Tag Archives: British Petroleum Co. (BP)

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 …

Oil majors are under growing pressure to stop drilling for crude to help curb climate change, but companies say they will wean themselves off fossil fuels at their own pace. The demand for change is coming from many sides: lawsuits, shareholders and the International Energy Agency have all turned up …

The five largest oil and gas companies recorded a cumulative revenue of $1.14 trillion in 2020, representing a loss of about 30.9% or $500 billion from the 2019 figure of $1.65 trillion, according to data acquired by Finbold. PetroChina’s last year revenue stood at $280.7 billion, a drop of 19.28% …

BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the U.K. and the U.S., a figure which could double by the end of the year. The recruitment …

Oil giants Eni and BP have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola, including all their oil, gas, and LNG interests in the country. The companies believe that combining their efforts in a new joint venture company would …

BP is in advanced talks to sell its 28 per cent interest in the Shearwater field in the UK North Sea to Tailwind Energy, an explorer backed by trading house Mercuria Energy Group, people familiar with the matter said. The companies may reach an agreement in the coming days, sources …

Europe’s major energy companies profited from a rise in oil prices to report big increases in first-quarter earnings on Thursday, putting the worst of the pandemic era slump in fuel demand behind them. Last year’s demand collapse forced BP, Royal Dutch Shell and Equinor to slash their dividends and preserve …

BMW Group and Daimler Mobility’s joint venture Digital Charging Solutions GmbH soon will be strengthened by a third shareholder – BP, which will invest an undisclosed amount to acquire a 33.3% share in the DCS. The DCS, initially launched by BMW and then joined by Daimler (50/50), is a developer …

BP’s trading arm made nearly $4 billion in 2020, according to a copy of an internal BP presentation seen by Reuters, almost equalling the record trading profit in 2019 despite the collapse in oil demand caused by the pandemic. Trading revenue for majors such as BP and rival Royal Dutch/Shell …

In the fast race between oil giants to achieve net-zero carbon emissions, BP announced on March 18 it is developing plans for the UK’s largest blue hydrogen production facility, targeting 1GW of hydrogen production by 2030. The project could help the UK government’s ambitious target for the country to be …