Bluebell Capital Partners criticized BP’s plan to reduce oil and gas production by 25% by 2030, labeling it an “irrational strategy”.
The investor group urged BP to cut funding for bioenergy, hydrogen, and renewable projects, claiming the company has “no right to win” in these markets.
Despite pressure, BP’s new leadership, under Murray Auchincloss, plans to continue with the existing renewable energy strategy.
A new crisis is brewing in one of the world’s trade arteries, threatening to snarl supply chains and push up oil prices and broader inflation at a time of slowing economic growth.
HOUSTON :Oil rose nearly 2per cent on Monday as investors worried about disruptions to maritime trade and supply costs after the Iran-aligned Yemeni Houthi militant group attacked ships in the Red Sea.
The top three emitters are Saudi Arabia’s Aramco, Russian government-owned Gazprom, the National Iranian Oil company, and the top investor-owned companies are ExxonMobil, Shell, BP and Chevron. The list also includes the company led by the president of this year’s international climate negotiations: the Abu Dhabi National Oil Company.
Kosmos Energy Ltd. has seen net earnings more than triple to $85.19 million for the third quarter against the prior three-month period, and announced a pending takeover of the operatorship of Senegal’s Yakaar-Teranga gas field.
Energy giants BP and Shell unveiled sharp downturns in their usual earnings last week in a rocky third quarter for the sector, with the oil and gas industry failing to match last year’s record profits.
LNG trading was a crucial component in oil majors’ Q3 earnings
BP has brought on stream the Seagull oil and gas field in the UK North Sea.
BP has set a deadline for completion of the Greater Tortue Ahmeyim (GTA) natural gas project offshore Mauritania and Senegal to Q1 2024, the British energy giant announced on Tuesday during a conference call.
Trinidad and Tobago has launched an oil and gas bid round with 13 shallow-water blocks on offer, Reuters reported on Wednesday. The 13 blocks are located on the continental shelf near producing concessions. According to Reuters, bids for the round will close on April 2, 2024. The offerings are more than double the country’s previous […]