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The Latest Breaking News from British Petroleum

Former BP Oil CEO Joins AI Data Center Startup Prometheus Hyperscale

Bernard Looney, former CEO of oil and gas giant BP said on Sunday that he will join AI data center start-up, Prometheus Hyperscale, as the chairman of the board of directors.

Benzinga

‘Protect the climate for whom?’: Palestinians highlight Gaza at Cop29

Advocates and officials argue that consequences of Israeli siege are inextricably linked to tackling the climate crisis

The Guardian - UK

Russia-Ukraine escalation fears push oil and defence stocks higher

Energy majors Shell and BP tracked rising oil prices on Thursday, while defence-oriented firms Rolls-Royce and BAE Systems also made solid gains.

Evening Standard

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Revealed: McKinsey clients had ‘rising share of global emissions’, internal analysis shows

Consulting giant had said it engages with clients to help them transition to cleaner energy even as it knew they were in line to exceed climate targets

The Guardian - US

Fossil fuel bosses get ‘red carpet’ at Cop29 despite concerns over influence

Revealed: more than 100 executives given special guest badges as activists challenge role of oil and gas firms at talks

The Guardian - UK

Big oil firms knew of dire effects of fossil fuels as early as 1950s, memos show

Newly unearthed documents contain warning from head of Air Pollution Foundation, founded in 1953 by oil interests

The Guardian - US

Carbon credit trade rules approved, breaking lengthy deadlock – Cop29 day one, as it happened

Draft decision on article 6 approved with no objections

The Guardian - UK

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Exxon Mobil, Chevron Beat Earnings. But Only One Hiked Its Dividend.

U.S. supermajors Chevron and Exxon Mobil reported third-quarter earnings and revenue before the market opened on Friday.

Investors Business Daily

Investors need clarity on BP policy not boss’s weak promises

Shareholders still do not know if giant will jettison goal to cut oil and gas production by 25% by 2030

The Guardian - UK

FTSE slides in run-up to Budget as BP shares tumble

The FTSE 100 finished 66.01 points, or 0.8%, lower to end the day at 8,219.61.

Evening Standard

'Shameful' Labour told to act as BP records 'obscene' profits

LABOUR have been told to close the loopholes in the windfall tax and use it to end cuts to the Winter Fuel Payments ...

The National (Scotland)

Oil Giant BP Reports Drop In Third-quarter Net Profit

The group earlier this month flagged to markets that its latest earnings would take a sizeable hit after oil prices have fallen on concerns over Chinese demand and the prospect of higher crude production in 2025.

International Business Times

BP posts weakest quarterly profits in almost four years amid lower oil prices

Energy company says it plans to cut at least $2bn of cash costs from the business by the end of 2026

The Guardian - UK

BP delivers smallest quarterly profit since the pandemic amid shareholder unrest

Oil supermajor to reward investors with a dividend of 8 cents and a $1.75 billion share buyback “as part of our $3.5 billion commitment for the second half of 2024.”

Evening Standard

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The Independent UK

BP profits slump as faltering demand hits refining margins

The energy giant said profits were down more than 30% compared with the same period a year earlier, amid faltering oil demand globally.

Evening Standard

FTSE 100 Live 29 October: HSBC shares rally as results beat hopes, BP profits fall

Top marks for Pearson and forecast-beating HSBC today contrasted with a results-day setback for BP near the foot of the FTSE 100 index.

Evening Standard

Oil prices tumble as ‘hopes of de-escalation’ in Middle East rise

The FTSE 100 moved 36.78 points higher, or 0.45%, to close at 8,285.62.

Evening Standard

FTSE 100 Live 28 October: Oil price slide hits BP and Shell, Trainline upgrades guidance

A 5% slide in the price of Brent Crude today ensured BP and Shell led the fallers board during an otherwise resilient session for the FTSE 100 index.

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The Independent UK

BP and Shell to reveal lower profits amid decline in oil refining margins

BP reports third quarter results on Tuesday and Shell on Thursday when faltering oil demand is expected to hit earnings.

Tom’s Guide

Amazon Prime now includes discounts on gas — how to get yours now

Amazon is giving Prime members a new money-saving benefit that makes the service an even better value.

Fortune

Amazon Prime members can save 10 cents per gallon at the gas pump

New perk follows similar discount from Walmart.

Fortune

Shell slips from the Fortune 500 Europe list’s top spot, lending its crown to troubled Volkswagen

Shell’s record profits in 2022 catapulted it to the top of the Fortune 500 Europe list last year. Could it win back its crown from Volkswagen next year?

Marie Claire

Balzac Paris x Barbour is back with another sell-out collection

Cool-girl approved

The Guardian - UK

‘Very concerning’: BP dilutes net zero targets as global retreat from green standards gathers pace

The oil giant’s new focus on fossil fuels signals another defeat for environmental, social and governance aims and has angered campaigners

The Independent UK

Victoria Taylor: Police search river in hunt for missing mother after finding possessions nearby

Missing person Victoria Taylor’s family is experiencing “unimaginable” distress, police said

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