Two top women executives at BP are leaving the company — the first major change to the firm’s management structure since last year’s departure of CEO Bernard Looney, who abruptly quit after it was learned that he failed to disclose relationships he had with colleagues.Leigh-Ann Russell, BP’s chief technology and innovation officer, will depart the company after an 18-year stint while Anja-Isabel Dotzenrath, who has been head of BP’s gas and low-carbon division since 2022, will retire, according to a stateme ...

The year 2024 has faced many headwinds so far – but arguably the most devastating has been the ongoing conflict in the Middle East.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.With far-reaching implications, some of the markets most impacted are global oil prices. The top three UK oil companies to invest in as Middle East tensions riseCopy link to sectionShellHarbour EnergyBP 1. ShellCopy link to sectionSource: TradingViewThe United Kingdom’s large ...

A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom.British oil major BP on Thursday trimmed its executive team down to 10 members and announced William Lin as the new head of the firm's oil and low carbon energy business.Lin replaces Anja-Isabel Dotzenrath, who will be retiring from the position. The company also announced Emeka Emembolu as the new lead of BP's technology functions, taking over from Leigh-Ann Russell, who is due to leave the group ...

It was a week when both oil and natural gas prices recorded losses.The headlines revolved around supermajor Shell (SHEL) and BP’s (BP) Q1 earnings updates. Developments associated with ExxonMobil (XOM) , Petrobras (PBR) and Chevron (CVX) also grabbed attention.Overall, it was a bearish seven-day period for the sector. West Texas Intermediate (WTI) crude futures dropped around 1.4% to close at $85.66 per barrel, while natural gas prices edged down 0.8% to end at $1.77 per million British thermal units (MMBtu ...

BP plc (BP) , a global leader in the energy sector, has announced the commencement of oil production from its latest offshore platform, Azeri Central East (“ACE”), located offshore Azerbaijan. This marks the inauguration of BP's seventh offshore platform at the Azeri-Chirag-Gunashli (“ACG”) field in the Caspian Sea.The ACG field, which kickstarted its production journey in 1997, has been a pillar in Azerbaijan's oil industry, contributing more than 4.3 billion barrels of oil to date. However, the country's ...

British oil giant BP (NYSE:BP) recently announced job cuts in its electric vehicle charging sector, the latest example of BP layoffs. Indeed, the firings are directed toward BP Pulse to redirect company attention toward its most profitable branches amid growing sentiments away from oil and gas-powered energy.What do you need to know about BP’s recent layoffs?Well, BP has cut over 10 percent of its workforce in its electric vehicle (EV) charging branch, according to an internal memo. “Our EV ambitions have n ...

Economies across the world are gradually transitioning to cleaner energy sources. There has been a steady increase in pressure on energy companies to act on climate change on multiple fronts. Most analysts believe that although renewable energy will meet future energy needs, it will not completely wipe out oil and natural gas demand. Demand for fossil fuels will also grow but at a slower pace.The U.S. Energy Information Administration, in its Annual Energy Outlook 2023, revealed that through 2050, renewable ...

BP plc (BP) , a global leader in the energy sector, anticipates robust results from its trading operations in the first quarter of 2024, with a notable uptick in oil transactions. In its latest trading update released on Tuesday, BP emphasized the positive performance of its trading arm, highlighting concurrent increases in oil and gas production and improved margins within its refining division.According to the company's statement, the initial trading figures suggest a favorable outlook for first-quarter e ...

BP plc (BP) , a multinational oil and gas giant, is on the verge of finalizing an agreement to offload a portion of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, per a Reuters report.This strategic move comes amid discussions surrounding BP's declining gas output and its plans for collaborative ventures in the Caribbean.BP stands as the largest natural gas producer in Trinidad, boasting an output of more than 1.3 billion cubic feet per day (bcf/day). The majority of this ou ...

Energy stocks are jumping, helped by the strong performance of crude oil prices. In the UK, the Shell (LON: SHEL) share price surged to a high of 2,737p on Wednesday. BP (LON: BP) surged to 511p while Tullow Oil spiked to 32p, higher than this year’s low of 26.35p.XLE vs QQQ vs SPY Crude oil price is surging Copy link to section Globally, oil and gas stocks have soared to their all-time highs. As I wrote here, the Energy Select Sector SPDR Fund (XLE) has jumped to the highest point on record. It has outperf ...