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Shell Oil Corporation, one of the largest in the world, will cut at least 15% of the workforce in its low-carbon solutions division and cut back

BP’s strong relationship with Russia has seen the stock lose ground since conflict in Ukraine erupted last week, while other oil stocks have rallied on higher prices.

Markets are expecting BP to follow in Shell’s footsteps by accelerating distributions to shareholders as cashflow improves thanks to higher oil and gas prices.

With oil and gas prices rising and the sale of its assets in the Permian basin wrapped-up, investors are expecting shareholder returns to accelerate in 2022.

Top UK Stocks to Watch: NatWest shares fall as profits jump 82% Joshua Warner April 29, 2021 8:51 AM NatWest follows its peers by reporting significantly higher profits, Shell continues to slash its debt pile as profits rise on higher oil prices, Flutter reports strong online growth, Unilever launches a new EUR3 billion buyback, and Smith & Nephew returns to growth after a tough 2020. ...

BP is likely to launch a new share buyback programme when it releases its results. BP surprised shareholders earlier this month when it revealed it had reached its net debt target of $35 billion earlier than expected, driven by a better-than-expected performance in the first quarter and faster than anticipated asset sales. With debt now under control, more can be funnelled elsewhere, including into shareholder’s pockets. BP pledged to return ‘at least’ 60% of surplus cashflow through bu...