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BP said it continued to be pummelled by weak energy demand due to the coronavirus epidemic

BP sinks to first loss in a decade on pandemic hit

BP's profit in the last quarter of 2020 sunk to $115m due to weak energy demand and poor trading results, with fuel consumption continuing to slide so far this year due to tightening travel restrictions.

Business • 02 Feb 21

BP reported a $86m profit for the three months to the end of September

BP swings back to small quarterly profit

BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and is weighing on fuel demand and refining profits.

Business • 27 Oct 20

The net loss was in line with analysts' expectations

BP halves dividend after record loss in Q2

BP has cut its dividend for the first time in a decade, after reporting a record $6.7 billion loss in the second quarter as the Covid-19 crisis hammered energy demand.

Business • 04 Aug 20

BP is selling its global petrochemicals business to Ineos for a total of $5 billion

BP to sell petrochemicals unit to Ineos for $5 billion

BP has agreed to sell its global petrochemicals business to billionaire Jim Ratcliffe's Ineos for $5 billion, pulling out of a sector widely seen as a key driver of oil demand growth in the coming decades.

Business • 29 Jun 20

BP said the aftermath of the new coronavirus pandemic will accelerate the pace of transition to a lower-carbon economy

BP to write off up to $17.5 billion on lower forecasts

BP said it will take a writedown of up to $17.5 billion in its second-quarter earnings after sharply lowering its long-term oil and gas price outlook as it now expects a faster transition away from fossil fuels.

Business • 15 Jun 20

BP is aiming to become a smaller, faster-moving energy company with a greater focus on renewables rather than oil and gas

BP to cut 10,000 jobs in renewable energy shift

BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of chief executive Bernard Looney's plan to shift the oil and gas major to renewable energy, the company has said.

Business • 08 Jun 20

BP's new CEO Bernard Looney said the spread of Covid-19 has only strengthened the company's resolve to progress its transformation plans

BP's Looney halves top management roles under new plan

BP is more than halving the size of its senior management team as part of chief executive Bernard Looney's drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy, company sources told Reuters.

Business • 26 May 20

New BP CEO Bernard Looney said a recovery in oil prices will take some time

BP's profit tumbles by two-thirds but beats forecasts

BP's first-quarter profit tumbled by two thirds and its debt climbed to its highest in at least five years as the coronavirus crisis hammered oil demand, but the energy major kept its dividend despite warning of exceptional uncertainty.

Business • 28 Apr 20

BP deepens emissions targets as CEO 'reinvents' firm

BP plans deep cuts to its carbon emissions by 2050, setting one of the oil sector's most ambitious targets, as part of the biggest overhaul in the company's 111-year history by new chief executive Bernard Looney.

Business • 12 Feb 20

Greenpeace activists sit chained into oil barrels as they protest outside the headquarters of oil giant BP in London

BP temporarily shuts London HQ on new CEO's first day

Climate protesters forced BP to temporarily shut down its London headquarters today, the first day in office for the oil and gas company's new CEO Bernard Looney.

Business • 05 Feb 20

Incoming BP chief executive Bernard Looney hails from Kerry

BP's Looney goes all-in on climate goals

Incoming BP chief executive Bernard Looney plans to expand the company's climate targets and is considering overhauling the structure of the oil and gas major in one of the biggest shake-ups in its 111-year history.

Business • 22 Jan 20

Premier Oil is set to buy stakes in North Sea oilfields from BP

Premier Oil plans rights issue for buying spree

Premier Oil is set to buy stakes in North Sea oilfields Andrew and Shearwater from BP for $625m and increase its stake in the Tolmount gas project in a deal with Dana worth $191 million, it said today.

Business • 07 Jan 20

Incoming BP chief executive Bernard Looney

Incoming BP CEO won't take up Rosneft board seat

Incoming chief executive Bernard Looney will not take up either of BP's seats on the board of Rosneft when he takes over in February because of the complexity of the relationship with the Russian oil giant, company sources have said.

Business • 19 Dec 19

BP said its third-quarter underlying replacement cost profit, the company's definition of net income, came to $2.3 billion

BP Q3 profits slump on weaker oil prices

BP's profits fell sharply in the third quarter, hurt by lower oil prices, but strong refining operations helped the company beat expectations even after taking a one-off charge of $2.6 billion linked to large asset sales.

Business • 29 Oct 19

Kerryman Bernard Looney has been named as BP's new CEO

BP taps insider Irish man Bernard Looney as new CEO

Oil giant BP today said its upstream business head Bernard Looney will succeed Bob Dudley as chief executive officer when he retires next year after holding the role for nearly a decade.

Business • 04 Oct 19

Greenpeace said a team of activists in boats drew up beside the 27,000-tonne rig as it was trying to leave Cromarty Firth

Greenpeace activists halt BP North Sea oil rig

Greenpeace activists have said they halted the progress of an oil rig destined for BP's North Sea exploration programme off the coast of Scotland.

World • 10 Jun 19

BP's chief executive Bob Dudley said the company produced 'resilient earnings'

BP's profit slump buffered by higher output, trading

BP's first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were offset by higher production and a stronger trading performance.

Business • 30 Apr 19

BP has reported an annual net profit of $9.4 billion for last year

BP's net profit almost trebles to $9.4 billion in 2018

BP almost trebled its annual net profit to $9.4 billion (€8.2 billion) last year as oil prices soared towards the end of 2018, the British energy giant said today.

Business • 05 Feb 19

BP's London-listed shares were trading 0.4% higher

BP agrees to buy BHP oil and gas assets

BP has agreed to buy US shale oil and gas assets from global miner BHP Biliton for $10.5 billion, expanding the British oil major's footprint in some of the nation's most productive oil basins in its biggest deal in nearly 20 years.

Business • 30 Oct 18

BP has forecast that the global electric vehicle fleet will soar to more than 300 million by 2040, from just 1 million in 2016

BP bets on electric car switch with Chargemaster deal

BP is buying Britain's top electric vehicle charging firm Chargemaster and will initially roll out its ultra-fast chargers across its filling station network in the UK before turning its attention to China's rapidly growing market.

Business • 28 Jun 18

BP said its first-quarter production rose to 3.7 million barrels per day, up 6% from a year ago

BP's profit surge 71% on higher oil prices and output

BP today reported a 71% jump in first-quarter profit driven by higher oil and gas prices and increased production as it undergoes rapid growth.

Business • 01 May 18

BP has forecast a peak in demand for oil for the first time

BP sees electric vehicles crimping oil demand by 2040

The emergence of self-driving electric cars and travel sharing are set to dent oil consumption by 2040, oil and gas giant BP said, forecasting a peak in demand for the first time.

Business • 21 Feb 18

BP's annual profits soared to $6.2 billion from $2.6 billion in 2016.

BP's Q4 results surge on refining and trading

BP's profits more than doubled in 2017 to $6.2 billion due to a large increase in oil and gas production as the company resumed share buybacks in a sign it had left a three-year downturn behind.

Business • 06 Feb 18

Almost five million barrels of oil spilt into the Gulf of Mexico following an explosion on BP's offshore rig

BP to take $1.7 billion Deepwater Horizon charge

BP said today it would take a new charge over the 2010 Deepwater Horizon spill after again raising estimates for outstanding claims, lifting total costs to around $65 billion.

Business • 16 Jan 18

However, the energy giant cautioned that longer-term earnings would be 'positively impacted' by the US changes

BP to take $1.5bn hit on US tax reforms

British energy major BP has said it expects to take a $1.5-billion (€1.2 billion) hit from US President Donald Trump's tax reforms.

Business • 02 Jan 18