BP

$BP

NYSEEnergy

407 stories mentioning BPUpdated 1d ago

Featured in energy-sector and European ADR roundups as oil prices swung around the US-Iran truce reopening the Strait of Hormuz.

What's the latest news on BP?

Equities113d ago

Market Chatter: Former BP Chair's Elliott Meetings Raised Governance Concerns

Former BP (BP) Chair Albert Manifold met with activist investor Elliott Management without directly notifying other board members, Reuters reported Thursday, citing sources familiar with the matter.BP removed Manifold less than eight months into the role over governance and conduct concerns, with some board members viewing his meetings with Elliott as unilateral actions, according to the report.Manifold had notified BP's investor relations team about the meetings, which were expected to be included in regular board updates, Reuters added.BP did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP

Sectors114d ago

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed up 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a fall of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a Bloomberg survey.In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.Ecopetrol (EC) said Thursday its board has postponed the start date of the previously announced unpaid leave of Chief Executive Ricardo Roa Barragan. Ecopetrol shares fell 1.1%.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.8%.Baker Hughes (BKR) said it has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 2.3%, and Equinor was up 0.1%.

$BKR$BP$EC$EQNR$TTE

Wire114d ago

Sector Update: Energy

Energy stocks were edging up late Thursday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) both fractionally higher.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed 5% to $3.04 per 1 million BTU.In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.

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Wire114d ago

Market Chatter: BP's Chairman Clashed With Company Secretary Before Ouster

BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported Thursday, citing four sources familiar with the matter.Mathews had concerns about the former chair's conduct, some of the sources said. A source close to Manifold said that he and Mathews had disagreements over costs, and that the company secretary was the "driver" behind the decision to oust Manifold, according to the report.BP's board on Tuesday announced the removal of Manifold due to "serious concerns" about governance standards, oversight, and conduct. Manifold rejected the allegations against him in a statement on Thursday, according to a CNBC report.BP did not immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $41.38, Change: $-0.27, Percent Change: -0.65%

$BP

Sectors114d ago

Sector Update: Energy Stocks Edge Higher in Afternoon Trading

Energy stocks were slightly higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) fractionally higher.The Philadelphia Oil Service Sector Index was falling 1.4%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil was fractionally higher at $88.69 a barrel, and the global benchmark Brent crude contract was dropping 1% to $93.36 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a decrease of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a survey compiled by Bloomberg.In corporate news, TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.9%.Baker Hughes (BKR) has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 1.6%, and Equinor was fractionally higher.BP (BP) will become operator of Azerbaijan's offshore Babek natural gas field under an agreement expected to be announced with state energy company Socar on June 1, Reuters reported. BP shares were down 0.5%.

$BKR$BP$EQNR$TTE

Sectors114d ago

Sector Update: Energy

Energy stocks were slightly higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.4%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil was fractionally higher at $88.69 a barrel, and the global benchmark Brent crude contract was dropping 1% to $93.36 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In corporate news, BP (BP) will become operator of Azerbaijan's offshore Babek natural gas field under an agreement expected to be announced with state energy company SOCAR on June 1, Reuters reported. BP shares were down 0.4%.

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Commodities114d ago

Market Chatter: BP to Operate Azerbaijan's Babek Gas Field Under New Deal

Energy major BP (BP) will become the operator of the offshore Babek natural gas field in Azerbaijan under an agreement expected to be announced next week, Reuters reported on Wednesday, citing three industry sources.BP already has extensive oil and gas operations in the South Caucasus nation, whose energy resources have gained greater strategic importance for Europe as the region has moved to reduce its reliance on Russian energy supplies.Azerbaijan's state energy company SOCAR and BP are reportedly set to announce the agreement on June 1.The Babek field is estimated to contain around 400 billion cubic meters of natural gas and 80 million metric tons of condensate.The field is currently part of a SOCAR-led development unit but will become a separate project operated by BP under the new arrangement, the report said.BP and SOCAR did not immediately respond to requests for comment by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $41.48, Change: $-0.17, Percent Change: -0.41%

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Equities114d ago

Market Chatter: BP Set to Become Operator of Babek Gas Field in Azerbaijan

BP (BP) will become operator of Azerbaijan's offshore Babek natural gas field under an agreement expected to be announced with state energy company SOCAR on June 1, Reuters reported Thursday, citing three unnamed sources.The Babek field is estimated to contain around 400 billion cubic meters of natural gas and 80 million tonnes of condensate, according to the report.The project is currently part of a SOCAR-led unit but will become a separate development operated by BP, Reuters reported.BP did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP

Equities114d ago

BP's Former Chairman Albert Manifold Denies Allegations Surrounding Ouster

BP's (BP) former chairman, Albert Manifold, has rejected allegations leveled against him during his tenure at the oil and exploration giant, CNBC reported Thursday.BP's board on Tuesday announced the removal of Manifold due to "serious concerns" about governance standards, oversight, and conduct.In a response issued on Thursday, Manifold said that while he does accept the board's decision to remove him as chairman, he did not accept "that lies can be told about me, nor that anyone should be allowed to hide behind anonymity when commenting on my time at bp," the news report said."We note the comments of our former chair. We stand by the statement we have made. We have a duty of care to all our employees, particularly those impacted by his behavior," a BP spokesperson said in an e-mailed comment.

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Commodities115d ago

Update: Ex-BP Chair Reportedly Says He Was Dismissed Without Explanation

(Updated with BP's comments in paragraphs 3, 4 and 7)Former BP (BP) Chairman Albert Manifold said on Wednesday that he was dismissed without warning or explanation and intends to challenge the energy firm's version of events, according to multiple media reports.BP ousted Manifold on Tuesday after eight months, citing "serious concerns" regarding "governance standards, oversight and conduct.""Albert has helped bring a welcome focus and pace to BP's transformation. However, the Board has been surprised and disappointed to learn of governance oversight and conduct issues it deems unacceptable and has taken decisive action," said Amanda Blanc, Senior Independent Director at BP.BP appointed Ian Tyler as interim chair with immediate effect.Though the British energy major provided no further details, the decision reportedly followed complaints concerning Manifold's behavior toward employees, the mishandling of sensitive information, and attempts to bypass the board."I was removed without warning and without explanation," Manifold reportedly said. "I dispute entirely the characterization of my conduct, and I will not allow a false narrative to go unchallenged."BP directed requests for comment on Manifold's departure to its previously issued press release.Manifold's dismissal marks the latest chapter in a prolonged period of leadership upheaval at BP, which has cycled through three CEOs in as many years. The move raises fresh questions about internal processes as the company attempts to reverse years of poor performance.Manifold, who joined BP in October after leading building-materials giant CRH, was viewed as a driving force behind the energy firm's strategic reboot.His departure consolidates the authority of CEO Meg O'Neill, whom Manifold hired last year. O'Neill, the first female CEO of a major integrated oil company, began reshaping the firm with a restructuring plan announced within weeks of taking the role last month.Prior to his departure, investors had welcomed several of Manifold's initiatives, including his push to prioritize core oil and gas investments, improve operational efficiency and divest non-core assets.BP signaled on Tuesday that it intends to maintain the strategy initiated under Manifold.Price: $41.41, Change: $-1.25, Percent Change: -2.92%

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Asia Markets115d ago

European Equities Traded in the US as American Depositary Receipts Decline in Wednesday Trading

European equities traded in the US as American depositary receipts were tracking lower late Wednesday morning, declining 0.48% to 1,880.02 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by internet advertising firm Criteo (CRTO) and biopharmaceutical company argenx (ARGX), which rose 5% and 2.8% respectively. They were followed by consumer goods company Unilever (UL) and biotech firm BioNTech (BNTX), which were up 2.1% and 1.9% respectively.The decliners from continental Europe were led by telecommunications companies Ericsson (ERIC) and Nokia (NOK), which dropped 4.1% and 3.4% respectively. They were followed by semiconductor company Sequans Communications (SQNS) and oil and gas company Eni (E), which lost 3.3% and 3% respectively.The gainers from the UK were led by biotech firm Autolus Therapeutics (AUTL) and software company Endava (DAVA), which advanced 3.7% and 3.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and alcoholic beverage company Diageo (DEO), which increased 3% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Akari Therapeutics (AKTX) and oil and gas company BP (BP), which fell 13% and 3.2% respectively. They were followed by utilities company National Grid (NGG) and oil and gas company Shell (SHEL), which were down 2.2% and 2.1% respectively.

$AKTX$ARGX$AUTL$BNTX$BP$CRTO$DAVA$DEO$E$ERIC$NGG$NOK$SHEL$SLN$SQNS$UL

Commodities115d ago

Ex-BP Chair Reportedly Says He Was Dismissed Without Explanation

Former BP (BP) Chairman Albert Manifold said on Wednesday that he was dismissed without warning or explanation and intends to challenge the energy firm's version of events, according to multiple media reports.BP ousted Manifold on Tuesday after eight months, citing "serious concerns" regarding "governance standards, oversight and conduct."Though the British energy major provided no further details, the decision reportedly followed complaints concerning Manifold's behavior toward employees, the mishandling of sensitive information, and attempts to bypass the board."I was removed without warning and without explanation," Manifold reportedly said. "I dispute entirely the characterization of my conduct, and I will not allow a false narrative to go unchallenged."BP did not immediately respond to' request for comment.Manifold's dismissal marks the latest chapter in a prolonged period of leadership upheaval at BP, which has cycled through three CEOs in as many years. The move raises fresh questions about internal processes as the company attempts to reverse years of poor performance.Manifold, who joined BP in October after leading building-materials giant CRH, was viewed as a driving force behind the energy firm's strategic reboot.His departure consolidates the authority of CEO Meg O'Neill, whom Manifold hired last year. O'Neill, the first female CEO of a major integrated oil company, began reshaping the firm with a restructuring plan announced within weeks of taking the role last month.Prior to his departure, investors had welcomed several of Manifold's initiatives, including his push to prioritize core oil and gas investments, improve operational efficiency and divest non-core assets.BP signaled on Tuesday that it intends to maintain the strategy initiated under Manifold.Price: $41.44, Change: $-1.21, Percent Change: -2.84%

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Sectors115d ago

Sector Update: Energy Stocks Decline Premarket Wednesday

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.6% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 5.1% lower at $89.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.2% to $95.41 per barrel, and natural gas futures were up 1.2% at $2.93 per 1 million British Thermal Units.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported, citing unnamed people familiar with the matter. BP stock was down more than 2% premarket.Gran Tierra Energy (GTE) said it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin. Ecopetrol shares were nearly 2% lower pre-bell.

$BP$EC$GTE$TTE$UNG$USO$XLE

Commodities115d ago

Market Chatter: Trinidad's Atlantic LNG Shuts Major Export Unit for Maintenance as Global Supplies Tighten

Trinidad and Tobago's Atlantic LNG facility has shut its 6 million metric tons per annum Train 4 unit for two months of planned maintenance, Reuters reported, citing Gerald Ramdeen, Chairman of the National Gas Company of Trinidad and Tobago.With the outage set to take nearly half of Atlantic LNG's production capacity temporarily offline, near-term LNG supplies are expected to tighten further when global markets are already grappling with disruptions from the closure of the Hormuz Strait.Ramdeen told Reuters on Tuesday that the plant, which is jointly owned by Shell (SHEL), BP (BP) and NGC, was undergoing scheduled maintenance, which wasn't linked to any particular fault or issue.With a total capacity of 12 million metric tons per annum of LNG, the Atlantic LNG facility is the largest in Latin America, and has struggled in recent years amid declining domestic natural gas supplies.The National Gas Company of Trinidad and Tobago did not immediately respond to' request for a comment on this story.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP$SHEL

Equities115d ago

Market Chatter: BP Removes Chairman Over Governance Concerns; Manifold Pushes Back

BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported Tuesday, citing unnamed people familiar with the matter.The concerns centered on Manifold's conduct toward employees, handling of sensitive information and efforts to bypass the board, which he denied as a "false narrative," according to the report.Analysts said the departure could raise concerns about the pace and continuity of BP's turnaround efforts, Bloomberg added.BP didn't immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP

Sectors116d ago

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.9%, and Exxon fell 3.1%.BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 3.9%.Oklo (OKLO) shares jumped 4.5% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.1% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.3%.

$BKR$BP$OKLO$OXY$PBR$XOM

Wire116d ago

Sector Update: Energy Stocks Fall Tuesday Afternoon

Energy stocks declined Tuesday afternoon with the NYSE Energy Sector Index falling 1.6% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2%.The Philadelphia Oil Service Sector Index shed 0.6%, and the Dow Jones US Utilities Index rose 0.5%.West Texas Intermediate crude oil fell 2.7% to $93.97 a barrel, and global benchmark Brent rose 3.7% to $99.69 a barrel. Henry Hub natural gas futures advanced 0.7% to $2.93 per 1 million BTU.In corporate news, BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 4.4%.Oklo (OKLO) shares jumped 7.1% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.4% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.1%.

$BKR$BP$OKLO$PBR

Sectors116d ago

Sector Update: Energy

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Wire116d ago

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.73% to 1,891.94 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and telecommunications company Nokia (NOK), which rose 6.4% and 4.8% respectively. They were followed by lenders Banco Bilbao Vizcaya Argentaria (BBVA) and Banco Santander (SAN), which were up 4.4% and 3.8% respectively.The decliners from continental Europe were led by pharmaceutical company Ascendis Pharma (ASND) and petroleum refiner Equinor (EQNR), which fell 3% and 2% respectively. They were followed by internet advertising firm Criteo (CRTO) and pharmaceutical company Novo Nordisk (NVO), which were down 1.1% and 0.2% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and pharmaceutical company Silence Therapeutics (SLN), which climbed 16% and 6.3% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which advanced 4.5% and 3.1% respectively.The decliners from the UK and Ireland were led by oil and gas company BP (BP) and biopharmaceutical company NuCana (NCNA), which dropped 5% and 2.4% respectively. They were followed by biopharmaceutical company Amarin (AMRN) and communications company WPP (WPP), which lost 1.6% and 1.5% respectively.

$AMRN$ASND$BBVA$BDRX$BP$CRTO$EQNR$MREO$NCNA$NOK$NVO$SAN$SLN$TRIB$TRVG$WPP

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