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What the papers sayBack

West_Texas_Pumpjack

The Financial Times

Companies and Markets

Oil bonanza claimed for southeast

A tiny UK oil explorer claims there could be 100bn barrels of oil beneath the southeast of England, after drilling at a well near Gatwick airport. Shares in UK Oil & Gas Investments (UKOG), an Aim-traded oil exploration company, leapt yesterday after it said the Weald Basin held 158m barrels of oil per square mile, far outreaching government estimates.

Oil price holds key to success of takeover

Sometimes one number is all that matters. In the case of the proposed takeover of BG Group by Royal Dutch Shell, that number is the oil price. In short, the success or failure of the blockbuster energy deal hinges on Shell’s long-term oil price assumptions for the transaction involving a range of $70 to $110 per barrel for Brent crude, according to some of Europe’s biggest investors.

Experts rush to calm North Sea job loss fears

Royal Dutch Shell’s takeover of smaller UK rival BG Group is fuelling anxieties about industry job losses in Aberdeen, centre of the North Sea oil sector, because both companies have substantial operations there.

Gulf Keystone’s losses widen

Net losses at Gulf Keystone Petroleum, the troubled oil explorer focused on the Kurdistan region of Iraq, have widened to $248.2m in 2014 from $32m, following a challenging year.

 

The Times

Gridlock fears as cars hit record number

The number of vehicles on British roads has increased by more than 10 million in the past two decades amid fresh warnings over gridlock. Figures from the Department for Transport show a record 35.6 million cars, vans and HGVs were registered in the fourth quarter of last year, a 1.7 per cent increase on the year before – the biggest annual increase since 2007.

 

 

The Daily Mail

Get your cars under cover! ‘Blood rain’ is blowing in from the Sahara

Today may be the hottest day of the year so far, but the sunny spell is set to be broken – with ‘blood rain’ caused by Saharan storms. The phenomenon, caused by desert dust being blown from north Africa into air currents, is due to hit Britain this weekend.

Kamikaze driving, laboured jokes…Jodie Kidd is perfect for Top Gear

Like vampires of zombies or the Rolling Stones, there’s no getting of the Top Gear trio. Jeremy Clarkson, Richard Hammond and James May have sworn to keep performing live, despite Clarkson’s sacking from the show.

 

The Daily Telegraph

Business

Trade deficit grows as low EU demand hits exports

Britain’s trade deficit has widened, with the strong pound and weak Eurozone demand acting as a “straitjacket” on exporters. The deficit rose to £2.9bn in February, from an upwardly revised deficit of £1.5bn in January, according to the Office for National Statistics (ONS).

 

Posted by Lois Hardy on 10/04/2015