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The Latest Breaking News from British Petroleum

Windfall tax calls intensify as BP reports highest profit in a decade

In a bid to steer off criticism, the oil and gas giant stated it would be paying around £1bn in taxes this year

Insider UK

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

Earnings Scheduled For May 3, 2022

Companies Reporting Before The Bell • Kiniksa Pharmaceuticals (NASDAQ:KNSA) is projected to report earnings for its first quarter.

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

Johnson acknowledges ‘more that we can do’ to tackle cost-of-living crisis

Prime Minister Boris Johnson warned about the danger of fuelling an inflationary spiral if Government intervention was not carefully controlled.

The Independent UK

Russia sanctions: Mercedes-Benz and L’Oreal join firms severing ties over Ukraine invasion - see full list

Banks, businesses, oligarchs, politicians and military leaders all targeted with harsh economic penalties by Western democracies as punishment for Vladimir Putin’s actions

The Independent UK

Cost of living support ‘isn’t enough’ to help everyone, admits Boris Johnson

Moves made by chancellor won’t ‘work enough in the short term’, concedes PM

The Independent UK

BP profits DOUBLE to £5billion as energy and petrol prices trigger cost of living crisis

It comes amid a cost of living crisis that has left millions of households struggling to afford basic essentials such as food and transport due to soaring inflation

Daily Mirror

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FTSE 100 Live: BP pledges £18bn UK investment as profits hit $6.2bn

BP’s profits hit $6.2 billion (£5 billion) in the first three months of this year after benefiting from the soaring price of oil and gas.

Evening Standard

UK factories raise prices at record pace; windfall tax calls grows as BP earnings swell – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

BP profits double to $6.2bn, fuelling calls for energy windfall tax

Results are ‘obscene’, say unions, after soaring oil and gas prices help company to beat forecasts

The Guardian - UK

BP’s £5bn profit triggers fresh calls for energy windfall tax

BP posted its best quarterly earnings in more than a decade as the government comes under pressure to do more to ease the cost of living crisis

Evening Standard

Gulf of Mexico oil drilling makes too-little, too-late comeback

A new wave of oil platforms is sweeping into the U.S. Gulf of Mexico as crude prices are riding historic levels and demand for barrels is higher than ever.

Tribune News Service

BP's Earnings Outlook

BP (NYSE:BP) is set to give its latest quarterly earnings report on Tuesday, 2022-05-03. Here's what investors need to know before the announcement. Analysts estimate that BP will report an earnings per share (EPS) of $1.33.

Benzinga

BP to pay more than $65,000 over 2020 jet fuel spill in Adelaide's Port River

Petroleum giant BP will pay a $48,000 fine and other costs for spilling jet fuel into Adelaide's Port River in 2020, triggering complaints to environmental authorities from concerned residents.

ABC News

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The Guardian - UK

Rate of UK dividend growth far outstripping wage increases, says report

Thinktank says workers would have £2,100 a year more on average if wages over past two decades matched shareholder payout rises

The Guardian - UK

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

Benzinga

Disney Communications Chief Geoff Morrell Resigns After Three Months

Geoff Morrell, the Walt Disney Co.’s (NYSE: DIS) chief corporate affairs officer who crafted the company’s public response to Florida’s so-called “Don’t Say Gay” legislation, has left the company after three months on the job.

Bristol Post

M5 service stations: The best and worst rated by TripAdvisor reviews

Customers have ranked the best service stations on the motorway for those driving this bank holiday weekend

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Benzinga

Peering Into BP's Recent Short Interest

BP's (NYSE:BP) short percent of float has risen 3.39% since its last report. The company recently reported that it has 19.74 million shares sold short, which is 0.61% of all regular shares that are available for trading.

The Guardian - UK

Oil and gas industry defends North Sea spending levels as Kwarteng urges more

Business secretary calls for increased investment by energy producers to avoid being hit with tax on soaring profits

InsideEVs

Europe: Volkswagen And BP Launch Rapid Rollout Of Fast Chargers

Volkswagen Group and BP announced the launch of their strategic partnership related to electric vehicles across Europe.

Benzinga

Volkswagen Aims To Install 8,000 EV Fast-Charging Spots In Europe By 2024

Volkswagen Group (OTC: VWAGY) said on Thursday it plans to install up to 8,000 fast charging points for electric vehicles across Europe in partnership with the U.K.-based oil major BP Plc (OTC: BPAQF).

The Hindu

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 Guardian - UK

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

How would a UK windfall tax on oil and gas profits work?

Analysis: Sunak hints Labour proposal ‘not off the table’ but criteria suggests very few firms would be penalised

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