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Bernard Looney resigned as BP CEO on Tuesday after failing to fully disclose past personal relationships with employees

BP begins search for new CEO with no clear front-runner

BP CEO Bernard Looney's abrupt resignation has thrown the British oil major into a leadership crisis with no groomed front-runner to succeed him, company and industry sources have said.

Business • 14 Sep 23

Bernard Looney, who is from Co Kerry, took over as CEO of BP in 2020

BP's Irish CEO Looney resigns with immediate effect

BP CEO Bernard Looney has resigned with immediate effect after accepting he was not "fully transparent" in his disclosures about past relationships with colleagues.

Business • 13 Sep 23

BP increased its dividend by 10% to 7.27 cents per share, the fourth hike since halving it in the wake of the Covid pandemic three years ago

BP boosts dividend even as profit slumps 70% to $2.6bn

BP's second-quarter profit slumped 70% from a year earlier to $2.6 billion, missing forecasts, as refining margins and oil trading income fell, but still allowing the energy giant to boost its dividend by 10%.

Business • 01 Aug 23

BP said its first-quarter underlying replacement cost profit, the company's definition of net income, reached $4.96 billion

BP profit rises to $5 billion as share buyback is cut

BP made a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading as the company pared back a share buyback programme.

Business • 02 May 23

BP CEO Looney's 2022 pay more than doubles to £10m

BP's chief executive Bernard Looney's total remuneration for 2022 more than doubled to £10.03m from £4.46m in 2021, BP's annual report published today showed.

Business • 10 Mar 23

BP posts a record profit of $27.6 billion in 2022 which was lifted by a surge in energy prices

BP makes record profit in 2022, boosts oil spending

BP has today reported a record profit of $28 billion for 2022 and hiked its dividend, but infuriated climate activists by rowing back on plans to slash oil and gas output and reduce carbon emissions by 2030.

Business • 07 Feb 23

BP's chief executive Bernard Looney aims to rapidly grow its renewables business and slash oil and gas output by 2030

Ukraine war to accelerate shift to clean energy - BP

Russia's war in Ukraine is expected to weigh on long-term energy demand and accelerate the world's shift to renewables and low-carbon power as countries boost domestic energy supplies, BP said in a report today.

Business • 30 Jan 23

Follow This has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030

Investors ramp up pressure on Big Oil firms on targets

A group of investors has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030, reviving pressure on the sector after a year that saw governments shift their focus to energy security.

Business • 19 Dec 22

BP is in the early planning stages of developing a large, low-carbon hydrogen hub around its Indiana refinery

BP doubles down on hydrogen as fuel of the future

BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonise.

Business • 05 Dec 22

BP has benefitted from higher oil prices following Russia's invasion of Ukraine

Oil giant BP made $8.2bn profit in its third quarter

BP has revealed its profits more than doubled for the past three months amid ratcheting calls for stiffer windfall taxes for energy producers.

Business • 01 Nov 22

BP already has a large biogas business producing around 11,000 boed.

BP to buy US biogas producer Archaea for $4.1bn

BP will buy US-based renewable natural gas (RNG) producer Archaea Energy for about $4.1 billion, the companies said today, as the British energy major seeks to expand its alternative fuels business.

Business • 17 Oct 22

The BP-Husky Toledo Refinery stands at sunrise in Ohio

BP says Toledo refinery shut after fire, two hurt

BP said today that it had shut its 150,800 barrel-per-day Toledo, Ohio refinery after a fire, which injured two.

Business • 21 Sep 22

Rosneft said oil sales in the six months to June increased by 5.7% year on year

Rosneft H1 profit jumps to $7.2bn despite sanctions

Top Russian oil producer Rosneft posted a 13% rise in half-year net profit today to 432 billion roubles ($7.22 billion) which it said was helped by tight cost controls.

Business • 15 Sep 22

Gas market crisis 'not a one winter deal' - BP's Looney

The Chief Executive Officer of BP Bernard Looney has said the current crisis in the European gas market is "not a one winter deal".

Ukraine • 05 Sep 22

BP's Looney inducted into Irish Academy of Engineering

The Irish Academy of Engineering has formally inducted Kerryman and BP chief executive Bernard Looney as a Fellow of the organisation.

Business • 05 Sep 22

Soaring refining margins and energy prices helped BP boost its dividend by 10%

BP reports Q2 profit of $8.45 billion, boosts dividend

BP's second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and oil trading helped it boost its dividend and share repurchases.

Business • 02 Aug 22

BP wins shareholder support for climate strategy

BP shareholders yesterday backed the energy company's climate strategy, while fewer investors than last year supported a resolution filed by an activist group urging faster action to battle climate change.

Business • 13 May 22

BP said it had taken a $24 billion charge after exiting Russia in February

BP boosts buybacks as profit soars to highest in decade

BP boosted its share buyback programme after its net profit soared to its highest in over a decade on strong oil and gas trading results, as the energy company took a $24 billion charge after exiting its operations in Russia.

Business • 03 May 22

Global bank HSBC has joined a growing list of companies looking to exit Russia

Western firms head for the exit in Russia

Energy giant BP, global bank HSBC and the world's biggest aircraft leasing firm AerCap joined a growing list of companies looking to exit Russia today, as Western sanctions tightened the screws on Moscow over its invasion of Ukraine.

Business • 28 Feb 22

BP also confirmed that its chief executive is resigning from Rosneft's board with "immediate effect"

BP to exit stake in Russian oil giant Rosneft

BP is exiting its 19.75% shareholding in Russian oil giant Rosneft, the firm said in a statement.

Business • 28 Feb 22

BP sticks with Russian business, CEO Looney says

BP is sticking with its Russian oil and gas business, which has so far been unaffectd by simmering tensions between Russia and the West, its chief executive Bernard Looney said today.

Business • 14 Feb 22

BP's CEO Bernard Looney said the oil company was transforming

BP records highest profit in eight years in 2021

BP has today reported a profit of $12.8 billion in 2021, the highest in eight years, as natural gas and oil prices soared and the global economy recovered from the pandemic slump.

Business • 08 Feb 22

BP's third quarter profit beats forecasts

BP has today reported a rise in third quarter profit, lifted by oil and gas prices and a strong trading performance, allowing it to expand its share buyback programme by more than $1 billion.

Business • 02 Nov 21

BP's CEO Bernard Looney said the company will continue producing hydrocarbons for decades to come

BP to stick with oil and gas for decades, CEO says

BP will continue producing hydrocarbons for decades to come and will benefit from rising oil prices even as it reduces output as part of its shift to low-carbon energy, its chief executive Bernard Looney told Reuters.

Business • 23 Jun 21

BP's lobbying for gas shows rifts over emissions path

Oil major BP has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world.

Business • 17 May 21