TotalEnergies (TTE) inks a deal to sell its entire interest in West of Shetland assets. This move is in line with TTE's strategy to actively manage its portfolio by monetizing mature assets.
BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition strategy, sources at the company said. The moves, which have not previously been reported, are part of a decision by Auchincloss to slow down investments in big budget, low-carbon projects, particularly in offshore wind, that are not expected to generate cash for years, said several sources at BP who declined to be named. They mark a stark reversal from the direction the CEO's predecessor Bernard Looney took to rapidly move away from fossil fuels.
BP, SHEL, XOM, LNG and OII emerge as the energy headline makers during the week.