Shell profits could ‘come at a cost’ in form of ‘further windfall taxes’, warn analysts
News of Shell (LON: SHEL) recording record annual profits could come back to bite the oil and gas giant, as well as its counterparts.
Brewin Dolphin
Shell expected to report ‘another monster set’ of financials with Q2 results due tomorrow
Supermajor Shell (LON: SHEL) has been backed to replicate the eye-watering profits it reported earlier this year.
China among the leading contenders to snap up BP’s stake in oil company Rosneft
There is general consensus amongst analysts that oil giant BP will face an uphill struggle to find a buyer for its stake in Rosneft.
TotalEnergies pulls capital for ‘new projects’ in Russia
TotalEnergies has said it condemns Russia for its “military aggression against Ukraine” and will not provide capital for new projects in Russia.
‘We’re entering a growth cycle’ – Wood boss Robin Watson says Aberdeen firm has momentum in its favour
Wood chief executive Robin Watson said today (August 24) the Aberdeen firm's conventional energy business is "stable" and its other activities gaining momentum after an "inflection point" for the group earlier this year.
Wood confident of stronger second half as Covid weighs on latest figures
Engineering and project management giant Wood said today that its first-half figures reflected an uptick in momentum as the period progressed.
Shell boss sees ‘room for spending’ on upstream projects in 2021
Shell’s boss said today that the recent “strong recovery” in oil prices meant the supermajor would have “room to spend” cash on upstream projects, including in the North Sea.
2020 results show BP in energy transition conundrum, analysts say
Oil giant BP’s quest to transition away from fossil fuels and become a net-zero emitter by 2050 has left it caught in a “conundrum”, analysts said yesterday.
BP sinks to losses of £18bn in 2020 as Covid and crude price crash take toll
BP fell to pre-tax losses of £18 billion in 2020 as the energy giant’s balance sheet creaked under the weight of lower oil and gas prices.
BP and Shell set to count their losses
North Sea oil and gas giants BP and Shell will sum up a torrid year for the industry globally in annual results this week.
BP sinks to £3.6bn pre-tax loss as Covid-19 and oil price plummet take effect
Energy giant BP fell to a £3.6billion pre-tax loss in the first quarter of 2020 as the coronavirus and oil price slump made its impact on the business.
Wood boss in bullish mood despite global financial market woes
Wood chief executive Robin Watson was in bullish mood about future prospects for the global engineering and consultancy company after a sharp increase in profits.
Uncertainty for 50 Aberdeen jobs as Weir Group prepares exit from oil and gas
Weir Group has announced it is preparing to exit its struggling oil and gas business, bringing uncertainty for 50 Aberdeen jobs.
Shell sees 36% drop in earnings on weaker oil, gas and LNG prices
Energy giant Shell has seen earnings drop by a third in the last year on lower prices for oil, gas and LNG.
Updated: BP selling £475m worth of North Sea assets to Premier Oil
Energy giant BP has struck a deal to sell £475 million worth of North Sea assets to Premier Oil.
Weir Group culls hundreds of US jobs amid concerns over oil profits
Engineer Weir has warned over profits in its oil and gas division and revealed a fifth of its US workforce has been axed as it battles against tough trading in America.
‘Positive momentum’ for Cairn Energy despite exploration disappointment, analysts claim
Cairn Energy will be “pleased” with its improved performance after posting a loss of over £800 million as recently as March, according to wealth management firm Brewin Dolphin.
Wealth manager Brewin Dolphin sees profits rise by nearly £11m
The Aberdeen operation of wealth manager Brewin Dolphin reflected a “robust” performance by the group during the year to September 30, the firm’s head of office in the Granite City said yesterday.
North Sea ‘suffering’ as majors offload assets, says analyst
The North Sea is “suffering” due to firms looking to more attractive regions of the world to invest, according to an analyst.
Finding stability amid uncertainty
These may seem like uncertain times for your finances.
Opinion: Improving picture for oil companies, but caution pervades
The tide appears to have turned for oil. This time last year, the oil and gas industry appeared to be drowning in a commodity price which seemed destined to hug the $50 mark for some time. Further back, in January 2016, it went as low as $30.
‘Very impressive’ first quarter results predicted for BP, Shell
An analyst has said “the numbers are going to look very impressive” for oil majors Shell and BP when they publish their first quarter results this week.