170 articles
BP's underlying replacement cost profit quadrupled to $8.46bn as Middle East conflicts boosted refining margins. The firm intends to use excess cash to settle Deepwater Horizon liabilities and divest
BP CEO Meg O'Neill firmly rejected rumors of a company breakup after reports suggested board members favored splitting the group. She reaffirmed the strategic imperative of maintaining BP as an integr
BP reported third-quarter underlying profit of $8.46 billion, surpassing analyst expectations. The company plans to use excess cash flow to address remaining liabilities from the 2010 Deepwater Horizo
Germany's Economy Minister approved a penalty scheme allowing developers to return offshore wind sites amid financial pressures, while state leaders urge legislative changes for retendering as major f
BP and Louisiana have settled two long-running disputes stemming from the 2010 Deepwater Horizon oil spill, including a $350 million early payment and resolution of coastal zone lawsuits.
Oil majors anticipate record third-quarter profits driven by Iran war-induced energy price spikes, prompting investor scrutiny on capital allocation strategies like debt reduction versus buybacks. Maj
BP forecasts a $3 billion to $4.5 billion after-tax impairment in Q3 2026 affecting low-carbon assets, while refining profits are set to improve significantly. Full third-quarter results will be relea
TotalEnergies expects Q3 refining margins to nearly quadruple to $33.2 per barrel as the Iran conflict drives up energy prices. Competitors Shell and BP are also reporting record or tripled margins du
BP anticipates $3-4.5 billion in impairments for its third-quarter results, primarily affecting its gas and low-carbon energy segment, while refining margins are projected to reach $46.7 per barrel.
BP canceled its attendance at the World Petroleum Council Energy Congress in Riyadh following a missile attack on the international airport that killed 13 people. Executives from other major oil firms
Riyadh's King Khalid International Airport faced renewed attacks after a strike killed 12 people. Security concerns caused major energy firms like BP and Shell to withdraw from the World Petroleum Con
Hurricane Isaias halted 72% of Gulf Coast oil production, evacuating crews from major platforms including BP assets. This supply disruption occurs amidst soaring freight costs and geopolitical tension
US Gulf producers halted 1.5 million barrels daily of oil and 1.3 billion cubic feet of gas as Hurricane Isaias approaches. Major firms including BP and Chevron evacuated platforms, disrupting nearly
Oil executives urge shifting from just-in-time to just-in-case supply chains due to regional disruptions. Major firms like TotalEnergies and BP plan alternative pipeline routes to bypass the Strait of
BP CEO Meg O'Neill emphasized improving shareholder capital stewardship by prioritizing legacy oil and gas assets over renewables. Investors await balance-sheet repairs and potential share buybacks as
BP CEO Meg O'Neill confirmed the company's continued presence in the Middle East and discussed new export routes with the Iraqi government at the Energy Intelligence conference.
LyondellBasell, SABIC, and BP sell over 10.5 million tons of European petrochemical capacity to Aequita and Ineos amid high energy costs, marking a strategic exit of integrated majors from the region'
Qatar's UCC Oil and Gas Holding is in talks to enter new Venezuelan oil and gas fields following a recent license for the Loran gas project with BP and ADNOC, confirming broad interest in sector oppor
BP has proposed a six-year labor contract with United Steelworkers Local 7-1 for its Whiting refinery, aiming to provide stability and aligning wage increases with the National Oil Bargaining Program.
BP has appointed Ben Monaghan as senior vice president for mergers and acquisitions and business development effective early 2027. Monaghan joins from investment bank PJT Partners, where he specialize
BP has appointed Ben Monaghan from PJT Partners as its new Head of M&A to lead portfolio streamlining efforts under CEO Meg O'Neill. The move supports plans to divest assets including its UK North Sea
BP is considering a potential sale of its Brazilian biofuels business, according to Bloomberg News, although Reuters could not immediately verify the report.
BP is evaluating a potential acquisition of Devon Energy's South Texas shale assets, signaling a strategic pivot back to traditional oil and gas. Analysts value the Eagle Ford asset at approximately $
Osaka Gas agreed to acquire a 5% stake in BP's Browse gas project via a joint venture with JOGMEC to strengthen its LNG supply portfolio. The utility expects to secure 550,000 tons of annual LNG from
Senegal targets a 30% reduction in electricity costs by boosting domestic natural gas production and renewables to offset expensive imports. Partners like BP and Woodside support key projects such as
British Prime Minister Andy Burnham will meet CEOs of major firms, including oil majors BP and Shell, to discuss economic growth and infrastructure. The agenda covers the pending Jackdaw gas field dec
BP commenced production at Egypt's Fayoum-4 well, boosting daily natural gas supply by 80 million cubic feet two years ahead of schedule. This project addresses Egypt's urgent demand amid declining do
BP locked out roughly 800 workers at its Whiting, Indiana refinery over contract disputes, following a trend among major oil refiners to use hardline tactics to cut costs and alter labor dynamics.
BP has appointed Ian Tyler as its new permanent chair following the controversial removal of Albert Manifold. The move aims to stabilize governance while the company refocuses its strategy on fossil f
Shell Offshore will acquire a 30% stake in BP's Conifer prospect in the Gulf of Mexico and a 50% interest in the Tupinamba block in Brazil, signaling a renewed focus on upstream oil and gas growth.
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