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BP replaces Dudley with Looney

BP CEO Bob Dudley is preparing to retire from the oil and gas supermajor and will be replaced with Bernard Looney, who is being promoted from within the group.

BP expects lower oil output in third quarter

Oil output will decrease in the third quarter of the year, oil company BP predicts after producing close to 4 million boepd in the second quarter of 2019. The company's bottom line is on par with last year.

BP CEO: USD 50-70 is stable for the oil price

Production of shale oil is a huge variable concerning the future balance of oil prices, says BP's CEO Bob Dudley. He sees balance in the market with a price of between USD 50 and USD 70 per barrel.

BP doubles earnings

The oil giant delivered a strong 2018 performance despite a declining oil price at the end of the year.

BP beats own record again in Q3

The oil major has clearly surpassed analysts' third quarter forecasts, and the company now has so much capital that it expects to be able pay cash for its USD 10 billion acquisition of BHP Billiton.

BHP Billiton sells US shale assets to BP

Oil company BP is buying US shale assets from BHP Billiton worth USD 10.5 billion, writes Financial Times. An "important step" in BP's goal to increase capacity for oil drillings, says CEO Bob Dudley.

BP to cut 500 jobs this year

Oil price increases in recent months have not kept BP from carrying out further cost reductions. Over 500 employees will be dismissed this year.

BP sells UK North Sea field

Oil major BP has divested one of its older North Sea fields. However, the company maintains its interest in the UK shelf.

BP enjoys major upstream success

The oil major grew nine percent in the third quarter with support from a higher oil price. Now a share buy-back program will be launched.

BP expands LNG fleet with six vessels

Oil major BP is noting a surge in demand for liquefied natural gas, LNG, and will in the next two years take delivery of six new LNG vessels in cooperation with, among others, China's ICBC Leasing.

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