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The Latest Breaking News from British Petroleum

Shell and BP reveal record profit margins fuelling calls for windfall tax on oil and gas firms

Lib Dem leader Sir Ed Davey says it's "completely unforgivable" that the Government is yet to tax the super-profits of energy companies

Chronicle Live

City comment: BP boss Bernard Looney is doing himself no favours on windfall tax

Bernard Looney is not doing himself any favours.

Evening Standard

Calls for windfall tax grow as oil and gas giant Shell's profits soar to £7bn

Boris Johnson faces renewed demands to act as Brits face a cost of living crisis due to rising energy bills - while firms rake in massive earnings

Daily Mirror

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Evening Standard Comment: As Shell and BP make bumper profits, it could be time to consider a windfall tax

The timing is certainly awkward. Oil giant Shell has reported underlying profits of £7.2 billion in the first quarter of this year, up 43 per cent on the final three months of 2021, thanks to high oil and gas prices. It comes days after BP announced profits of more than…

Evening Standard

What is a windfall tax? Ed Miliband attacks loopholes in oil and gas levy

The Shadow Climate Secretary said the figures show government “failure to act on the windfalls of war being pocketed by the oil and gas producers”

Evening Standard

Shell reports record 1st-quarter earnings as oil prices soar

Energy giant Shell has reported record first-quarter earnings after a surge in oil prices

The Independent UK

Windfall tax: What is it, how would it work and how would consumers benefit?

Labour and the Lib Dems are calling for one; the Tories are resisting it. But how would it actually work?

Bristol Post

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Shell fuels calls for windfall tax with record profits haul

First quarter underlying earnings came in at £7.2bn – nearly three times higher than a year ago

Insider UK

Record Shell profits spark fresh demand for Tories to back windfall tax

THE UK Government is under increasing pressure to introduce a windfall tax on energy giants after Shell announced mammoth first-quarter profits…

The National (Scotland)

Call for huge tax on Shell as it makes £7.2bn profit in three months

On Tuesday, fellow FTSE 100 firm BP unveiled its highest quarterly underlying profits for more than a decade

Wales Online

Shell profits soar to record £7bn as energy crisis leaves families unable to heat homes

Energy giant Shell today reported record profits as oil and gas prices continue to skyrocket around the world. It comes as Boris Johnson continues to rule out a windfall tax on oil firms despite calls for one from opposition parties

Daily Mirror

Bumper £7bn Shell profits fuel new windfall tax row

Huge profits announced thanks to soaring oil and gas prices amid calls for windfall tax

Evening Standard

What 5 Analyst Ratings Have To Say About BP

BP (NYSE:BP) has observed the following analyst ratings within the last quarter:

Benzinga

Why the EU May Find it Tough to Squeeze Out Russian Oil

The European Union has proposed a phased embargo of Russian oil but may find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six months for crude, and…

Asharq Al-Awsat

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Benzinga

Wells Fargo Maintains Underweight Rating for BP: Here's What You Need To Know

Wells Fargo has decided to maintain its Underweight rating of BP (NYSE:BP) and raise its price target from $29.00 to $31.00. Shares of BP are trading up 0.16% over the last 24 hours, at $31.23 per share. A move to $31.00 would account for a 0.74% decline from the current…

Bristol Post

Green demands for Avon Pension Fund to stop investing in fossil fuels sparks row

But the meeting heard it is not a "not a binary issue"

The National (Scotland)

'Patronising' Tory minister tells struggling families to shop for 'value' deals

A TORY minister tasked with rebutting accusations that his government is out of touch has been branded “patronising and insulting” after…

Bristol Post

BP celebrates record profits - despite UK pensioner riding bus all day to stay warm

BP's underlying profits rose to $6.2 billion for the first quarter of this year

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Newcastle Herald

Whopping petrol price differences between Hunter suburbs

The NRMA is urging motorists to shop around before filling their tanks as whopping petrol price differences - as much as 30c/l - have been seen from one suburb to the next in Newcastle this week.

Wales Online

Energy firms investigated over 'rip off' increases to customers' direct debit payments

Claims customers are paying more than they should do to ease firms cash flow problems

The Independent UK

Minister tells struggling families to use ‘value brands’ – but insists oil and gas firms pay enough tax

Environment secretary passes on advice to help people ‘manage household budget’

Daily Mirror

'We are cutting out all non-essentials - life costs too much for a family of seven'

Jen Derrick believes the government should be on the side of the people, not big business. She says BP's £4.9bn profits show the divide between rich and poor is increasing

The Guardian - UK

Wednesday briefing: Would a windfall tax on BP’s soaring profits work?

In today’s newsletter: Nimo Omer breaks down BP’s enormous profits, and why some are calling for a windfall tax amid a cost of living crisis nationwide

Daily Record

The Tories do not deserve a cross in any ballot paper box as poverty plagues the nation

Record View says the Conservatives, who had already given us a decade of austerity, are ready to double down on poverty in post-pandemic Britain.

Daily Record

BP boss Bernard Looney takes home £4.5m as soaring gas and oil prices turn company into 'cash machine'

The chief executive, who grew up on a dairy farm in County Kerry in Ireland and was the first in his family to go to University, insists he understands how many households were “really, really struggling”.

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