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BP's profit down 45% in Q2, cuts investment budget

British oil major reporting a 45 percent drop in second-quarter earnings and will cut its 2016 investment budget to below $17 billion.

British oil major reporting a 45 percent drop in second-quarter earnings and will cut its 2016 investment budget to below $17 billion.

Business

BP considers more spending cuts after 80 percent profit drop

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.

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.

Business

Shareholders burn Bob's bonus at BP AGM

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

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

Business

Oil price slump hits BP and Exxon

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.

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.

Business

UK oil giant BP cuts jobs

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

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

Business

BP to tighten belt further as oil price slump hits profits

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

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

News

BP finally agrees record breaking Deepwater Horizon settlement

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

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

Business

BP profits hit by low oil prices and high compensation

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

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

News

BP agrees €16-bn settlement over Gulf of Mexico rig explosion

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

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

Business

BP hires Britain's former spymaster

Energy giant BP, increasingly exposed in some of its exploration and extraction facilities to potentially fatal risks has added a heavyweight

Energy giant BP, increasingly exposed in some of its exploration and extraction facilities to potentially fatal risks has added a heavyweight

Business

Oil giants BP and Total defy price drop to contain profits

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

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