Trending News: EIB Global Commits USD 70 Million To Boost Energy Transition Investments Across Emerging AsiaMidsummer Expands Into Thailand With Flexible Solar Solutions, Strengthening Southeast Asia PresenceStandard Bank And Anthem Partner To Power South Africa’s Largest Single-Site Solar ProjectJP Morgan Flags Oil Price ‘Misalignment’Gulf industrial impact spreads as conflict continuesGulf industrial impact spreads as conflict continuesGoogle, DTE Partner on 2.7 GW Clean Energy Plan for Michigan Data CenterGermany Moves to Cap Fuel Price Hikes as War Drives Costs HigherUS Crude Oil Inventories See Surprise BuildSouth Africa Faces 2028 Gas Crisis As Industries Seek Urgent Energy AlternativesPoland pushes into chips with new EU-Taiwan pactBiogest and Local Power team up on Ireland biomethane projectsCO2 event: Gaps in EU’s CCU framework ‘stalling investment’Manchester to unveil clean energy investmentManchester to unveil clean energy investmentJapanese Refiner Idemitsu Moves Full-Scale into LNG BusinessU.S. Eyes $1 Billion Payout to Scrap TotalEnergies Wind ProjectsOil Tankers ‘Starting to Dribble Through’ Strait of Hormuz, Says White HouseChina’s Economic Hand Quietly Strengthens as Trump Hogs Spotlight: McGeeverChinese Oil Giants Return to Russian Crude After U.S. Sanctions WaiverAirlines Push Back Against EU Synthetic Green Fuel RulesCO2 market shifts from volume to value as buyers demand higher standardsLG to Supply Tesla With US$4.3 Billion of BatteriesUS Natural Gas Rallies With Oil on Lingering Mideast FearsIran War Spurs a Surge in Stock Sales From US Shale CompaniesIraq Negotiates with Iran to Reopen Vital Oil Shipping RouteOil Price Shock Forces India’s Top Refiners to Suspend Fuel CreditUAE Halts Shah Gas Field After Iranian Drone AttackEuropean CO2 Summit opens with questions around CO2 security front and centreEuropean CO2 Summit opens with questions around CO2 security front and centreEuropean CO2 Summit opens with questions around CO2 security front and centreEuropean CO2 Summit opens with questions around CO2 security front and centreSri Lanka introduces four-day week in response to Gulf energy crisisOil Prices Jump More Than 2% After Renewed Iranian Attacks on UAEUS Weighs Near $1 Billion Settlement With TotalEnergies for Abandoning Wind Farms, NYT ReportsSC Says No Clear Off-Ramps in Conflict, Ups Brent ForecastU.S. Diesel Prices Top $5 a Gallon as Hormuz Crisis Ripples Across AmericaTesla and LG Energy to Build $4.3 Billion Battery Plant in MichiganChina Built a Massive Oil Buffer Ahead of the Iran CrisisThailand Turns to Russian Oil as Hormuz Shock Hits AsiaStargate Hydrogen and Seacht Group target UK green hydrogen potentialTop Stories Of The Day: ReNew Secures $95M for C&I Platform; Rajasthan Unveils BESS Regulations 2026 and More…Fox ESS Announces Strategic Partnerships at Solar Solutions AmsterdamEgypt Advances Renewable Energy With Nefer Benban Solar-Plus-Storage Project In AswanReNew Energy Global Plc Secures $95 Million From Leapfrog Investments-Led Consortium To Scale C&I Clean Energy PlatformDOE greenlights 13% LNG export boost for Venture GlobalMNRE Mandates Aadhaar Authentication For PM-Surya Ghar Rooftop Solar Subsidy SchemeIran crisis in focus: infrastructure investments in doubtUkraine Eyes Major Black Sea Gas Development With Romania’s OMV PetromChina Silent After Trump Asks Beijing for Help in Strait of HormuzIndustry bodies call on EU to recognise organic compost and digestateUAE Gas Field Ablaze as Trump Pushes for Help on HormuzThe top 5 issues for Strait of Hormuz securitySPURRED BY GULF WAR, Alaska LNG Aims for Go-Ahead Decisions in 2026-27 and Exports in 2031TotalEnergies Finalizes Plan for Azeri Absheron Field’s Second PhasePetrobras to pay $450 million for full ownership of key Campos basin oil fieldsCambridge Atomworks, Mott MacDonald sign microreactor MoUPilot operation of accident-tolerant fuel completedAPS to seek fresh Palo Verde life extensionAtkinsRéalis collaborates with Nvidia on nuclear-powered AI factoriesTrump Upset as Key US Partners Shun Call for Hormuz Warship EscortsHormuz Crisis Sparks Urgent Call to Boost UK Gas StorageIraq To Restore Kirkuk-Turkey Pipeline as Iran War Chokes Off ExportsMiddle East War Revives Interest in Alaska LNGEU Considers Naval Action to Reopen Vital Strait of HormuzPakistan Oil Tanker Transits HormuzKent wins engineering and design contract for Prinos CO2 storage projectCOMMENTARY: US is Quickly Exhausting Tools to Absorb Iran War Oil Shock – Ron BoussoTrump Adviser Says Iran ‘Terror Premium’ Inflated Oil Prices for DecadesJapan Taps Emergency Oil ReservesFujairah Suspends Oil Loadings After Another AttackFossil Fuel Reliance Is Ripping Away Nations’ Security, UN SaysVenture Global takes FID on $20.7bn CP2 LNG expansionHelium supply constraints may force Singapore resetCadent receives 38 UK biomethane plant applicationsWhy Might Trump Find it Hard to Reopen the Strait of Hormuz?Oil Prices Mixed Amid Attacks on Gulf Export FacilitiesTrump Announces ‘Bombing Raid’ at Kharg IslandTop Stories Of The Day: Eastman Appoints Rakesh Agrawal for BESS & Inverter Ops; Websol Allots 12.1M Shares After Warrant Conversion and More…Eastman Auto & Power Appoints Rakesh Agrawal to Head HV BESS and Inverter OperationsSinopec Slashes Refining Runs as Hormuz Disruption Squeezes Crude SupplyEU Ministers Race to Shield Industry From an Escalating Energy ShockPeak Energy Deploys Passively Cooled Sodium-Ion Battery System with RWE AmericasUK backs clean power to boost energy securityUAE And Germany Strengthen Energy Partnership To Accelerate Global Clean Energy TransitionVietnam Needs $18 Billion Grid Investment To Support Rapid Renewable Energy Expansion – ReportPodcast | Europe’s gas crisis and the biomethane opportunity – with Chris HuhnePodcast | Europe’s gas crisis and the biomethane opportunity – with Chris HuhneUS Oil CEOs Warn Trump Administration that Energy Crisis Likely to Worsen, WSJ ReportsIran Denies Seeking Truce as Dubai Oil Port DamagedEPC contract awarded for Mexico turquoise hydrogen pilot plantBank of America: Sell Oil Above $100Trump Bombs Iran’s Kharg Island and Threatens to Hit Oil ExportsOil Prices Remain Volatile as Hormuz Tensions RiseLNG layup processes add to Gulf shipping complexitiesLNG layup processes add to Gulf shipping complexitiesChina’s Sinopec to Slash Refinery Rates amid Crude Supply ShockAlaska LNG Needs More Offtake Commitments Before Final Investment Decision, CEO SaysEmergency Stockpile Oil Coming Soon to Iran-Wracked Markets, IEA SaysFrench ministerial council reiterates need for nuclear revival

BP in reset mode as Q1 profits slip back

Gas
April 29, 2025

Global energy giant BP posted a $1.4bn profit in the first quarter of 2025, about half its first-quarter profit a year ago, as a mix of corporate and market challenges impacted performance.

CEO Murray Auchincloss pointed to market volatility and economic uncertainty for the weaker results. BP is also in the midst of a ‘resetting strategy’ and is reallocating capital.

The reset, , marks a fundamental shift, aiming to prioritise oil and gas while reducing investment in low-carbon energy and renewables – and followed a 35% drop in annual profits to $8.9bn.