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The Latest Breaking News from British Petroleum

Extra diesel shipments prioritised for regional areas

Two additional cargo ships of diesel will come into Australia, bringing in 100 million litres of supply after deals struck with two major fuel companies.

AAP

BP’s chair deserved a kick for his silly obstinacy over shareholder resolution

Albert Manifold and his board refused to put a request from investor group on annual meeting agenda – leading to an investor revolt

The Guardian - UK

BP board suffers triple climate rebellion from shareholders

More than 50% of voters at first AGM under new leadership oppose plans to scrap climate reporting

The Guardian - UK

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BP facing tense clash over climate transparency and shareholder rights at AGM

The oil major could face investor dissent on several fronts during the meeting at its Sunbury-on-Thames hub in Surrey.

Evening Standard

Beyond sneakers: Bachi Pullela’s ‘State of Joy’ bet in the footwear space

Bachi Pullela, Founder of State of Joy, discusses his transition from global manufacturing to building a consumer-facing brand rooted in Indian identity and “joy” as a cultural philosophy.

The Economic Times

Climate groups sue US government over approval of new BP project in Gulf of Mexico

Advocates expressed alarm as new project drills deeper into ocean bed, pointing to company’s failures at Deepwater Horizon spill

The Guardian - US

'Tiny' tax returns on gas has leading economist fuming

Australians have finite stocks of gas and other natural resources and deserve a fair return on them, an inquiry has been told as calls grow for tax reform.

AAP

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Environmental groups sue Trump administration over approval of new ultra deep-water drilling project

Environmental groups sued the Trump administration on Monday over its approval of oil company BP’s ultra deep-water drilling project in the Gulf of Mexico

The Independent UK

FTSE 100 falls back amid renewed US-Iran tension

XTB’s Kathleen Brooks said ‘the market mood is very different at the start of the week compared to Friday’.

Evening Standard

Oil price plummets as Iran declares Hormuz open

‘For stock and bond market bulls around the world, this is the perfect end to the week,’ said Kathleen Brooks, research director at XTB.

Evening Standard

The Latest: A 10-day Lebanon ceasefire appears to hold as European leaders set to meet over strait

A 10-day ceasefire announced by U.S. President Donald Trump and agreed on by Lebanon and Israel appeared to be holding in Lebanon

The Independent UK

BP sued in Kenya over alleged toxic waste from 1980s oil exploration

A Kenyan High Court has ruled that a class action lawsuit against BP can proceed

The Independent UK

Stocks rise, oil falls, on fresh Middle East hope

The FTSE 100 closed up 26.10 points, 0.3%, at 10,609.06.

Evening Standard

UK workers should stay at home to save fuel, says ex-government adviser

Professor Nick Butler warns the price of diesel could still go a ‘good deal’ north of £2 per litre

The Independent UK

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The Guardian - UK

BP’s new boss to overhaul structure after retreat from green strategy

Meg O’Neill to return to upstream and downstream divisions after shift away from low carbon push

The Independent UK

BP sees ‘exceptional’ oil trading result as Iran war sends crude costs soaring

Oil prices have surged higher since the US-Israel war on Iran started and are now more than 60% up so far this year.

The Guardian - US

‘A disturbing lack of integrity’: Columbia students file complaint against energy thinktank taking big oil money

Members of Sunrise Movement chapter claim university’s energy center engaging in deceptive trade practices

Evening Standard

FTSE 100 suffers losses amid fears over US-Iran ceasefire

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Barchart

Oil Prices Crash 16% on Iran War Ceasefire—Why ExxonMobil Is Still the Only Buy That Makes Sense

Oil prices and stocks had soared on the escalation of the Iran war, but a two-week ceasefire sent them plummeting. However, regardless of whether the ceasefire holds or new hostilities break out, one oil stock is a buy no matter which way this conflict goes.

Evening Standard

Stocks surge and oil tumbles amid US-Iran ceasefire

The FTSE 100 closed up 260.09 points, 2.5%, at 10,608.88.

The Guardian - UK

BP shareholders advised to vote against chair over climate resolution exclusion

Glass Lewis says blocking of proposal to share company’s longer-term strategy at AGM raises transparency issues

The Independent UK

Jet fuel rationing introduced at four airports in Italy

Air BP Italia has fuel restrictions in place until at least 9 April

The Guardian - UK

Northern Ireland leads surge in fuel prices since start of Iran war

Petrol has risen 19% and diesel 35%, while in England the north has had the sharpest increases

Evening Standard

Shareholder activists accuse BP of trying to weaken climate transparency

A group of green investors have accused the oil major of seeking to cut the amount of climate-related information that it has to share.

The Guardian - UK

BP is operating in a world of ‘significant complexity’, new boss tells staff

Meg O’Neill’s memo comes as company tries to rebuild strategy amid oil shock of Iran war and after failed green pivot

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