Shell hopes to woo regulator with fresh plans for major North Sea gas field SHELL PLANS Shell has revived its efforts to develop a major North Sea gas field after previous attempts were shut down by regulators over environmental concerns. The fossil fuel firm has published an amended plan for the development of the Jackdaw field, at the Shearwater hub in the central North Sea. It is hoping to launch production [...]
UCL professor resigns from Science Museum board over oil and gas cash Professor of Climate Science Chris Rapley CBE resigned this weekend from the Science Museum’s Advisory Board over the issue of fossil fuel sponsorship and the museum’s willingness to accept money from major oil and gas companies, including Shell. Rapley, who is currently Professor of Climate Science at UCL, has long-standing ties with the Science Museum, [...]
Fuel crisis: City traders circle BP and Shell as they take positions for more price hikes Investors are not banking on a swift resolution to the UK fuel crisis against a backdrop of continuing queues on forecourts and the Army being put on standby to help with deliveries, according to data shared with City A.M. this morning. Analysis of investor movements with regards to BP, Royal Shell and Glencore shows that [...]
Shell forecourt stores join Uber Eats as popularity grows for speedy groceries September 23, 2021 Shell petrol station shops have partnered with Uber Eats, meaning consumers will have 24 hour access to grocery products. Some 340 forecourt stores are joining the delivery platform after the company left a partnership with Deliveroo. More than 250 of the stores are available for orders 24 hours a day. More than 750 products will [...]
Channel 4 and BP cut sponsorship ties for Paralympics coverage August 24, 2021 As the Paralympic Games begin today, it has emerged that oil giant BP is no longer a sponsor of Channel 4’s prime-time coverage of the event. An initial press release issued by Channel 4 in January 2020 announced that BP and Toyota would “share sponsorship equally” but a subsequent press release published last week stated that “Channel 4’s Tokyo [...]
Shell hails ‘strong start’ and hikes dividend on higher oil prices April 29, 2021 Oil giant Shell this morning hailed a “strong start” to 2021 as the Anglo-Dutch firm recorded a massive increase in earnings on the back of higher oil prices. The FTSE blue-chip said that earnings rose to $3.2bn, up from $393m in the final quarter of 2020. As a result of the improvement in trading, Shell [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, City A.M. checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
Shell Q1 results: What to expect April 27, 2021 After BP today gave the market “all it could have asked for”, attention will now turn to rival oil giant Shell ahead of Thursday’s first quarter results. While the former firm came into the results trumpeting the fact that it would hit its debt reduction targets a year early, prompting the restart of share buybacks, [...]
Historic Texas freeze cost Shell £145m April 7, 2021 Oil giant Shell has said that a storm that blanketed Texas in February, killing more than 100 people, will cost it around $200m (£145m) in adjusted earnings. The London-listed company said it expects to produce between 2.4m and 2.48m barrels of oil or equivalents per day from its upstream business unit in the first three [...]
New chairman for Shell as CEO takes 42 per cent pay cut March 11, 2021 British-Dutch energy giant Shell has today announced the appointment of Andrew Mackenzie as its new chairman. Mackenzie joined Shell’s board in October 2020 after a career in the energy sector, most recently as group CEO of BHP. He also had a three-year stint at Rio Tinto, after a 22-year career at BP. The appointment came [...]