BP (LON: BP) has confirmed its CEO Bernard Looney has resigned after an investigation into his “conduct in respect of personal relationships with company colleagues” and misleading the board.
Analysts weigh-in on Petrofac’s dire news and the road ahead.
Analysts have warned that the surprise announcement of a new CEO for Petrofac (LON: PFC) is a negative signal for investors, with “renewed scrutiny” ahead for its balance sheet.
Shell (LON:SHEL) CEO Ben van Beurden has “flung open a door on windfall tax which the UK Government had been trying to close”.
Oil and gas giant Shell has become the latest company to divest from Russia following the country’s invasion of the Ukraine.
An investigation into allegations of bribery at Petrofac, which wrapped up yesterday, “will unlock the lucrative” Saudi Arabia and United Arab Emirates (UAE) markets.
A wealth management firm has said it is “sceptical” that Engine No.1 can take “all of the credit” for the share price performance of ExxonMobil.
As oil and gas faces a rise in climate activism, ESG concerns, and the need to raise its own profile as a pillar of the energy transition, investors are weighing the impact.
BP will make 7,500 of its planned global job cuts compulsory after roughly 2,500 workers applied for voluntary redundancy, according to a news report.
Investors are going “bargain hunting” for shares in Shell and BP after their stock values each hit 25-year lows.