BP withdraws from Iraqi oil field as expansion falls through January 21, 2020 BP has withdrawn from Iraq’s Kirkuk oilfield after it failed to come to a new agreement on the giant field’s expansion. The oil major’s contract, which expired at the end of last year, was worth $100m (£76.6m), and the British firm informed Iraqi officials it would pull staff out of the site in December, sources [...]
BP’s finance chief steps down after 34 years at oil giant January 21, 2020 After 34 years at the company, BP’s chief financial officer Brian Gilvary today announced his retirement from the oil major. Gilvary, who has been in his post for eight years, will be succeeded by Murray Auchincloss, who currently holds the same job in BP’s upstream division. Auchinloss will join the board on 1 July and [...]
Channel 4 under fire over BP Paralympics sponsorship January 12, 2020 Channel 4 has come under fire from climate activists after it announced that BP will sponsor its coverage of the 2020 Paralympic Games in Tokyo. Environmental evangelists have taken aim at the broadcaster for accepting money from the oil giant, which is one of the world’s largest contributors to fossil fuel emissions. Read more: Boris [...]
British Museum cools on BP ahead of Arctic exhibition January 5, 2020 Oil giant BP will not be a sponsor for the British Museum’s upcoming ‘Arctic: culture and climate’ exhibition, in a decision that is likely to be seen as a victory for climate activists. The institution has come under increasing criticism for its links to the fossil fuel firm, which has sponsored blockbuster exhibitions at the [...]
Oil giants face vast cuts to hit climate targets November 1, 2019 The world’s major oil and gas suppliers must cut combined production 35 per cent by 2040 to keep emissions within international climate targets. According to a new report released this morning from think tank Carbon Tracker, none of the majors are currently on track to be in line with the Paris agreement by 2040, despite [...]
Four things you need to know about BP’s results October 29, 2019 BP released its third quarter update this morning and with the oil giant announcing a $749m (£581.3m) loss, it was not pretty reading for investors. Fuelled by weaker oil prices and a hit from hurricanes, BP’s share price dropped nearly four per cent to 493p. However, the company still beat analyst expectations despite its poor [...]
Weak oil prices and hurricanes push BP to $750m loss October 29, 2019 Lower oil prices and hurricanes knocked BP to a $749m loss in the third quarter, the energy giant revealed today as chief executive Bob Dudley prepared to bow out. Read more: Saudi Aramco insiders say the kingdom has set a date for the IPO The figures BP fell to a $749m loss in the three [...]
BP CEO Bob Dudley to retire, Upstream boss Bernard Looney named successor October 4, 2019 BP chief executive Bob Dudley will quit his post at the top of the oil giant by the end of March 2020, the company said today. Bernard Looney will replace Dudley as CEO, leaving his current role as chief executive of Upstream. “It has been the privilege of a lifetime to serve this company and [...]
New Horizons: BP boss tasked with clearing up oil spill looks for exit after a decade at the top September 29, 2019 The head of BP, who stepped into the top job as the company faced the biggest crisis in its history, is preparing to step down as he nears his 65th birthday. Bob Dudley’s time at the company will be marked by the scramble to deal with the fallout from the Deepwater Horizon spill and fire [...]
BP chief Dudley to step down after decade-long tenure September 28, 2019 The chief executive of BP is set to step down after 10 years of leading the British energy company. Bob Dudley is planning to retire from the role within the next 12 months, according to Sky News. The American turned 64 this month and has held detailed discussions with BP chairman Helge Lund about his [...]