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14-May-2015 09:37 AM

BP strengthens its board

BP has appointed Paula Rosput Reynolds and Sir John Sawers as non-executive directors with immediate effect. Rosput Reynolds has more than 25 years' experience in the energy sector, including as president and chief executive officer of AGL Resource
28-Apr-2015 07:24 AM

BP's costs

BP's underlying replacement cost profit for the first quarter fell to $2.6bn compared with $3.2bn a year ago. But it was up from $2.2bn in the previous three months. Group chief executive Bob Dudley said: "We are resetting and rebalancing BP to
17-Apr-2015 07:16 AM

BP shareholders demand climate change transparency

Oil giant BP will publish more information on climate change issues following overwhelming shareholder approval of a special resolution at the company's annual general meeting. The shareholder requisitioned resolution called for the company to inclu
06-Mar-2015 09:58 AM

BP finalises deal for $12bn Egypt gas project

BP has signed the final agreements of the West Nile Delta project to develop 5 trillion cubic feet (tcf) of gas resources and 55 million barrels (mmbbls) of condensates with an estimated investment of around $12bn by BP and its partner. The project unde
03-Feb-2015 07:23 AM

BP profits fall

BP posts lower underlying replacement cost profits for 2014 and will reduce exploration expenditure and postpone marginal projects this year to respond to the likelihood of oil prices remaining low. BP posts underlying replacement cost profit for the fou
16-Jan-2015 07:30 AM

BP's Gulf fine

Oil giant BP believes penalties for the Gulf of Mexico oil spill are likely to be at the lower end of the statutory range. This follows the US District Court for the Eastern District of Louisiana ruling on the issues raised in the phase 2 trial of the D
02-Jan-2015 10:32 AM

BP starts oil production at Kinnoull field

BP continues to develop the Andrew field in the central North Sea with production having started this week at Kinnoull. The company has predicted that at its peak the Andrew and Kinnoull fields will be over 50,000 barrels of oil equivalent per day. Its
31-Dec-2014 11:50 AM

Board changes at BP

BP has announced that Iain Conn has stepped down as an Executive Director of the company as of 31 December 2014. In addition, BP announced that Paul Anderson, a Non-Executive Director of the company has advised that he stepped down as a Non-Executive Dir
10-Dec-2014 08:55 AM

BP restructuring charges to cost $1bn over five quarters

BP expects to incur non-operating restructuring charges of around $1bn over the next five quarters as part of its ongoing programme to simplify its Upstream and Downstream activities and corporate functions. The charges will take effect from the curren
29-Oct-2014 03:19 PM

BP share repurchase programme

BP has entered into a repurchase mandate agreement with an independent third party following the expiry of the repurchase mandate agreement previously entered into and announced in respect of the period for 29 September to 28 October. Under the repurc
28-Oct-2014 07:25 AM

BP underlying replacement cost profits fall

BP reports underlying replacement cost profit for the third quarter of $3.0bn - down from $3.7bn a year ago. Operating cash flow for the quarter was $9.4bn, compared with $6.3 billion in 3Q 2013. Total operating cash flow for the first nine months of 2
09-Sep-2014 07:34 AM

BP to keep 'A' rating despite negligence ruling

The negligence ruling against BP by a US district court will not by itself affect the oil giant's 'A' rating, Fitch Ratings says. The ratings agency says the ruling that found BP grossly negligent over the 2010 Deepwater Horizon accident i
05-Sep-2014 08:19 AM

BP buys back shares

BP bought back 3,185,000 ordinary shares yesterday at prices ranging from 488.70p to 453.95p apiece for cancellation. At 8:19am: (LON:BP.) BP PLC share price was -3p at 452p Story provided by
04-Sep-2014 04:29 PM

BP to appeal Gulf spill 'negligent' decision

BP is to appeal against a decision by the US District Court for the Eastern District of Louisiana which found the company 'grossly negligent' for the 2010 Gulf of Mexico oil spill. BP believes that the finding that it was grossly negligent with
29-Jul-2014 07:09 AM

BP Q2 replacement cost profit up 34% on prior year period

Oil major BP said underlying replacement cost profit for the second quarter was $3.6bn, 34% higher than the $2.7bn reported for the same period in 2013 and 13% higher than the $3.2bn result for the first quarter of 2014. The company also announced a quar
24-Jul-2014 02:42 PM

Alan Boeckmann joins BP board

BP has appointed Alan Boeckmann as a non-executive director with immediate effect. Boeckmann was previously chairman and chief executive of Fluor Corporation, the engineering and construction company. Chairman Carl-Henric Svanberg said: "Alan is
24-Jul-2014 02:19 PM

BP downstream CEO to step down

BP group managing director and chief executive, downstream, Iain Conn, is leaving the company and will step down from the board by the end of the year. Conn has had a career of 29 years with BP, serving on the board for the past 10 years and in his curr
29-Apr-2014 07:23 AM

BP sees fall in underlying replacement cost profit in Q1

Oil major BP's first-quarter replacement cost (RC) profit was $3.475bn, compared with $16.596bn a year ago. First quarter 2013 included a $12.5-billion gain relating to the disposal of the group's interest in TNK-BP. After adjusting for a net
23-Apr-2014 09:56 AM

BP to sell interests in four Alaska oil fields

BP has agreed to sell interests in four of its operated oil fields on the North Slope of Alaska to Hilcorp. The sale agreement includes all of BP's interests in the Endicott and Northstar oil fields and a 50% interest in each of the Liberty and the
14-Mar-2014 07:48 AM

BP clear to enter new Gulf of Mexico contracts

BP has entered into an administrative agreement with the US Environmental Protection Agency resolving all matters related to the suspension, debarment and statutory disqualification of BP following the Deepwater Horizon accident and oil spill. As a re
04-Mar-2014 09:25 AM

BP loses US court battle over Deepwater Horizon payments

BP has lost a US appeal court battle over payments to claimants whose alleged injuries are not traceable to the Deepwater Horizon accident and oil spill. The US Court of Appeals for the Fifth Circuit denied the company's request for a permanent inju
04-Feb-2014 07:18 AM

BP reports slump in underlying replacement cost profit

Oil major BP said underlying replacement cost profit for Q4 was $2.8 billion, compared with $3.9 billion in Q4 2012. Full-year underlying replacement cost profit was $13.4 billion for 2013, compared with $17.1 billion for 2012. Compared with the same per
18-Dec-2013 02:29 PM

BP completes commissioning of Whiting refinery units

BP has confirmed that all of the major new units associated with the Whiting modernisation project have been successfully brought on stream. The start-up of the new 102,000 barrel per day coker in mid-November marked the last major milestone of the mul
18-Dec-2013 08:13 AM

BP has successful year for new field exploration

BP says 2013 has been its most successful year for new field exploration for almost a decade. During the year, BP has participated in 15 completed wildcat exploration wells which have resulted in seven potentially commercial discoveries, giving a new fi
18-Dec-2013 07:45 AM

BP confirms significant find in Gulf of Mexico

BP has confirmed a significant oil discovery at its Gila prospect, which it co-owns with ConocoPhillips, in the deepwater US Gulf of Mexico. This is BP's third discovery in recent years in the emerging Paleogene trend in the Gulf of Mexico and refl
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