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Stock impact report

British Energy Majors May Lean More On Oil And Gas To Boost Profits [Forbes]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Forbes
AFP via Getty Images A rather unsubtle change is afoot at the world's two British oil majors - BP (LON: BP) and Shell (LON: SHEL). Having pledged and burnt millions on renewable energy moves under their former bosses, both are now turning to traditional oil and gas plays to earn back more than few millions under current ones. Both U.K.-listed FTSE 100 rivals have backtracked on some of their climate targets this year, putting more emphasis on oil and gas to boost profits whilst at the same time reaffirming the commitment to a low-to-zero carbon emissions horizon with the next three decades. Both posted relatively lackluster results last week warning of lower takings from oil trading and lower refining margins. While Shell's quarterly financials weren't particularly trailblazing, BP saw its three-monthly profits slump to near 4-year-lows In their first public engagement since their respective results were published, BP CEO Murray Auchincloss and Shell CEO Wael Sawan recently t Show less Read more
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