LONDON: BP has announced a major overhaul of its organizational structure. The energy giant is set to simplify its framework to better support the strategic goals it established in February 2024, aimed at increasing the company’s value. The restructuring will see BP maintain its three core businesses: Production & Operations, Gas & Low Carbon Energy,…
Tag: BP
Murray Auchincloss appointed bp chief executive officer
LONDON, UK: bp announced today that the bp board has appointed Murray Auchincloss as bp chief executive officer with immediate effect. Murray, who has been interim CEO since September 2023, will continue as a member of the bp board. BP CEO Bernard Looney quits over lack of transparency on personal relationships His appointment has been made…
BP’s U.S. chief quits amid turmoil at the top
BP (BP.L) announced on Friday that Dave Lawler, its top executive in the United States and head of its shale business, is leaving the company to pursue new career opportunities. Lawler’s departure comes less than three weeks after BP’s chief executive, Bernard Looney, resigned over a scandal involving his personal relationships with colleagues. The United…
Subsea Integration Alliance forms framework agreement with bp for integrated subsea developments
LUXEMBOURG: Subsea 7 S.A. announced that the Subsea Integration Alliance has signed a memorandum of understanding (MoU) aimed at forming a framework agreement with bp for integrated subsea developments. Under the framework agreement, Subsea Integration Alliance would work with bp from concept selection, through the full field life cycle, to deliver enhanced subsea project performance,…
BP CEO Bernard Looney quits over lack of transparency on personal relationships
BP’s chief executive Bernard Looney has stepped down from his role after admitting he failed to disclose all of his past personal relationships with company colleagues. The oil giant said it received anonymous allegations in May 2022 about Mr Looney’s conduct and hired external lawyers to investigate. Mr Looney revealed he had a few historical…
BP invests in start-up to cut green hydrogen costs with vapour technology
BP, the British energy giant, has invested in a start-up company that is developing a novel technology to produce zero-carbon hydrogen from water vapour emitted by heavy industry. The technology, called Symbion, uses heat from existing industrial operations to reduce the electricity consumption and costs of water electrolysis, the process of splitting water into hydrogen…
Equinor selling 50% of Empire Wind and Beacon Wind to BP for $1.1bn
OSLO: Equinor ASA has entered into an agreement with BP to sell 50% non-operated interests in the Empire Wind and Beacon Wind assets on the US east coast for a total consideration before adjustments of USD 1.1 billion, a news release said. Through this transaction, the two companies are also establishing a strategic partnership for…
Premier Oil signs SPAs to acquire BP’s interests in the Andrew Area and its Shearwater assets for $210mn
LONDON: Premier Oil Plc has signed sale and purchase agreements (SPAs) with BP for the acquisition of BP’s interests in the Andrew Area and its Shearwater assets, reflecting the amended terms announced by the company on 5th June. This follows the receipt of creditor approval for the BP Acquisitions. The BP Acquisitions remain conditional on…