Windfall tax plans rubbished by economists after oil giant’s losses last year February 9, 2022 Economists and BP's boss rejected calls yesterday for a windfall tax on energy giant announced healthy profits.
BP recovers from pandemic with £9.5bn profit February 8, 2022 BP has rebounded strongly from the pandemic with hefty annual profits of £9.5bn ($12.8bn), its best yearly result since 2013.
BP rebounds with 30-fold increase in profit amid surging oil prices February 8, 2022 Oil and gas giant BP has rebounded with fourth-quarter profits of $2.3bn and a replacement cost profit of $4.1bn.
Windfall tax looming: BP may end up in firing line if it reports expected 30-fold increase in profits February 7, 2022 Oil giant British Petroleum could end up in the firing line when it reports this week what analysts expect might be a more than 30-fold increase in its profit in the closing months of last year. The oil giant is expected to report an underlying replacement cost profit – its preferred measure – of around [...]
BP snaps up stake in biofuels firm to accelerate shift away from diesel February 3, 2022 BP has snapped up a major stake in the UK’s largest provider of low-emission hydrogenated vegetable oil (HVO) fuels as it looks to accelerate the transition away diesel usage in transport. The British energy giant has taken a 30 per cent stake in Green Biofuels, and will now work with the firm to spur growth [...]
BP earnings spike after energy prices rocket November 2, 2021 BP has reported soaring earnings in its third quarter results after costs of oil and gas skyrocketed this year. The oil giant reported underlying replacement cost profit of $3.3 bn, compared with $2.8bn for the previous quarter. It credited this result to higher oil and gas realisations, higher refining availability and throughout “enabling the capture of [...]
Fuel crisis: City traders circle BP and Shell as they take positions for more price hikes October 4, 2021 Investors are not banking on a swift resolution to the UK fuel crisis against a backdrop of continuing queues on forecourts and the Army being put on standby to help with deliveries, according to data shared with City A.M. this morning. Analysis of investor movements with regards to BP, Royal Shell and Glencore shows that [...]
Panic-buying: Almost a third of BP petrol stations running on empty September 26, 2021 Nearly a third of BP’s British petrol stations have run out of the two main grades of fuel, the oil company said. Motorists queued up at petrol stations over the weekend as Brits panic-bought fuel despite ministers’ insistence that there was no shortage. Oil firms had reported that a lack of delivery drivers was causing [...]
Ministers urge Brits not to panic buy food and fuel as shortages spread September 24, 2021 Government ministers urged Brits not to panic buy fuel and goods as the shortage of lorry drivers is increasingly hitting supplies across the UK. Yesterday, BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said some of its Tesco Alliance petrol forecourts [...]
BP names former RWE Renewables boss new low-carbon chief September 14, 2021 BP has today named former RWE Renewables boss Anja-Isabel Dotzenrath as its new head of renewable energy as it accelerates its push into low-carbon power alternatives. Her appointment comes after current head of low carbon and natural gas Dev Sanyal announced he was standing down after 32 years at the firm. An electrical engineer by [...]