shell and bp

Fuel prices have seen another significant jump, with petrol and diesel costs rising by Rs 2.61 and Rs 2.71 per litre respectively. This marks the fourth increase in under two weeks, pushing cumulative hikes close to Rs 7.5 per litre. Consumers face mounting pressure as import costs climb due to global crude oil prices and a weaker rupee.

The successive hikes come after an extended period during which retail fuel prices remained unchanged, despite higher global crude prices, shrinking refining margins, and weakness in the rupee significantly increasing import costs.

Recent fuel price hikes have ignited debate over oil marketing companies' (OMCs) profits amid the Middle East crisis. Despite a reported Rs 77,821 crore profit for FY26, a closer look reveals thin margins, past losses, and a lag in reflecting current crude price impacts. These profits are crucial for investments and national energy security.

BP's profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with increased spending on low carbon energy.

Amidst the ongoing war with Iran, the Trump administration is releasing 45.2 million barrels from the Strategic Petroleum Reserve to curb soaring oil prices. This move, part of a global effort, involves lending crude to energy firms with repayment including a premium, aiming to stabilize markets without taxpayer cost. The reserve, holding significant oil, is expected to grow upon repayment.

Bermuda and the Bahamas aren’t exactly big players in the oil-and-gas world. They don’t produce any of the fuels at all. Yet the islands are deep wells of profit for European oil giant Royal Dutch Shell Plc.

Asia oil products trades - Feb 22 1140GMT:Asia oil products trades - Feb 22 1140GMT

Flagship explorer ONGC is set to see a change in its partnership for developing a lucrative gas find off the Andhra coast. Anglo-Dutch giant Shell and UK major BP have evinced interest in picking up the 15% equity that Brazil’s Petrobras is offloading in the acreage.

Asia oil products trades - Feb 21 1105GMT:Asia oil products trades - Feb 21 1105GMT

New Delhi, Jul 24 () Amid talk of splitting state-owned gas utility GAIL India Ltd, global energy majors Royal Dutch shell and bp plc have sought separation of natural gas marketing and transportation business before moving to a unified tariff for pipelines.

Asia oil products trades - Feb 20 1050GMT:Asia oil products trades - Feb 20 1050GMT

Shell on Friday agreed to acquire India-based renewable power platform Sprng Energy for $1.55 billion, boosting the energy company's low-carbon output as it shifts away from oil and gas. Shell said it would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis.

Saudi Aramco, which got listed this month, has become the most valued public company in the world.

A day before India shifts to a market dynamic system of daily revision of petrol and diesel prices, Oil Minister Dharmendra Pradhan today invited BP plc, Europe's third-biggest oil company, and Reliance Industries to invest in fuel retailing.

New Delhi, Jun 15 () A day before India shifts to a market dynamic system of daily revision of petrol and diesel prices, Oil Minister Dharmendra Pradhan today invited BP plc, Europe's third-biggest oil company, and Reliance Industries to invest in fuel retailing.

ONGC has appointed BP as a technical partner for enhancing oil and gas production from India's Mumbai High. BP won the 10-year contract, outbidding Shell, and aims to increase output by up to 60%. BP's role involves analyzing field performance and implementing technological improvements.

BP is divesting its entire US onshore wind energy business to LS Power, signaling a significant shift away from renewables and a renewed focus on oil and gas. This decision follows BP's recent scaling back of emissions targets and clean energy investments, driven by investor pressure to improve financial performance.

ASIA-CRUDE/TRADES:Asia Crude Oil Trades-Chinaoil sells March Basra Heavy to Chevron

ASIA-CRUDE/TRADES:Asia Crude Oil Trades-Statoil sells April Banoco AM to Japan

The battle between President Vladimir V Putin and a Russian oil tycoon has spread fears that Western companies will shy away from investing in the country's vast energy industry.

BP will hold 49% and Reliance the remaining 51% in the new company called Jio-bp, which will expand Reliance’s current 1,400 retail sites up to 5,500 over the next five years, the pair said in a statement on Thursday after announcing the venture last August.

BP Plc, Europe's second-largest oil company, has applied for licence to retail jet fuel or ATF at airports in India, oil secretary Vivek Rae said on Wednesday.

According to sources in Essar, the acquisition is expected to be completed in early 2008, subject to certain conditions.

Britain's BP on Tuesday announced a sharp fall in net profit for the third quarter, with the oil and gas giant hit by weak oil trading and refining margins. Profit after taxation slumped to $206 million in the three months to September, after a net profit of $4.9 billion in the same period in 2023, BP said in a results statement.