PTT Exploration and Production of Thailand has just raised $3bn to fund its overseas expansion. Lex's Oliver Ralph and Vincent Boland discuss the growing challenge from emerging markets energy companies to the oil majors
Lex on what oligarch sale of TNK-BP stake to Rosneft means for BP
The slowing Chinese economy seems to have not yet found a floor as the latest trade data shows further evidence that the world’s second largest economy is still struggling to post a strong rebound. Annual growth of China ’s exports in April was significantly lower than the expectations, as the demand for its goods weakened sharply in the emerging Asian economies alongwith still subdued demand in Europe. Imports by China also recorded a weak growth, showing signs that the investment growth in the country remained slow
Cuadrilla Resources to start fracking in the UK. Image: Reuters. The UK Shale gas explorer Cuadrilla Resources is expected to start fracking soon and may resume gas production by 2014, it has been reported
Sir Mervyn King, Bank of England governor, announced the Bank's decision on whether to extend the asset purchase facility (Reuters) The Bank of England made no change to its key lending rate or the target size of its asset purchase programme Thursday as the debate continues over monetary policy in an economy with slowing growth and accelerating inflation. Bank of England rate-setters faced a tough decision on whether to extend the current quantitative easing programme as inflation remains well above its preferred 2 percent target and the UK economy fell into its first "double-dip" recession since 1975. Since January 2009 the Bank has pursued its asset purchase facility, commonly referred to as quantitiave easing (QE), which sees it buy up high quality debt such as UK gilts in a bid to improve market liquidity and get the economy moving
http://www.FT.com/ In recent weeks the price of Brent crude has approached levels not seen since the start of the financial crisis back in 2008. Javier Blas, commodities editor, and Roula Khalaf, Middle East editor, talk to the FT's Daniel Garrahan about increasing tensions between the west and Iran and how high the price could go.
Fu Chengyu's first attempt to buy a piece of the U.S. oil industry kicked up a storm of protest and ended in failure. Seven years later, the Chinese executive is pouring billions of dollars into the oil patch without even a whisper of trouble.
From speculators to tensions in Iran, there's plenty of finger pointing when it comes to high gas prices. But investors like T.