logo
Shell says director of integrated gas and upstream to step down

Shell says director of integrated gas and upstream to step down

Reuters04-03-2025

March 4 (Reuters) - Shell (SHEL.L), opens new tab said Zoe Yujnovich, its director of Integrated Gas and Upstream, will step down after over a decade with the oil major, and named insiders Cederic Cremers as president, Integrated Gas, and Peter Costello as president, Upstream.
Cremers has been with Shell since 2002 and Costello has been with the oil company since 2016.
The changes come as Shell said on Tuesday it plans to simplify its senior leadership structure.
It added that from April 1, executive committee leaders representing Integrated Gas, Upstream, Downstream, Renewables and Energy Solutions, Trading and Supply, and Projects and Technology will adopt the title of "President" of their respective organizations, replacing the title of "Director".
The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Stocks sink and oil soars after Israeli strikes on Iran shake markets
Stocks sink and oil soars after Israeli strikes on Iran shake markets

Daily Mail​

time2 days ago

  • Daily Mail​

Stocks sink and oil soars after Israeli strikes on Iran shake markets

Global stock markets fell on Friday morning as gold and oil prices spiked after Israeli strikes on Iran overnight rattled investor confidence. The FTSE 100, which closed in on a record high in the previous session, fell 0.5 per cent at the open with losses buffered by strong gains in energy and defence stocks. Defence giant BAE Systems and energy giants BP and Shell led the blue-chip index in early trading, adding 3.5, 3 and 2.9 per cent respectively, after Brent Crude oil rose more than 5 per cent overnight to as high as $71.45. Derren Nathan, head of equity research at Hargreaves Lansdown, said: 'It's not just the outlook for Iranian [oil] exports that's a concern but also the potential for disruption to shipping in the Persian Gulf's Strait of Hormuz, a key route for about 20 per cent of global oil flows and an even higher proportion of liquified natural gas haulage.' Higher fuel costs and the potential for a hit to demand meant airlines were among the biggest losers on the London Stock Exchange, with British Airways owner IAG and EasyJet falling 4.8 and 4 per cent, respectively. European and Asian stock markets were also affected, with major indices suffering losses of around 1 per cent. Futures markets suggest Wall Street will see a greater fall when US trading opens later today. Gold rose 1 per cent gain to trade at $3,435/oz, around 1.8 per cent below its record high of $3,500 set in April and helping to lift the shares of London-listed miners Endeavour and Fresnillo. The FTSE 250 saw a sharper fall of 1.1 per cent as the dollar rose and sterling came under pressure, despite strong gains from energy stocks. ING FX strategist Francesco Pesole said it had been a 'rather negative' week 'for the pound's domestic drivers', citing the impact of disappointing GDP and labour market figures, and suggested sterling could face further weakness ahead. He added: 'Cable has potentially a wide room for downside correction given how expensive it looks relative to rate differentials. 'But we have seen how structurally bearish USD bets are preventing dollar gains from being sustainable. So we'd be more cautious on that side.' But Richard Hunter, head of investment at Interactive Investor said further geopolitical instability could be to the advantage of the FTSE 100. He said: 'Despite the initial reaction to the news overnight, the premier index could attract some renewed buying interest given the stability and maturity of many of its constituents, as well as its exposure to sectors such as defence and the financials, which have all been strong performers of late. 'Global investors have been seeking alternatives given the volatile backdrop and for the time being the likes of the FTSE 100 seem to fit the bill.'

European shares drop amid caution after Israel's attacks on Iran
European shares drop amid caution after Israel's attacks on Iran

Reuters

time2 days ago

  • Reuters

European shares drop amid caution after Israel's attacks on Iran

June 13 (Reuters) - European shares opened sharply lower on Friday after Israel's attack on Iran dented global risk sentiment and sent investors flocking to safe haven assets. The pan-European STOXX 600 (.STOXX), opens new tab was down 1.2% at 543.54 points as of 0707 GMT. The benchmark is on track to log a fifth session in the red, setting it up for a weekly decline. Israel launched strikes against Iran on Friday, hitting nuclear facilities and ballistic missile factories, to prevent Tehran from building an atomic weapon. Iran retaliated by launching 100 drones. The tensions add to caution in global financial markets as they grapple with the impact of U.S. President Donald Trump's tariff policy. The heightened tensions in the oil-rich Middle East sent prices of the commodity soaring, last up over 7%, weighing most heavily on airlines. The travel and leisure sector (.SXTP), opens new tab was down 3.1%. British Airways owner ICAG (ICAG.L), opens new tab tumbled 4.8%, Lufthansa ( opens new tab down 4.6% and EasyJet (EZJ.L), opens new tab dropped 4.3%. Cruise operator Carnival's (CCL.L), opens new tab London-listed shares slipped 5%. On the flip side, energy stocks (.SXEP), opens new tab soared, with Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab up 1.9% each. Shares of defence companies were also higher, with France's Dassault Aviation ( opens new tab up 1.3% and Italy's Leonardo ( opens new tab up 2.3%.

Oil and gold prices soar after Israel's attacks on Iran
Oil and gold prices soar after Israel's attacks on Iran

The Guardian

time2 days ago

  • The Guardian

Oil and gold prices soar after Israel's attacks on Iran

The price of oil and gold has soared and stock markets have fallen after Israel's strikes against targets in Iran. The escalation of the conflict in the Middle East, the focal point of global oil production, prompted a sharp increase in prices, with Brent crude up more than 10% after news of the attacks broke, reaching its highest level since January. The price later eased but was still up 5.5% at $73.12 a barrel, on course to record the biggest daily rise since 2022. In London, the FTSE 100 – which closed at a record high on Thursday – fell 50 points on opening. The oil companies BP and Shell were among the few risers. The increases hit the aviation industry, as airlines cleared the airspace over the region, and investors turned to safe investment assets such as gold and the Swiss franc. Shares in the British Airways owner, IAG, and the budget airline easyJet fell more than 4%. The price of gold rose 1.5% to $34,434 an ounce, close to the record high of $3,500 it hit in April, and the Swiss franc and yen rose about 0.4% against the dollar. 'The geopolitical escalation adds another layer of uncertainty to already fragile sentiment,' said Charu Chanana, the chief investment strategist at Saxo. Stocks dived in Asia, with Japan's Nikkei down 1.3%, South Korea's Kospi falling 1.1% and Hong Kong's Hang Seng dipping 0.8%. Pan-European Stoxx 50 futures fell 1.6% and US markets are set to follow suit when they open later on Friday, led by a sell-off in Wall Street futures. S&P E-mini futures fell 1.7% and Nasdaq futures dropped 1.8%. Israel, which said its attack was a 'pre-emptive strike' over Iran's nuclear programme, has declared a state of emergency as its military said Tehran had launched 100 drones in retaliation. Marco Rubio, the US secretary of state, called Israel's strikes against Iran a 'unilateral action' and said Washington was not involved. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The move to perceived safe haven assets has resulted in the yield on 10-year US Treasury notes falling to a one-month low of 4.31%. The US dollar index rose 0.5%, while the euro fell 0.4% and sterling slipped 0.5%. US and Iranian officials were scheduled to hold a sixth round of talks on Tehran's escalating uranium enrichment programme in Oman on Sunday. 'While we await further news and a potential response from Iran, we are likely to see a further deterioration in risk sentiment as traders cut risk seeking positions ahead of the weekend,' said Tony Sycamore, an analyst at IG.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store