Shell to post lower 2024 profit after year of faltering oil demand January 26, 2025 Shell is expected to post lower annual profit than the previous year next week, after the energy giant was hit by weak oil prices and faltering demand for the fossil fuel. The London-listed company is scheduled to announce its financial results for the calendar year 2024 on Thursday. Analysts have forecast that it will post [...]
FTSE 100 hits all-time high as investors bet on interest rate cuts January 17, 2025 The FTSE 100 has hit a new all-time high this morning, surpassing the previous peaks it reached in spring last year, as investors ramp up their bets on an interest rate cut by the Bank of England next month. The value of London’s 100 largest listed companies has grown 3.2 per cent in the last [...]
BP to axe thousands of job in cost cutting drive January 16, 2025 BP told staff on Thursday its plans would impact around 4,700 roles and that it would also reduce contractor numbers by 3000.
Shell warns of £1bn cash hit from emissions certificates payments January 8, 2025 Shell said it expects to take a $1.3bn (£1.04bn) cash hit in the final quarter from payments for emissions certificates. The energy major said on Wednesday that the charge is “related to timing of payments of emissions certificates” in Germany and the US. The London-listed company also said it expects profits in its gas business [...]
Which FTSE 100 companies are most exposed to Donald Trump? November 14, 2024 The FTSE 100 has dropped by more than one per cent following the election of Donald Trump as US president, hitting a three-month low earlier this week. Meanwhile, the S&P 500 has been soaring, leading to a clear divergence between the two indexes. While not all of the poor performance of the FTSE 100 can [...]
Victory for Shell after Dutch court overturns landmark emissions ruling November 12, 2024 The Hague Court of Appeal has overturned a landmark ruling that ordered the energy giant Shell to reduce its carbon emissions.
Shell’s profit drops on weaker refining margins October 31, 2024 Shell’s earnings fell slightly last quarter after profit margins declined at its refining business amid weaker global demand for oil. The oil and gas giant said adjusted earnings were $6.03bn (£4.65bn), down from $6.2bn during the same period last year. However, the figure comfortably beat a company-provided analyst consensus of $5.4bn (£4.1bn) and Shell confirmed [...]
BP and Shell profit set to slide on sluggish oil prices October 28, 2024 BP and Shell are expected to post lower profits this week as the supermajors grapple with weak oil prices and a global slowdown in demand.
Activist investor calls for BP chair to quit after ’embarrassing’ performance October 13, 2024 An activist investor famed for ousting senior leadership has called for BP chair Helge Lund to quit after the oil major’s “embarrassing” performance. Bluebell Capital Partners, a London-based hedge fund, has written to BP’s board board twice in the past few weeks attacking its management and the firm’s approach to the transition. Bluebell co-founders, Guiseppe [...]
BP profit hit by weaker refining margins as ‘flat’ oil and gas production forecast October 11, 2024 The oil giant also said it expects net debt to now come in higher, driven primarily by the impact of weaker refining margins.