Business

HEADLINES:

Rolls takes a Ł66m punt on Norway oil

29.06.09

Rolls-Royce, best-known for producing aero-engines, is moving further into the oil and gas business.

Rolls today spent Ł66 million on a 33% stake in the Norwegian oil and gas support systems group ODIM.

Roll-Royce's marine industry chief John Paterson said: "The offshore sector is core to our marine strategy, and ODIM has a strong market position."

Reader views (0)

Add your view

No comments have so far been submitted.

Add your comment

MONDAY UPDATE

Morgan Stanley casts cloud over Thomas Cook and Tui

Fresh weakness in the dollar gave a further boost to commodity prices which, in turn, brought in the buyers for mining shares

Anthony Hilton

City Comment: Why the Ł1 billion tag on Gartmore?

Mickey Clark

Market comment: Regulator set to make it choppy for the waters

Peter Bill

City comment: Foreign buyers snapping up ‘too dear’ London homes

Chris Blackhurst

City comment: Goldman takes too narrow a view to be doing God’s work

City Spy, cityspy@standard.co.uk

To be Frank, he’s a heroin of our time

“It's been a while since Frank Timis graced City Spy so a big shout out to the former boss of Regal Petroleum who told the market he'd found a whole load of oil in Greece only for it to turn out he hadn't