on the news ...

Investors continue to face obstacles in the search for income. In the past week alone, oil producer Tullow Oil (TLW) has suspended its dividend and troubled investment trust Hadrian’s Wall (HWSL) says its future dividend payments will depend on its ability to realise value from its portfolio. Vodafone (VOD), Centrica (CNA), Royal Mail (RMG) and Marks & Spencer (MKS) have cut their ...

Shares in FTSE 250 oil firm Tullow Oil (TLW) have fallen 60% to 57p as its production guidance lies in tatters, its dividend is suspended and chief executive Paul McDade and executive officer Angus McCoss have both quit. Output is expected to be lower than previously forecast in 2020 and subdued in the following three years. The company also says it is reassessing its cost base in light of ...

UK stocks trod water at the opening following gains overnight in Asia and in Friday’s trading in New York. After finishing up more than 100 points or 1.4% on Friday, the FSTE 100 index of leading stocks slipped 0.1% to 7,230. The week ahead sees the UK hold its third election in four years as well as interest rate decisions from the European Central Bank (ECB) and the US Federal Reserve ...

The FTSE 100 index dropped 36 points to 7,340 today along with international markets after Donald Trump merely re-iterated his rhetoric that a trade deal was imminent with China without providing new information, in a speech at the Economic Club of New York last night. Shares in house builder Taylor Wimpey (TW.) bucked the trend to firm 1% at 171.5p after the company’s trading statement said ...

Amid all the Brexit drama and the high profile bid action around London Stock Exchange (LSEG) it would be easy to miss some of the other significant recent announcements. Supermarket Morrisons (MRW) impressed the market, managing a near 5% gain above the 200p mark, as it unveiled a big bump in its first half dividend and announced an extension to its wholesale supply partnership with online ...

London’s FTSE 100 reversed 24.2 points to 7,343.25 on Monday with investors spooked by the attack on Saudi oil facilities and flocking to safer havens such as gold. Markets were also weak across other parts of Europe and Asia where investors reacted in a similar manner to the oil price spike and how it might fuel inflation. In corporate news, Tullow Oil (TLW) gushed 9.9% higher to 244.3p on ...

Invest in what you know is the golden rule for first time investors. This advice has stood the test of time and is a great way for people to get to know what investing is all about. Fortunately, there are many companies on the FTSE 350 which are household names. But when you get more comfortable with investing and how the stock markets generally work, there’s a whole host of companies less ...

Travel operator TUI (TUI) allowed investors to breathe a huge sigh of relief after maintaining full year guidance despite plunging third quarter profits. The all-inclusive holidays firm reported a near-60% fall in pre-tax profit for the three months and an underlying $200m loss for the first nine months of the year. The plunging pound keeping UK holidaymakers at home, ongoing Brexit uncertainty ...

Shares in oil explorers Tullow Oil (TLW) and Eco Atlantic Oil & Gas (ECO:AIM) are gushing higher on news of a big exploration success offshore Guyana. Tullow advances 16.4% to 208.5p and Eco is up 98.5% at 135p. The Jethro-1 exploration well, drilled on the Orinduik licence, has encountered 55 metres of net oil pay. This is the part of an underground reservoir containing oil which it ...

UK investors continue to tread tentatively in early trade on Wednesday as threats perceived over global trade wars and geopolitical tensions in the Middle East give pause to optimism. The UK’s FTSE 100 benchmark index eases back by single digit points to 7,413.57 having rallied more than 3.5% so far in June, and the cautious mood is reflected in another firm day for gold prices, traditionally ...

Stocks start the week in a positive mood with the FTSE 100 index up 0.2% to a new six month high of 7,473 led by energy stocks. Oil prices have hit a new high for the year as the US tightens sanctions on Iran by withdrawing waivers on its exports to countries such as China and Turkey. Brent crude is trading at $74.50 per barrel on Tuesday compared with less than $55 per barrel at the start ...

The decision by Norway’s $1trn sovereign wealth fund to sell its positions in pure play oil and gas companies has caused shockwaves across the natural resources sector. The plan, subject to parliamentary approval, is to sell off interests in businesses which only undertake exploration and production of oil and gas, rather than integrated operators like BP (BP.), Royal Dutch Shell (RDSB) and ...

Small cap oil exploration firm Eco Atlantic Oil & Gas (ECO:AIM) is teaming up with the big boys for a significant drilling campaign offshore Guyana this summer. Along with its partners Tullow Oil (TLW) and French outfit Total, Eco will drill two wells on the Orinduik block. The first will go after the Jethro-Lobe prospect, estimated to potentially hold 250m barrels of oil equivalent ...

Oil and gas company Tullow Oil (TLW) was a notable stock market success story of the first part of the 21st century. The company enjoyed notable discoveries in Ghana and Uganda and could point to a 70% success rate on exploration and appraisal wells against an industry average of somewhere around one-in-seven. It went from a share price of 76p at the start of this century to a peak above ...

Market attention is likely to fall on several large and smaller oil and gas operators off the coast of Namibia in West Africa as a drilling effort kicks off this September. The likes of ExxonMobil, GALP, ONGC, Total and Royal Dutch Shell (RDSB) are involved, along with small and mid-cap firms like Chariot Oil & Gas (CHAR:AIM), Eco-Atlantic Oil & Gas (ECO:AIM) and Tullow Oil ...