BP reported a sharp rebound in second-quarter earnings, helped by stronger oil and gas prices, improved refining margins and robust cash generation, as new Chief Executive Officer Meg O'Neill outlined an ambitious strategy to improve performance and restore shareholder confidence.
bp has completed the sale of Gelsenkirchen refinery and related businesses to Klesch Group. The transaction supports bp’s continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion.
bp has launched a process to market its North Sea business for a potential sale as part of its ongoing portfolio review, aiming to simplify operations, strengthen its business and support disciplined capital allocation.
bp has agreed to sell its non-operated interest in the Bay du Nord project offshore Newfoundland and Labrador, Canada, to Equinor. The transaction is consistent with bp’s continued focus on portfolio simplification and disciplined capital allocation.
bp has started up its Atlantis Major Facility Expansion project in the US Gulf of America, adding two subsea water injection wells to boost reservoir pressure, unlock additional production and extend the life of the offshore asset.
bp and Türkiye Petrolleri Anonim Ortaklığı (TPAO) have agreed terms for TPAO to acquire a 15 per cent interest in BP Energy Company of Kirkuk (BP ECKL), strengthening cooperation on the redevelopment of major oil and gas fields in Iraq’s Kirkuk region.
BP is in advanced talks to sell its solar business, Lightsource, to a consortium backed by Kuwait Investment Authority, and Qualitas Energy, a private equity firm focused on green energy, as the energy major sharpens its focus on oil and gas to bolster returns, said a report.
bp has reached an agreement to sell its mobility, convenience and electric vehicle (EV) charging businesses in Austria to volenergy. The deal includes 250 bp branded retail sites, of which around 115 are company owned and franchise operated, as well as electric vehicle charging infrastructure and the associated fleet business.
bp and ConocoPhillips have agreed terms for ConocoPhillips to acquire a 42 per cent interest in BP Energy Company of Kirkuk Limited (BP ECKL), supporting the redevelopment of several large-scale oil fields in the Kirkuk area of northern Iraq.
bp has agreed to sell bp Ventures’ minority stakes in more than 10 energy technology companies to Verdane, subject to approvals. The deal supports portfolio simplification and disciplined capital allocation, with completion expected by the second quarter of 2027.
