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 [...]
Channel 4 and BP cut sponsorship ties for Paralympics coverage August 24, 2021 As the Paralympic Games begin today, it has emerged that oil giant BP is no longer a sponsor of Channel 4’s prime-time coverage of the event. An initial press release issued by Channel 4 in January 2020 announced that BP and Toyota would “share sponsorship equally” but a subsequent press release published last week stated that “Channel 4’s Tokyo [...]
BP’s dividend edges up as profit beats estimates on climbing oil prices August 3, 2021 BP this morning said it will increase its dividend by 4 per cent and will kick off $1.4bn worth of share buybacks after its profit sprinted past estimates and rose to $28bn in the second quarter, buoyed by higher oil and gas prices. The oil giant raised its dividend to 5.46 cents, beating analysts’ expectations [...]
BP fined by Oil and Gas Authority over licence breach in the North Sea July 26, 2021 BP has been fined £50,000 by the Oil and Gas Authority (OGA) for breaching a licence condition in the North Sea. The OGA said that BP failed to report the progress and results of two extended well tests in the Vorlich field, and has also served it with a sanction notice. Having previously consented to [...]
BP closes small number of petrol stations due to lorry driver shortage July 21, 2021 BP said that the current shortage of lorry drivers meant that it had had to close a small number of its UK petrol stations. The oil giant said that the majority of its shortages of petrol and diesel were being resolved within a day. But the warning is yet another sign of how deeply the [...]
BP Lightsource snaps up Spanish solar assets for £400m June 18, 2021 BP subsidiary Lightsource will invest €475m (£407.6m) in three solar power projects in Spain, which it today announced it had acquired from Grupo Jorge. The Aragon-based assets, which could support 1000 jobs, take the firm’s pipeline of solar generating power in the country to 3 gigawatts. That’s about 15 per cent of Lightsource’s total global [...]