Exclusive: BP poised to sell ‘stranded assets’ even if oil prices rally
BP ( BP.L ) is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants Continue Reading
BP lays out plan to slash oil and gas production to meet climate goals
BP just came up with a plan for tackling climate change that even Greenpeace is cautiously praising. As my colleague Steven Mufson reports, the British oil and gas giant on Continue Reading
BP lays out rapid cuts in oil and gas production to reach net-zero carbon emissions
With climate change bearing down on the planet and the novel coronavirus upending the fossil fuel business, one of the world’s biggest oil and gas companies on Tuesday mapped out how Continue Reading
BP halves dividend after record loss, speeds up reinvention
BP ( BP.L ) cut its dividend for the first time in a decade after a record $6.7 billion second quarter loss when the coronavirus crisis hammered fuel demand and Continue Reading
BP Reports $17.7 Billion Loss, Cuts Dividend
The British energy giant aims to increase its low carbon investments to $5 billion a year by 2030, from around $500 million, at the same time as seeing its oil Continue Reading
BP’s oil, gas output to fall 40% by 2030 amid transition to carbon energy company
BP expects its oil and gas production to fall by at least 1 million b/d of oil equivalent or 40% over the next decade, as it transitions to a lower-carbon Continue Reading
BP Exits Petrochemicals Business in $5 Billion Deal
LONDON—Energy giant BP PLC has agreed to sell its petrochemicals business to a British chemicals company for $5 billion, marking the largest deal by an oil major since the coronavirus Continue Reading
Is BP Finally Moving Beyond Petroleum?
Kneeling in prayer for a sin he doesn’t regret, Shakespeare’s Claudius, Hamlet’s fratricidal uncle, ruefully admits: “My words fly up, my thoughts remain below, / Words without thoughts never to Continue Reading
Why The $17.5 Billion Write-Down Is Just The Beginning For BP
BP, the British oil company, announced this week it would reduce the value of its oil and gas assets by $17.5 billion. Even though this represents a large potential asset Continue Reading
BP: Global Energy Demand Growth Already Slowed Before The Pandemic
Global growth in primary energy consumption slowed down to 1.3 percent last year from 2.8 percent demand growth in 2018, with renewables a major growth driver in 2019, BP said Continue Reading