oil

BP will not pay dividends for the remainder of the year after being forced to put $20bn (£13.5bn) into a compensation fund for victims of the Gulf of Mexico oil spill.

Investec's Alastair Mundy topped up his high-conviction position in BP last week, saying the oil giant remains a "very interesting investment opportunity".

Mega-cap oil companies have failed to benefit fully from the long-term rising oil price because of large investments they have made in tangential areas, says the manager of the Junior Oils Trust.

Schroders' Andy Brough has dismissed concerns BP has become a takeover target or will be forced to cut its dividend, labelling investor reaction to the Gulf of Mexico disaster as "mad".

Last week saw dramatic developments in the oil sector as BP tried to contain a huge oil slick, but fund managers are forecasting gradual upward moves in the oil price in the longer term.

Martin Currie manager is seeking out 20%-25% on a reasonable investment horizon on his Global Energy vehicle one year on from its launch

Barings is to launch a Dublin-domiciled Ucits III Middle East and North Africa (Mena) fund.

We are actively seeking exposure to the media sector.

As a result of the credit crunch, the UK and other parts of the world are facing major structural changes. UK economic recovery will be muted and two-thirds of earnings will come from overseas. So which sectors will perform the best in 2010?

F&C's UK market strategist, Ted Scott, says oil majors will be supported by a number of factors next year, including secure dividends and strong oil prices.