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City

BP counts cost of Rosneft exit, but oil prices send underlying profits soaring

BP has swung to a quarterly loss after taking a mammoth 25.5 billion US dollar (£20.4 billion) hit following its move to quit Russia, but soaring oil prices saw underlying profits hit their highest for more than a decade. The group plunged to a 23 ...

03 May 2022 at 09:25

BP warned last year of impact on business if Russia hit with sanctions by West

Oil giant BP admitted last year that sanctions on Russia could be problematic for its business, as global leaders are lining up to impose an even more stringent economic retaliation against the Kremlin. The company, which co-owns an oil firm with ...

25 Feb 2022 at 15:25

Government puts pressure on BP over Russian interests

BP is under pressure from the Government to cut its ties with Russian oil giant Rosneft, which the British-based company holds a 20% stake in. Business Secretary Kwasi Kwarteng held a virtual call with BP’s chief executive Bernard Looney for ...

25 Feb 2022 at 19:25

City

BP sees earnings hit 14-year high amid anger over energy firm profits

BP has revealed second-quarter profits more than trebled to a 14-year high as it joined rival Shell in reaping the benefits of soaring oil and gas prices. The oil giant reported underlying replacement cost profits – its preferred measure – ...

02 Aug 2022 at 14:41

City

BP boss earns 170 times his average worker as his pay doubles to £10m

The boss of BP earned more than 170 times more than his average employee last year as his pay doubled to around £10 million after the company benefited from the Russian full-scale invasion of Ukraine. New figures from the oil giant showed ...

10 Mar 2023 at 10:47

City

Ex-BP boss Bernard Looney denied £32.4m over relationships with colleagues

The former boss of oil giant BP has been denied a £32.4 million payout after the firm found he committed “serious misconduct”. Bernard Looney resigned from the company in September after failing to be “fully transparent” in disclosures ...

13 Dec 2023 at 17:38

‘OilyFans’ billboards show BP chief executive topless after earning £10 million

A set of billboards for the adult site OnlyFans has been rebranded by environmental activists to show the chief executive of BP shirtless. Following complaints to the Advertising Standards Authority (ASA), Global Witness bought out ...

20 Jul 2023 at 16:51

City

Nearly one in five shareholders vote against £10m pay package for BP head

Shareholders dealt BP bosses a bloody nose following a turbulent annual meeting in London, with nearly one in five voting against the business’s £10 million pay package for chief Bernard Looney. The oil firm said around 18% of ...

27 Apr 2023 at 16:44

City

BP shares shrug off shock boss departure, but attention turns to successor

BP has seen its shares weather the storm caused by the shock departure of boss Bernard Looney after he admitted failing to disclose the extent of past relationships with colleagues. Shares in the FTSE 100 oil giant dropped as ...

13 Sept 2023 at 09:36

City

Chief executive Bernard Looney resigns – BP statement in full

BP chief executive Bernard Looney has resigned with immediate effect after accepting he was not “fully transparent” in his disclosures about past relationships with colleagues. Here is BP’s statement in full: “BP plc ...

12 Sept 2023 at 20:34

City

CBI boss looks to future after year of scrutiny for business leaders’ behaviour

It was a year to forget for the Confederation of British Industry (CBI), whose credibility took a hit when dozens of its members started to leave in the wake of allegations against former staff members. The lobby ...

29 Dec 2023 at 15:30

BP to sell stake in Russian oil giant Rosneft after Ukraine invasion

BP will sell its 14 billion dollar (£10.4 billion) stake in oil producer Rosneft, which it co-owns with the Kremlin, after facing pressure from the Government. The oil firm’s chief executive Bernard Looney is ...

27 Feb 2022 at 19:55

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