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business Mar 19, 2026, 10:29 AM
BP sells German refinery to boost cost-cutting efforts - BP is selling its Gelsenkirchen refinery in Germany to Klesch Group to streamline its business.
- The refinery processes 12 million tonnes of crude oil annually and employs around 1,800 workers.
- This sale is part of BP's broader strategy to cut costs and improve financial stability.
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business Feb 11, 2026, 7:00 AM
BP's profits plummet as share buybacks halt - BP's profits fell by $1.4 billion to $7.5 billion due to a 20% decline in brent crude prices last year.
- The company halted its share buyback program, which raised concerns among investors.
- The continued struggles raise questions about BP's future and ability to adapt to changing energy markets.
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business Feb 10, 2026, 7:20 AM
BP profits fall sharply as oil prices plummet - BP reported a 16% drop in profits to $7.5 billion for the year 2025.
- The company has suspended share buybacks to strengthen its financial position amidst falling oil prices.
- Management faces criticism for its strategic shift back to fossil fuels, prompting calls for balanced investment.
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business Jan 30, 2026, 11:34 AM
Liberty Steel's Hartlepool pipes unit for sale as Gupta empire crumbles - Advisers have been appointed to sell Liberty Steel's Hartlepool operation, targeting bids within the next fortnight.
- The Hartlepool steel pipes unit has been making losses and employs around 170 individuals.
- Without finding a buyer quickly, the future viability of the pipes unit remains uncertain.
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business Jan 14, 2026, 9:22 AM
BP predicts massive write-downs amid weak oil trading performance - BP forecasts write-downs up to five billion dollars due to weak oil trading.
- Brent crude prices fell from 69.13 dollars to 63.73 dollars per barrel in the fourth quarter.
- The company is working to reduce its debt while preparing for a change in leadership.
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business Dec 29, 2025, 12:15 PM
India demands over $30 billion from Reliance and BP for gas production failures - India is seeking over $30 billion in compensation from Reliance Industries and BP for underproducing gas from offshore fields.
- An arbitration tribunal has been hearing the case since 2016, with final arguments presented recently.
- The outcome of this dispute is significant for India's energy independence and could set important precedents for future energy projects.
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business Dec 21, 2025, 4:26 PM
Venterra announces £40m fundraising as leadership tensions rise - Venterra is set to announce a £40m fundraising initiative amid a challenging climate for the renewable energy sector.
- The company has raised a total of £250m in equity since its founding four years ago.
- Leadership tensions surround Ayman Asfari, with the company facing scrutiny over its future prospects.
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business Dec 18, 2025, 1:18 AM
BP appoints first female CEO amid struggles for revival - Meg O'Neill will assume the role of CEO at BP in April 2023, marking a significant milestone as the first woman to lead one of the world's top five oil firms.
- Her appointment follows the departure of Murray Auchincloss, who faced shareholder pressure for improved performance amidst falling returns and failed renewable energy initiatives.
- O'Neill’s track record of leadership at Woodside Energy gives BP hope for a strategy shift back to traditional oil and gas.
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2026 All rights reserved