Mozambique is expected to ship its first-ever cargo of liquefied natural gas (LNG) abroad, joining the club of global exporters of the natural term at a time when the global energy crisis is pushing prices to record highs. The LNG tanker British Mentor, operated by BP, is expected to arrive on August 24 at a […]
Tag: BP
Major oil companies are heading for record profits of $50 billion in the quarter
Oil majors are poised to post a record combined profit of $50 billion in the second quarter, although the industry’s stellar performance may be setting the stage for its own decline. As Bloomberg comments, the rise in “Big Oil” profits is a direct result of high energy prices that are fueling rampant inflation, piling pressure […]
Former BP executive at the helm of Rolls Royce
Rolls-Royce has appointed former BP executive Tufan Erginbilgic as its new chief executive to replace outgoing Warren East, in a move analysts say will help boost profits at the British aero engine maker. East, whose seven years at Rolls have been marred by costly engine problems and the pandemic, will step down at the end […]
BP: Who produced the most oil in the world in 2021
By Haris Fludopoulos US natural gas production rose 2.3% to 934.2 billion cubic meters in 2021, according to the 71st annual BP Statistical Review of World Energy, overtaking second-place Russia with total production of 701.7 billion . cubic meters. In third place is Iran with a production of 256.7 billion cubic meters of natural gas. […]
BP Plc: Announces $ 25.5 Billion Losses After Leaving Rosneft
BP Plc announced $ 25.5 billion in losses after the decision to withdraw from its 19.75% stake in Russia’s Rosneft Oil. These charges include $ 24 billion for Rosneft’s share capital and $ 1.5 billion for other activities with Rosneft in Russia. As a result, the British company posted a net loss of $ 20.38 […]
Big Oil warns of a lasting nightmare with high energy prices
Consumers need to prepare for a lasting energy nightmare, as high energy prices are expected to last for years, warn the leaders of leading oil and gas companies. That fact must be taken into account. ” Oil and gas prices have soared in recent months as a result of the rapid recovery of the global […]
BP Plc: Profits Better Than Expected, $ 1.5 Billion Own Shares Purchase Program Launches
LAST UPDATE 10:30 BP Plc has announced that it is launching a $ 1.5 billion equity purchase program, as well as higher-than-expected earnings for the fourth quarter of 2021. BP plans to launch a $ 1.5 billion treasury plan before the first quarter results, and announced a dividend of 5.46 cents per share for the […]
BP has acquired the electric vehicle charging company AMPLY
Oil giant BP Plc announced on Tuesday that it had acquired US electric vehicle charger AMPLY Power for an unspecified price, stepping up its efforts to reduce emissions and focus on cleaner forms of energy. BP said it plans to double its profits from customer service and mobility by 2030 and increase its global charging […]
CEO BP: Oil and gas will be in the global energy system ‘for decades’
“Oil giant BP is committed to tackling the climate crisis,” said Bernard Looney, the company’s chief executive, but oil and gas will remain in the energy sector for years. “It may not be popular to say that oil and gas will remain in the energy system for decades to come, but that is the reality,” […]