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...“You don’t shrink yourself to greatness in these companies.”...
...After Singapore, the company headed to Vietnam, Laos, Cambodia, Malaysia and Indonesia....
...“Venture Global’s conduct has shaken confidence in the trustworthiness of American LNG suppliers at a critical time,” wrote Carol Howle, BP’s executive vice-president of trading and shipping....
...BP’s latest green growth push comes as activist investor Bluebell Capital Partners calls on the company to abandon its green commitments and increase production of fossil fuels....
...“North American companies place a greater emphasis on pay-at-risk,” said Stephen Diotte, compensation practice leader at the Bedford Group, a Calgary-based consultancy....
...Other energy companies are also looking to convert oil refineries for biofuels production....
...Now, Bluebell has turned its sights on troubled oil company BP, urging it to drop green commitments and increase production of fossil fuels....
...Auchincloss confirmed on Wednesday that BP’s transition “from international oil company to integrated energy company . . . does not change”. The overarching principle may not change....
...Yet there is little love lost between hedge fund Bluebell Capital Partners and BP. The London-based activist has called BP’s strategy to cut oil and gas production “irrational”....
...While BP insists that it is committed to cutting oil and gas production, the company has moved to slow its retreat in response to pressure from shareholders and as Russia’s full-scale invasion of Ukraine...
...However, he did not rule out adjusting the company’s oil and gas production target again. “I can’t tell you what the volume will be at the end of the decade,” he said....
...In the letter, seen by the Financial Times, Bluebell said BP’s pledge to reduce oil and gas production by 25 per cent by 2030 compared with 2019 levels meant it was destroying shareholder value by moving...
...Oil and gas production — still very much the engine of the company — posted $3.1bn of operating profit, higher than consensus estimates....
...Looney announced plans in 2020 to transform BP from an oil and gas producer into an integrated energy provider by cutting fossil fuel production and investing in green technologies....
...Chief among them: the airline’s long-standing credit card deal with American Express....
...However, Auchincloss added that BP would not follow Exxon and Chevron in acquiring additional oil production either....
...head of BP’s gas and low-carbon business....
...BP, in contrast, has committed to cut oil and gas production by 25 per cent by 2030, compared with 2019 levels, although that is down from a previous target of 40 per cent after it pared back the ambition...
...Anglo American has unveiled plans to slash metal production to cut costs and combat the slide in its share price that has been far deeper than rival mining companies....
...It accounted for about 4.5 per cent of global electricity production in 2022....
...BP said Venture Global’s actions were “a wilful breach of our contract”....
...BP remains wedded to its industry-leading commitment to cut oil and gas production, its new management said on Tuesday, as the company sought to reassure investors that the resignation of chief executive...
...He noted that, like BP or Volkswagen, Boeing is a very large, important company with a tradition of excellence and influence....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
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