News

Chevron gains from higher energy prices
Improved refining margins help push profits up at the second-largest US oil company, which has launched big projects and ramped up production in the US, Brazil and Kazakhstan

Vale boosted by iron ore pricing overhaul
A doubling in the price of the metal after after a shift to quarterly contracts helps the Brazilian miner deliver a healthy rebound in the second quarter

Anglo reinstates dividend after two-year break
The global mining group is resuming dividend payments after a two-year hiatus but warns that a key iron ore project in Brazil faces further capital expenditure costs and delays

Li Ka-shing buys EDF arm for £5.8bn
EDF Networks has low-voltage electricity distribution networks in the east and south of England, long-term contracts with businesses such as London Underground, Heathrow and Gatwick, and the Channel Tunnel

KNOC set to complete bid package for Dana
Korea National Oil Corporation is close to arranging the loans needed to launch a formal £1.7bn offer for Dana Petroleum as the UK oil explorer battles to convince its shareholders to push for a higher offer

Results underline strength of Europe's corporate recovery
Industrial companies have led the recovery after a crushing fall in earnings last year

Forgemasters set Cable nuclear deadline
Sheffield Forgemasters will warn the business secretary it will ditch an ex­pansion into nuclear pow­er unless the government helps fund the project

Stability crucial to US investment, warns Statoil
Norwegian oil and gas group warns US authorities that oil companies need a "stable and predictable" regulatory environment if they are to press ahead with investments in the Gulf of Mexico

Chinalco and Rio sign $1.35bn Guinea deal
Pact allows the Chinese state-owned miner to buy in to a rich iron ore project in Guinea, in a move that places both mining companies at the centre of multi-billion-dollar scramble for west Africa's iron ore

Exxon shrugs off effect of moratorium
ExxonMobil said that the moratorium on new deepwater drilling in the Gulf would have no significant short-term impact on its profits