Shell has no plans for New York listing, prefers share buyback
Shell (LON: SHEL) has no plans to list in New York, preferring to focus on its share buyback scheme to increase its value.
Markets
BP, Shell among oil majors condemned by US lawmakers
Democratic lawmakers in the US lambasted oil majors in a new report on Tuesday (30 April), claiming that the industry has engaged in “an elaborate campaign of deception and doublespeak” to forestall meaningful climate action and sustain their outsized profits.
BP quiet on climate strategy ahead of today’s AGM
BP (LON:BP) is expected to step back from its usual climate-strategy-focus at its Annual General Meeting (AGM) later today, analysts have said.
Houston would welcome Shell and BP, says ex US energy sec
“I’m inviting all European oil and gas companies to relocate to America."
‘UK powerhouse’: Ithaca Energy confirms North Sea combination with Italian oil giant Eni
The combined UK group will produce over 100,000 barrels per day with a market cap of around £2bn.
Wood Group faces call from Sparta Capital to explore sale or US listing
Call from Sparta Capital Management comes a year after collapse of £1.7bn Wood takeover bid from private equity giant Apollo.
Shell mulls quitting ‘undervalued’ London Stock Market for New York
Shell (LON: SHEL) CEO Wael Sawan has said he is open to moving the supermajor’s primary stock listing from London to New York.
Exxon sees lower first-quarter earnings on commodity prices, trading
Exxon Mobil Corp.’s first-quarter earnings will likely be lower than in the prior three-month period due to falling oil and gas prices as well as a drop in profit from mark-to-market derivatives.
OPEC+ extends oil cuts, with Russia bolstering its effort
OPEC+ extended its oil supply cutbacks to the middle of the year in a bid to avert a global surplus and shore up prices.
Husband snooping on wife’s BP M&A work gets insider trading charge
A Texas man made almost $2 million by illegally trading on his wife’s conversations with her BP Plc (LON:BP) colleagues, according to the US Securities and Exchange Commission in its latest case about couples eavesdropping while working from home.
Now is the time to seize the energy transition opportunity
Demand for offshore wind is there - so how we can ensure that all Scottish businesses benefit from the energy transition opportunity now and in the future? Jamie Sansom, team lead of offshore wind at Scottish Enterprise, discusses this important question.
Fitch downgrades Petrofac credit rating following share price trouble
Credit ratings agency Fitch has downgraded its assessment of North Sea operator Petrofac (LON: PFC) to a 'B-' in the latest sign of financial trouble at the firm.
Australian oil and gas majors Santos and Woodside confirm £40bn merger talks
Australian oil and gas giants Santos (ASX: STO) and Woodside Energy (ASX: WDS) have confirmed ongoing discussions on a A$80 billion (£40bn) potential merger.
COP 28 holds key to global carbon market that could help improve offsets
Climate negotiators at COP28 may bolster carbon trading when they decide on rules for a new United Nations-overseen emissions market that can lower the cost of fighting global warming.
‘Mixed bag’: Analysts react to BP third quarter results
The reaction from oil and gas analysts has been fairly muted after BP (LON: BP) published its third quarter financial results earlier today.
Global oil demand to reach its peak this decade, IEA says
Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy.
Oil price rise reflects “uncertainty” over Israel-Palestine situation
Oil prices have risen due to "increased uncertainty" over how the situation in Israel and Palestine could disrupt output from the Middle East.
New investment bank Cavendish targets North Sea energy
Neil McDonald, head of Scotland at the firm, says it wants to support growing energy firms.
Energy transition juggernaut surely now unstoppable as investment surges
On August 25, the United Nations General Assembly (UNGA) adopted a resolution proclaiming that January 26, 2024 will be dubbed the International Day of Clean Energy.
UK households look to lock in energy prices as crisis recedes
Fixed energy tariffs are making a comeback in the UK, allowing consumers to lock in power and gas rates now that prices have eased from last year’s record levels.
Hydrogen is too expensive for the European companies that want to use it
For all the hype surrounding the emissions-free energy source, European manufacturers both large and small are reluctant to buy into hydrogen
Several offshore wind FIDs planned for 2023 ‘look more at risk’
Orsted's £8bn Hornsea Three wind farm is a prime example, and a number of others globally have been "re-shuffled and refocused."
NEO and Jersey pick FPSO for $900m Buchan North Sea redevelopment
NEO Energy has selected an FPSO for the Greater Buchan Area oil redevelopment in the North Sea.
UK homes facing £6,000 bill for imported gas over next 12 years
The Energy and Climate Change Intelligence Unit (ECIU) said that it would not be possible to avoid this by producing more gas domestically, as the UK's North Sea reserves are dwindling.
Wood shares plunge as Apollo decides against takeover move
Shares in Wood are down 34% on the news that Apollo will no longer be pursuing the Aberdeen engineering giant.