The price of oil is steadily advancing towards $100 a barrel, a mark it hasn’t hit in nearly a year, presenting fresh inflationary challenges for monetary authorities.
Oil prices steadily advance toward $100 per barrel.
The FTSE 100 is poised to benefit today due to another uptick in oil prices, which are inching closer to the $100/barrel mark.
Oil prices break $92 for first time in 10 months on tight supplies and upbeat OPEC
Brent crude has surpassed $92 a barrel for the first time this year, influenced by supply reductions from Saudi Arabia and Russia.
Share Talk Weekly Energy Sector News Round-Up, Sunday 3rd September 2023
US oil climbed above $85 a barrel leading into the weekend for the first time since November as supply cuts tighten West Texas Intermediate has risen 2pc.
As energy bills skyrocketed, the pay rises of British Gas, BP, and Shell executives ranked among the top in the FTSE 100.
In 2021 and 2022, the CEOs of energy titans British Gas, BP PLC, and Shell PLC experienced some of the most significant pay hikes among FTSE 100 leaders.
BP’s profit plummets due to poor refining margins; however, it raises dividend.
BP PLC (LSE: BP.) announced a significant plunge in profits due to declining refining margins, yet it increased its shareholder dividend by 10%.
Italian petroleum giant Eni acquires Neptune Energy for $4.9 billion.
Eni, the Italian energy giant, has confirmed its decision to purchase Neptune Energy, a private equity-backed company, for $4.9 billion, marking the largest cash transaction in Europe’s oil and gas
BP profits hit nearly $5bn in three months
BP PLC (LSE: BP.) has reported an increase in first-quarter profit, reflecting strong oil and gas trading. The oil major stated that its underlying replacement cost profit for the first
BP is encountering investor disapproval after changing its stance on green commitments.
According to The Times, BP is currently facing a revolt from shareholders who are seeking to remove Helge Lund from his position as chairman due to the company’s decision to
Harbour Energy and BP have formed a partnership in the Humber
Harbour Energy PLC (LSE: HBR) and BP PLC (LSE: BP.) have partnered to develop the Viking carbon capture transportation and storage (CCS) project in the Humber region.
BP and Shell leap after production cut by Opec+
BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) led the FTSE 100 risers after the announcement of a surprise cut in oil production by OPEC+ members.