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The Latest Breaking News from British Petroleum

BP slammed as profits more than double during Iran war

IN FULL

The Independent UK

Iran war briefing: Trump meets with national security over Tehran peace plan

Donald Trump discussed Iran's proposal to reopen the Strait of Hormuz and end the Middle East conflict with his national security team on Monday, but a US official told Reuters that the President “doesn’t love the proposal” as he wants a peace plan to address Iran’s nuclear programme. The conflict…

The Independent UK

BP slammed over ‘astronomical’ profits amid oil price spike caused by Iran war

The oil giant saw profits surge by over 130% to a better-than-expected 3.2 billion US dollars (£2.4 billion) in the first quarter.

Evening Standard

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BP profits more than double as oil prices soar in Iran war

First-quarter profits of $3.2bn prompt outrage from campaigners, who say figures come at expense of consumers

The Guardian - UK

BP profits more than double as oil trading booms on soaring crude prices amid Iran war

The FTSE 100 firm’s preferred profit measure soared to a better-than-expected $3.2bn in the first quarter

The Independent UK

UAE quits Opec in ‘pivotal moment’ for oil producing group – as it happened

It’s UAExit as the United Arab Emirates will leave Opec on 1 May, in a blow to the group of oil producers

The Guardian - UK

Nasdaq Notches Another New All-Time High: Stock Market Today

Two of the three main U.S. equity indexes hit new all-time highs at the start of a big week for earnings and interest rates.

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Shell reverses course in Canada and buys ARC Resources for $14 billion, doubling down on oil and gas

The Montney is emerging as a hot oil and gas play as U.S. shale basins mature.

Fortune

Blue chips close lower amid US-Iran stalemate

For the week, the FTSE 100 fell 2.7%, the FTSE 250 also declined 2.7% and the AIM All-Share dipped 1.7%.

Evening Standard

What impact will soaring oil prices have on BP’s earnings?

The FTSE 100 firm said earlier this month it was heading for an ‘exceptional’ oil trading result in the first three months of the year.

Evening Standard

Extra diesel shipments prioritised for regional areas

Two additional cargo ships of diesel will come into Australia, bringing in 100 million litres of supply after deals struck with two major fuel companies.

AAP

BP’s chair deserved a kick for his silly obstinacy over shareholder resolution

Albert Manifold and his board refused to put a request from investor group on annual meeting agenda – leading to an investor revolt

The Guardian - UK

BP board suffers triple climate rebellion from shareholders

More than 50% of voters at first AGM under new leadership oppose plans to scrap climate reporting

The Guardian - UK

BP facing tense clash over climate transparency and shareholder rights at AGM

The oil major could face investor dissent on several fronts during the meeting at its Sunbury-on-Thames hub in Surrey.

Evening Standard

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The Economic Times

Beyond sneakers: Bachi Pullela’s ‘State of Joy’ bet in the footwear space

Bachi Pullela, Founder of State of Joy, discusses his transition from global manufacturing to building a consumer-facing brand rooted in Indian identity and “joy” as a cultural philosophy.

The Guardian - US

Climate groups sue US government over approval of new BP project in Gulf of Mexico

Advocates expressed alarm as new project drills deeper into ocean bed, pointing to company’s failures at Deepwater Horizon spill

AAP

'Tiny' tax returns on gas has leading economist fuming

Australians have finite stocks of gas and other natural resources and deserve a fair return on them, an inquiry has been told as calls grow for tax reform.

The Independent UK

Environmental groups sue Trump administration over approval of new ultra deep-water drilling project

Environmental groups sued the Trump administration on Monday over its approval of oil company BP’s ultra deep-water drilling project in the Gulf of Mexico

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Evening Standard

FTSE 100 falls back amid renewed US-Iran tension

XTB’s Kathleen Brooks said ‘the market mood is very different at the start of the week compared to Friday’.

Evening Standard

Oil price plummets as Iran declares Hormuz open

‘For stock and bond market bulls around the world, this is the perfect end to the week,’ said Kathleen Brooks, research director at XTB.

The Independent UK

The Latest: A 10-day Lebanon ceasefire appears to hold as European leaders set to meet over strait

A 10-day ceasefire announced by U.S. President Donald Trump and agreed on by Lebanon and Israel appeared to be holding in Lebanon

The Independent UK

BP sued in Kenya over alleged toxic waste from 1980s oil exploration

A Kenyan High Court has ruled that a class action lawsuit against BP can proceed

Evening Standard

Stocks rise, oil falls, on fresh Middle East hope

The FTSE 100 closed up 26.10 points, 0.3%, at 10,609.06.

The Independent UK

UK workers should stay at home to save fuel, says ex-government adviser

Professor Nick Butler warns the price of diesel could still go a ‘good deal’ north of £2 per litre

The Guardian - UK

BP’s new boss to overhaul structure after retreat from green strategy

Meg O’Neill to return to upstream and downstream divisions after shift away from low carbon push

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