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...BP will hold 51 per cent in the JV and Adnoc the rest....
..., the FTSE 100 oil major said in a statement on Thursday....
...BP has announced changes to its organisational structure and the departure of two senior figures, as the UK oil major seeks to close a yawning valuation gap with US peers and convince investors it can deliver...
...The hedge fund argues that BP’s return on investment in renewable energy is far below what it can achieve from oil and gas....
...ExxonMobil’s chief executive collected a pay packet last year worth almost four times that of bosses at rivals BP and Shell, underlining the vast disparity between European and US remuneration in the booming...
...“As a board, we are conscious of our responsibility to assess and monitor BP’s culture and to seek assurance from the leadership team that corrective action is being taken where practices or behaviours are...
...Exxon boasts a market value of about $480bn versus $300bn for Chevron, $230bn for Shell and $110bn for BP....
...Israel’s NewMed said talks over a $2bn bid by BP and the Abu Dhabi National Oil Company for a 50 per cent stake in the natural gas group have been suspended because of “uncertainty”....
...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...
...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....
...Expect further oil discoveries. Galp should know Namibia, having drilled in those waters for more than a decade. Its find proves that despite rumours to the contrary, oil exploration is not dead yet....
...In its most recent financial results, BP said it expected oil production to increase and production from natural gas and low-carbon energy “to be slightly lower”....
...Instead of cutting oil and gas production, it wants BP to increase it from today’s 2.3mn barrels per day to 2.5mn per day in 2030....
...BP is the only group committed to cut oil and gas production in the sector, meaning it will produce about 2mn barrels of oil equivalent a day at the end of the decade....
...Markets responded well last February when BP pared back its commitment to cut oil and gas production by the end of the decade, for instance....
...The US Securities and Exchange Commission said in a parallel civil complaint that Loudon and his wife, a BP mergers and acquisitions manager, worked “within 20 feet of each other” at home and frequently...
...Prompted by BP’s appointment today of interim boss Murray Auchincloss as its permanent chief executive to replace Bernard Looney, we’ve had a look at how recent gossip around the oil energy company failed...
...The job of chief executive, however, requires a broader set of skills, particularly at a time when BP is a lightning rod for criticism in the complex debate over the role of oil and gas companies in the...
...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”....
...And even then, western oil companies, such as Shell and BP, have withdrawn from the region after investing billions of dollars. And it isn't only profit margins at stake....
...In February, Looney and Auchincloss slowed the group’s planned retreat from oil and gas and provided more clarity in an update on strategy on when and how BP’s five “transition” businesses — biofuels, convenience...
...It also signals that BP will persist with a strategy, conceived and executed by Looney, of shifting into greener energy even as oil prices remain high....
...BP’s commitment to shrink the size of its oil and gas business remains the only hard target to cut output in the sector....
...The leadership uncertainty at BP had led to speculation that it could become a target amid a wave of consolidation in the oil and gas industry in the past six months....
...Mooted internal candidates Murray Auchincloss, the interim chief executive, Emma Delaney and Carol Howle, are all BP lifers....
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