Conservatives vow to end oil and gas windfall tax June 12, 2025 Kemi Badenoch will call for an end to the oil and gas windfall tax, in addition to scrapping Labour’s ban on new oil and gas licences, as she seeks to bolster her pro-growth credentials. The Tory leader is expected to announce her party will be “standing up for our oil and gas industry,” in an [...]
Mark Kleinman: BP bid may be more likely from Exxon than Shell May 15, 2025 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column BP bid may be more likely from Exxon than UK rival Shell Takeover rumours in the London market don’t come with a more spectacular veneer than when they’re attached to BP. Unfortunately for Murray Auchincloss, the [...]
Oil prices slump to four-year low amid Opec+ production push May 5, 2025 Oil prices have slumped to a four-year low as concerns over a supply glut from Saudi Arabia and a slowing global economy rattle the sector. Brent crude, the global benchmark, has fallen more than four per cent after oil cartel OPEC+ agreed over the weekend to increase oil production by another 411,000 barrels a day [...]
Shell weighs BP takeover bid May 5, 2025 Shell is reportedly weighing a takeover bid for struggling rival BP in what could lead to one of the biggest deals in the history of the oil and gas industry. The oil major is understood to have appointed advisers in recent weeks to discuss the feasibility of a move for BP, which could lead to [...]
FTSE 100 on track for longest winning streak ever May 2, 2025 The FTSE 100 is set to net its longest winning run ever as it recovers from the tariff-induced market chaos of April. Should the UK’s flagship index continue its morning rally and close in the green on Friday for the 15th consecutive trading session, it will beat the current record of 14 days achieved in [...]
Shell: FTSE 100 giant’s shares rise after unveiling buyback and profit hit May 2, 2025 Shell recorded a sharp fall in first-quarter profits on Friday, after crude oil priced weakened amid geopolitical uncertainty. The FTSE 100 oil giant recorded adjusted earnings of $5.58bn (£4.2bn) for the first three months of the year. Whilst this surpassed analyst expectations of $4.96, it marked a stark fall from the $7.73bn reported for the [...]
BP forecasts ‘weak’ gas trading April 11, 2025 BP said it expects gas marketing and trading to be “weak” in the first three months of 2025, as it published its early indicators for performance through the period. Upstream production in the first quarter is also expected to be lower compared to the prior quarter, with production slightly higher in oil but lower in [...]
Shell: FTSE 100 giant vows to boost investor returns after £19bn pay day March 25, 2025 Shell has vowed to reward its shareholders even further after the FTSE 100 giant handed almost £19bn to its investors in 2024 while also revealing plans to cut spending and reduce costs Ahead of its capital market day event today, the oil giant told investors it also plans to ramp up cost savings and cut [...]
Runcorn by-election: Reform UK reveal Sarah Pochin as candidate March 24, 2025 Reform UK have unveiled Sarah Pochin as their candidate for the Runcorn and Helsby by-election ahead of their first major electoral test since the general election. The party announced on Monday that the former magistrate would stand in the upcoming ballot to replace former MP Mike Amesbury, who stood down following his assault conviction. Pochin, [...]
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 [...]