BP to Exit Rosneft Stake and May Take a $25 Billion Hit
BP is moving to dump its shares of Russian oil giant Rosneft. BP Plc moved to dump its shares in oil giant Rosneft PJSC , taking a financial hit of Continue Reading
BP exit opens new front in West’s campaign against Russia
BP opened a new front in the West’s campaign to isolate Russia’s economy by deciding to exit its Russian oil and gas investments, the most aggressive move yet by a Continue Reading
BP profit hits 8-year high as it boosts low carbon plans
BP’s profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with Continue Reading
For BP, car chargers to overtake pumps in profitability race
BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP Continue Reading
bp acquires EV fleet charging provider AMPLY Power; first major step into electrification in the US
bp took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate Continue Reading
bp plans major green hydrogen project in Teesside; 60 MWe production by 2025, 500 MWe by 2030
bp confirmed it is planning a new large-scale green hydrogen production facility in the North East of England that could deliver up to 500MWe (megawatt electrical input) of hydrogen production Continue Reading
BP Goes on Hydrogen Hiring Spree in Bid for 10% Market Share
BP Plc has kicked off a hiring campaign to fill jobs in its fledgling hydrogen business. The U.K. oil and gas major is initially looking to fill some 100 hydrogen Continue Reading
Gas crisis helps to land BP $500 million windfall
BP’s trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company’s trading results said, as the energy major benefitted from Continue Reading
BP Starts Next Expansion Project Phase In Gulf of Mexico
BP has started up its Thunder Horse South Expansion Phase 2 project in the U.S. Gulf of Mexico. Supermajor BP has started up its Thunder Horse South Expansion Phase 2 Continue Reading
Amid UK driver shortage, BP prioritising fuel deliveries to sites with big demand
BP said on Friday it was prioritizing deliveries of fuel to British sites with the largest demand and seeking to minimize the amount of time when its petrol and diesel Continue Reading
Special Report: BP gambles big on fast transition from oil to renewables
Deep in the Oman desert lies one of BP’s more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant’s pioneering natural gas extraction Continue Reading
BP’s Renewable Projects Continue To Post Losses
BP is still losing money from its renewable energy ventures, while it is selling stakes in oil and gas developments. The UK-based supermajor’s current pace of moving into clean energy Continue Reading
BP sees potential for green hydrogen, ammonia plant in Australia
The production of green hydrogen and green ammonia is technically feasible at scale in Australia, but will require a major investment in port, electricity and water services, BP said on Continue Reading
BP Follows Big Oil Peers by Increasing Buybacks and Dividend
BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit. The oil majors — with the notable exception of Exxon Mobil Continue Reading
Iraqi minister says BP mulls quitting Iraq, Lukoil wants to sell up
Iraqi Oil Minister Ihsan Abdul Jabbar said in a video posted on Saturday on the ministry’s Facebook page that BP (BP.L) was considering withdrawing from Iraq, and that Russia’s Lukoil Continue Reading
BP Study: Peak Oil Demand and Long-Run Oil Prices
The point at which oil demand will peak has long been a focus of debate. bp chief economist Spencer Dale and Bassam Fattouh, director of The Oxford Institute for Energy Continue Reading
BP to stick with oil and gas for decades, CEO Looney says
BP will continue producing hydrocarbons for decades to come and will benefit from rising oil prices even as it reduces output as part of its shift to low-carbon energy, Chief Continue Reading
BP joins consortium seeking wind power off Norway
British oil major BP (BP.L) will join Norway’s Statkraft (STATKF.UL) and Aker Offshore Wind (AOW-ME.OL) to bid for permits to build offshore wind power projects off Norway, the companies said Continue Reading
BP CEO: Strong Oil Demand Growth Is Here To Stay
Global oil demand is set to rebound and remain robust for some time, BP’s chief executive Bernard Looney told Bloomberg News on the sidelines of an economic forum in Russia, Continue Reading
BP Buys 9GW of USA Solar Projects for $220MM
BP revealed that it has reached an agreement to purchase nine gigawatts (GW) of solar development projects in the U.S. from 7X Energy. BP, which expects the deal to complete Continue Reading
BlackRock goes against BP board in climate resolution vote
The world’s biggest asset manager and top BP (BP.L) investor BlackRock (BLK.N) said on Friday it had backed a shareholder resolution calling for faster climate action which the energy company’s Continue Reading
BP Starts Offshore Wind Recruitment Push
BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind Continue Reading
BP’s lobbying for gas shows rifts over path to net-zero emissions
Oil major BP (BP.L) has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role Continue Reading
BP Resumes Buybacks After Q1 Profit Triples
BP ( NYSE: BP ) is resuming share buybacks this quarter after more than tripling its first-quarter earnings from a year ago on the back of rising oil prices and Continue Reading
BP Seeks to Sell Electricity in Five States
BP wants to be your power supplier, too. The oil and natural gas giant is seeking permission to become a retail electricity provider to homes and businesses initially in Illinois, Continue Reading
BP forecasts further drop in oil, gas output this year as asset sales bite
BP on April 27 forecast a further drop in its upstream production this year due to the impact of asset sales on its portfolio, as it reported a 14% year-on-year Continue Reading
BP forecasts further drop in oil, gas output this year as asset sales bite
Highlights Q1 upstream output falls 14% on year despite OPEC+ easing Gas project ramp-up to help ease asset decline Sees market recovery, return to normal stock levels by year-end London Continue Reading
BP Strikes Oil Offshore Louisiana
BP on Tuesday reported an oil discovery on Green Canyon Block 821. BP (NYSE: BP) on Tuesday reported an oil discovery at the Puma West prospect in the deepwater U.S. Continue Reading
BP drops reserves replacement ratio as strategic performance target
BP has dropped its oil and natural gas reserves replacement ratio as one of the company’s key performance metrics, it said March 22, underscoring the company’s ambitious plans to become Continue Reading
Rosneft Stake Becomes Headache For Oil Major BP
While BP was unveiling its strategy to reinvent itself from an international oil company to an integrated energy company in London last year, thousands of miles away Russian giant Rosneft—in Continue Reading
BP sees more oil demand pain as pandemic hits fuel sales, refining margins
BP sees continued headwinds from COVID-19 related oil demand impacts in early 2021 but said it is making progress in cutting costs and debt as it pivots to becoming an Continue Reading
Pandemic drives oil major BP to first loss in a decade
BP plunged to a $5.7 billion loss last year, its first in a decade, as the pandemic took a heavy toll on oil demand, and the energy company warned of Continue Reading
BP Sells Stake In Oman Gas Field As Part Of $25B Divestment Plan
BP is selling 20 percent of its 60-percent stake in a gas block in Oman to Thailand’s national oil company for US$2.6 billion as part of its plan to receive Continue Reading
BP profits plunge 96% in fourth quarter as pandemic hits fuel demand
BP reported a 96 per cent drop in fourth-quarter profits as the hit to energy demand from the pandemic and weaker trading results took the UK oil major to its Continue Reading
BP Launches UK Pandemic Initiatives
BP (NYSE: BP) is launching two initiatives to support essential services and frontline workers across the UK as they ‎battle the pandemic. BP (NYSE: BP) has revealed that it is Continue Reading
Oil Major BP Significantly Downsizes Oil Exploration Division
As part of its ambition to reduce oil and gas production and raise investments in clean energy, BP has been cutting staffing levels at its oil and gas exploration division Continue Reading
BP’s oil exploration team swept aside in climate revolution
Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of Continue Reading
BP Boosts Its Bet on Trees
Investors propelled ESG funds to new heights in 2020, and federal agencies are watching. WSJ explains why regulators have ethical and sustainable investment funds under review. Photo Illustration: Alex Kuzoian Continue Reading
BP, Stricken by Low Oil Prices and High Debt, to Sell London Headquarters
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
BP swings back to small profit, refining weighs
BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and is weighing on fuel demand and refining Continue Reading
Rosneft warns BP and Shell creating ‘existential crisis’ for oil supplies
Russia’s Kremlin-controlled oil company has warned that BP and Royal Dutch Shell are creating an “existential crisis” for oil supplies that will lead to higher prices, attacking their shift towards Continue Reading
BP Hits 25-Year Low
Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low. Chief Executive Officer Bernard Looney Continue Reading
BP Sees Peak Oil, Even Without Major New Laws on Climate Change
One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios Continue Reading
What BP Got Wrong About Global Oil Demand
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
BP is remaking itself from oil and gas giant to an energy company
Every so often, corporations confront questions of life or death. IBM did it in the 1990s when its hulking mainframe computers faced the challenge of next-generation PCs. A new chief Continue Reading
BP: Oil Demand Growth is Dead
The world is past the era of growing crude oil demand, BP said in its annual energy outlook report , which was released today. The message of the outlook, according Continue Reading
Oil Major BP Makes First Ever Move In Offshore Wind Energy
BP is making its first move into the offshore wind market with a strategic partnership in U.S. offshore wind assets with Equinor in a deal worth US$1.1 billion. Under the Continue Reading
BP enters offshore wind with $1.1 billion Equinor deal
BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor, a significant step by the oil Continue Reading
BP to Sell London Headquarters as Work Style Shifts: Times
BP Plc plans to sell its headquarters in central London as it cuts jobs and adopts flexible working, The Times reported on Sunday. The oil major, which employs 6,500 office Continue Reading
BP Set For Biggest Downsizing Of Its Office Space Ever
BP plans the most massive downsizing of office locations and properties in its history amid remote work and office job cuts, the Guardian reported on Wednesday, citing senior officials and Continue Reading