How BP and Shell are charting new energy trajectories, part 1
The pursuit of new oil and gas growth opportunities by European companies highlights the way forward for the two majors. In this first of a two-part article, we look at BP
BP and Shell have much in common. Both addressed the outcry over moves to put climate sustainability over economic sustainability with new leadership and made a step-change in spending priorities. Both are also now playing catch-up with their peers. The two majors have both pivoted back to fossil fuels after a brief period spent focusing more on the energy transition in the early 2020s. The renewed commitment to oil and gas is evident in the ways they are now approaching their pursuit of growth. While there have been certain differences in their approaches, they have moved largely in parallel and it is perhaps no surprise speculation around a potential merger refuses to go away. Both compani
Also in this section
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
2 March 2026
The South Asian consumer’s next move could tighten the Middle East oil market overnight
2 March 2026
Canadian independent’s evolving portfolio in Trinidad and Tobago gives it access to the Atlantic LNG market and a close-up view of developments in neighbouring Venezuela
