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The Latest Breaking News from Bernard Looney

BP boss Bernard Looney takes home £4.5m as soaring gas and oil prices turn company into 'cash machine'

The chief executive, who grew up on a dairy farm in County Kerry in Ireland and was the first in his family to go to University, insists he understands how many households were “really, really struggling”.

Daily Record

Windfall tax wouldn’t stop BP’s £18bn parade of projects

Neither would it make the energy crisis go away, but after a while it becomes hard to resist

The Guardian - UK

BP profits skyrocket amid demands for windfall tax to tackle cost of living

BP has notched up its highest quarterly underlying profits for more than a decade thanks to rocketing oil and gas prices as calls grow for a…

The National (Scotland)

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BP promises to ‘back Britain’ with £18 billion as profits hit highest since 2008

The oil giant made an underlying profit of $6.2 billion in the first three months of the year, far higher than the City was expecting

Evening Standard

High energy prices leave oil giants untroubled by Russia exit or tax hints

BP and Shell are expected to report increased profits this week despite taking a big hit from the war in Ukraine

The Guardian - UK

Govt asks state-run petroleum firms to consider buying Russian oil assets

The call on companies to explore buying the stake in Rosneft came after BP CEO Bernard Looney met Petroleum Minister Hardeep Singh Puri in March

The Hindu

Sunak would do well to retain option of windfall tax on oil and gas profits

Firms’ bleating would fade if sum is as little as £3bn, as models suggest, and levy is applied only rarely

The Guardian - UK

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BP boss Bernard Looney sees pay nearly double to £4.5 million

The bumper pay out comes amid soaring oil and gas prices but BP insists the increased reward is not linked

Evening Standard

BP boss Bernard Looney’s pay almost doubles to £4.5m in 2021

Remuneration package includes £142,000 wage increase and £2.4m in bonuses for financial performance

The Guardian - UK

‘We Could Lose It All’: BP’s Bet on Russia Was Always a Gamble

The company will eat a $25 billion loss with its forced exit from the country—but higher oil prices will ease the pain.

Businessweek

BP offloads 19.75% stake in Russian oil giant Rosneft with immediate effect

BP is to offload its 19.75% stake in state-owned Russian oil giant Rosneft "with immediate effect" following President Putin's invasion of Ukraine

Daily Mirror

BP to sell stake in Russian oil giant Rosneft after Ukraine invasion

The oil giant’s chief executive Bernard Looney is also resigning from the Rosneft board.

The Independent UK

BP will divest stake in Russian oil giant Rosneft

BP CEO Bernard Looney will immediately resign from Rosneft's board.

Axios

BP abandons stake in Russian oil giant Rosneft with up to $25bn charge after Putin orders Ukraine invasion

Chief executive Bernard Looney is resigning from Rosneft’s board with ‘immediate effect’

The Independent UK

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The Guardian - UK

BP’s ties to Russia draw UK government ‘concern’

Oil firm holds 22% stake in Rosneft, run by Putin’s de facto deputy, and made $2.7bn profit from arrangement last year

Daily Mirror

Oil giant BP has 'more cash than we know what to do with' after almost £10bn profits

BP boss Bernard Looney, who has splashed out on a £5.2million apartment, is set for a bumper bonus. Yet the company rejected calls for a windfall tax on oil and gas producers to help ease the cost of living crisis

The Guardian - UK

Ofgem admits failings over energy regulation, and warns Ukraine conflict would push bills higher – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

‘Cash machine’ BP dismisses calls for windfall tax as profits hit eight-year high

Company swings to $12.8bn profit from loss of $5.7bn the year before as it cashes in on gas and oil price hikes

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