FT Energy News 24 February

Centrica signs £2bn gas deal with Qatar (Page 18)

Libya’s oil output has plunged by at least a fifth as foreign companies have shut down production, running the risk of turning the political revolt in the Middle East into an oil crisis. Opec are understood to be ready to boost production of offset any loss from Libya and for now the oil market is well supplied.

Russian oligarchs head for UK court (Page 25)

A high profile legal battle pitting Roman Abramovich against fellow Russian oligarch Boris Berezovsky can go ahead in October after a British court refused to strike out the lawsuit. Berezovsky is Abramovich for allegedly threatening and intimidating him into selling his stakes in Sibneft, the Russian oil group, and Rusal, the aluminium maker, for far less than they were reputedly worth.

Crude at 30-month peak on Libya turmoil (Page 36)

A rise in oil prices to fresh 30-month highs prompted a renewed sell-off in equities and further “flight-to-safety” buying of Treasury bonds, gold and Swiss franc as markets continued to fret about the possibility of Libyan turmoil spreading across the region.

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