This report is from this week’s CNBC’s UK Exchange newsletter. Like what you see? You can subscribe here. The dispatch It is just over three years since Wael Sawan succeeded Ben van Beurden as chief executive of Shell. While there has been much background noise, not least about a possible takeover bid for BP, a less…
U.S. President Donald Trump speaks to members of the press before boarding Marine One on the South Lawn of the White House on Jan. 16, 2026 in Washington, DC. Tom Brenner | Getty Images U.S. President Donald Trump has threatened a rising wave of tariffs on several European allies, raising the alarm for industries and…
President Donald Trump met Friday afternoon with more than a dozen oil companies at the White House to discuss plans for investment in Venezuela, less than a week after the U.S. ousted President Nicolas Maduro. Exxon CEO Darren Woods, ConocoPhillips CEO Ryan Lance, and Chevron Vice Chairman Mark Nelson attended. Executives from Halliburton, Valero and…
LONDON — European stocks were in negative territory at the opening bell on Thursday, though defense stocks rallied over Donald Trump’s call for U.S. military spending to rise. The pan-European Stoxx 600 was last seen almost 0.2% lower at 9:54 a.m. in London (4:54 a.m. ET). Global markets have been focused on rising geopolitical tensions…
U.S. President Donald Trump holds a press conference as Secretary of Defense Pete Hegseth looks at him following a U.S. strike on Venezuela where President Nicolas Maduro and his wife, Cilia Flores, were captured, from Trump’s Mar-a-Lago club in Palm Beach, Florida, U.S., January 3, 2026. Jonathan Ernst | Reuters President Donald Trump on Saturday…
British oil giant BP has appointed Woodside Energy boss Meg O’Neill as its next CEO, replacing Murray Auchincloss after less than two years in the role. Auchincloss will step down today, with Carol Howle, BP’s executive vice president for supply, trading and shipping set to serve as interim CEO until O’Neill takes over the role…
This aerial picture shows the oil tanker Boracay anchored off the Atlantic Coast off Saint-Nazaire, western France on October 1st, 2025. French authorities said Wednesday they were investigating the oil tanker Boracay anchored off the Atlantic Coast and suspected of being part of Russia’s clandestine “shadow fleet”. Damien Meyer | Afp | Getty Images Oil…
The BP logo is displayed on a petrol tanker delivering fuel at a petrol station in Shepton Mallet on October 20, 2025 in Somerset, England. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday reported stronger-than-expected third-quarter profit as higher crude and gas production outweighed a weak oil trading…
The Shell gas station logo is displayed on February 13, 2025 in Austin, Texas. Brandon Bell | Getty Images News | Getty Images British oil major Shell on Thursday reported a significant drop in third-quarter profit on weaker crude prices. Shell posted adjusted earnings of $5.4 billion for the quarter, beating analyst expectations of $5.05…
Oil pumpjacks operate at Daqing Oilfield at sunset on November 18, 2024 in Daqing, Heilongjiang Province of China. Vcg | Visual China Group | Getty Images Energy supermajors are being forced to confront some tough choices in a weaker crude price environment, with generous shareholder payouts expected to come under serious pressure over the coming…
