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

'Using more clean energy than ever before': Apple confirms its emissions have fallen 60 per cent since 2015

'Using more clean energy than ever before': Apple confirms its emissions have fallen 60 per cent since 2015

Tech giant hails series of environmental milestones as it closes in on goal to become ‘carbon neutral’ by 2030

James Murray
clock 17 April 2025 • 4 min read
Trump's tariffs: A bumpy road ahead for global clean energy markets

Trump's tariffs: A bumpy road ahead for global clean energy markets

For now businesses may adopt a 'wait and see' approach, but soon a major re-think of sales and supply chain strategies may be needed, writes BloombergNEF's Antoine Vagneur-Jones

Antoine Vagneur-Jones, BloombergNEF
clock 17 April 2025 • 4 min read
How mine water could warm up the UK's forgotten coal towns

How mine water could warm up the UK's forgotten coal towns

Funding gaps, regulatory red tape and a shortage of skilled workers are stalling the UK's mine-water heating projects, according to the University of Manchester's Jingyi Li, Alejandro Gallego Schmid and Cathy Hollis

Jingyi Li, Alejandro Gallego Schmid and Cathy Hollis, University of Manchester
clock 16 April 2025 • 5 min read