Oil price slides as hedge funds’ buying fades: Kemp

Reuters | Jan 14, 2020 at 1:00 AM

Despite the increase in tensions across the Middle East after the killing of an Iranian general by a U.S. air strike, hedge fund managers added only modestly to their bullish position in petroleum last week.

Lekoil in fraud fear over ‘fake loan’

The Times | Jan 14, 2020 at 12:01 AM

A Nigerian oil explorer appears to have been defrauded after paying $600,000 for a fake $184 million loan agreement with people pretending to represent Qatar’s sovereign wealth fund.Shares in the Aim-listed Lekoil were suspended yesterday after the Qatar Investment Authority queried the supposed loa

Pouring oil on some troubled waters

The Times | Jan 14, 2020 at 12:01 AM

As jobs for ex-government ministers go, little beats a non-exec post at an Aim outfit. So imagine Mark Simmonds’ delight. A week ago, he lucked out with Lekoil, joining the board of the Nigeria-focused oil and gas outfit, apparently valued at £50 million. And what better berth for the ex-Foreign Of

Shipping’s Big Bang Sends Two Global Industries Spinning

Bloomberg | Jan 14, 2020 at 12:00 AM

Two weeks ago, the vast majority of the world’s ships were forced to change the fuel they use. Some big winners — and potential losers — are starting to emerge from what was a historic switch for the world’s oil refining and maritime industries.