BP Archives - Page 14 of 22

BP’s CEO chides AOC and Bernie Sanders for their ‘completely unrealistic’ Green New Deal ideas

January 22, 2020

CNBC Outgoing BP chief Bob Dudley on Wednesday criticized sweeping climate proposals from Sen. Bernie Sanders, a top-tier 2020 Democratic presidential candidate, and Rep. Alexandria Ocasio-Cortez, a champion of the far-left. “They have a completely unrealistic idea of the complexity of the global energy system,” Dudley told CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland. “It’s very complex.” Nearly a year ago, Ocasio-Cortez, with

BP names new CFO as Gilvary plans to retire

January 21, 2020

Houston Chronicle BP Plc handed more power to a new generation of executives, announcing that Chief Financial Officer Brian Gilvary will join his boss Bob Dudley in retiring this year. Murray Auchincloss, currently the finance chief of BP’s oil and gas production division, will succeed Gilvary. The energy giant already announced last year that Bernard Looney, who runs that unit,

Premier Oil plans $500 million rights issue for North Sea buying spree

January 7, 2020

Reuters LONDON- Premier Oil is set to buy North Sea assets from BP and increase its stake in the Tolmount gas project, funded by a $500 million rights issue, but faces opposition from hedge fund ARCM, which vowed to fight the plans. Shares in UK-based Premier surged as much as 19% after it said on Tuesday that it plans to

Big Oil shows new commitments to offshore African projects

December 17, 2019

Houston Chronicle A bevy of Big Oil majors are making new commitments to developing oil and gas projects in West Africa, specifically in Senegal, Mauritania and Angola. The British energy major BP said its three-well exploration campaign offshore of Senegal and Mauritania has proven successful, confirming the world-class scale of natural gas resources. Likewise, a consortium led by the French

Exxon, Chevron face new round of shareholder climate resolutions

December 16, 2019

Reuters LONDON (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of next

Factbox: IMO 2020 – a major shake-up for oil and shipping

December 13, 2019

Reuters Tougher rules on sulphur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades. IMO 2020 From January 2020, United Nations shipping agency the International Maritime Organization (IMO) will ban ships from using fuels with a sulphur content above 0.5%, compared with 3.5% now. The regulations are aimed

BP increases stake in solar energy firm Lightsource BP

December 5, 2019

Reuters LONDON – BP (BP.L) is increasing its stake in solar energy developer Lightsource BP to 50% from 43% and is aiming for rapid growth over the next few years, the two companies said on Thursday. European oil companies like BP have been stepping up investment in renewable power to diversify their businesses in the face of global moves toward

Oil is our gold and we aim to use all of it, ADNOC official says

November 13, 2019

Reuters: Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said. The world’s transition away from fossil fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil companies

Big Oil, investors face returns reckoning amid darkening economy

October 31, 2019

Source: Reuters LONDON (Reuters) – Darkening clouds over the global economy have led two of the world’s top oil firms to warn investors that promised growth in returns could be at risk for the first time since the 2014 oil downturn. Both BP and Royal Dutch Shell, which account for nearly 15% of the FTSE’s total dividends, signaled this week

BP says no decision yet on 2019 dividend hike

October 30, 2019

Source: Reuters LONDON (Reuters) – BP has yet to decide whether to boost its dividend by the end of the year, it said on Wednesday, after its shares fell sharply on the previous day on fears it would defer a decision to 2020. BP reported a 40% drop in third-quarter profits on Tuesday due to lower oil and gas prices,

Former Exxon chief Rex Tillerson to testify in climate change fraud trial

October 30, 2019

Reuters Former Exxon Mobil Corp Chief Executive Rex Tillerson is expected to take the stand on Wednesday in a closely watched civil lawsuit accusing the company of hiding the true cost of climate change from investors. The case in Manhattan state court, which kicked off last week, is the first of several lawsuits pending against major oil companies related to

https://www.reuters.com/article/us-oil-dividends/big-oil-investors-face-returns-reckoning-amid-darkening-economy-idUSKBN1XA1T7-oag360

BP profit beats as strong refining offsets lower oil price

October 29, 2019

Source: Houston Chronicle BP Plc reported profit that beat analyst estimates as a strong refining performance offset the effect of lower oil and natural gas prices, and bad weather that curbed production. The positive result will please investors expecting a gloomy third quarter for Big Oil. Crude prices have fallen as the U.S.-China trade war stokes demand concerns, while American

Premium Content