An executive from the world’s largest mining company BHP (ASX:BHP) has indicated that 2017 is set to be the turning point for electric cars, as demand for crucial commodities begins to accelerate. Speaking at an event in Singapore Arnoud Balhuizen, chief commercial officer at BHP said:...
Vedanta Resources (LSE:VED) has seen its core earnings rise by 48% during the first quarter, on the back of higher demand for zinc and a broad-sweeping lift in global commodities prices. The diversified miner, which primarily produces zinc in India, South Africa and Namibia, revealed its...
BHP (ASX:BHP) has become the latest commodities giant to stage a recovery in its FY financial performance, seeing its underlying profits surge to US$6.7 billion, a five-fold rise on the $1.2 billion made in the previous year. The Anglo-Australian firm’s cash flow was enhanced by stronger...
Conditions in the mining and commodities sector improved in 2016, but miners must be wary of their costs, according to PwC’s UK mining leader Jason Burkitt, following the release of the network’s Stop. Think…Act – mine 2017 report. The report took into account the financial performances...
Credit rating agency S&P Global has cut its outlook on ExxonMobil (NYSE:XOM) to negative, warning that it may downgrade the oil major’s double-A plus rating over the next two years. This latest blow comes after S&P stripped Exxon of its long-held triple-A rating, as the US...
London’s FTSE 100 stock market index closed at a record high on Monday thanks to a jump in the price of oil and other commodities, which boosted the share prices of several LSE-listed energy giants. Oil majors BP (LSE:BP) and Royal Dutch Shell (LSE:RDSA), who together...
Global oil prices reached five-month lows in early trading on Friday, while prices of other commodities also fell as worries escalate across the resources sector. Brent crude dipped to lows of US$47 a barrel, falling from above $50 at the close of play the previous day....
Mergers and Acquisitions (M&A) deals between companies in the energy industry have increased by 36% in the first six weeks of 2017, compared to the same period in the previous year. Nearly US$66 billion in M&A deals have already been announced this year, representing the best...
Total oil and gas discoveries have reached their lowest total in 60 years, according to research by IHS Markit. New discovery figures have continued to decline since dropping of a cliff in 2015, when discoveries also hit a six-decade low. Prior to 2013, the average number of...
Royal Dutch Shell’s (LSE:RDSB) full year profits for 2016 were down 37% year-on-year to US$7.185 billion, while its capital spending total was also reduced to $26.9 billion as the company followed a policy of cost-cutting. However, according to its fourth quarter results Europe’s largest oil and...