BP fined by Oil and Gas Authority over licence breach in the North Sea July 26, 2021 BP has been fined £50,000 by the Oil and Gas Authority (OGA) for breaching a licence condition in the North Sea. The OGA said that BP failed to report the progress and results of two extended well tests in the Vorlich field, and has also served it with a sanction notice. Having previously consented to [...]
BP closes small number of petrol stations due to lorry driver shortage July 21, 2021 BP said that the current shortage of lorry drivers meant that it had had to close a small number of its UK petrol stations. The oil giant said that the majority of its shortages of petrol and diesel were being resolved within a day. But the warning is yet another sign of how deeply the [...]
BP Lightsource snaps up Spanish solar assets for £400m June 18, 2021 BP subsidiary Lightsource will invest €475m (£407.6m) in three solar power projects in Spain, which it today announced it had acquired from Grupo Jorge. The Aragon-based assets, which could support 1000 jobs, take the firm’s pipeline of solar generating power in the country to 3 gigawatts. That’s about 15 per cent of Lightsource’s total global [...]
BP invests $220m in US solar development projects June 1, 2021 BP today boosted its investment in US renewables with a $220m purchase of solar projects from developer 7X Energy. The energy giant struck a deal for assets with a production capacity of 9GW, which will be developed through a joint venture with Lightsource, Europe’s largest solar developer. It marks BP’s first independent investment in solar [...]
Pret A Manger trades city centres for Pret-rol stations May 21, 2021 Pret A Manger is set to open new shops in petrol stations owned by the Motor Fuel Group (MFG), the café said today, in a well-needed boost for roadside stops. Wither fewer people travelling and going to work, petrol stations have suffered a sales slump of 13.3 per cent compared with the same month two [...]
BP and Eni mull merging Angola operations May 19, 2021 BP and Eni are mulling merging their oil and gas operations in Angola into a new joint venture, a move that would create one of Africa’s largest energy businesses. The two firms have entered into a memorandum of understanding (MoU) on a potential merger, it was announced today. In a statement, BP said that production [...]
80 per cent of BP shareholders reject climate proposals to reduce emissions May 12, 2021 Shareholders have voted against a plan that would have forced BP to strengthen its climate commitments. More than 79 per cent of investors voted against a resolution proposed by shareholder group Follow This, which pushes oil companies to reduce their emissions. BP said that 20.6 per cent of votes were in favour of the plan. [...]
City fund managers discuss post-pandemic opportunities, with NatWest, Lloyds and BP topping the list April 28, 2021 As the economy slowly recovers from what has been a dramatic year, and investors gradually dare to think again about growth and investment, CityAM checked in with a number of prominent Square Mile-based fund mangers to find out where they spot opportunities as London’s investment community starts to shake off the pandemic. Banking, energy [...]
BP to kick off share buyback plans as profit climbs on rising oil prices April 27, 2021 BP this morning said it would kick off £500m worth of share buybacks in the second quarter after its profit beat expectations in the first three months of the year. The oil giant said that reported profit for the first quarter came in at $4.7bn, up from $1.4bn in the last period of 2020. Underlying [...]
BP Q1 results: What to expect April 26, 2021 BP will tomorrow kick off a big week for the FTSE 100’s oil giants when it reports its first quarter results, with the firm seeking to bounce back from 2020’s $5.7bn (£4.1bn) loss. With oil prices now hovering back around pre-pandemic levels due to a combination of Opec-led production cuts and optimism over the global [...]