Has the U.K. Oil and Gas Industry valuation changed over the past few years?

Investors are relatively neutral on the British Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady. The industry is trading close to its 3-year average PE ratio of 16.3x. The industry is trading close to its 3-year average PS ratio of 0.66x.

Which industries have driven the changes within the U.K. Energy industry?

Investors are most optimistic about the Oil and Gas Refining and Marketing industry which is trading above its 3-year average PE ratio. Analysts are expecting annual earnings growth of 11.2%, which is higher than its past year's earnings decline of 6.9% per year.

U.K. (FTSE) Oil and Gas Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 25 Jun 2026	UK£266.7b	UK£379.6b	UK£16.9b	16.3x	15.8x	0.7x
Sat, 23 May 2026	UK£288.7b	UK£373.1b	UK£16.7b	18.1x	17.3x	0.8x
Mon, 20 Apr 2026	UK£285.2b	UK£368.8b	UK£13.2b	12.9x	21.5x	0.8x
Wed, 18 Mar 2026	UK£305.5b	UK£374.1b	UK£13.4b	11.4x	22.9x	0.8x
Fri, 13 Feb 2026	UK£251.2b	UK£348.7b	UK£12.9b	9x	19.4x	0.7x
Sun, 11 Jan 2026	UK£230.2b	UK£355.0b	UK£11.8b	9.3x	19.4x	0.6x
Tue, 09 Dec 2025	UK£241.5b	UK£357.4b	UK£11.9b	9.6x	20.3x	0.7x
Thu, 06 Nov 2025	UK£252.5b	UK£365.6b	UK£12.0b	11.7x	21x	0.7x
Sat, 04 Oct 2025	UK£237.7b	UK£354.9b	UK£10.0b	13.1x	23.7x	0.7x
Mon, 01 Sep 2025	UK£242.2b	UK£357.2b	UK£11.1b	11.5x	21.7x	0.7x
Wed, 30 Jul 2025	UK£235.6b	UK£362.1b	UK£9.1b	11.1x	25.8x	0.7x
Fri, 27 Jun 2025	UK£224.6b	UK£352.3b	UK£9.0b	9.5x	24.9x	0.6x
Sun, 25 May 2025	UK£213.1b	UK£357.5b	UK£9.1b	9.3x	23.5x	0.6x
Tue, 22 Apr 2025	UK£217.0b	UK£367.3b	UK£12.6b	9.6x	17.3x	0.6x
Thu, 20 Mar 2025	UK£251.6b	UK£375.8b	UK£12.8b	9.1x	19.6x	0.7x
Sat, 15 Feb 2025	UK£251.8b	UK£385.1b	UK£13.5b	11.1x	18.6x	0.7x
Mon, 13 Jan 2025	UK£244.7b	UK£413.3b	UK£15.5b	8.3x	15.8x	0.6x
Wed, 11 Dec 2024	UK£232.1b	UK£396.1b	UK£15.3b	9.3x	15.2x	0.6x
Fri, 08 Nov 2024	UK£235.2b	UK£389.3b	UK£15.0b	8.5x	15.7x	0.6x
Sun, 06 Oct 2024	UK£242.8b	UK£393.5b	UK£20.5b	10.2x	11.8x	0.6x
Tue, 03 Sep 2024	UK£250.1b	UK£393.1b	UK£20.4b	11.1x	12.3x	0.6x
Thu, 01 Aug 2024	UK£265.3b	UK£402.1b	UK£20.3b	12.8x	13x	0.7x
Sat, 29 Jun 2024	UK£269.0b	UK£409.8b	UK£22.2b	10.5x	12.1x	0.7x
Mon, 27 May 2024	UK£267.6b	UK£406.8b	UK£22.1b	10.8x	12.1x	0.7x
Wed, 24 Apr 2024	UK£282.8b	UK£434.3b	UK£28.7b	7.5x	9.8x	0.7x
Fri, 22 Mar 2024	UK£261.8b	UK£427.8b	UK£27.7b	7.4x	9.5x	0.6x
Sun, 18 Feb 2024	UK£251.2b	UK£430.6b	UK£26.9b	5.8x	9.3x	0.6x
Tue, 16 Jan 2024	UK£269.0b	UK£613.8b	UK£62.9b	3.8x	4.3x	0.4x
Thu, 14 Dec 2023	UK£271.9b	UK£621.3b	UK£63.6b	4x	4.3x	0.4x
Sat, 11 Nov 2023	UK£286.1b	UK£633.5b	UK£64.6b	4x	4.4x	0.5x
Mon, 09 Oct 2023	UK£290.3b	UK£649.0b	UK£58.5b	4.6x	5x	0.4x
Wed, 06 Sep 2023	UK£285.3b	UK£635.9b	UK£57.9b	4.4x	4.9x	0.4x
Fri, 04 Aug 2023	UK£282.2b	UK£630.9b	UK£58.4b	4.8x	4.8x	0.4x
Sun, 02 Jul 2023	UK£269.2b	UK£666.3b	UK£76.2b	4.4x	3.5x	0.4x


GB Market	-1.14%
Energy	-2.42%
Oil and Gas	-2.42%
Oil and Gas Refining and Marketing	-0.22%
Integrated Oil and Gas	-2.32%
Oil and Gas Storage and Transportation	-2.55%
Coal and Fuels	-3.21%
Oil and Gas Exploration and Production	-3.86%

Company	Last Price	7D	1Y	Valuation
DCC DCC	UK£62.05	0.6% +UK£29.9m	35.4%	PE19.5x
ENOG Energean	UK£7.12	1.4% +UK£17.5m	-21.3%	PS1x
AEX Aminex	UK£0.026	4.0% +UK£4.5m	136.4%	PS3120.4x
RKH Rockhopper Exploration	UK£0.70	0.7% +UK£4.3m	36.7%	PB2.3x
ENW Enwell Energy	UK£0.13	10.9% +UK£4.0m	-12.1%	PS19.6x

Announcement • 4h

Shell Unveils Triple 10 Challenge Concept Car Featuring Advanced Thermal Management Fluid

Shell has unveiled its Triple 10 Challenge concept car, a ground-breaking proof-of-concept vehicle designed to inspire a new design philosophy for the next generation of battery electric vehicles (EVs). This compact, mass-market EV demonstrates next-generation electric vehicle capability, and offers the industry an alternative to the current reliance on ever-larger batteries by re-imagining the fundamentals of thermal management. The vehicle meets three ambitious goals that Shell believes can help drive the future of mass-market electric mobility: Charge Faster - a sub 10-minute charge time; Go Further - 10-km/kWh economy; Drive Cleaner - a life cycle 10-tonne CO2e footprint. The Triple 10 Challenge is the first road-worthy vehicle to have successfully demonstrated the potential of a simplified, single-circuit cooling architecture to efficiently manage the thermal load of the car’s entire powertrain, even under the most extreme fast-charging scenario in real-world conditions. The Shell Triple 10 Challenge Concept car has been designed to achieve 10 km/kWh in driving economy with a smaller, more efficient battery system, adding over 30% improvement in overall energy efficiency compared to many current-generation EVs, enabled by Shell’s advanced thermal fluids that provide optimal thermal management. The Triple 10 Challenge vehicle is able to charge the battery from 10% to 80% charge in 9 minutes 54 seconds, without compromise to thermal stability or lifespan. While some EVs in market can charge in under 10 minutes, this requires using an ultra-fast charger in excess of 300kW, which is uncommon on the public charging network. However, the Triple 10 Challenge vehicle is able to attain this on the existing charging network infrastructure using a standard 175kW charger, adding 24km/minute range, compared to typical BEVs at an average 13km/minute range on the same charger – equivalent to almost 90% more range added per minute of charge. The Triple 10 Challenge concept car is estimated to have a lifecycle carbon footprint of approximately 10 tonnes CO2e. Enabled by its lightweight design, optimized battery capacity, low-carbon and recyclable materials, together with 100% renewable electricity for vehicle charging, this is estimated to represent around a 50% reduction in lifecycle emissions compared to typical battery electric vehicles in the European market. The key to the Triple 10 Challenge car’s performance is Shell Recharge thermal fluid. Unlike traditional cooling systems that use water-glycol, Shell’s dielectric fluid allows for direct immersion cooling of the battery and powertrain components including the motor and power electronics. By redefining heat management across the battery and powertrain, the team has unlocked the potential for faster charging, lighter systems and improved lifecycle efficiency – using technologies that exist and can scale. Unveiled at HORIBA MIRA’s proving ground, the concept car is the culmination of Shell’s Triple 10 Challenge. By incorporating a more compact and efficient battery pack design with fewer modules and using Shell’s advanced thermal fluid, enabling a simplified housing architecture, these improvements contribute to about a 25% reduction in overall battery pack cost compared to a conventional EV. Furthermore, Shell announced the integration of Shell’s full EV capabilities together under Shell Recharge – from charging, to fluids, to battery solutions, to create a stronger, single end-to-end offer for both B2B and B2C EV customers. As part of this, the Shell EV-Plus brand will be retired. The Shell Triple 10 Challenge Concept Car is a demonstration of the potential of immersive fluid technology and a showcase of British co-engineering excellence. Shell worked alongside leading automotive pioneers to integrate the Shell Recharge thermal fluid and maximise the performance of the car. Partners included: RML: Spearheaded the battery pack architecture and high-performance integration. RML’s engineering utilised Shell’s dielectric fluid to strip out the heavy, complex piping required by traditional water-glycol systems, successfully shrinking the pack and reducing overall vehicle mass. Empel Systems: Developed the advanced electric motor and drive units. By leveraging the highly efficient single-circuit immersive cooling, Empel was able to significantly downsize the motors while maintaining exceptional power density and contributing to the 10-km/kWh efficiency target. HORIBA MIRA: Conducted vehicle integration, testing and validation. Utilising their VTEOS (Vehicle Thermal and Electrical Optimisation System) rig, HORIBA MIRA validated the single-fluid architecture's efficacy, subjecting the system to simulated extreme global weather conditions – proving its backwards compatibility with standard radiators. Shell’s track record includes Project M, developed in 2016 as an ultra-efficient city car concept focused on addressing the challenges of mass mobility. In commercial transport, Shell’s Starship programme has continued to push the boundaries of freight efficiency since 2018 through successive generations of highly fuel-efficient Class 8 trucks. Most recently, Shell partnered with China’s largest truck manufacturer, FAW, to equip the latest Starship vehicle with an advanced hybrid battery incorporating Shell’s immersive thermal cooling fluid. Shell’s legacy of efficient mobility innovation extends back to the Shell Eco-marathon, which for more than four decades has provided a global platform for students to design, build and test some of the world’s most energy-efficient vehicles.

Announcement • Jun 09

Zephyr Energy PLC Provides Update On Paradox Project Pipeline Inspection And Regulatory Approval Process

Zephyr Energy plc provided an update on activity in the Paradox Basin, Utah, U.S. (the "Paradox project"), including the successful completion of the gas pipeline in-line inspection process (the "ILI"). This allows for the formal commencement of the regulatory approval process required to ship gas on the publicly regulated pipeline connected to Zephyr's leaseholding in the Paradox project. A team under the supervision of Enbridge Inc. (the owner and operator of the pipeline that will export gas from the Paradox project) completed a detailed technical evaluation of the results from the ILI on the 20.9 miles of pipeline running from Zephyr's Powerline Road Gas Plant to the Northwest Pipeline operated by Williams Companies Inc. Analysis of the ILI results confirmed that the pipeline is structurally sound at the current system operating pressure, with no repairs required and no immediate integrity concerns. To ensure integrity at the uprated operating pressure required to export Zephyr's gas to the Northwest Pipeline, four short sections of pipeline (totalling 25 feet in length) have been identified for visual inspection. Enbridge views such inspections as routine and are not considered a risk to achieving first gas export, even if any section should require a repair. The completion of the ILI is a vital step in the process of delivering first gas from the Paradox project and has enabled the commencement of the regulatory approval process required to increase pipeline operating pressure and transport gas to the Northwest Pipeline. Zephyr intends to provide an update on the timing to first gas when it receives further guidance from Enbridge on the regulatory approval schedule. In addition to the initiation of the regulatory approval process, Enbridge has continued other operational activities, including the piping and mechanical upgrades required to transport Zephyr's gas to market. Over the coming weeks, Zephyr and its third-party infrastructure consultants will finalise the design and initial capacity of its gas processing solution. As part of this process, planning for the drilling of additional Paradox project wells is also underway, in conjunction with detailed formal discussions related to asset-level funding opportunities. Zephyr believes that the successful ILI results will have a further positive impact on the Company's farm-out and hydrocarbon marketing efforts, both of which have advanced significantly over the last few months.

U.K. (FTSE) Oil and Gas Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Shell Unveils Triple 10 Challenge Concept Car Featuring Advanced Thermal Management Fluid

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