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The Latest Breaking News from Bernard Looney

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

Daily Mirror

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

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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

The Guardian - UK

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

The move would reduce Government office staff by 20%

Wales Online

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

Evening Standard

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 Independent UK

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Looney’s tune on windfall taxes is unpersuasive

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

The Guardian - UK

Why has Boris Johnson taken his cabinet to Stoke-on-Trent for ‘away day’?

Ministers asked to ‘bring Queen’s Speech to life’ with 300-mile round trip to Staffordshire

The Independent UK

Rishi Sunak plans North Sea oil windfall tax to ease cost of living crisis

The Chancellor is reported to have ordered officials to look at the Labour plan to impose a one off tax on the massive profits generated in the North Sea.

Daily Record

Boris Johnson wavering on opposition to windfall tax amid backlash

BORIS Johnson has signalled he could cave in to opposition demands for a windfall tax on energy companies to help tackle the cost of living crisis.

The National (Scotland)

North Sea oil and gas bosses get combined £25m pay rise

Pay package included a £4.6m ‘golden hello’ for CEO of the sector’s largest operator, Harbour Energy’s Linda Cook

The Guardian - UK

Oil firms collect £22bn in profits as fuel and energy bills soar

BP, Shell and Exxon among firms reporting big rises in revenues, while Britsh Gas and SSE have boosted their earnings expectations

The Independent UK

City comment: BP boss Bernard Looney is doing himself no favours on windfall tax

Bernard Looney is not doing himself any favours.

Evening Standard

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Evening Standard

Evening Standard Comment: As Shell and BP make bumper profits, it could be time to consider a windfall tax

The timing is certainly awkward. Oil giant Shell has reported underlying profits of £7.2 billion in the first quarter of this year, up 43 per cent on the final three months of 2021, thanks to high oil and gas prices. It comes days after BP announced profits of more than…

Bristol Post

BP celebrates record profits - despite UK pensioner riding bus all day to stay warm

BP's underlying profits rose to $6.2 billion for the first quarter of this year

Daily Record

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”.

The Guardian - UK

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

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The National (Scotland)

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…

Evening Standard

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

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

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

Evening Standard

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

The Guardian - UK

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

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