Oil giant BP completes £2.7bn purchase of US renewable energy firm Archaea December 28, 2022 Oil giant BP has completed the purchase of renewable natural gas (RNG) provider Archaea Energy for almost £3bn. The purchase of the Texas-based firm will help to expand its presence in the US biogas industry, accelerating its bid to decarbintion. It has been agreed for $3.3 billion (£2.7bn) in cash, as well as around $800 [...]
BP oil trader loses employment lawsuit after being stripped of whistleblowing protection November 10, 2022 A BP oil trader has lost an employment lawsuit against the firm after a tribunal ruled he was not entitled to whistle-blower protections. Jonathan Zarembok, who was fired from his job after flagging concerns about potential bribes being paid to Nigerian middlemen, claimed he was forced out unfairly. He raised concerns about “abnormally large” fee [...]
BP joins profits bonanza with £7.1bn earnings despite £2bn overall losses November 1, 2022 BP revealed losses of £1.9bn for the third quarter of trading this year, but massive underlying profits of £7.1bn for the three month window.
Two BP workers dead after refinery blaze September 22, 2022 Two BP workers have died following a fire at an oil refinery. The unnamed workers were stationed at bp-Husky Toledo Refinery in Ohio, the US. In a statement, BP said: “It is with deep sadness we report that two bp staff injured in a fire at the bp-Husky Toledo Refinery have passed away.” “Our thoughts [...]
BP to pay lower taxes than before Covid pandemic despite massive profits August 8, 2022 BP will pay a lower rate of taxes this year than prior to the pandemic, revealed the company's chief financial officer Murray Auchinloss.
BP’s profits bonanza reignites windfall tax debate with energy bills set for painful spike this winter August 3, 2022 BP unveiled bumper profits powered by soaring oil and gas prices yesterday, as households brace for painfully high energy bills this winter.
London’s FTSE 100 tips into red despite BP and Shell’s best efforts August 2, 2022 Historic profits at oil giant BP nearly pushed London’s FTSE 100 into positive territory today. The capital’s premier index edged 0.06 per cent lower to 7,409.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped over one per cent to below 20,000 points. Oil [...]
City giant under fire: BP’s £6.9bn profit labelled ‘obscene’ as energy bills and living costs skyrocket August 2, 2022 After oil giant BP said this morning that it made almost £7bn in profit, the result has been labbeled as “obscene”. Earlier today the company announced underlying replacement cost profits – its preferred measure – jumped to a far better-than-expected $8.5bn (£6.9bn) for the three months to June 30. But the announcement has caused anger [...]
BP boss confirms higher taxes in line with profits as Labour calls for investment relief to be scrapped August 2, 2022 BP boss Bernard Looney has confirmed the energy company will be paying more taxes in line with near-record quarter results.
Aviva chief Amanda Blanc joins BP as non-executive director August 2, 2022 British energy major BP today said it has recruited Aviva chief executive and insurance sector veteran Amanda Blanc to sit on its board of directors. The appointment is set to see Blanc sit on BP’s board as a non-executive director, whilst continuing in her current job as chief executive of British insurance giant Aviva. In [...]