About: BP

Oil giant BP seeks to ‘reinvent’ itself with 2050 zero carbon goal

BP set one of the oil sector’s most ambitious targets for curbing carbon emissions on Wednesday (12 February) as new chief executive Bernard Looney began the biggest revamp in the company’s 111-year history.

BP shareholders demand climate action, but reject calls for hard targets

An overwhelming vote in favour of climate action at BP's annual meeting yesterday (21 May) shows how activist investors have started to move the oil and gas industry. But it also showed the limits to their appetite for change.

European oil majors better prepared for energy transition than US, Chinese counterparts

Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.

BP confesses ‘mistake’ in forecasting renewable energy growth

The pace at which India – and China in particular – have developed solar power came as a surprise to BP analysts, the company’s chief economist told EURACTIV in an interview.

Italian olive grove stands in way of European energy security

In the name of European energy security, a private guard wearing a navy blue uniform, aviator sunglasses and a baseball cap walks around a grove of olive trees in southern Italy.

BP to pay record fine for Deepwater Horizon oil spill

The US government on Monday (5 October) announced the details of a record $20 billion civil settlement with the British oil company BP over the 2010 explosion of the Deepwater Horizon oil rig in the Gulf of Mexico.

French business group top of EU ‘anti-climate’ lobby list

Nearly half of the world's 200 biggest companies actively fight regulation to protect the climate, a study has revealed. French business group MEDEF and oil company Total are among the worst offenders. EurAtiv France reports. 

Europe’s energy big six say gas must help in the fight against climate change

The bosses of Europe’s six largest energy companies, including BP and Shell, have said gas should play a vital role in plans to tackle global warming, in a rare public intervention aimed at influencing UN talks.

France hosts Armenia-Azerbaijan summit over Nagorno-Karabakh

Armenian and Azeri leaders have agreed to pursue talks over the disputed Nagorno-Karabakh region after resuming direct contacts at a meeting in Paris Monday (27 October), the French government said.

BP turns to government in Russian venture

BP is ending a stormy relationship with Russian tycoons from a company known as AAR and is instead targeting a partnership with government-owned Rosneft. The deal, worth over $25 billion (€19.18 billion) could give the British oil company a stake of between 16% and 20% in the Russian oil giant. 

Beyond Arctic petroleum

Asian energy majors have long understood that going 'upstream' and going 'national' is the way of the future, and China might well be the next bride willing to go down the Russian aisle, write Matthew Hulbert, senior fellow for energy and political risk at ETH Zurich, and Dr Christian Brütsch, senior lecturer at the University of Zurich.

‘Bolshoi Petroleum’ deal collapses

Negotiations between British Petroleum and Rosneft, Russia's leading oil company, to develop three massive offshore exploration blocks in the Arctic have failed, according to media reports yesterday (17 May).

Environmentalists blast UK-Russia ‘Bolshoi Petroleum’ deal

BP agreed on 14 January to form a joint venture with Rosneft to develop three massive offshore exploration blocks that Rosneft owns in the Arctic territory of Russia. US lawmakers, the UK's opposition Labour party and environmentalists blasted the deal, which has been dubbed 'Bolshoi Petroleum'.

Brussels convenes safety talks on deep-sea oil drilling

In the aftermath of the BP oil slick in the Gulf of Mexico, Energy Commissioner Günther Oettinger and Environment Commissioner Janez Poto?nik will meet representatives of oil and gas companies and national surveillance authorities on 14 July 2010.

TNK-BP settlement welcomed in Brussels

An agreement between BP and TNK over the governance of their joint Russian undertaking was welcomed in Brussels, where the European Commission is following the situation closely after Shell, the Anglo-Dutch energy giant, was forced to pull out of a lucrative gas project in Siberia.