By Laura Hurst and Amanda Jordan (Bloomberg) --BP Plc will make the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago, as the coronavirus pandemic hurts long-term oil demand and accelerates the shift to cleaner energy. In a dramatic revision that prompted questions about the affordability of its dividend, the British giant cut … [Read more...]
BP to Cut 15% of Workforce by Year-End
By Shadia Nasralla and Ron Bousso LONDON, June 8 (Reuters) - BP will cut about 15% of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday. Looney told employees in a global online call that the London-based company will cut 10,000 jobs from the current … [Read more...]
BP Says Workers in Gulf of Mexico and Alaska Test Positive for Coronavirus
Photo: Lukasz Z / Shutterstock By Jessica Resnick-Ault and Yareth Rosen NEW YORK/ANCHORAGE, Alaska, April 1 (Reuters) - Several workers on a BP Plc oil platform in the U.S. Gulf of Mexico have tested positive for coronavirus, the company said on Wednesday, a day after a worker atBP's operations in Alaska also tested positive. The cases are the first recorded among … [Read more...]
BP is Striking Out in a Hotspot for Offshore Oil Exploration
By Peter Millard and Kelly Gilblom (Bloomberg) --It was supposed to be BP Plc’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil. The potential bonanza is still out of reach, two years after the London-based major teamed up with Brazil’s national oil company and a unit of China National Petroleum Corp. to outbid two … [Read more...]
BP Has No Plans to Take Tankers Through Hormuz
LONDON, July 30 (Reuters) - BP has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels, the British company's Chief Financial Officer Brian Gilvary said on Tuesday. The oil and gas company has no current plans to take any of its own vessels through the strait, Gilvary said, adding that BP is shipping oil … [Read more...]