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British energy giant BP names Ian Tyler as chair after boardroom turmoil

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Business

British oil giant BP prepares to sell North Sea business

Amid higher windfall taxes and volatile global energy markets, BP's proposed sale could bring an end to around 60 years of North Sea production under the British energy giant’s ownership.

Business

BP sacks chairman Manifold in fresh blow to troubled energy giant

Albert Manifold is the third senior BP leader to exit under a cloud in three years, as the British energy giant's boardroom turmoil shows no sign of abating.

Business

How the Iran war boosted profits at BP and Barclays

Barclays' profits rose, but loan losses weighed on its first-quarter results. At the same time, oil giant BP’s earnings jumped, largely driven by an exceptional oil trading boom linked to the Iran war.

Business

Unlikely bedfellows: Castrol deal draws private capital into industry

The deal reflects a shift in how investors view businesses like Castrol — less as consumer brands, and more as industrial infrastructure embedded in the global economy.

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Energy Frontiers

BP’s VP on three decades in Azerbaijan and a shift to renewable energy

In partnership with Azpromo

British Petrolium’s Caspian Region Vice President Bakhtiyar Aslanbayli reflects on more than 30 years in Azerbaijan, highlighting milestones and ongoing projetcs.

Earth News

Are fossil fuel companies really investing in renewable energy?

Fossil fuel companies are involved in very few renewable energy projects, a new report reveals.

Business

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Business

Shell says it’s not in talks to acquire BP as takeover rumours swirl

BP’s share price jumped on the speculation that it could be acquired by Shell, following a report in the Wall Street Journal.

Business

BP sees major downturn as gas trading and refining divisions lag

BP's CEO has reassured investors that BP will be watching market volatility and will be focusing on strengthening its balance sheet to improve shareholder value in the long-run.

Earth News

Green shareholder activist group pauses activism over climate backlash

A “changing political landscape” and global trade tensions are partly to blame, according to the Netherlands-based group.

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.

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.

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.

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.

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.

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.