Tag Archives: British Petroleum Co. (BP)

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 …

BP has invested $5m in cloud-based analytics software company Satelytics through its venture capital arm, as the oil giant continues its drive to deploy a suite of methane-detecting technologies to combat climate-harming greenhouse gas leaks across its fossil gas activities. US firm Satelytics claims to collect high resolution imagery from …

Oil and gas companies have looked beyond their own sector to diversify revenue streams, most notably in power. Now they are using digital technology expertise as another way to build new revenue. Shell and BP are two leading examples. Shell estimates that digital tools will contribute to one-fifth of its …

  Renewable energy consumption (including biofuels but excluding hydro) grew by 12.1%, below its historical average, although its increase in energy terms (3.2 EJ) was the highest on record and the largest for any fuel in 2019. By country, China was the largest contributor to renewables growth (0.8 EJ), followed …

The Intergovernmental Panel on Climate Change has said the world must cut carbon emissions to reach net zero by 2050 in order to limit global warming to 1.5 degrees Celsuis.

BP Plc will make the biggest write down on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy. In a dramatic revision that prompted questions about the affordability of its dividend, …

BP’s new chief executive said the impact of the coronavirus pandemic has deepened his commitment to shrinking the oil giant’s carbon footprint to zero. Bernard Looney, who took the helm of the oil giant in February, said he is “more convinced than ever” that BP must embrace the energy transition …

Asian spot prices for liquefied natural gas (LNG) have jumped by at least 20% in a week as supply of the super-chilled fuel tightens amid fewer cargoes arriving from the United States and as demand rebounds in the region, several traders said. Several cargoes have changed hands at $2.40 to …

When Lord Browne ran BP (formerly British Petroleum) from 1995 to 2007, those initials also stood, aspirational, for “Beyond Petroleum”. The company made renewable energy investments that complemented its green and yellow flowery trademark. But Browne’s corporate investments in renewables were early. His successor Tony Hayward abandoned renewables and resumed …

Some of the world’s largest oil producers are starting to see evidence of a rebound in demand from China, even as other economies around the world remain hobbled by the coronavirus. While it’s still early days into the Chinese recovery, limited initial sales data was encouraging, Irving, Texas-based Exxon Mobil …