BPNYSE: BP

Fuel prices dropped for the second consecutive month in June, but both diesel and petrol prices remain higher than the RAC believes they should be.  Petrol prices dropped by 3p to 145p a litre last month, while diesel fell by close to 4p to under 150p, but the automotive service group claimed it was "still too expensive" when compared against wholesale prices.

When the news arrived that BP (LON: BP) was scaling down its renewable energy ambitions, it didn't hold much of a surprise. In fact, for market observers there was a certain level of inevitability about it.

Reuters reports that new BP CEO Murray Auchincloss announced this week that his company will impose a hiring freeze and pause investments in new wind energy projects in an effort to make the UK-based major more competitive and attractive to investors. The moves come amid rising dissatisfaction from top BP shareholders over the company's strategies related to renewables and other investments aimed at improving its ESG ratings.

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.

BP (BP) closed at $36.08 in the latest trading session, marking a -0.47% move from the prior day.

Arcadis has delivered more than 7,000 EV charging stations around the world HOUSTON , June 24, 2024 /PRNewswire/ -- Arcadis, a leading global design and consultancy organization for natural and built assets, today announced the completion of bp's (NYSE: BP) latest high-speed EV charging site at the company's North America headquarters in Houston, Texas. The new bp pulse station is the first bp pulse branded Gigahub™ in the US for their EV charging business.

With the stock flat so far this year, at the current price of around $35 per share, we believe BP plc stock (NYSE: BP), a European integrated energy major, could go higher in the long term. BP's underlying replacement cost profit was down by almost half in Q1 2024, to $2.72 billion from $4.96 billion from the year-ago quarter.

BP PLC (LSE:BP.) new management team got the endorsement of analysts at Citigroup, who described two recent transactions as “favourable”.

In the most recent trading session, BP (BP) closed at $35.39, indicating a +0.8% shift from the previous trading day.