Are bumper oil and gas profits luring BP and Shell into a stranded asset trap?

Michael Holder
clock • 8 min read
Credit: iStock
Image:

Credit: iStock

BP dilutes plans to reduce oil and gas output as it becomes the latest fossil fuel giant to post bumper profits following Russia's war in Ukraine – but could such short term thinking prove a risky bet?

As news of bumper oil and gas profits continues to roll in, the temptation for the likes of Shell, BP, and others to continue to maximise their record earnings from hydrocarbons is evidently proving impossible...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Study: Economic pressures becoming driving force behind sustainable living behaviours

Study: Economic pressures becoming driving force behind sustainable living behaviours

Study finds long-term affordability and sustainability are increasingly important for consumers when buying new appliances

clock 23 January 2026 • 3 min read
Interconnectors have delivered more than £1.65bn in consumer savings since 2023

Interconnectors have delivered more than £1.65bn in consumer savings since 2023

Study details how subsea links have provided 86TWh of lower cost, cleaner, and more reliable energy imports, capable of powering 10 million British homes

Stuart Stone
clock 22 January 2026 • 3 min read
 Wind and solar generate more power than fossil fuels in Europe for first time

Wind and solar generate more power than fossil fuels in Europe for first time

New Ember analysis attributes increase in renewables to 'staggering rise' in solar power

clock 21 January 2026 • 4 min read