Tag Archives: Bernard Looney

Global oil major BP said the world must invest in the production of oil and gas to avoid to sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions. Global gas prices surged seven-fold last year as 3% of global gas supplies were hit following Russia’s invasion …

BP chief executive Bernard Looney’s pay more than doubled to £10 million (€11.3 million) last year after the UK-listed energy major delivered a record $28 billion (€26.4 billion) in profits. The payout follows a tumultuous year in energy markets driven by Russia’s invasion of Ukraine that led to historic earnings …

Oil company BP swung to profit in the second quarter amid higher oil prices and a broader recovery in the global economy this year after posting a loss in the same period a year earlier. The company earned $3.1 billion in the three months to the end of June, compared …

Global oil demand is set to rebound and remain robust for some time, BP’s chief executive Bernard Looney told Bloomberg News on the sidelines of an economic forum in Russia, reiterating views expressed by most forecasters and analysts. “There is a lot of evidence that suggests that demand will be …

Russian and UK oil giants signed a strategic collaboration agreement on carbon management and sustainability activities. Rosneft and BP will also jointly evaluate new projects envisaging the use of renewables, opportunities for carbon capture, utilisation and storage, as well as developments for hydrogen. Rosneft CEO Igor Sechin said:‎ • Joint …

BP is probably the first oil major that has made concrete plans for the end of oil — or at least the shrinking of its role. The company announced a big strategic pivot in August that would see it turn from an “integrated oil company” to an “integrated energy company”. …

Demand for oil may never fully recover from the dramatic fall triggered by the coronavirus crisis, a report by energy giant BP has concluded. The prediction that peak oil demand may already have passed is made in the latest edition of the closely-watched Energy Report Outlook by BP. This considers …

In February, BP announced a pledge to (mostly) reach net-zero CO¬2¬ emissions by 2050, a noteworthy change of course steered by new CEO Bernard Looney. BP had long dabbled in promoting an interest in greener pursuits, but these promises pointed toward a more serious shift. On Monday, the company released …

In the late 1990s, BP Plc boss John Browne used an oil-price slump to usher in the age of the supermajor, buying U.S. rivals Amoco and Arco to create a transatlantic giant. He kicked off a round of mergers that saw his company and four others dominate the industry — …

BP has agreed to sell its petrochemicals business to Ineos for $5 billion, the latest in a series of asset sales by the UK oil company as it tries to refocus on cleaner energy. Ineos will pay an initial deposit of $400 million, BP said in a statement Monday. The …