Ofgem tells energy suppliers to cut switching times to five days or face a fine February 6, 2024 The move brings the required transition period down by 10 days
‘Too early to tell’ the financial hit as BP rig downs tools after pipe goes AWOL February 6, 2024 A gigantic oil rig performing sub-sea drilling for UK supermajor BP has malfunctioned in bad weather, reports suggest. Upstream Online has said that the semi-submersible rig known as Ocean GreatWhite, “unintentionally” dropped its riser to the seabead and subsequently lost it amidst bad weather. A riser is a large-diameter pipe that helps transport mud taken [...]
BP promises bumper share buyback as new boss hails profit beat February 6, 2024 BP has increased its buyback programme to $3.5bn for the start of 2024
With Auchincloss in place, can BP go green and print green? February 5, 2024 The US giants Exxon and Chevron have reported their second-highest profits since David Cameron and Barack Obama were leading the free world. Across the pond, Shell also posted some rather handsome results last week.Next in line to report is BP, the little brother of the group in a market cap sense, which will update the [...]
Week ahead: BP’s strategy under new chief, UBS’ Credit Suisse integration update February 4, 2024 Markets are bracing for full-year results from BP and UBS this week, while several regions will release data on the performance of the services sector.
Biden’s liquified natural gas halt sparks outcry from energy giants February 4, 2024 The US President’s pause on pending and future permits to export liquefied natural gas (LNG) to non-Free Trade Agreement countries is facing backlash from some of the world’s biggest energy giants. The oil sector’s top brass, including Shell’s CEO, have criticised Joe Biden’s move to put on hold any approvals for LNG export terminals, saying [...]
Tata Steel begins formal 45-day consultation over plans for Port Talbot plant February 3, 2024 Tata will replace existing blast furnaces with electric arc furnaces
Shell takes second place behind Exxon in oil supermajor earnings February 2, 2024 US oil heavyweights Chevron and Exxon have beaten a subdued global oil price to post their second-biggest profits in ten years.
Oil giant BP names first female CFO ahead of 2023 results February 2, 2024 Since September last year, Kate Thomson served as interim chief financial officer when the previous incumbent-now chief executive Murray Auchincloss stepped up to the interim leader position.
Ofgem to investigate claims of wind farms overcharging billpayers millions February 2, 2024 Energy regulator Ofgem is investigating the claims that wind farms may have incorrectly added close to £51m to taxpayer bills since 2018.