Shell anticipates ‘significantly lower’ gas trading as investors ‘sit on hands’ July 7, 2023 Shell said it anticipates “significantly lower” gas trading in its second quarter results, but questions remain about the energy titan’s claim it’s linked to ‘seasonality’. Ahead of their 27 July results, the firm claims its expected dip was down to “seasonality” in the market, while stressing that the performance would be “in line” with the [...]
Norway scraps oil and gas licensing round as supply crisis looms November 29, 2022 Norway has postponed its next round of new oil and gas exploration licenses until 2025, putting more pressure on the continent.
Bernard Looney: A celebrated BP career ends more suddenly than anyone expected September 13, 2023 BP boss Bernard Looney's resignation brings to an end a lengthy career at the oil giant, where he was identified as a rising star early on
HSBC confirms plans to stop funding new oil and gas fields December 14, 2022 HSBC has revealed it will stop funding new oil and gas fields, as part of a wider update of its environmental policies.
FTSE 100 close: BP propels London index higher after posting record £23bn profit February 7, 2023 London’s FTSE 100 was boosted by investors piling into oil giant BP , which announced its highest ever full year profits of £23bn last year. The capital’s premier index jumped 0.36 per cent to close at 7,864.72 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Russia and Ukraine extend Black Sea grain deal in bid to lower global food prices March 18, 2023 An unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat has been extended. The extension was announced by the United Nations and by Turkish President Recep Tayyip Erdogan, but neither confirmed the length of the extension. The UN, Turkey [...]
Russian economy shrinks by four per cent due to impacts of Western sanctions August 13, 2022 The Russian is now four per cent smaller than it was a year ago, according to new figures from the country’s state statistics agency. Russia’s gross domestic product (GDP) for Q2 2022 equals a sum equivalent to 96 per cent the value of the country’s economy in Q2 2021, the preliminary Rosstat statistics show. The [...]
China in three decade oil demand hit amid economic slowdown September 14, 2022 China oil consumption is set to shrink by the greatest amount in three decades, driven by Beijing’s adherence to strict Covid-19 restrictions to tame the virus, the world’s energy watchdog said today. Oil demand will drop around three per cent this year caused by economic activity taking a hit from Beijing’s zero-Covid tolerance policy, the [...]
Saudi Aramco unveils £36.8bn profits powered by soaring gas prices November 1, 2022 Saudi Aramco reported its second-highest earnings as a listed company, driven by this year’s surge in oil and gas prices.
Total profits as French energy giant joins rivals with record £29.9bn earnings February 8, 2023 Oil and gas major Total Energies has joined the profits party alongside its rivals, posting record full-year earnings of £29.9bn.