Oil and gas heat a smaller pot for investors

Like an athlete on steroids, the London stock market has been pumping itself up on oil and gas industry profits. Record-breaking numbers from BP and Shell in the past two weeks have highlighted the impact that a soaring oil price is having on the industry’s profitability.

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But for all the euphoria over these developments – BP plans to return up to $65bn to shareholders over the next three years – there are concerns that the growing dominance of the oil and gas sector is leading to an undue concentration of risk and making it harder for investors to “read” the trends.

Financial Times