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The Latest Breaking News from British Petroleum

BP Profit Drops 70% Amid Pivot Back To Oil And Gas

Britain's BP said on Tuesday net profit plunged in the first quarter as the struggling energy giant undergoes a major overhaul back to its fossil fuel business.

International Business Times

BP green energy chief to exit as it retreats from low-carbon investments

Oil company says Giulia Chierchia will not be replaced after pressure from investors including Elliott

The Guardian - UK

BP makes ‘significant progress’ on fossil fuel strategy as profits slump

The company also reported that its debts swelled to 27 billion US dollars (£20.1 billion).

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Scientists say they can now calculate the trillions in climate damage caused by fossil fuel giants

Experts believe the research could help bolster climate laws and make polluters pay for their role in global warming.

Euronews

The world's biggest companies have caused $28 trillion in climate damage, a new study estimates

A new study estimates that the world’s biggest corporations have caused $28 trillion in climate damage, which is a shade less than the sum of all goods and services produced in the United States last year

The Independent UK

NatWest chair thanks UK taxpayers for bailout ahead of return to private ownership

Rick Haythornthwaite said bank was indebted to public for £46bn rescue package that kept it afloat in 2008

The Guardian - UK

NatWest changes its policy over investing in oil and gas companies

Changing its language around what it can invest in raises serious questions over the bank’s formerly-pioneering green policy, campaigners say

The Independent UK

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The Gulf of Mexico is seeing an oil resurgence, and Chevron just brought another big project online

New technologies and cost savings are unlocking Big Oil projects in the Gulf.

Fortune

15 years after Deepwater Horizon oil spill, lawsuits stall and restoration is incomplete

Fifteen years after the Deepwater Horizon disaster off the Gulf Coast, the effects of the largest oil spill in U.S. history are still being felt

The Independent UK

Major shareholder revolt against BP chairman amid climate clash

Shareholders delivered a massive rebuttal for Helge Lund’s reappointment amid tensions.

Evening Standard

BP suffers investor rebellion at first AGM since climate strategy U-turn

Nearly a quarter of shareholders vote against the chair, Helge Lund, as green protesters are blocked from entering

The Guardian - UK

BP set for shareholder clash over climate goals as AGM season kicks off

The oil major’s board is likely to face conflicting pressures from shareholders against a backdrop of confusion and uncertainty for investors.

Evening Standard

BP dropped its green pledges and turned back to oil. Now the price of crude has collapsed

At its AGM this week, the company will face not only the activist investor at its heels, but a global economy being changed from the White House

The Guardian - UK

Inside activist investor Elliott's proxy fight to break up Phillips 66

Elliott aims to replace much of the board and break up Phillips 66 into parts to potentially maximize value.

Fortune

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Evening Standard

FTSE lifts again in calmer session for global markets

The FTSE 100 finished up by 0.64%, or 50.93 points, to close at 7,964.18.

The Independent UK

Global warming isn't funny. But more comedians are using humor to bring awareness to it

Comedians have long used jokes to raise awareness of serious problems, and many are now turning the gaze to climate change

The Independent UK

BP lowers outlook for gas production in first quarter and flags ‘weak’ trading

The energy giant said net debt will be about £3.1 billion higher at the end of the first quarter of 2025.

Euronews

‘One big backlash’: Why is a green shareholder activist group pausing its climate resolutions?

A “changing political landscape” and global trade tensions are partly to blame, according to the Netherlands-based group.

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Sports Illustrated

Inside Berckmans Place, Augusta National’s Ultra-Exclusive Masters Enclave

From must-have merchandise to impeccable service, two insiders share their experience at the famed VIP hospitality playground.

Barchart

How to Trade a Tariff Tantrum: Barchart Experts Weigh In

After a historically volatile week for U.S. stocks, here’s some insight on how investors should assess the markets now.

Euronews

Shell cuts gas production outlook due to maintenance and bad weather

The oil and gas company reduced its expectations for natural gas and liquefied natural gas (LNG) volumes for the first quarter of this year.

The National (Scotland)

These are the businesses conducting the most lobbying in Holyrood

Fossil fuel giants, influential PR firms and the short-term lets industry are among the top lobbyists of the Scottish Government since John Swinney…

Evening Standard

FTSE 100 suffers biggest daily decline since start of pandemic

The index plummeted by 419.75 points, or 4.95%, to close at 8,054.98.

The Independent UK

BP chairman to step down after oil giant retreats from green energy

BP kick-started a search for a new chair after Helge Lund told the board he intends to leave the role ‘in due course’.

International Business Times

BP Chairman To Step Down After Energy Strategy Reset

BP in February launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment.

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