200,000 barrels a day: BP joins forces with Eni to create Angola’s largest oil and gas producer March 14, 2022 BP and Eni told City A.M. in an email that they have signed an agreement to form a new 50/50 independent company, Azule Energy through the combination of the two companies’ Angolan businesses. The agreement follows a memorandum of understanding between the companies agreed in May 2021. Azule Energy will be a new international energy [...]
Big Oil’s exit from Russia is finally a true confluence between profit and purpose March 3, 2022 In November last year, any company with enough money to stamp their name on the top of a letterhead was clamouring to prove they weren’t just in it to make money; they were good people too. The Cop26 climate change summit offered an opportunity for businesses of all stripes to issue press releases and host [...]
Editorial: Businesses deserve credit for what are very big decisions February 28, 2022 Politicians sometimes resemble managers of struggling football teams; bad results are often written off as bad luck and outside of one’s control, but when the ball bounces in off somebody’s backside for a much-needed 90th minute winner they are, per the man in charge, often the result of some training ground masterstroke. So it is [...]
Shares in BP slump sharply following decision to sell stake in Russian oil giant Rosneft February 28, 2022 Shares in BP slumped sharply after the markets opened lower again in London. The oil giant initially dropped by as much as seven per cent, before moving back to roughly 5.58 per cent lower at 363p per share following its decision to sell its nearly 20% stake in Russian oil business Rosneft. The FTSE 100 [...]
Editorial: Business should be just business, until it’s much more than that February 27, 2022 ONE assumes it wasn’t supposed to play out quite like this for Vladimir Putin. The Russian President surely anticipated a quick and easy military incursion into Ukraine – a military horribly overmatched, an inexperienced leader, and with the west unwilling to support. It is still so very early, but it does not appear that Putin [...]
BP ditches stake in Rosneft after Russian invasion of Ukraine February 27, 2022 BP will ditch its near 20 per cent stake in Kremlin-backed energy giant Rosneft, following Russia's invasion of Ukraine.
National Portrait Gallery cuts BP sponsorship after 30 years February 22, 2022 The National Portrait Gallery has today announced that it will be cutting its partnership with BP, ending a 30 year relationship with the oil and gas firm. The announcement follows years of growing opposition to BP’s sponsorship of the Gallery, including the BP Portrait Award. Critics have varied from artist Gary Hume speaking out against [...]
London markets turn to cigarettes and gold as geo-politics panics February 14, 2022 It appears investors in the blue-chip index were resorting to gold and cigarettes today, as London markets grapple with the declining geo-political landscape.
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.