BP Aktie News

The company is pressing ahead with plans for its largest oil and gas discovery in 25 years after confirming that the site offshore Brazil holds a significant volume of liquids.

BP said on Thursday the carbon dioxide level in its huge Bumerangue oil and gas discovery in Brazil's offshore Santos basin could be managed.

BP said on Friday power had been restored at its 440,000 barrel-per-day oil refinery in Whiting, Indiana, after an external power outage prompted a temporary evacuation at the plant.

BP is refocusing on oil and gas, scaling back green investments, and accelerating asset sales to simplify its portfolio and reduce debt. Despite lower oil prices, BP maintains strong cash flow, supports a 5.85% dividend yield, and continues share buybacks, though at a decreasing pace. Risks include oil price volatility, macroeconomic uncertainty, and execution risk in management's turnaround st...

BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) shares rose 3% and 2% respectively on Thursday after Washington unveiled sweeping new sanctions on Russia's two largest oil companies, Rosneft and Lukoil, boosting crude prices.

JERA Nex BP, a joint venture between Japan's top power generator JERA and BP , plans to halt development of the U.S. Beacon offshore wind power project and lay off its U.S. employees in the coming months, the company said in a statement.

As falling crude prices and rising debt levels place pressure on profits, some analysts are warning that the sector's current rates are unsustainable.

Oil prices fell below $60 per barrel recently due to a combination of oversupply and weak demand.