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ONGC, Reliance-BP bid for oil, gas blocks, foreign giants continue to stay away

Thirteen bids were made by five companies including ONGC, Vedanta, Oil India, Sun Petrochemicals, a…

PTI   


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Tell us if you've had an intimate relationship with a colleague, or you could get fired, oil giant warns staff

BP has introduced a new company relationships policy following the departure of former CEO Bernard …

Polly Thompson   


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The United Arab Emirates pursued nearly $100 billion worth of oil and gas deals the same year it led the global climate summit, analysis finds

The UAE closed more than a dozen deals to expand its oil and gas footprint at home and overseas, an…

Catherine Boudreau   


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1 min read

BP has purged its European refineries of Russian oil and expects to be rid of most long-term contracts with the Kremlin by year's end

"We're working incredibly hard to eliminate Russian molecules from the system," BP CEO Bernard Loon…

Brian Evans   


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BP stock jumps as the energy giant slows its ambitious pivot to renewables and vows more spending on oil and gas

Shares of BP climbed Tuesday after the company noted a shift from previous renewable energy spendin…

Brian Evans   


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Big Oil is all in on electric cars

Heavyweights of the combustion-car era like Shell, Exxon Mobil, and BP could dominate the electric …

Tim Levin   


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BP falls 8% after cutting ties with Russian oil giant Rosneft, adding to mounting financial woes following the Ukraine invasion

"It has led the BP board to conclude, after a thorough process, that our involvement with Rosneft, …

Matthew Fox   


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Big Oil continues its retreat from Russia as Shell condemns Putin's 'senseless act of military aggression'

Shell will exit its joint ventures with Russian energy firm Gazprom. It will also pull out of the N…

Huileng Tan   


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1 min read

BP dumps 20% stake in Russian oil giant, says its partnership with Rosneft 'simply cannot continue' following attacks on Ukraine

The CEO of BP said Russia's attack on Ukraine caused his company to "fundamentally rethink" its bus…

Hannah Towey   


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BP stands to make 'blood money' from its stake in Kremlin-backed oil giant Rosneft, Zelenskyy aide says

BP said it would sell its near-20% stake in Rosneft in February after Vladimir Putin invaded Ukrain…

Ryan Hogg   


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3 mins read

Expect as much as 2 million barrels a day of Russian crude to vanish from the market in May as sanctions kick in, BP boss says

Existing sanctions will probably eliminate another 1 million barrels a day, BP's CEO has said, as t…

Karen Friar   


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Reliance returns to oil indexation for KG gas, seeks buyers for 4 mmscmd

Reliance Industries Ltd and its partner BO Plc of UK have reverted to oil indexation for pricing th…

PTI   


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BP boss who resigned over undisclosed relationships with colleagues ended his marriage by text message, says ex-wife

Bernard Looney abruptly resigned from BP this week after admitting he failed to disclose relationsh…

Jyoti Mann   


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Energy company Wastefuel expects to be as big as BP in 10 years. Here's how it plans to get there.

The energy company Wastefuel has raised $13 million to do early research on three low-carbon fuels …

Karen K. Ho   


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1 min read

Hero Electric partners with Jio-bp for EV charging and battery swapping solutions

Hero Electric has announced a partnership with Jio-bp to boost two-wheeler charging and battery swa…

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Oil demand may never rebound to pre-pandemic highs as world shifts to renewables, BP says

The industry giant presented three scenarios for oil consumption moving forward, which range from a…

Ben Winck   


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BP lost $5.7 billion in 2020, its first annual loss in 10 years, as oil and gas demand slumped during the pandemic

BP reported a profit of $115 million in the last quarter of 2020, falling short of analysts' estima…

Kate Duffy,Reuters   


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One of the world's biggest energy firms cut its 30-year forecast for oil prices by 27% as coronavirus turns the industry on its head

British Petroleum also slashed its valuation by almost $18 billion as it adjusts to the impact of t…

Saloni Sardana   


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Reliance and BP start production from KG-D6 oil field – off the coast of Kakinada

Reliance Industries and BP have started the production from the R Cluster, ultra-deep-water gas fie…

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7 mins read

This could be Big Oil's last surge

Despite record profits, the oil and gas industry is still headed for a long-term decline, even if i…

Catherine Boudreau,Jacob Zink…