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..., 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...
...BP’s interest in hydrogen suggests big energy companies see the potential for green hydrogen to generate revenue....
...BP will form a joint venture in Egypt with the Abu Dhabi National Oil Company as the UK oil major looks to expand its international gas portfolio....
...Darren Woods received salary, stock options and a bonus amounting to $36.9mn in 2023, the US’s biggest oil company reported in a securities filing on Thursday....
...BP has named Aviva’s chief executive Amanda Blanc as its next senior independent director in the first major shake-up of the energy company’s board since it oversaw the departure last year of boss Bernard...
...BP and the Abu Dhabi National Oil Company have suspended talks on a $2bn deal to buy a 50 per cent stake in Tel Aviv-listed NewMed Energy, as Israel’s war with Hamas enters its sixth month....
...The bloc has banned Russian oil and coal imports and the commission has proposed ending all fossil fuel imports from Russia by 2027....
...Now, Bluebell has turned its sights on troubled oil company BP, urging it to drop green commitments and increase production of fossil fuels....
...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”....
...The US oil major told my FT colleagues in Brussels that “recent developments in Europe have not instilled confidence in long-term, predictable policies”....
...in other companies to a value of more than $2mn....
...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....
...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...
...BP’s new boss Murray Auchincloss set out plans to win over shareholders on Tuesday as he pledged to turn the oil major into a “higher value company” even as he sticks with his predecessor’s strategy of investing...
...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”....
...The Australian refinery is one of five biofuel projects that BP has planned globally, the company said. But, make no mistake, oil is still king at BP....
...He joined the US oil company Amoco in 1992, becoming the fourth generation of his family to work in energy....
...greater clarity on long-term profits, lifting BP’s forecast earnings guidance for its oil and gas business in 2030....
...Activist investor Bluebell Capital Partners has called on BP to ditch its commitment to cut oil and gas output as well as other keys parts of its strategy to transform the company into a clean energy provider...
...Earlier this month Net Zero Teesside Power said that it had picked contractors for its planned carbon capture-fitted power station being developed by BP and Equinor....
...At the Adipec oil conference in Abu Dhabi in October, Auchincloss said he was “pretty optimistic” about the company’s direction....
...BP’s shares rose 3 per cent on Thursday while the Stoxx 600 index of European oil and gas companies was up 2 per cent. The deal is expected to complete in mid-2024....
...“Our strategy — from international oil company to integrated energy company, or IOC to IEC — does not change,” Auchincloss said. “I’m convinced about the significant value we can create.”...
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