News on BP plc

Britain BP Devon Energy

2010-03-11T12:16:32Z

FILE - In this Oct. 25, 2007 file photo, the BP (British Petroleum) logo is seen at a gas station in Washington. BP will spend $7 billion to buy exploration rights to areas in the Gulf of Mexico, offshore Brazil and Canada owned by Gulf of Mexico and Brazil from Devon Energy for $7 billion</div><div><p>BP is expanding its dominant oil and gas operations in the Gulf of Mexico and dropping anchor off Brazil with a $7 billion deal to buy exploration rights from Devon Ener...

Report: BP is pursuing Devon Energy assets

2010-03-10T15:00:56Z

<div id="subtitle">Report: BP PLC emerges as leading candidate for Devon Energy's Gulf, international assets</div><div><p>BP PLC, Europe's second-largest oil company, is the leading candidate to purchase assets worth more than $5 billion from independent oil and gas producer Devon Energy, the Reuters) - The chief executive of Europe's largest oil company by production, BP Plc, enjoyed a 41 percent rise in total pay in 2009, even though profits dropped 45 percent.</p><p>Tony Hayward took home 4.01 million pounds ($6.03 million) in salary, ...

BP seeks $3B boost to pretax profit

2010-03-02T10:15:20Z

<div id="subtitle">BP plans to improve efficiency and reduce costs as it aims to boost pretax profit by $3B</div><div><p>BP PLC pledged Tuesday to boost its annual pretax profit by more than $3 billion over the next two to three years, with plans for scores of new projects to counter declining output from existing oil and gas fields.</p><p>The company said it expects to lift oil and gas production by an average of be...

3 big companies leave climate partnership

2010-02-22T09:12:03Z

<div id="subtitle">ConocoPhillips, BP, Caterpillar leave climate action partnership</div><div><p>Three large companies have left the U.S. Climate Action Partnership, a coalition of more than two dozen companies and environmental groups lobbying Congress to pass a bill comba...

BP downbeat on oil refining margins

2010-02-22T09:14:21Z

<div id="subtitle">BP says oil refining margins unlikely to improve this year as industry outlook challenging</div><div><p>Oil refining margins — the profits made from turning a barrel of crude into gasoline, diesel and other fuels — are unlikely to improve substantially this year, a BP PLC executive said on Tuesday.</p><p>Richard Hookway, BP's chief financial officer f...

Oil industry looks to Iraq for boost

2010-02-22T09:17:23Z

<div id="subtitle">Oil executives look forward to Iraq production, but warn that challenges remain</div><div><p>Oil industry leaders believe Iraq's resurgence as a major producer will change the face of the world's energy market, but they warn that the country — and the Middle East generally — still needs to improve infrastructure, security and exp...

BP Announces USOC Sponsorship

2010-02-15T20:46:13Z

VANCOUVER, BC - FEBRUARY 15: (L-R) Lisa Baird Chief Marketing Officer of the USOC, Scott Blackmun Chief Executive Officer of the USOC, Luc Bardin Group Chief Sales Marketing Officer of BP and Dave Nagel Executive Vice President of BP America...

BP in talks over $1.2 billion Canadian oil sands deal: report

2010-02-22T09:35:35Z

<div><p>LONDON (Reuters) - British oil major BP Plc is in talks to pay about $1.2 billion for a majority stake in a privately held Canadian company with large reserves of oil-rich sand deposits, the Sunday Times reported.</p><p>A deal to take a stake in Value Creation...

Global oil refining sector needs consolidation: BP

2010-02-22T09:26:24Z

<div><p>LONDON (Reuters) - Consolidation is needed in the global oil refining sector, the chief economist of BP Plc &lt;BP.L&gt; said on Monday, indicating more tough decisions ahead for an industry beset by poor margins.</p><p>Oil companies including BP and Reuters) - Royal Dutch Shell Plc &lt;RDSa.L&gt; said it planned even deeper cuts to its oil refining and retail operations after downstream weakness caused a 75 percent fall in fourth-quarter profits to $1.18 billion.</p><p>Chief Executive future

BP profit up as oil prices rise, misses forecasts

2010-02-22T12:43:27Z

<div><p>LONDON (Reuters) - British oil major BP Plc &lt;BP.L&gt; reported a lower than forecast 33 percent rise in fourth-quarter replacement cost profit as refining margins were squeezed and warned an operational turnaround would slow in 2010.</p><p>Europe's largest oil co...

BP's $4.3 billion Q4 profit below expectations

2010-02-22T12:47:03Z

<div id="subtitle">BP reports 4th quarter profit of $4.3 billion, up from year-ago loss but down on the quarter</div><div><p>BP PLC, Europe's second-largest oil company, on Tuesday reported a net profit of $4.3 billion for the fourth quarter, up from a year-ago loss but short of analysts' estimates, due to weak earnings on refining.</p>&...

KBR to market BP refining technology

2010-02-22T17:02:08Z

<div id="subtitle">KBR to market BP's Veba Combi refining technology under new agreement</div><div><p>Engineering and construction company KBR Inc. will promote and market a BP-owned refining technology under an agreement announced Thursday.</p><p>Veba Combi cracking technology, or VCC, uses hydrogen to upgrade residual oils into high-quality distillates and synthet...

Cleanup ends at damaged BP-operated pipeline: officials

2010-02-22T20:08:36Z

<div><p>ANCHORAGE, Alaska (Reuters) -- After weeks of work, crews have finished cleaning up the oil and oil-laced produced water that leaked out of a ruptured pipeline in November at the BP Plc-operated Lisburne field, company and state officials said Thursday.&lt...

Prudhoe Bay oil spill now as much as 100 gallons

2010-02-23T08:03:45Z

<div id="subtitle">BP revises estimate of Prudhoe Bay oil spill to as much as 100 gallons, up from 3</div><div><p>BP now estimates as much as 100 gallons of crude oil may have spilled in an area around a well house where a pipe broke in the Prudhoe Bay oil field, Alaska officials said Tuesday. BP's initial estimate was 3 gallons of oil.<...

Spill occurs at Prudhoe Bay oil field

2010-02-23T12:26:48Z

<div id="subtitle">Prudhoe Bay operator discovers spill at Prudhoe Bay oil field</div><div><p>A new spill has occurred in Alaska's Prudhoe Bay oil field, the Department of Environmental Conservation said Tuesday.</p><p>The spill was discovered Monday by a BP oil field opera...

Jury awards BP workers $100 million in lawsuit

2010-02-23T13:57:56Z

<div id="subtitle">Jury awards $100 million to workers who claimed injuries at BP Texas City plant</div><div><p>A federal jury Friday awarded more than $100 million to 10 workers who claimed they were injured in 2007 when a toxic substance was released at BP PLC's Texas City plant.</p><p>The jurors in Reuters) - A federal jury in Texas on Friday ordered BP Plc &lt;BP.L&gt; &lt;BP.N&gt; to pay $100 million to 10 workers who were sickened by a 2007 chemical release at its Texas City refinery.</p><p...