LONDON—BP reported its strongest operational performance in more than a decade on Tuesday on the back of rocketing oil prices that helped it step up share buybacks, even as a $24 billion writedown from exiting Russia led to a record quarterly loss. Shares in the energy firm climbed 2.8 percent by 1:11 p.m. GMT in…
SCOTUS: Chief Justice Calls Leak ‘Betrayal’; College Grads Overestimating Salaries | NTD Business
The Supreme Court today responding to the unprecedented leak of a draft ruling about Roe V. Wade. The chief justice calling it a betrayal of confidence and says they’ll investigate. College grads in for a shock. The average starting salary is half of what they expect, according to one report. Chinese state-run media unhappy about a prop…
BP Quits Russia in Up to $25 Billion Hit After Ukraine Invasion
February 27, 2022
admin
BPBusiness & EconomyCompanieseconomic policieseconomyEuropeMarketsRussiaRussia-Ukraine WarstocksUkraineWorld
0 Comment
LONDON—BP is abandoning its stake in Russian oil giant Rosneft in an abrupt and costly end to three decades of operating in the energy-rich country, marking the most significant move yet by a Western company in response to Moscow’s invasion of Ukraine. Rosneft accounts for around half of BP’s oil and gas reserves and a…
BP Quarterly Profits Jump 24 Percent in Fourth Quarter, Transformation Plans in Pipeline
Oil giant BP has reported a jump in its most recent quarterly profits amidst rising energy prices. The company also issued an update of its strategic transformation plan for the future. BP announced $4.1 billion in underlying replacement cost profit for Q4 2021 in a Feb. 8 press release. Compared to Q3’s profit of $3.3…
Oil and Gas Will Be in the Energy System ‘For Decades to Come’: BP Chief
Oil and gas will continue to play an ongoing role in the global energy system for decades, BP’s Chief Executive Bernard Looney said Monday. While the British multinational oil and gas company has committed to become a net-zero company by 2050 or sooner in an effort to tackle climate change, and is actively focusing on reducing emissions, the…
‘Cash Machine’ BP Boosts Share Buyback as Profit Surges
LONDON—BP added more than a billion dollars to its share buyback programme on Tuesday as it likened itself to a “cash machine” benefiting from higher oil and gas prices and a strong trading performance in the third quarter. Natural gas and power prices around the world surged this autumn as tight gas supplies collided with…
Greenpeace Loses Legal Bid to Revoke Permit for North Sea Oil Field
Greenpeace has lost a legal bid to have the UK Government’s decision to allow BP to drill for oil at a field in the North Sea overturned. The environmental campaign group took legal action at the Court of Session, Scotland’s highest civil court, calling for BP’s permit to drill the Vorlich field in 2018 to…
Millions of Britons Could Face ‘National Shortage’ of Turkeys This Christmas
Millions of Britons could face a “national shortage” of turkeys, toys, and trees this Christmas due to a lack of skilled European employees following Brexit, according to the chair of a farming association. The Road Haulage Association (RHA) last month said the UK is facing a shortage of around 100,000 HGV drivers, which along with Brexit, has…
BP Names Dotzenrath to Lead Renewables Growth After Sanyal Departure
LONDON—BP named Anja-Isabel Dotzenrath, a former chief executive of RWE Renewables, to oversee the British company’s rapid expansion into renewable energy following the unexpected departure of BP’s head of low carbon and natural gas Dev Sanyal. Dotzenrath’s appointment comes at a time when BP, under the leadership of CEO Bernard Looney, seeks to rapidly grow…
Drivers Say Virginia Gas Station Charged $6.99 per Gallon as AG Investigates Price Gouging
A BP gas station in Virginia was charging up to $6.99 per gallon amid a gas shortage that was triggered by a cyberattack that impacted a major U.S. fuel pipeline, according to local reporters and motorists. “It was a lot of people there, no one looked at the price,” said Lether Kerney, a motorist, to…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`