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WASHINGTON, D.C., United States (AFP) – US climate scientists accused four of the world’s largest oil companies Tuesday of lying about the harms linked to their industry and trying to delay the switch to cleaner fuel. American multinationals ExxonMobil and Chevron, as well as Britain’s BP and Shell, are being investigated by the US Congress for their role in spreading misinformation about climate change. Michael Mann, an academic, told the House oversight committee the companies […]
by Benoît PELEGRIN Agence France-Presse LONDON, United Kingdom (AFP) – Oil prices jumped above $80 this week for the first time in almost three years, handing a major boost to producers — but fuelling more inflationary pain for consumers, analysts say. The price of European benchmark Brent North Sea crude for delivery in November hit $80.75 per barrel on Tuesday, attaining the highest level since October 2018, but edged lower on Wednesday. The market has […]
by Julien MIVIELLE Agence France-Presse PARIS, France (AFP) — Already under pressure due to climate change, the world’s top listed oil firms suffered historic losses in 2020 as the Covid-19 pandemic sent demand and prices tumbling. The oil majors — BP, Chevron, ExxonMobil, Shell and Total — suffered $77 billion in losses for the year. Shell CEO Ben van Beurden called 2020 an extraordinary year. Total’s Patrick Pouyanne said: “All of us will remember 2020 […]
LONDON, United Kingdom (AFP) — Britain’s Cambridge University on Thursday pledged to stop investing in fossil fuels by 2030, bowing to pressure from environmentalists including its own students. The world-renowned seat of learning in eastern England said the pledge is part of its overall goal to slash carbon emissions to zero by 2038 — well ahead of the UK government’s 2050 target. The institution will now switch its £3.5-billion ($4.5-billion, 3.8-billion-euro) endowment fund — one […]
by Jean-Baptiste OUBRIER Agence France-Presse LONDON, United Kingdom (AFP) — Global oil demand might have already peaked and will likely not stop falling for the next 30 years, hit by virus fallout and moves towards greener energy, Britain’s BP predicted Monday. At the same time, the oil cartel OPEC has revised its forecast for global demand lower this year and next for essentially the same reasons. London-listed oil giant BP, which is seeking to achieve […]
LONDON, United Kingdom (AFP) — British police arrested nine Greenpeace campaigners on Wednesday who blockaded BP’s London headquarters with solar panels and oil barrels to mark the new boss’s first day at the energy giant. The Metropolitan Police said the arrests were made outside the firm’s building in St James’ Square, central London, as part of a “proportionate policing plan”. They were detained for aggravated trespass, highway obstruction and conspiracy to commit a public nuisance. Around […]
LONDON, United Kingdom (AFP) — Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, Britain’s BP forecast Thursday. “The demand for energy is set to increase significantly driven by increases in prosperity in the developing world,” BP said in its Energy Outlook 2019 for the industry. “This improvement in living standards causes energy demand to increase by […]
LONDON, United Kingdom (AFP) – BP faced another net loss in the second quarter but has now drawn a line under the 2010 Gulf of Mexico oil spill disaster, the British energy giant said Tuesday. The company posted a loss after taxation of $1.4 billion (1.3 billion euros) for the three months to June, which however compared with a far larger loss of $5.8 billion for the second quarter of 2015. BP also booked a net […]
Shell, Exonn and now BP – all have been hurt by low oil prices. The UK giant’s underlying profits in the final quarter were down 20% on a year earlier at $2.2bln. Full year profit was 10% lower at just over $12bln. BP is slashing capital spending by a fifth to $20bln as a result. The oil giant did at least beat fourth quarter expectations thanks to a surprise profit from its Russian partner Rosneft. […]
BP may face additional fines regarding the Horizon oil spill, with a United States judge finding BP’s conduct to be grossly negligent and reckless.
By Dan Levine SAN FRANCISCO Thu Feb 13, 2014 3:41pm EST (Reuters) – A U.S. appeals court on Thursday revived a shareholder lawsuit against BP PLC over statements the company made in the wake of a 2006 oil spill in Alaska. The ruling from the 9th U.S. Circuit Court of Appeals in San Francisco allows shareholders to proceed with some securities fraud claims against BP after a lower judge had dismissed them. Representatives for BP […]
