A rethink by Italian politicians over the rules governing oil and gas exploration has seen at least two London-listed firms rocket in morning trading.
The Italian government had restricted exploration and production in the deep waters off its coasts following the Gulf of Mexico disaster in 2010.
It seems, however, that new legislation will ease restrictions on some offshore licences.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This means both Mediterranean Oil & Gas and Petroceltic International can start work again in the region. The shares have risen 6% and 1.2%, respectively.
BS
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
