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The Latest Breaking News from British Petroleum

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Euronews

BP increases staff cuts to 6,200 and signals further possible reductions

The group said it was now axing more than the 4,700 roles and 3,000 contactor cuts announced at the start of the year.

Evening Standard

BP announces further staff cuts amid new AI policy

Chief executive Murray Auchincloss said AI was playing a key part in its overhaul

The Independent UK

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Oil Giant BP Returns To Profit In Second Quarter

British energy group BP on Tuesday posted a net profit for the second quarter, in contrast to weaker results from energy rivals, as lower exceptional charges offset falling oil prices.

International Business Times

BP reveals plans for group-wide costs and business review as profits fall

The oil giant has been under pressure from shareholders to boost profits and cut costs.

Evening Standard

Tesla’s UK sales fall almost 60% in July as BYD surges; Neil Woodford fined and banned over fund collapse – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

FTSE 100 Live 05 August: BP and Diageo results cheer, Domino’s Pizza shares slide

Results-day cheer for under-pressure BP and Diageo today helped the FTSE 100 index in a session when the value of Smith Nephew surged by 15%.

Evening Standard

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Lloyds leads FTSE 100 up as European stocks rally

The FTSE 100 index closed up 59.72 points, 0.7%, at 9,128.30.

Evening Standard

Energy giant discovers its largest oil and gas field in 25 years

IN FULL

The Independent UK

BP Makes Biggest Oil Discovery in 25 Years Off Brazil as It Shifts Away From Renewables

Britain's BP announced Monday it made its biggest oil and gas discovery in 25 years off the coast of Brazil, as it shifts back to its fossil fuel business.

International Business Times

BP makes its biggest oil and gas discovery in 25 years

The oil giant said the discovery was its tenth to date in 2025 and the biggest since the 1999 find of the Shah Deniz gas field in the Caspian Sea.

Evening Standard

BP confirms biggest oil and gas field discovery in 25 years – three times the size of Paris

The British energy firm have scaled back on renewable plans recently to refocus on fossil fuels

The Independent UK

BP makes its biggest oil and gas discovery in 25 years off coast of Brazil

Company to carry out more tests on its Santos basin find as it continues shift from renewables back to fossil fuels

The Guardian - UK

Shell Net Profit Retreats On Lower Energy Prices

British energy giant Shell on Thursday said its net profit slid 23 percent in the first six months of the year, hit by lower oil and gas prices.

International Business Times

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Evening Standard

Stocks falter as EU-US trade deal rally fizzles out

The deal, struck at talks in Scotland over the weekend, will see US tariffs of 15% on most imports from the EU.

Benzinga

These 3 Dividend-Yielding Stocks Could Outperform As High Fed Rates Spark $4.9 Billion Inflows: Expert

Amid persistent geopolitical uncertainty, global stocks and funds with a strategic focus on high dividends are experiencing a significant resurgence in investor interest. This expert highlights the top three stocks and funds that investors could consider to seize the opportunity.

Sports Illustrated

Viktor Gyokeres: The Man Behind the Mask

The unorthodox story of Arsenal’s new recruit includes overcoming doubters, a shift in mentality and tennis tantrums.

The Guardian - UK

The man behind the mask: why Gyökeres’s celebration keeps the game guessing

Arsenal’s new signing arrives with a reputation for goals but also mystery around his iconic celebration

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Benzinga

Options Corner: How Trump Is Making BP Great Again

Although the runup to the 2024 U.S. presidential election was one of the most contentious events in recent memory, at least one publicly traded enterprise likely breathed a sigh of relief when the results came in. A little more than a year ago, reports emerged that energy giant BP p.l.c.…

Evening Standard

The Works cheers ‘early success’ in turnaround strategy

The retail firm told shareholders it benefited from a ‘strong’ performance after Christmas.

The Guardian - UK

BP appoints new chair to oversee shift back to fossil fuels

Albert Manifold, ex-boss at buildings material company CRH, to take over from embattled Helge Lund

Evening Standard

BP appoints former CRH boss Albert Manifold as new chairman

Mr Manifold will join the oil giant as chairman-elect on September 1 before taking over from Helge Lund as chairman on October 1.

Evening Standard

FTSE 100 Live 21 July: Ryanair profits surge, BP appoints new chair

Mining stocks surged by as much as 4% today as the FTSE 100 index held its 9000 position at the start of a busy week for corporate earnings.

Euronews

The Big Question: Do companies need to re-evaluate how they set climate goals?

“If a product or an action damages the environment, it's not high quality,” Chris Hocknell told The Big Question.

Fortune

BP sells American wind business to LS Power as it continues its renewable retreat

BP's latest U.S. wind sale is part of its plan to sell much of its solar and offshore wind businesses too as it scales back on green energy.

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