Latest news with #MitchellFerman
Bloomberg
31-07-2025
- Business
- Bloomberg
Big Oil's Trading Desks Have a Warning Message for Investors
Welcome to our guide to the commodities markets powering the global economy. Today, reporter Mitchell Ferman assesses the new realities of doing business for Big Oil's trading desks. A recurring theme of second-quarter earnings is becoming clear: Big Oil's crude traders don't love geopolitics-led volatility.
Bloomberg
30-04-2025
- Business
- Bloomberg
Big Oil's Profits Are Taking a Hit Even Before Trump's Tariffs Start to Bite
Welcome to our guide to the commodities markets powering the global economy. Today, reporter Mitchell Ferman discusses how oil majors' poor earnings this quarter so far may potentially get worse amid the trade war. Signs are emerging that Big Oil's profits are sliding, with European supermajors reporting a challenging start to the year — and that's before they see serious stress.
Bloomberg
25-03-2025
- Business
- Bloomberg
FTSE 100 Live: UK Stocks Poised to Drop for a Fourth Day
Shell also says it will expand its sales in liquified natural gas, which has been the key driver of profit growth in recent years to 4% to 5% annually until 2030. This will allow the company to return even more cash to investors through share buybacks. As Mitchell Ferman and James Herron write, it's the first glimpse at Shell's long-term strategy after Chief Executive Officer Wael Sawan's two-year 'sprint' to shake up the company by cutting costs, improving reliability and shedding under-performing units. 'We want to become the world's leading integrated gas and LNG business,' Sawan said in the statement. 'Today we are raising the bar across our key financial targets, investing where we have competitive strengths and delivering more for our shareholders.' The pledges represent a firmer commitment to fossil fuels after the CEO began to pivot away from renewables in 2023. Investors have so far liked what they've seen from Sawan, with the company's shares up almost 20% in past two years, compared with a decline of more than 10% for fellow London-based oil major BP.
Bloomberg
27-02-2025
- Business
- Bloomberg
Breaking Up BP Would Risk Its Profitable Trading Edge
Welcome to our guide to the energy and commodities powering the economy. Today, reporter Mitchell Ferman looks at one of the more profitable businesses at struggling BP Plc. A peek behind the curtain – 'just a little one' – of BP Plc's strongest and most opaque business reveals why the British energy giant is hesitant to sell some parts of the company, no matter what Elliott Investment Management or any other shareholder wants. BP trades more than 10 times the amount of oil it produces and manages more than eight times the refined products for which it has capacity, Executive Vice President Carol Howle said during a strategic reset presentation Wednesday. Those trades supply power for data centers and feedstocks for petrochemicals makers, she said.
