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Financial Times: The Week

By Stanley Pignal
Published: January 12 2008 02:00 | Last updated: January 12 2008 02:00

Oil & Gas

BP ‘s share price lost ground following analysts’ cuts in its fourth-quarter profit outlook. The group drew attention to lower margins in its refining division, as well as higher production-sharing costs with government partners. Record oil and gas prices are delaying big hydrocarbons projects as governments haggle with oil companies over taking a higher share in revenues, according to Jeroen van der Veer, chief executive of Royal Dutch Shell .

From Financial Times Market Report page

By Robert Orr and Neil Hume
Published: January 12 2008 02:00 | Last updated: January 12 2008 02:00

Royal Dutch Shell slid 1.9 per cent to £20.59 on talk that the oil giant was following the lead of rival BP and talking down its numbers.

Copyright The Financial Times Limited 2008

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