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...Big oil groups have also joined the lobbying effort, with BP and Woodside Energy among fossil fuel companies that recently wrote to the government to “act prudently” in its guidance....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...“Investors would be hard-pressed to find an oil and gas company that doesn’t plan to replace its declining production from old fields by developing new fields, be they on the oil side or the gas side.”...
...Meanwhile, BP has finally announced a new permanent chief following Bernard Looney’s abrupt departure in September after failing to disclose past relationships with company colleagues....
...At the COP28 climate conference in December, companies representing about a third of global oil and gas production including ExxonMobil, TotalEnergies, BP and Shell pledged to stop routine flaring of excess...
...sign of pushback from US snack makers Economic growth: Switch to value stocks to prepare for inflation Inflation: German workers strike for higher pay as eurozone inflation surges Demand and supply: BP...
...So in order to increase production, the options are quite limited. And one way to do that is inorganic growth, ie going up and buying other companies and bolting on their production....
...Under the current structure, BP’s head of safety does not sit on the executive team and reports to the executive vice-president for production and operations, not the chief executive....
...In 2022, these funds raked in a net $10.9bn in North America, up from what had been a record $4.1bn the previous year, according to data from FactSet....
...Companies such as his should be able to continue investing in new production — and should be rewarded for doing so, he says....
...On the one hand, environmental, social and governance-based investing is under mounting fire from rightwing groups in America....
...Christopher Cassidy, vice-president at Schott North America, blamed the delays on the ramp up in production of Covid-19 vaccine vials. It expects to make 2bn this year....
...Those included tech companies such as Apple and Alphabet, consumer businesses like Johnson & Johnson and Unilever, and energy companies such as BP, ExxonMobil and Shell....
...figures plus NAHB housing market index Results: Bellway FY, BP Marsh & Partners H1, Goldman Sachs Q3, Hasbro Q3, Johnson & Johnson Q3, Lockheed Martin Q3, Moneysupermarket Q3 trading statement, Netflix...
...It points to one of the thorniest issues facing oil companies — they are being called on to accelerate investment and production to head off a damaging oil price leap, but face huge questions about the future...
...Ineos, owned by Jim Ratcliffe, has a sprawling business spanning petrochemicals, refineries and oil and gas production....
...Last month, the PGA Tour agreed to increase its stake in the European circuit’s media production company from the 15 per cent holding it acquired for $85mn in 2020 to 40 per cent....
...But the fortune that provided allowed him to acquire three Steinways and then, in 2013, America’s most venerable instrument maker itself....
...BP is coming from behind but is possibly stronger for it. “You cannot go against the grain of society and expect to be a long-term successful company,” he said....
...Executives at Aspen Pharmacare, a South Africa-based pharmaceutical company that has produced about 180mn doses of the Johnson & Johnson vaccine, fear they will have to permanently shut their two Covid jab...
...Andrew Edgecliffe-Johnson is the FT’s US business editor. Patrick McGee is the FT’s San Francisco correspondent....
...that would “drive away investors” and cut production....
...Blackstone believes streaming-focused companies have cost advantages over legacy production companies such as Lionsgate....
...The company has said it wants to have 100,000 barrels a day in biofuel production capacity by 2030, roughly equivalent to 10 per cent of current refining capacity. Enter Renewable Energy Group....
...Royal Dutch Shell says oil production peaked in 2019. Shell, BP and America’s Exxon have written off tens of billions of dollars on stranded, uneconomic assets....
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