BP CEO Bob Dudley to retire, Upstream boss Bernard Looney named successor October 4, 2019 BP chief executive Bob Dudley will quit his post at the top of the oil giant by the end of March 2020, the company said today. Bernard Looney will replace Dudley as CEO, leaving his current role as chief executive of Upstream. “It has been the privilege of a lifetime to serve this company and [...]
New Horizons: BP boss tasked with clearing up oil spill looks for exit after a decade at the top September 29, 2019 The head of BP, who stepped into the top job as the company faced the biggest crisis in its history, is preparing to step down as he nears his 65th birthday. Bob Dudley’s time at the company will be marked by the scramble to deal with the fallout from the Deepwater Horizon spill and fire [...]
BP chief Dudley to step down after decade-long tenure September 28, 2019 The chief executive of BP is set to step down after 10 years of leading the British energy company. Bob Dudley is planning to retire from the role within the next 12 months, according to Sky News. The American turned 64 this month and has held detailed discussions with BP chairman Helge Lund about his [...]
BP sells Alaskan fields and pipeline to Hilcorp for $5.6bn August 27, 2019 BP sold all its assets in Alaska to Hilcorp for $5.6bn (£4.5bn) today as the oil giant looks to divest $10bn in assets and re-focus on its core business. The deal includes all of BP’s upstream and midstream business in the US state, and its stake in a major pipeline, the company said. Read more: [...]
BP and Glencore struggling to offload contaminated Russian oil August 21, 2019 BP and Glencore are still trying to offload huge reserves of tainted Russian crude oil several months after problems were discovered. The UK-listed giants have around 600,000 tonnes of the oil which they are struggling to sell off, several traders told Reuters. Read more: Opec agrees to extend oil supply cuts by nine months A [...]
High-yielding BP shares chased higher after results July 30, 2019 | City Talk It’s a great income stock, and these numbers justify investor interest, writes our head of markets. BP’s (LSE:BP.) strategy is a marathon, not a sprint, and this latest update for the second quarter and half-year shows that the company remains reassuringly on track. Underlying replacement cost profit was strongly ahead compared to the previous quarter and [...]
BP powers ahead of analysts as oil major boosts profit by increasing output July 30, 2019 BP shares rose this morning as the oil giant’s second quarter profit beat expectations by increasing production volumes. The energy major reported that a seven per cent increase in oil and gas production counteracted this year’s fall in oil prices. Shares were up 3.3 per cent in early morning trading. The figures BP’s second quarter [...]
No Bucs: US football team lose damages case against BP for Deepwater Horizon spill May 29, 2019 An American football team which tried to claim damages over the BP Deepwater Horizon oil spill has been rejected in a US court. The Tampa Bay Buccaneers had sued BP for $19.5m (£15.5m) over lost revenues it claimed resulted from the 2010 spill. Read more: Greenpeace protesters blockade BP headquarters However, the US Circuit Court [...]
Brent crude oil prices plummet nearly five per cent after US inventories surge May 23, 2019 Brent crude prices dropped below $68 per barrel for the first time in almost two months today, putting pressure on FTSE-listed explorers, after US inventories surged to their highest point in nearly two years. The international standard lost more than $3 over the day, a 4.75 per cent drop, trading at $67.77 in the mid afternoon. [...]
Greenpeace activists blockade BP’s London offices in climate change protest May 20, 2019 Environmental protesters have blockaded BP’s central London headquarters this morning as they claim “this is a climate emergency”. Read more: Extinction Rebellion founder wants to upend the UK's financial sector Greenpeace activists have set up five steel containers outside all entrances to BP’s offices in St James's Square, W1. On Twitter, the group said: “Volunteers have [...]