Wholesale use of electric vehicles (EVs) could reduce the UK’s need for fossil fuels by more than production from the North Sea oil licences recently announced by the government, a new report suggests. A rise in UK EV numbers to 6.3 million by 2030 would be sufficient to offset the need for fuel to be imported to power petrol and diesel vehicles and be a reduction comparable to the new licences, said the Energy and Climate Intelligence Unit (ECIU). Simon Cran-McGreehin, head of analysis at ECIU, said renewa ...

Just How Safe Is Exxon Mobil Stock's Dividend? Dikuch / iStock via Getty Images A key component of income investing is a portfolio that includes safe dividends, those that are unlikely to shrink or disappear. Recognizing when a dividend is stable and safe can be a challenge. Yet, certain metrics can offer clear signs for the investor looking to establish or shore up such a portfolio. What do these metrics tell us about the quarterly dividend at Exxon Mobil Corp. (NYSE: XOM)?Exxon’s most recent payout was ...

Castrol, a global leader in lubricants and part of the bp group, is kicking off its 125th year by becoming the Official Motor Oil of Barrett-Jackson, including the presenting sponsor of the Barrett-Jackson Cup, to further strengthen its support of the automotive enthusiast community. (Graphic: Business Wire)Castrol, a global leader in lubricants and part of the bp group, is kicking off its 125th year by becoming the Official Motor Oil of Barrett-Jackson, including the presenting sponsor of the Barrett-Jacks ...

BP announced Wednesday that interim CEO Murray Auchincloss – who took over last year following the resignation of his predecessor for failing to fully disclose personal relationships with colleagues – is now its permanent CEO.  The energy company says the 53-year-old's appointment was made after a "robust and competitive search process, carried out by the board over the past four months with support from international search advisers." "Since September, bp’s board has undertaken a thorough and highly compet ...

Murray Auchincloss has been appointed as BP CEO on a permanent basis (Photo: Ryan Lim / AFP via ... [+] Getty Images)AFP via Getty ImagesAfter months of suspense over who would be BP's next CEO, and what sort of candidate the FTSE 100 energy giant had in mind to take the company forward, the appointment announced on Wednesday (January 17, 2024) didn't have any vow factor.The chosen one happens to be Murray Auchincloss, its CFO and interim CEO, who was pushed into that interim role in the first place followi ...

Analysts at UBS have slashed their expectations for oil company BP PLC (LSE:BP.)’s share price. In a research note on Tuesday, the investment bank’s equity analysts cut their 12-month price target for the oil company to 600 pence per share, down from 640p.   They said the oil company’s shares "currently offer no value for low-carbon activities", but that electric vehicle charging and renewable gas will be key drivers for the stock in the coming year.  BP is still rated as a ‘buy’ by the bank’s analysts, who ...

Signage for BP Plc at the company's booth during the Gastech Exhibition & Conference in Singapore, on Tuesday, Sept. 5, 2023.Oil and gas major BP has appointed Murray Auchincloss as permanent CEO, the company said Wednesday. This is a breaking news story, and it is being updated. ...

BP PLC (LSE:BP.) on Wednesday confirmed interim chief executive Murray Auchincloss has been given the job on a permanent basis with immediate effect.  Auchincloss has been interim CEO since September 2023 after the shock departure of Bernard Looney.   BP said the appointment followed a robust and competitive search process and included a range of candidates, including external to bp.  BP Chair Helge Lund said: "The board is in complete agreement that Murray was the outstanding candidate and is the right lea ...

BP (BP) closed the latest trading day at $34.28, indicating a -1.66% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.Coming into today, shares of the oil and gas company had lost 0.74% in the past month. In that same time, the Oils-Energy sector lost 0.52%, while the S&P 500 gained 1.56%.Analysts and investors alike will be keeping a close eye on the performance of BP i ...

miroslav_1/iStock Editorial via Getty Images During the fourth quarter of last year, the LNG shipping sector, represented by the UP World LNG Shipping Index (UPI), strengthened and gained 4.20%. The S&P 500 (SPX) index gained 11.24% during the same period. The following picture compares both indices. In this report, I also provide data for the whole year of 2023 and include gains with paid dividends. Year 2023 on weekly chart of the UP World LNG Shipping Index with S&P 500 (UP-Indices.com) Last year, UP ...