BP's latest quarterly earnings were almost halved while Shell announced its highest profit in five quarters thanks to the purchase of rival BG Group.
British oil major reporting a 45 percent drop in second-quarter earnings and will cut its 2016 investment budget to below $17 billion.
BP has said it could reduce its capital spending further after reporting an 80 percent drop in profits in the first three months of the year.
Shareholders at BP gave the boss’s bonus the thumbs down on Friday, wiping 17.7 million euros from Bob Dudley’s package for 2015. It was a rare
The bad news keeps pouring out of the oil industry. BP suffered its biggest loss in 20 years and Exxon Mobil has reported its smallest quarterly profit in more than a decade.
UK oil company BP is set to pay the price for plummeting prices. It has announced it is to shed 4,000 jobs globally, 600 of which will be lost from
BP has announced a third round of spending cuts and more asset sales to offset an extended period of low oil prices, following a slump in
US Attorney General Loretta Lynch has announced BP is to pay over $20 billion arising from the 2010 Deepwater Horizon oil spill in the Gulf of
British oil and gas giant BP’s second-quarter profits slumped by almost two thirds due to a combination of lower crude prices and ongoing charges
BP has agreed a to pay an estimated record 16-billion euro settlement over human casualties and environmental damage caused by the 2010 Gulf of
Energy giant BP, increasingly exposed in some of its exploration and extraction facilities to potentially fatal risks has added a heavyweight
A fall in profits but a resilient business. That’s the message from oil giant BP’s data for the three months to the end of March. Underlying profit
BP is the latest energy firm to report lower profits and say it will spend less on exploration because of falling oil prices. Full year profit was
A big downsizing has been announced at BP. As oil prices continue to fall, the British energy firm is to cut hundreds of jobs worldwide. The
BP’s profits were down in the third-quarter because of lower oil prices. It also suffered a sharp drop in income from Russia as Western sanctions
BP is facing additional fines of $18 billion relating to the 2010 Deep Water Horizon oil spill. Describing the oil giant’s role in the disaster, a
BP, the giant British energy producer that has strong links with Russian state oil company Rosneft, has warned of harmful effects from further
Russia’s Rosneft has signed another major deal with Britain’s BP. The five-year agreement will supply BP with up to 12 million tonnes of refined
BP has signed a deal worth around 14.7 billion euros to supply China National Offshore Oil Corporation with liquefied gas. BP is expected to source
The US government has lifted a ban on BP bidding for new federal contracts. That came after after the company reached an agreement with Washington
BP has pleased investors with forecast-beating quarterly profit. It also announced an increased dividend, plus plans for additional asset sales
The European Commission is looking into whether BP, Royal Dutch Shell and Norwegian company Statoil may have “colluded” to manipulate oil product
The Philippines’ Foreign Affairs department has confirmed that one of its nationals was wounded while escaping with a Japanese colleague before the
Transocean has agreed to pay the equivalent of just over one billion euros to settle US government charges over BP’s massive Gulf of Mexico oil spill
The oil giant BP has been temporarily suspended from new US government contracts because of its responsibility over the Deepwater Horizon spill in
It is the biggest criminal fine in US history. BP has been ordered to pay 4.5 billion US dollars as part of the settlement following the fatal
BP has pleaded guilty to criminal misconduct, including 11 felony charges and will pay a record US criminal penalty of 4.5 billion dollars after a
BP was the standout gainer on the FTSE100 on Tuesday thanks to its better-than-expected results. In the third quarter, the British oil company’s
BP is heading towards a fresh start in Russia after the announcement it has sold out its stake in the TNK-BP joint venture to state-owned oil giant
British oil giant BP will need subsidies from Azerbaijan’s government to prevent a further slide in output at its Azeri oil project. Oil executives