Page 2 - Bp

BP's $3.3 billion profit misses forecast on weak gas, dividend unchanged

The British company maintained its dividend at 7.27 cents per share and extended its $1.5 billion share buyback programme over the next three months, leaving its payout policy unchanged

BP's US prez David Lawler quits just weeks after CEO Looney's resignation

The high-profile departure comes only two weeks after Looney resigned, admitting to not fully disclosing relationships with colleagues

Shift from fossil fuel to renewable energy must avoid price shock: BP chief

British energy major BP chief executive Bernard Looney on Saturday echoed India's views on energy transition being just and orderly, saying the shift from fossil-based system of energy to renewable sources has to be done in a manner so as to avoid price shocks like the ones witnessed last year. Looney said oil and gas will continue to be a source of energy for the world for "many, many decades to come" and companies and countries around the world have to continue investing in existing fossil fuels and in transition projects at the same time. Speaking at the B20 Summit India organised by CII, he said the world needs a rapid and at the same time orderly transition. Oil and gas, extracted from below ground and seabed and used to power vehicles, fly airplanes, produce power and used in several industries, make up for 55 per cent of the world's energy consumption. Replacing it won't happen overnight and so there is a need to continue investing in today's energy system so as to meet dema

BP's profit rises to $5 billion, but shares fell as shares buyback slows

BP's shares, however, were around 4.5% lower by 0923 GMT - compared with a drop of around 1.3% for an index of European oil companies

RIL-bp sets $11 per mmBtu as opening price for gas auction from KG-D6 block

Reliance Industries Ltd and its partner bp of the UK have offered for auction 6 million standard cubic metres per day of more gas from their KG-D6 block as the partners bring the deepest field in the block to production. The two partners will on May 19 e-auction 6 mmscmd of gas, whose supplies will start from June 1, according to a tender document. Bidders have been asked to quote a variable 'v' over and above the JKM price, the spot market benchmark for liquefied natural gas (LNG) delivered to Japan and South Korea. The starting bid price is V = USD -0.06 (minus 0.06) per mmBtu. "Each Bidder is required to enter bids that are higher than or equal to the starting bid price," the tender document said, adding the maximum value of 'v' that would be accepted will be USD 0.75 per mmBtu. The JKM price is around USD 11.5 per million British thermal units at present. And the start price of the auction translates into a gas price of USD 11.44 per mmBtu and at the ceiling, it would result in

bp slows transition to renewable energy as oil bonanza continues

Announces further $2.75 bn in share buybacks; annual profit more than doubles to a record $28 bn

BP rakes in quarterly net profit of $8.2 billion after price surge

The firm more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion

EV charging stations to be installed by Jio-bp at Nexus Malls' properties

"As part of this partnership, Nexus malls will be installed with 24x7 charging infrastructure for two and four-wheeler EVs," Jio-bp said in a statement.

Volkswagen, BP could expand e-car charging alliance to other regions

Volkswagen also has European charging cooperations with Italy's Enel and Spain's Iberdrola, with Diess saying there would soon be an update on the latter alliance

Exxon Mobil faces new pressure over dealings with Russia's Rosneft

Exxon holds a 30% stake, alongside Rosneft, Japan's SODECO and India's ONGC Videsh, in Sakhalin Island oil and gas fields in Russia's Far East

Ukraine conflict: BP exit opens new front in West's campaign against Russia

Companies with Russian assets under pressure; some Russian banks shut out from SWIFT; EU, Canada, Britain shut airspace to Russia

BP stock slides as Russia exit plan may result in $25-bn bill

BP is the biggest foreign investor in Russia, and its dramatic exit puts the spotlight on other Western companies with operations in the country amid an escalating crisis between the West and Moscow

BP's annual profit hits 8-year high as it boosts low carbon plans

BP reports $12.8 billion profit in 2021; BP expands greenhouse gas emission reduction plans

BP's venture capital arm looks to India in clean mobility drive

So far, bp ventures only has one Indian investment - it put $13 million into EV ride-hailing firm BluSmart in September - and the country makes up about 2% of its $800 million portfolio

Global oil demand back above 100 million barrels a day, says BP

Company posts $3.3 billion third-quarter profit, beating estimates as oil prices surge

BP invests about Rs 97 crore in BluSmart, its first fund in India

BluSmart will use the capital to expand its fleet of electric vehicles (EVs) and charging stations from its home city of Delhi to five additional Indian cities in the next two years

BP leads $25 mn funding round in EV ride-hailing start-up BluSmart

BP Ventures has made its first direct investment in India by pumping in USD 13 million in integrated EV ride-hailing and charging company BluSmart. It led a USD 25 million Series A round that also saw support from Mayfield India Fund, 9Unicorns and Survam Partners, alongside other existing investors, the firm said in a statement. "BluSmart will use the capital to expand its fleet of electric vehicles and charging stations from its home city of Delhi to five additional Indian cities in the next two years," it said. The statement, however, did not say the funding will translate into how much equity holding in BluSmart. Sophia Nadur, managing partner at BP Ventures, will join BluSmart's board. To date, BP Ventures has invested almost USD 800 million in more than 60 companies across seven geographies. BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy ...

Jio-bp partners with BluSmart to set up EV charging infra in India

BluSmart, through its all electric fleet, provides zero-surge and zero-tailpipe emission ride-hailing service in the Delhi NCR

Reliance, BP start production at Satellite Cluster ahead of schedule

The second of the three deep-water gas developments, planned jointly, was expected to start production in mid-2021

Gas price for ONGC remains at decade low of $1.79, falls 11% for RIL-BP

The government on Wednesday left the price of natural gas produced by companies such as ONGC unchanged at a decade-low rate of USD 1.79