BP surrenders near-term proceeds to retain US$5.6bn Alaska asset sale
“The revised agreement is expected to maintain the majority of the value of the transaction,” BP said.
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BP PLC
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BP is one of the world's largest oil and gas companies with operations in more than 100 countries across six continents. The company's main businesses are exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; transportation and marketing of natural gas; and BP Alternative Energy, a growing business in renewable and low-carbon power and next generation energy technologies.
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FTSE 100 closes firmly higher as prospect of lockdowns easing buoys sentiment
Britain's blue-chip benchmark finished on Monday up over 94 points, or 1.64%, at 5,846
BP target price cut by Credit Suisse as it braces for “more difficult” second quarter
The price target drops to 360p per share, but its still based on US$60 per barrel Brent crude assumptions
BP and Shell dividends now centre stage as banks fold
Demand is weak and the economic impacts of something like coronavirus are unprecedented.
BP slices 25% off capex budget as it responds to coronavirus crisis
Capex for 2020 is expected at US$12bn and it plans to cut US$2.5bn of costs.
BP pledges to go net-zero by 2050 or “sooner”
The oil major will reduce carbon and methane intensity as well as increasing the proportion of investment into non-oil and gas businesses “over time”
BP downstream chief steps down as management merry-go-around continues
Tufan Erginbilgic is the latest BP executive departing amid a broader management reorganisation.
BP shines light on low carbon efforts as “man for millennials” prepares to take reins
Bernard Looney takes over from Bob Dudley in the coming days, and, it is expected he may accelerate BP's "energy transition" efforts.
BP shares boosted as dividend raise softens weak trading blow
BP paid out another US$2.4bn in Gulf of Mexico oil spill payments in 2019, but it expects the figure for 2020 will be beneath US$1bn
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FTSE 100 joins global stock rally to finish firmly higher
The UK's premier index of shares closed up over 113 points at 7,439. The FTSE 250 gained over 279 points at 21,439
Brace for BP as Bob Dudley steps down
Tuesday also is due to see final results from Micro Focus International accompanied by an update on its strategic review
BP names new CFO as executive management switch approaches
New CFO Murray Auchincloss has worked alongside incoming group CEO Brian Looney for several years.
BP downgraded by Berenberg ahead of February’s CEO switch
“We think that the stock will be in a holding pattern through H1 ahead of the cash proceeds that BP will receive for disposals and the new strategy outlook from the incoming CEO," Berenberg's analyst said.
Oil majors gush higher as US-Iran tension ratchets up the price of crude
The killing last week of Qassem Suleimani, one of Iran's senior military commanders, has raised concerns that the Middle East's oil supply could be at risk
London dodges bullet as Saudi Aramco turns down party invitation
“What’s fair value for a company that produces one in every eight global oil barrels, is instrumental in supporting oil prices and owns the world’s fourth largest integrated downstream system?” analysts wondered
BP protests that "no decision made" on dividend yet
The oil giant's finance chief told analysts a day earlier that this year was unlikely to see a dividend hike
BP swings to quarterly loss, dividend news disappoints
Underlying profit in the quarter dropped 39% to US$2.3bn as the exploration, development and production business saw profits plunge 47%
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FTSE 100 finishes in red as traders fret about UK election uncertainty
The UK index of leading shares finished 25.02 points lower at 7,306.26. The FTSE 250 fell 41.83 points to close at 20,168.33
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Tuesday to see investors scrape the bottom of the barrel at BP; tense times for Plus500
BP’s shares have fallen 12% drop from their year-high in March as trade war tensions and intrigues in the Iranian gulf have sent oil prices sliding
BP doesn’t get enough credit for climate action - Barclays
BP took petroleum out of its name quite some time ago – now it faces the task of taking some out of the business model
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Production blown off course by Hurricane Barry, warns BP
BP also said it expects to deliver $10bn from its divestment programme by the end of the year
Climate protesters could become big investors in BP and Shell - Barclays
Three-quarters of Extinction Rebellion protestors would buy shares in BP and Shell if the oil supermajors shifted to renewables
Proactive oil and gas weekly highlights: BP, Tower Resources, Colombus Energy Resources
A look back at the main events in the oil and gas sector we reported on this week
BP boss Bob Dudley to leave in February
Bernard Looney, who currently heads up BP’s oil and natural gas exploration division, will take over as CEO
BP boss Bob Dudley eyes exit within a year - report
American-born Dudley was appointed chief executive in the wake of the Deepwater Horizon oil spill in 2010
BP to sell its entire business in Alaska to Hilcorp Energy Corp for $5.6bn
"We have other opportunities, both in the US and around the world, that are more closely aligned with our long-term strategy," said boss Bob Dudley
Those pushing an LSE listing for Saudi Aramco may need to be careful what they wish for
While a London listing for the trillion-dollar oil giant will bring in fat fees for the City's banks and law firms, it could leave pitfalls for investors