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The Latest Breaking News from Bernard Looney

Oil Giant BP Reports Tumbling Profits In First Half

BP on Tuesday announced tumbling profits for the first half, with the British oil and gas giant hit by depreciation of assets and falling revenue.

International Business Times

BP to take hit of nearly $3bn amid oil refining woes

Shares fall as energy company expects huge writedown on German plant

The Guardian - UK

BP has scaled back its green energy plans – don’t be surprised if it happens again

The oil major’s net zero plans have made it a sector leader but have yet to win over investors while fossil fuels are booming

The Guardian - UK

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BP imposes hiring freeze and halts new offshore wind projects

New boss Murray Auchincloss reverses move away from fossil fuels, which had weighed on company’s share price

The Guardian - UK

BP managers told to disclose office romances from the last 3 years or face the sack

BP updated is rules months after sacking its CEO Bernard Looney for "not being fully transparent" about past relationships.

Fortune

BP staff risk sack if they fail to disclose intimate relationships with colleagues

New policy follows sacking of ex-CEO Bernard Looney with top managers given three months to report all relationships in past three years

The Guardian - UK

Abu Dhabi state oil company reportedly looked at buying BP

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms

The Guardian - UK

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BP claws back £1.8m from sacked boss Looney and hands new CEO £8m pay deal

Salary package for Murray Auchincloss branded ‘sickening’ by anti-fossil fuel campaigners

The Guardian - UK

BP hands new CEO Murray Auchincloss £8 million after predecessor Looney's shock exit

BP said it was “in our shareholders’ interest” to make him one of the top-paid bosses on the FTSE 100

Evening Standard

BP’s new boss should be clearer on green strategy – fudging pleases no one

Shareholders on all sides want to know where the oil giant stands on renewables, yet Murray Auchincloss opts for ambiguity

The Guardian - UK

BP Bags Bumper 2023 Profits, Rewards Investors

British energy giant BP logged multi-billion-dollar annual profits Tuesday despite lower oil prices and following boardroom turmoil, sending its share price rallying thanks also to more big payouts to investors.

International Business Times

BP Reports Billion Profit in 2023 Despite Falling Energy Prices

BP reports earnings of billion in Q4 2023, surpassing expectations. Amid falling energy prices, the company remains confident in its strategy for growth...

Top News

BP CEO calls for pragmatism on green aims as profits halve

Murray Auchincloss says BP’s ‘aim’ to reduce oil and gas emissions by 20-30% was not confirmed as a ‘target’

The Guardian - UK

BP’s green agenda all at sea as sinking profits forecast renews fossil fuel call

With gloomy financial results predicted, the company must weigh its net zero targets against demands for more oil and gas production

The Guardian - UK

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The Guardian - UK

BP under pressure from hedge fund to ditch clean energy strategy

Bluebell Capital Partners says strategy has depressed share price and is ‘unrealistic’ about decline in oil and gas demand

The Guardian - UK

Are UK employers going too far with strict rules on workplace relationships?

After Bernard Looney at BP and Phillip Schofield at ITV, tendency to ‘overcompensate’ could create other serious problems, say HR experts

The Guardian - UK

Give BP’s ‘continuity candidate’ time to succeed or fail on net-zero strategy

There is method in the oil conglomerate’s decision that the best candidate for CEO is the one already doing the job

International Business Times

BP Picks New CEO Following Looney Sacking

British oil giant BP on Wednesday named veteran employee Murray Auchincloss as chief executive officer following a period as interim boss in the wake of Bernard Looney's sacking.

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Evening Standard

BP names Murray Auchincloss as permanent CEO after shock departure of disgraced Bernard Looney

The move adds to a long tradition at the firm of appointing insiders to the CEO role rather than looking elsewhere – an approach that has had mixed results in the past

The Guardian - UK

BP names interim boss Murray Auchincloss as permanent chief executive

Former finance chief to replace Bernard Looney, who departed unexpectedly last year

Evening Standard

The biggest corporate gaffes of 2023

It's that time of the year again. Here are 15 of the City desk's best corporate gaffes of 2023

The Guardian - UK

UK dealmaking shrinks in 2023, but economy predicted to ‘turn corner’ in 2024 – as it happened

PwC predicts inflation will fall near ‘normal levels’ in 2024, but corporate insolvencies are forecast to jump

The Guardian - UK

‘You have a responsibility’: how Aviva’s Amanda Blanc has promoted equality in UK business

From BP to the CBI, the insurance boss has influenced some of the biggest changes in corporate Britain this year

The Independent UK

BP denies ex-CEO Looney a $41 million payout, saying he misled the firm over work relationships

BP says its former chief executive has been denied a payout of 32.4 million pounds, or $41 million, after he was found to have misled the company over his past relationships with colleagues