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The Latest Breaking News from Bernard Looney

Shock as BP boss quits over ‘relationships with colleagues’

According to BP’s annual report, Looney was paid £10 million last year

Evening Standard

Top UK CEOs handed 16% pay rise as millions of workers squeezed – as it happened

Data from the High Pay Centre thinktank showed FTSE 100 bosses collected an average £500,000 pay rise last year, taking their median pay to £3.9m

The Guardian - UK

Fat cat bosses enjoy £500m pay rise as CEO salaries soar during cost of living crisis

Britain now ‘land of grotesque extremes’, say unions as wage gap widens

The Independent UK

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Tory plot to drop windfall tax in midst of cost-of-living crisis is branded obscene

Chancellor Jeremy Hunt has confirmed plans to revert the tax back to 40% from 75% in a move that has been criticised by campaigners

Daily Mirror

BP back in Q1 profit after record loss on Russia exit

London (AFP) - British energy giant BP reported Tuesday a net profit of $8.2 billion for the first quarter, recovering from a record loss a year earlier as it ended operations in Russia after the Ukraine invasion.

AFP

BP facing green rebellion at annual shareholder meeting

Some of UK’s biggest pension funds preparing to demand tougher plans to reduce emissions by 2030

The Guardian - UK

Global oil demand on course for record as China’s economy rebounds

International Energy Agency’s expectation for 2023 is 2m bpd higher than last year’s figure

The Guardian - UK

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BP Stock Jumped 20% After Trimming Climate Targets — A Black Eye For ESG Investing?

BP shook up its carbon reduction strategy after lagging behind U.S. energy stocks for years. What does this mean for ESG?

Investors Business Daily

The Guardian view on corporate greed: it’s causing inflation

Editorial: Unite’s claim that firms are profiteering on the back of a crisis hitting workers is hard to dismiss

The Guardian - UK

Oil giant BP slammed for handing fatcat boss £10million pay and perks bonanza

BP CEO Bernard Looney's £10million pay and perks bonanza is a 'kick the teeth' for struggling Brits, a campaigner has said - the oil giant is among those to have benefitted from a surge in wholesale energy prices in the wake of Russia ’s invasion of Ukraine

Daily Mirror

BP boss earns 172 times more than average employee as his pay doubles

Bernard Looney’s total pay packet increased from around £4.5m to about £10m

Wales Online

BP CEO pay doubles to $12M as high energy costs surge profit

Total pay for BP’s CEO more than doubled to $12 million last year

The Independent UK

Doubling of BP boss pay to £10m is a ‘kick in the teeth’, say campaigners

Bernard Looney’s bumper pay package follows annual profits of £23bn linked to soaring gas prices sparked by Russia-Ukraine war

The Guardian - UK

Fury at BP oil boss's £10million bonus while Brits struggle with sky-high bills

BP chief executive Bernard Looney could be in line for a fat paypacket but the End Fuel Poverty Coalition slammed the 'champagne lifestyle for energy bosses' while struggling Brits suffer in 'cold, damp homes'

Daily Mirror

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The Guardian - UK

BP boss could be in line for special bonus of up to £11.4m

Firm set for clash with investors over possible payout to Bernard Looney from three-year share award plan

Fortune

BP CEO Bernard Looney pushes beyond recent headlines to detail the company’s upcoming plans

The three main energy issues BP is trying to solve, Looney says, are lower carbon emissions, affordability, and security.

Salon

Big Oil backs out of climate promises

"If we see value, we’ll do it. If we don’t, we won’t."

Fortune

Fossil-fuel investments have sparked more than one important debate

An activist investor is urging rival Shell to split in two.

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Los Angeles Times

Michael Hiltzik: Big oil companies are already reneging on their global warming promises

If there's an enduring truism about corporate promises to do well by doing good, it's that believing them is a mug's game.

Fortune

BP CEO Looney addresses climate-target rollback furor

"While I understand that people are skeptical, I would encourage people to look at the facts.”

The Guardian - US

‘Monster profits’ for energy giants reveal a self-destructive fossil fuel resurgence

Last year’s combined $200bn profit for the ‘big five’ oil and gas companies brings little hope of driving down emissions

Fortune

Why the global climate activism community feels betrayed by BP

The first big oil company to 'walk the walk' on carbon emissions reduction is rolling back its goals, and green activists feel betrayed.

The Guardian - UK

If BP’s change of heart isn’t a U-turn, it’s certainly a major detour

Bernard Looney is ‘leaning in’ to his earlier pledge to cut hydrocarbons, but where will it end?

The Independent UK

BP company directors earned enough in 2021 to pay 246 nurses salaries

Figures come as oil and gas giant posts record profits while millions face soaring energy bills

AFP

BP posts record profit, dilutes green target

London (AFP) - British energy giant BP on Tuesday announced record annual profit thanks to soaring oil and gas prices, as it watered down its target for cutting carbon emissions.

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