BP ramps up fossil fuel spending and rows back on green targets February 26, 2025 BP will dial up its spending on oil and gas by $10bn (£7.9bn), slash its investment into renewable energy and offload $20bn of underperforming assets as part of a major strategic overhaul that aims to boost its beleaguered share price. In a much anticipated – and delayed – announcement from boss Murray Auchincloss, the British [...]
Cut taxes for BP and Shell to protect UK from Trump’s trade war, Rachel Reeves told February 6, 2025 Oil giants such as BP and Shell who operate in the North Sea should be given huge tax breaks to help protect the UK against Donald Trump’s burgeoning trade war, Chancellor Rachel Reeves has been told. Aberdeen & Grampian Chamber of Commerce is calling on the UK government to reduce the 78 per cent tax [...]
Gulf Marine Services posts fall in net profit as it slashes debt September 4, 2024 Gulf Marine Services (GMS) posted a hefty dent in net profit in its half-year results despite a sizeable rise in revenue, as the highly levered business continues to focus on debt reduction. The London-listed oil services provider, which operates self-propelled and elevating support vessels for the oil sector out of the United Arab Emirates, saw [...]