BP

Business

Shell cuts gas production outlook due to maintenance and bad weather

The oil and gas company reduced its expectations for natural gas and liquefied natural gas (LNG) volumes for the first quarter of this year.

07/04/2025

Business

BP unveils multi-billion-dollar deal to redevelop Iraq's oil fields

The energy giant's announcement of the tie-up comes as it finalises plans to ditch renewables targets set under previous CEO.

26/02/2025

Business

BP expected to scrap renewables targets as part of performance reset

Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially abandoned.

25/02/2025

Business

BP to axe thousands of jobs after warning over oil and gas production

The energy giant announced earlier this week that weaker oil and gas production would hit its fourth-quarter results for last year.

16/01/2025

Business

BP moves offshore wind to joint venture as moves away from renewables

BP is creating a joint venture to bring about 'one of the largest global offshore wind developers' while lowering its share of investment in renewables.

10/12/2024

Business

BP bows to investor pressure as it abandons plans to cut oil output

BP has been facing increasing pressure from investors and stakeholders to cut down its green ambitions and to stay within the more profitable fossil fuels sector. Environmental groups are angry.

08/10/2024

Green News

PR firms should drop fossil fuel companies as clients, says new report

UN Secretary-General António Guterres has described advertising and PR industries as key facilitators for the fossil fuel industry.

24/09/2024

Business

BP boosts dividend and shifts focus towards higher shareholder returns

New boss Murray Auchincloss, who took the helm in January, has shifted the company's focus towards high growth and increased returns to shareholders amid weakened profit margins.

31/07/2024

Business

BP halts hiring new staff and puts break on renewable energy plans

BP has revealed that this move was mainly due to increasing discontent amongst investors about the company’s green transition strategy.

28/06/2024

Business

BP pledge to cuts costs as profits fall below expectations

Energy giant BP is to launch a major cost-cutting programme after Q1 profits were hit by falling gas prices and a refinery outage and earnings fell short of analyst forecasts.

07/05/2024

Business

UAE state oil company has BP in sights as potential takeover target

Adnoc’s takeover bid for BP is the latest in a string of acquisition bids for energy companies, such as ExxonMobil's agreement to purchase Hess Corporation.

12/04/2024

Business

Shell fuels fears of London exodus as it considers move to New York

Shell is considering a move to New York, as the divide widens between traditional investors, who want the company to focus on oil and gas, and activist investors, who want more renewables.

09/04/2024

Markets

Oil prices rise: What's pushing up the cost of crude?

Geopolitical uncertainties and supply fears boosted oil prices to fresh five-month highs on Tuesday morning.

02/04/2024

Business

Big oil pays for increasing production despite climate pledges

Companies with some of the most ambitious climate policies are among the worst offenders, finds a new report.

01/03/2024

Business

BP sees profits for 2023 plunge, but still second highest in decade

BP has been trying to transition into renewable and more sustainable energy for some time but has suffered a series of setbacks.

06/02/2024

Business

BP appoints new permanent CEO, Murray Auchincloss

Auchincloss will permanently replace predecessor Bernard Looney after acting as interim CEO since September.

17/01/2024

Business

BP pauses oil cargo on Red Sea as missile attacks affect global trade

Global trade is suffering a major setback from missile attacks in the Red Sea, where 10% of the world's seaborne trade passes through.

18/12/2023

Business

BP boss quits over relationships with colleagues

The CEO of UK energy giant BP has resigned after he accepted that he was not “fully transparent” in his disclosures about past relationships with colleagues.

13/09/2023

Green News

How rising sea levels could affect oil spill restoration in Louisiana

Works are underway to restore damage done by the world's biggest marine oil spill in 2010, but rising sea levels are likely to complicate efforts.

11/08/2023

Ukraine

Euroviews. This is how Big Oil continues to profit from Russia's war in Ukraine

Governments in Europe have a choice to make: do they continue to turn a blind eye to this blood money, or do they face it head-on and make sure the right thing is done, Lucy Hall writes.

13/07/2023