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BP to halve its managing staff

The British oil supermajor's new CEO wants to cut the number of managerial employees dramatically and remove a number of his predecessor's top people.

Oil giant enters new era in major decline

BP did not live up to the high standards of 2018 but rather cut its bottom line by a fifth. Tough market conditions pressured the result for the company, which is going through major changes and now wants to divest further.

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.

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