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The Latest Breaking News from British Petroleum

Fuel companies increase profit margins in cost-of-living crisis

Who you going to call? There's no ministerial price-buster in the transition between two governments

Newsroom.co.nz

How oil companies put the responsibility for climate change on consumers

The political response to the climate crisis remains largely inadequate in the face of heat waves, hurricanes, floods and forest fires that are accelerating and intensifying.

The Conversation

New Mexico’s Experiment With Recapturing Natural Gas Raises Questions

Meanwhile, banks help fossil fuel giants raise more than $1 trillion via “hidden” financial support.

Capital & Main

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FTSE 100 Live: Index climbs, Oil giants and Metro Bank shares under pressure, Imperial Brands in £1bn buyback

Figures on US wage and employment growth will today keep the interest rate outlook in focus at the end of a volatile week for markets.

Evening Standard

UK universities take £40m in fossil fuel funding since 2022

FoI requests show Shell and BP among firms giving funds to institutions which have pledged to divest

The Guardian - UK

Biden calls for up to 3 offshore oil leases in Gulf of Mexico, upsetting both sides

The administration's proposal seeks to strike a balance between energy companies seeking greater oil and gas production and environmental activists who want Biden to shut down new offshore drilling.

WEKU

Biden calls for up to three oil and gas lease sales in the Gulf of Mexico, disappointing all sides

President Joe Biden's administration has proposed up to three oil and gas lease sales in the Gulf of Mexico over the next five years but none in Alaska

The Independent UK

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Tainted love: is it all over for the workplace romance?

Company values, employment law and fairness at work have changed the politics of office relationships

The Guardian - UK

OPINION - Dull corporate bores are trying to outlaw the office romance — how hopeless

The corporate world is another country. They do things differently there. Yet another big swinging dick has bitten the dust after the board discovered “historical” romantic liaisons he hadn’t reported to them.

Evening Standard

Crisis-hit CBI shelves plans for tie-up with manufacturing body Make UK

Confederation of British Industry tells members it is confident an alternative emergency cash rescue will be found

The Guardian - UK

Cboe’s CEO resigns: Yet another chief ousted for undisclosed relationships

Cboe announced Edward Tilly's resignation in a statement on Tuesday following an investigation that determined the CEO's lack of transparency 'stands in stark contrast to the company’s values'.

Fortune

BP names Kate Thomson as interim CFO. Now, 3 major oil and gas companies have women at the helm of finance

Thomson brings deep technical knowledge together with a detailed understanding of the company, says BP's interim CEO Murray Auchincloss.

Fortune

EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?

Electric vehicle sales are growing faster than expected around the world, and, sales of gas- and diesel-powered vehicles have been falling. Yet, the U.S. government still forecasts an increasing demand for oil, and the oil industry is doubling down on production plans.

The Conversation

California's lawsuit says oil giants downplayed climate change. Here's what to know

California accuses oil companies of misleading the public on the dangers of fossil fuels for decades. The state demands they help fund recovery efforts after climate change-fueled disasters.

WEKU

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The Guardian - UK

BP to review personal relationships between staff to root out ‘problematic’ conduct

Exclusive: oil giant to put particular focus on senior managers after shock departure of CEO Bernard Looney

The Guardian - UK

New BP boss to replace Bernard Looney could be external hire, says chairman

Helge Lund says hiring process could lead to oil giant’s first external chief executive hire for decades

The Guardian - UK

BP must not backtrack on climate action after CEO’s exit, say campaigners

Outgoing chief executive Bernard Looney presided over plans to cut fossil fuel output by end of decade

The Guardian - UK

Thursday briefing: What we know about the sudden exit of BP’s Bernard Looney

In today’s newsletter: The CEO quit after admitting he had not been ‘fully transparent’ about relationships he had with employees – is this just the start of a new era of corporate accountability?

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The Guardian - UK

BP board faces questions over ex-CEO’s personal relations with colleagues

Sources say there was speculation about Bernard Looney’s relationships at the firm long before he became chief executive

The Guardian - UK

BP needs a new chief executive not a slower strategy towards net zero

Oil firm should get out and argue the case for sticking to the transition timetable as Bernard Looney’s successor is sought

Evening Standard

When BP chiefs depart, it’s usually a dramatic exit

City Comment: These embarrassing boardroom distractions are not helpful

Evening Standard

FTSE 100 Live: Shares close flat as UK GDP shrinks by 0.5%, BP CEO quits, US inflation up

The shock resignation of one of the UK’s most influential captains of industry was the main talking point on London’s stock market today, as the FTSE 100 held steady overall.

Evening Standard

BP ‘turtle’ Brendan Looney out of the company he loved after relationships with staff

The story of how BP’s £10m-a-year-boss Brendan Looney had it all and threw it away

The Guardian - UK

BP shares fall after shock departure of chief executive

Bernard Looney resigned having admitted to failing to fully detail relationships with colleagues

The Independent UK

BP leader is the latest to resign over questions about personal conduct

Global energy giant BP is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct

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