OGA defends BP-Aberdeen scheme against ‘PR Coup’ accusation
The Oil and Gas Authority (OGA) has defended the BP – Aberdeen net zero partnership against a claim it may be a “PR coup”.
Bernard Looney
Peak Oil: BP, Eni, Shell lead Big Oil’s search for new business model
For most of the past century, Big Oil executives found it pretty easy to explain to investors how their businesses worked. Just locate more of the commodities that everyone needed, extract and process them as cheaply as possible, and watch the profits flow.
World needs Covid-scale emissions cuts every other year, says BP boss
The world needs emissions cuts on a par with those delivered by the Covid lockdown every other year for the next 25 if it is to reach net-zero by 2050, BP’s chief executive said today.
Implications of BP write-downs ‘are very real’ as some upstream assets become worthless
Energy giant BP is ”getting to grips” with a slump in the value of its offshore assets, with some now worth nothing at all, an industry expert said last night.
BP expects £10-13bn pound reduction in asset value
Oil giant BP has announced it expects to undertake a huge reduction in asset value during the second quarter of 2020, due to the combined hit of lower oil prices and the Covid-19 pandemic.
BP plans 10,000 job cuts
Energy giant BP has announced plans to cut around 10,000 jobs worldwide in response to the latest oil downturn.
Pandemic ‘deepens’ BP’s net zero transition but firm keeps quiet on finer details
Energy giant BP has told shareholders its net zero transition is “deepened and accelerated” by the Covid-19 pandemic, but kept quiet on the fine print.
Exclusive: BP’s North Sea chief Ariel Flores promoted
The boss of BP’s North Sea business is being promoted as part of a management overhaul at the energy giant.
BP cutting scores of senior leader roles as part of ‘reinvention’, report says
BP will cut its senior leadership team to about 120 positions from 250 in an effort to make the firm more “nimble”, a news report said.
BP boss Looney says he ‘would not write off’ risk of peak oil
BP’s new chief executive Bernard Looney revealed he has considered the possibility that peak oil demand could be one of the legacies of the Covid-19 outbreak.
Greenpeace stands ‘good chance’ of challenging BP North Sea permit, director says
Climate activist group Greenpeace has a “good chance” of challenging BP’s North Sea permit for the Vorlich field, according to the organisation’s director.
BP using ‘lessons’ from Deepwater Horizon to weather Covid-19 crisis
Energy giant BP has told investors it is using business lessons from the aftermath of the Deepwater Horizon disaster to weather the current Covid-19 crisis.
Job security ‘is a major concern’ says BP chief, but gives no answer on potential cuts
The chief executive of BP has said “job security is going to be a major concern” amid the Covid-19 pandemic but gave no answers on any potential cuts the energy giant might make.
BP sinks to £3.6bn pre-tax loss as Covid-19 and oil price plummet take effect
Energy giant BP fell to a £3.6billion pre-tax loss in the first quarter of 2020 as the coronavirus and oil price slump made its impact on the business.
Covid-19 crisis a ‘moment to reassess’ for smaller North Sea firms overlooking energy transition, top analyst says
The uncertainty surrounding the coronavirus pandemic could be a “moment to reassess” for many smaller North Sea oil and gas firms overlooking the energy transition, a top energy analyst has said.
BP announces 25% spending cut in response to coronavirus
Energy giant BP has announced a 25% cut in spending in response to the coronavirus outbreak.
BP CEO promises staff jobs are safe for at least three months
BP has promised its employees their jobs are safe over the next three months, while the oil major considers ways to cut costs with crude prices plunging.
BP reassessing 2020 AGM as venue being converted into coronavirus hospital
BP is reassessing the “chosen venue” for its 2020 Annual General Meeting as the planned site is being converted into a coronavirus field hospital.
More than a dozen North Sea projects face red light due to oil price plummet
More than a dozen UK North Sea projects are facing deferral in light of the oil price drop, an analyst has predicted.
We will still be producing North Sea oil in 2050, BP regional president predicts
BP’s UK offshore business remains “vital” to the group, its North Sea boss said at the end of a momentous week for the supermajor, which set out ambitious emissions goals.
BP results wrap: Profits sink but dividend raised as Dudley bows out
Lower oil and gas prices chopped BP’s profits in half during the final year of Bob Dudley’s tenure as chief executive, the firm revealed yesterday.
Greenpeace to challenge BP North Sea drilling permit following judicial review
Climate activist group Greenpeace has been given the legal right to challenge oil giant BP over a North Sea drilling permit on the eve of the firm appointing its new chief executive.
New BP boss reassures investors of commitment to ‘principles’
BP’s incoming chief executive vowed to stick to the “principles” embedded in the company by Bob Dudley.
BP energy transition boss teases ‘more to follow’ on eve of Bernard Looney’s coronation
A BP boss in charge of energy transition efforts has teased “more to follow” on the eve of Bernard Looney’s coronation as chief executive.
Simplification, sales and scope 3: Key priorities for BP’s new CEO
BP’s new CEO needs to “push” the energy transition agenda further to stop the supermajor falling foul of investors, particularly in Europe, analysts have said.