BP, Shell, TotalEnergies Trade Gains as Production
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- Shell reports ‘significantly higher’ Q1 trading profits, citing extreme market volatility from the Middle‑East conflict, while production falls to 880‑920k bpd.
- BP expects an ‘exceptional’ Q1 oil trading result, with Brent spot price spiking to $150 per barrel, and will report earnings on April 28.
- TotalEnergies says trading gains will be “significantly higher” thanks to higher oil and LNG prices, despite a 15% shut‑in of its global production from the war.
- Equinor also signals strong trading earnings, joining peers in cashing in on the crisis.
- Brent price jumped to $150 per barrel, fueling trading profits across the majors.
Why it matters: BP will report Q1 earnings on April 28, buoyed by trading profits despite a production dip.
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