sefa ozel BP ( BP ) Tuesday said that its oil trading division is set for an “exceptional” first-quarter performance, with earnings boosted by volatility in energy markets amid Middle East tensions. Rising geopolitical conflict in the region has jolted energy markets, with Brent and crude oil prices seeing significant increases. Brent ( CO1:COM ) averaged $81.13/bbl in the first quarter compared t...
sefa ozel BP ( BP ) Tuesday said that its oil trading division is set for an “exceptional” first-quarter performance, with earnings boosted by volatility in energy markets amid Middle East tensions. Rising geopolitical conflict in the region has jolted energy markets, with Brent and crude oil prices seeing significant increases. Brent ( CO1:COM ) averaged $81.13/bbl in the first quarter compared to $63.73/bbl in the fourth quarter. The BP RIM averaged $16.9/bbl in Q1 '26 vs. $15.2/bbl in Q4 '25, the company said . The oil major's reported upstream production in the first quarter is expected to be broadly flat compared to the fourth quarter 2025 (2,344 mboe/d). Within this, gas & low-carbon energy is expected to be slightly higher compared to the fourth quarter of 2025 (788 mboe/d), and oil production & operations is expected to be slightly lower compared to the fourth quarter of 2025 (1,555 mboe/d), including price impacts on PSA and TSC entitlement volumes. In the gas & low carbon energy segment, realizations are expected to be broadly flat compared to the prior quarter. However, oil production & operations segment realizations are expected to have an impact compared to the prior quarter in the range of +$0.1B to $0.2B. "These include the significant impact of the price lags on BP’s production, particularly in the Gulf of America and the UAE where production is priced on one and two month lagged basis respectively. Compared to the prior quarter, reflecting production mix, cash costs are $0.1B higher and DD&A charge is broadly flat (fourth quarter 2025 $2B) due to a higher unit charge." Net debt at the end of Q1 is expected to rise to $25B - $27B from $22.2B at the end of Q4 2025, driven mainly by a $4B - $7B increase in working capital due to the prevailing price environment. More on BP p.l.c. 4 Reasons BP Could Correct BP: Oil At $100, Strong Buy BP p.l.c. (BP) Q4 2025 Earnings Call Prepared Remarks Transcript Eco Atlantic farms down 60% majority stake in Namibia ...
Liverpool legend talks memories of Istanbul, learning magic and his adventures in Malaysia with Johor Darul Ta’zim Luis García was “super cool”, he says. That, at least, was the plan, but things have a habit of working out differently. When the former Atlético Madrid, Barcelona and Liverpool player retired in 2016, it was the second time: he walked out of the game in 2014 and walked back in again ...
Liverpool legend talks memories of Istanbul, learning magic and his adventures in Malaysia with Johor Darul Ta’zim Luis García was “super cool”, he says. That, at least, was the plan, but things have a habit of working out differently. When the former Atlético Madrid, Barcelona and Liverpool player retired in 2016, it was the second time: he walked out of the game in 2014 and walked back in again six months later. But this time, he wasn’t going to be affected. All that suffering and satisfaction, the pressure, the emotion: that was no more. “I was always very competitive and once I had left football, I thought I wasn’t going to have those feelings I had before,” he says. “I still enjoy football, still play seven-a-side with my friends – every Saturday at 10am, Los Jareños Club de Futbol – but I thought I had lost that and it wasn’t coming back. In fact, I was trying to avoid it; I didn’t want it. So when it happened, it surprised me. I didn’t expect football to give me that again. But there I was, crying.” Continue reading...
Sponsorship income due to rise by more than 40% Champions League clubs to benefit from the growth Uefa is poised to bring in more than €1bn (£870m) a year in commercial revenues from club competitions from next year, with two more global sponsorship deals close to being agreed. Uefa’s commercial arm, UC3, is finalising agreements with an official payments provider and technology partner, which wou...
Sponsorship income due to rise by more than 40% Champions League clubs to benefit from the growth Uefa is poised to bring in more than €1bn (£870m) a year in commercial revenues from club competitions from next year, with two more global sponsorship deals close to being agreed. Uefa’s commercial arm, UC3, is finalising agreements with an official payments provider and technology partner, which would complete their roster of premium global partners and see sponsorship income rise by more than 40%. Six-year deals with AB InBev as Uefa’s official beer partner and Pepsi as soft drinks provider from 2027 to 2033 have already been agreed, while Nike last week entered exclusive negotiations to replace Adidas as Uefa’s match ball provider . Continue reading...
The Grand National, Masters, Paris-Roubaix and Champions League put it ahead of even July’s mighty trifecta The thought struck me on the last rattler back from the Grand National , as Avanti’s wifi faltered somewhere outside Crewe and the Masters stream on my phone froze yet again. I was watching the world’s best golf tournament, on a train journey back from the world’s greatest steeplechase, havi...
The Grand National, Masters, Paris-Roubaix and Champions League put it ahead of even July’s mighty trifecta The thought struck me on the last rattler back from the Grand National , as Avanti’s wifi faltered somewhere outside Crewe and the Masters stream on my phone froze yet again. I was watching the world’s best golf tournament, on a train journey back from the world’s greatest steeplechase, having seen the best football match of the season – Real Madrid against Bayern Munich – earlier in the week. Is there a better month in the sporting calendar than April? Augusta always delivers. Club football hits peak levels of drama and jeopardy. Then there is Aintree, Paris-Roubaix , the start of the County Championship cricket season and the World Snooker Championship. To round it off, the life-affirming sight of the great and the ordinary doing remarkable things at the London Marathon. “April is the cruellest month,” writes TS Eliot in The Waste Land. But he was not a sporting man and was living in very different times. Continue reading...
China is gaining from America’s trillion-dollar artificial intelligence spending spree despite Washington’s efforts to curb Chinese technology ties, as the US data centre boom ripples through Asian technology supply chains, according to research by Oxford Economics. Roughly US$2 trillion worth of data-centre projects are planned or under way in the US, according to a report by the consultancy, wit...
China is gaining from America’s trillion-dollar artificial intelligence spending spree despite Washington’s efforts to curb Chinese technology ties, as the US data centre boom ripples through Asian technology supply chains, according to research by Oxford Economics. Roughly US$2 trillion worth of data-centre projects are planned or under way in the US, according to a report by the consultancy, with as much as three-quarters of the cost tied to equipment such as semiconductors and servers. That...
The government hails the ‘green revolution’ as a solution to economic decline, but some young jobseekers say the rhetoric does not match their experience On paper, Jake Snell, 19, sounds like the perfect candidate for a role in the UK’s burgeoning green energy sector. He has high grades in maths and physics A-level, a distinction in BTec engineering and another distinction in an extended engineeri...
The government hails the ‘green revolution’ as a solution to economic decline, but some young jobseekers say the rhetoric does not match their experience On paper, Jake Snell, 19, sounds like the perfect candidate for a role in the UK’s burgeoning green energy sector. He has high grades in maths and physics A-level, a distinction in BTec engineering and another distinction in an extended engineering diploma. He has also done work experience at an engineering company. He is from Lowestoft, a coastal town in Suffolk, outside Great Yarmouth. Both towns contain areas that fall within the most deprived 20% in England and are part of a wider pattern of coastal places with low employment opportunities. Continue reading...
For three years, ceasefires have been ignored and we have descended back into chaos. Now there is a credible plan for peace on the table Freedom, peace and justice. Three words that united the Sudanese people and became the banner under which 30 years of dictatorship was brought to an end. An era of corruption, religious extremism, repression and conflict was over. I did not think that seven years...
For three years, ceasefires have been ignored and we have descended back into chaos. Now there is a credible plan for peace on the table Freedom, peace and justice. Three words that united the Sudanese people and became the banner under which 30 years of dictatorship was brought to an end. An era of corruption, religious extremism, repression and conflict was over. I did not think that seven years on from the glorious December revolution, our nation would be on the edge of irreversible collapse. Three years of senseless violence have pushed Sudan to the brink. The country is engulfed in the world’s worst humanitarian crisis , with hundreds of thousands dead and millions displaced. And for what? Continue reading...
ZenSaBi/E+ via Getty Images March revenues continue to impress Monthly revenues reach $1.47B as Q1 revenues hit $3.8B Asian and EMEA equity specials grow 55% and 95%, respectively, YoY Balances continue to grow despite a decline in asset valuations Government bond Q1 revenues reach $680M Global Securities Finance Snapshot - March 2026 Asset Class Rev ($M) Rev YoY % Change YTD Rev ($M) Avg Balance ...
narvo vexar/iStock via Getty Images Strategy overview Actively managed large cap value strategy that relies on fundamental research to capture the benefits of high excess capital yield and sustainable dividends. Key takeaways Equity markets declined in 1Q26 as easing inflation momentum gave way to heightened geopolitical risk and policy uncertainty. Growth-oriented segments led the pullback, while...
narvo vexar/iStock via Getty Images Strategy overview Actively managed large cap value strategy that relies on fundamental research to capture the benefits of high excess capital yield and sustainable dividends. Key takeaways Equity markets declined in 1Q26 as easing inflation momentum gave way to heightened geopolitical risk and policy uncertainty. Growth-oriented segments led the pullback, while value proved more resilient. Market participation narrowed, with sector performance becoming more mixed and energy emerging as a standout amid global supply concerns. For the quarter ended March 31, 2026, the SMA underperformed the Index on both a gross- and net-of-fees basis due to unfavorable stock selection. Stock selection in information technology, health care, and communication services sectors detracted the most from performance. Conversely, selection in consumer discretionary sector contributed to performance. Equity markets are navigating a more complex macro environment, influenced by geopolitical risk, policy uncertainty, and evolving growth dynamics. Leadership is rotating toward more defensive and quality oriented areas, reinforcing the importance of selective positioning and active risk management in a more volatile environment. Market review Heightened geopolitical risks and changing economic expectations pushed U.S. equity markets lower during the first quarter of 2026. Broad weakness in large-cap technology and software stocks, linked to concerns around artificial intelligence disruption, weighed on performance. The S&P 500 declined by –4.33% on a total return basis, while the Nasdaq Composite fell by –7.11% on a price return basis. Investors shifted market leadership toward more defensive and value-focused areas, allowing the energy, materials, and utilities sectors to outperform, while financials, consumer discretionary, and communication services lagged. Value stocks proved more resilient than growth stocks, and small cap stocks outpaced large caps as o...