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British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late on Friday.
BP (BP) closed at $42.67 in the latest trading session, marking a +1.21% move from the prior day.
The U.S. United SteelWorkers (USW) union members voted on Thursday to overwhelmingly reject what energy giant BP called its "last, best, and final" contract proposal to those working at its Whiting refinery in Indiana.
A sale of drilling rights in the Gulf of Mexico on Wednesday ended with $46.98 million in high bids from oil and gas companies, with a single bid from BP accounting for nearly half of the total, according to a livestreamed U.S. government auction.
Climate shareholder activist group Follow This said it would fight BP's decision not to include its climate resolution in its annual general shareholder meeting invitation.
Oil price close to $100 as Middle East tensions disrupt Strait of Hormuz flows, tightening supply and boosting prospects for upstream giants.
Stock News Oil tops $100 as supply risks mount: Brent surged intraday to $119 and WTI neared $119 amid a near-halt through the Strait of Hormuz and strikes on e
The FTSE 100 Index tumbled for the third consecutive day, reaching its lowest level since January 20. It retreated by over 7% from its highest point this year and is nearing its correction zone by falling by 10% from the year-to-date high.
Oil companies were the only shares in green on Monday as oil prices were catapulted higher by the ongoing war in the Middle East. Brent crude oil surged at the start of the new week, jumping to $107 per barrel, having risen from $84 to $92 last week.
Crude oil prices surged 35% amid attacks on Gulf energy infrastructure and the near shutdown of tanker traffic through the Strait of Hormuz.
BP is seeking an award of at least $3.7 billion from its arbitration win against Venture Global in a case concerning liquefied natural gas cargoes, according to Venture Global's annual report released earlier this week.
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Investors have been critical of BP's increased expenditure on oil-and-gas assets, arguing historical investments—including in areas outside renewables—have contributed to its underperformance.
BP Chairman Albert Manifold on Friday announced plans for a slimmer board as part of the British oil major's reset strategy, with former Shell chief financial officer Simon Henry among those departing.
Foreign staff were evacuated from Iraq's giant Rumaila oilfield, run by British energy major BP , after two unidentified drones landed inside the field on Thursday, three Iraqi oil industry sources told Reuters.
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Summary: With rising geopolitical tensions and their potential impact on global oil markets, many are wondering how conflicts like that between the U.S.
Shell PLC and BP PLC shares were among the biggest risers on the FTSE 100 on Monday as oil and gas prices spiked after the US and Israel carried out military strikes on Iran, sparking retaliatory rocket and drone attacks against other sites in the region. Brent crude oil futures jumped almost 8.8% to $79.25 a barrel, the highest since the start of last year.
Energy stocks have been strong over the last six months because the sector is benefiting from a powerful mix of tightening global supply, disciplined capital spending, and surprisingly resilient demand.
BP Plc (BP) is pressing harder into US shale at a moment when several peers are easing off the throttle, a divergence that could carry strategic weight for inve