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The Latest Breaking News from Bernard Looney

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.

AFP

BP profits reach £23 billion after spike in oil and gas prices

Oil and gas giant comes in for criticism as it lowers the ambition of its climate change pledges

Insider UK

BP profits more than double amid energy cost crisis

BP has reignited the row over the vast scale of energy company money making since the start of the Ukraine war when it reported record profits of £23 billion last year.

Evening Standard

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BP profits double thanks to energy price surge

Chief executive Bernard Looney said the company had its lowest production costs in 16 years

Wales Online

BP Stock Surges On Mixed Q4 Earnings, Decision To Throttle Back On Renewables

BP stock has rebounded 156% from Oct. 2020 lows of 14.74. Meanwhile, Exxon Mobil stock has ballooned 258% since then.

Investors Business Daily

Global carbon emissions forecast cut due to Ukraine war and Biden, says BP

Oil and gas group says countries are pursuing energy security by backing domestic, renewable supplies

The Guardian - UK

Shell and BP face tough job of keeping customers and investors happy as profits roll in

The oil giants will also have to contend with intensifying calls to put more money into clean energy

The Guardian - UK

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BP shares in Kremlin oil firm are ‘blood money’, says Zelenskiy adviser

British oil giant had said it would ‘exit Russia’ but still owns nearly 20% of state-controlled fossil fuel firm Rosneft

The Guardian - UK

Fair Cop27? Where did Peter Dutton’s figure of $2tn for climate damage fund come from?

Meanwhile, BP’s CEO was in town spruiking the energy giant’s climate credentials, as its oil output increases from last year

The Guardian - AU

Gas well methane leaks a 'huge' environmental and economic issue, BP's Bernard Looney says

The head of one of the world's biggest oil and gas producers has called for a clampdown on fugitive emissions on economic and environmental grounds, but says fossil fuels are crucial to the renewable energy transition.

ABC News

The case for an energy windfall tax is simple, the problem is the opt-outs

The allowances are either too generous or something has gone wrong in the design

The Guardian - UK

The oil industry has a talent vacuum

Who wants to work for the brands that brought you climate change?

Salon

British Museum urged to drop BP sponsor deal for Egypt exhibition

Brian Eno, Ahdaf Soueif and Miriam Margolyes sign open letter about exhibition opening shortly before Cop27

The Guardian - UK

Light fantastic: BP’s solar venture launches biggest UK project yet

From solar farms to floating arrays, from Australia to Bedfordshire, Lightsource BP is ramping up its renewable energy push

The Guardian - UK

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The Guardian - UK

Starmer bungled in failing to target his energy bill support

Labour’s idea may represent smart politics but it makes no economic sense to freeze prices for everyone

Daily Mirror

BP rakes in £880 a SECOND as fatcats' bonanza leaves Brits unable to pay for food

Chief executive Bernard Looney – who called BP a 'cash machine' – could make much as £11.7million from the profits surge while Brits struggle with the cost of living crisis

The National (Scotland)

BP posts eye-watering profits as families fear they have 'nothing left' to cut back on

ENERGY giant BP has posted eye-watering profits of £6.9 billion as ordinary families across the country fear another expected increase in their…

Daily Mirror

BP fatcats set to rake in £18m a year as households struggle to pay energy bills

Chief executive Bernard Looney, 51, could take home an astonishing £11.7m along with finance boss Murray Auchincloss who could trouser up to £6.3m in pay and perks

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The Guardian - UK

Lord Browne: the man who went from BP and the North Sea to net zero

he former oil chief is now championing green energy as an investor – and also backing a windfall tax on his old industry

The Guardian - UK

BP to review North Sea investments following windfall tax announcement

Company says it will look at levy’s impact after CEO previously stated no projects would be mothballed

The Guardian - UK

The Observer view on the urgent need for a windfall tax on the energy giants

Even bosses of Britain’s oil and gas companies admit they hardly know what to do with record-breaking profits

Wales Online

Boris Johnson to axe 90,000 civil service jobs to free cash for tax cuts

The move would reduce Government office staff by 20%

Evening Standard

Jacob Rees-Mogg defends plan to cut 90,000 civil servant jobs

The Prime Minister hinted the money saved by cutting the Civil Service by a fifth could be used for tax cuts

The Independent UK

Cost-of-living crisis: Boris Johnson wants to cut 90,000 civil servants

The Prime Minister hinted the money saved by cutting the Civil Service by a fifth could be used for tax cuts.

The Guardian - UK

Looney’s tune on windfall taxes is unpersuasive

The BP chief executive calls the proposed levy ‘unpredictable’ but it is also thoroughly affordable

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