BP p.l.c. (BP) vs.
Shell plc (SHEL): Two Oil Majors Cash In on the Iran War, But Tell Different Stories BP p.l.c. (NYSE:BP) and Shell plc (NYSE:SHEL) both posted big profit jumps this quarter, mainly due to the same Iran-war-driven surge in oil and gas prices that already drew a public attack from President Trump on Exxon and Chevron for making “too much money.” However, the two major European energy companies are telling very different stories underneath that shared huge profit
Why One Company Is Apologizing, and the Other Isn’t BP’s profit more than doubled as new CEO Meg O’Neill pushes an aggressive turnaround. She has openly admitted the company has “not delivered consistently” in recent years. By contrast, Shell plc (NYSE:SHEL) just posted its best quarter since 2022 while staying the steady course it has followed for years.
This marks its 19th straight quarter of buybacks worth at least $3 billion. This makes you question: is BP’s admission of past failure, paired with aggressive restructuring, the right way to catch up with steadier rivals like Shell? Or does Shell’s consistency prove BP’s dramatic reset was never actually necessary?