3Q24 results highlight the dual narrative in TotalEnergies’ strategy: building a peer-leading renewables and power business in both scale and profitability, while also securing the top position in upstream and LNG growth ambition.

Despite stronger-than-expected 3Q24 earnings, driven by solid performances in Integrated Gas, Upstream, and Marketing segments, Shell continues to face challenges in its Renewables & Energy Solutions (RE&S) segment.

3Q24 results saw BP confirm it will provide an update on its medium-term plans in February 2025, and in the investor call said it would “obviously” update its financial targets and aims.

Equinor’s 3Q24 results highlight its Ørsted acquisition, boosting renewables at low cost, but ongoing challenges in profitability and setbacks in blue hydrogen raise concerns for its Low Carbon Solutions business.

Accela reviews the 2025 engagement priorities and 2Q 2024 results transition performance, all in one easy-to-read document.

Shell’s 2Q results saw significant developments in LNG, but set-backs in biofuels highlight a broader issue with Shell’s strategy.

2Q24 results indicate BP is at a crossroads, facing a choice between advancing its transition plans and providing short-term shareholder returns.

TotalEnergies once again demonstrated the successful build-out of its Integrated power segment in 2Q. The company has now surpassed earnings of $500m for the last 4 quarters for the segment.

Challenges remain for Equinor’s renewable segment as it faced another quarter of losses. The company announced a downgrade to its renewable generation target to 70% growth on FY23.

BP leads peers on its ambition for low-carbon EBITDA - can it deliver?

Shell’s first quarterly result after the release of its 2024 Energy transition Strategy indicates a shift towards a more conservative approach to capital allocation.

TotalEnergies 1Q24 results showed strong results for its Integrated Power segment, with earnings up 65% and capex accounting for 47% of group net investments.

Equinor 1Q24 result demonstrated strong growth in renewable power production, but more work is needed if it is going to meet its target of > 4000GWh by the end of the year

Eni’s 1Q24 results introduced a new low-carbon segment, with the company now reporting performance by its Plenitude and Enilive business under a unified segment.

Eni's Capital Markets Day on March 14th will provide updates on its strategic progress and future targets, with 4Q results highlighting concerns that capex could be at risk after falling short of FY23 guidance.

Equinor provided several updates for low carbon, but ultimately remains heavily entrenched in oil and gas.

TotalEnergies is in a balancing act, expanding into electricity to adapt to electrification while simultaneously refining its oil and gas operations to stay competitive in a declining industry.

4Q23 results provided a first look at Murray Auchincloss’ vision as BP’s new CEO. Auchincloss’ emphasised a ‘simplified’ strategy after a period of ‘generating options’ under previous leadership.

FY23 results reflect Shell’s strategic shift towards more conservative capital allocation, scaling back renewables in favour of low-carbon molecules, and increasing shareholder distributions.

3Q23 was a softer quarter for Shell's Renewables and Energy Solutions segment.