Strategy

BP’s chairman says ‘the world can’t continue along its current path’ and that the energy giant will become more transparent in response to investor demands

BP chairman Helge Lund promised a long-term transformation to a “low-carbon energy system” in a Financial Times editorial. At its annual general meeting on Tuesday, BP accepted a shareholder resolution to adopt transparency about how its strategy is in accordance with the Paris Agreement on climate change. BP and its […]
BP’s chairman says ‘the world can’t continue along its current path’ and that the energy giant will become more transparent in response to investor demands
Markets

Woolworths sells its fuel business to BP for $1.8 billion

Troubled supermarket group Woolworths has closed a $1.785 billion deal to sell its fuel business to BP. The cash will be used to strengthen the Woolworths balance sheet and reinvest in its core businesses. In early trade, Woolworths shares were up 2.2% to $24.41. The Woolworths petrol business turned over […]
Woolworths sells its fuel business to BP for $1.8 billion
Markets

BP drops oil drilling exploration in the Great Australian Bight

BP has abandoned an exploration drilling program in the Great Australian Bight off South Australia’s west coast. The British multinational oil and gas company says the project didn’t measure up to other opportunities in the company’s portfolio competing for capital investment. “We have looked long and hard at our exploration […]
BP drops oil drilling exploration in the Great Australian Bight
News

BP Accidentally Kills A Polar Bear

[credit provider=”Susanne Miller/USFWS via Flickr” url=”http://www.flickr.com/photos/usfwsendsp/5038885231/in/photostream/”] BP’s latest PR disaster took place on an Alaska oil field.A female polar bear was shot to death despite measures meant to prevent fatality.
BP Accidentally Kills A Polar Bear
News

PICTURES: The Gulf Oil Spill Hasn’t Gone Away Yet

[credit provider=”AP” url=”http://www.apimages.com/OneUp.aspx?st=k&kw=Gulf%20spill&showact=results&sort=creationdatelower%3Areversealphabetical&intv=30d&sh=10&kwstyle=and&adte=1302883597&pagez=60&cfasstyle=AND&rids=f2e6470ee5844297a4c7e650d4cc2997&dbm=PThirtyDay&page=1&xslt=1&mediatype=Photo”] Almost a year since the Macondo blowout, conservationists and ecologists continue to study the long term effects of the oil spill on the environment.Earlier this week, The Guardian exposed BP mails that show officials attempting to manipulate research on the impact of the spill by trying to […]
PICTURES: The Gulf Oil Spill Hasn’t Gone Away Yet
Markets

BP Makes Huge Push Into India’s Oil And Gas Industry

[credit provider=”Srinivas Akella” url=”http://www.flickr.com/photos/akellas/323018480/”] The British oil giant BP has said it would pay $7.2 billion to buy into India’s fast-growing oil and gas industry.It is yet another big deal for BP, as it seeks to recover from the after-shocks of last year’s Gulf of Mexico oil spill.
BP Makes Huge Push Into India’s Oil And Gas Industry
Markets

How Big Oil Could Lose $50 Billion If Qaddafi Falls

[credit provider=”ap”] You wouldn’t expect Big Oil to support a leader who threatens nationalization and makes deals involving terrorists.Except oil companies have signed around $50 billion in deals with Muammar el-Qaddafi over the next few decades. A post-Qaddafi regime could reject these deals and worse.
How Big Oil Could Lose $50 Billion If Qaddafi Falls
Markets

BP Signs $7.2 Billion Deal With India’s Reliance Industries To Explore Deepwater Fields In India

[credit provider=”BP” url=”http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7067388″] BP has announced a $7.2 billion deal with Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. explore deepwater fields in India. BP will get a 30% stake in 23 oil and gas blocks.The agreement allows for $1.8 billion in  future payments based on exploration success that would lead […]
BP Signs $7.2 Billion Deal With India’s Reliance Industries To Explore Deepwater Fields In India
Tech

Twitter’s Most Powerful Tweets Of 2010

[credit provider=”Robert Scoble via Flickr” url=”http://www.flickr.com/photos/scobleizer/2250735263/sizes/l/in/photostream/”] Over the last 12 months, Twitter grew by more than 100 million users, who helped the network pump out more than 25 billion tweets.What’s impressive about all those tweets is how, 140 characters at a time, they changed the way we lived 2010.
Twitter’s Most Powerful Tweets Of 2010
News

BP Says “Static Kill” Is Successful, Well Finally Plugged

[credit provider=”United States Coast Guard” url=”http://cgvi.uscg.mil/media/main.php?g2_itemId=841814″] BP has announced that operation “Static Kill” has been successful and that the leak in the well in the Gulf of Mexico has been plugged, according to the Wall Street Journal.Static Kill was achieved through the use of mud fluid, which is essentially “heavy […]
BP Says “Static Kill” Is Successful, Well Finally Plugged
News

The US Is About To Declare The Oil Spill A Benign, Non-Harmful Event

[credit provider=”Deepwater Horizon Response”] At the end of the year, this may prove to have been the biggest black swan of all. No, not the oil spill, but the fact that contrary to everyone’s expectations (and the horrifying live cam), that the oil spill turned out to be kind of […]
The US Is About To Declare The Oil Spill A Benign, Non-Harmful Event
News

This Is The Final Lesson Of BP

BP is starting over. It just named a new American president and its finances are looking up. BP’s second-quarter report showed surprisingly strong revenues of $75.9 billion, beating Wall Street’s estimates. (This includes a $32.2 billion writedown along with the $20 billion liability fund that the Obama Administration wanted.) The […]
This Is The Final Lesson Of BP
News

This BP CEO Swap Is Useless

Across the weary Gulf Coast, BP’s dismissal of Tony Hayward failed to garner any goodwill. The Daily Beast’s Rick Outzen on how four months of spin, lies, and delays have jaded a region.
This BP CEO Swap Is Useless
News

Russian Oligarchs Say No To Buying Out BP

The Russian oligarchs in charge of the other half of the TNK-BP joint venture have dismissed reports that they are considering buying BP’s position, according to Ria Novosti.
Russian Oligarchs Say No To Buying Out BP
Markets

Actually: BP Did Awesome In Q2

BP has reported unsurprisingly bad headline results for the second quarter of 2010, losing $17.15 billion. This compares to a $4.385 billion profit in the second quarter of 2009.
Actually: BP Did Awesome In Q2
Markets

BP LOSES $17 BILLION, TONY HAYWARD OFFICIALLY GONE

BP has announced a gigantic, $17 billion quarterly loss, as it’s taken a $32 billion charge in Q2, owing, obviously to the disaster in the Gulf. Of the $32 billion is the $20 billion set aside fo the Deepwater escrow fund.
BP LOSES $17 BILLION, TONY HAYWARD OFFICIALLY GONE
Markets

Get Ready For BP Earnings

[credit provider=”Greenpeace”] BP, the gigantic polluter of the Gulf of Mexico, that also happens to be a major player in the energy industry releases earnings tomorrow.Danny King at Daily Finance has a preview of some of the key numbers:
Get Ready For BP Earnings
News

Can Bob Dudley Fix BP?

[credit provider=”CNBC”] Tony Hayward sunk himself with his media gaffes and poor political performances. Can Bob Dudley do better? Tom Bower on the challenge of rebuilding the company’s badly tarred reputation.Tom Bower’s new book, Oil: Money, Politics, and Power in the 21st Century, is out now.
Can Bob Dudley Fix BP?
Strategy

Why Tony Hayward Failed As CEO

It’s not unusual to see a CEO depart in the wake of a corporate disaster. But the departure of BP chief Tony Hayward following the gulf oil spill provides a compelling lesson in the complex responsibilities of the modern CEO.
Why Tony Hayward Failed As CEO
News

BP Will Name Bob Dudley New CEO

It’s important that BP manage its CEO transition smoothly and quickly, given would could be substantial fundraising needs, and it seems they’re doing just that.
BP Will Name Bob Dudley New CEO
Markets

BP CDS Tightening After Months Of Worry

BP’s CDS is tightening significantly off its July highs with progress being made on stopping the leak. Yesterday’s sale of assets to Apache surely also helped to support the company.
BP CDS Tightening After Months Of Worry