Tag: BP

Business

BP ousts chairman amid concerns over conduct, oversight

British oil giant BP has ousted Albert Manifold from his position as chairman less than a year after his appointment, citing “serious concerns” over governance standards, oversight, and conduct within the company. The unexpected announcement rattled investors, sending BP shares down by more than 6 per cent in sharp market trading, according to AFP. “The […]

Business

BP to sell 65% stake in Castrol to Stonepeak for $6bn

United Kingdom’s BP has agreed to sell a 65 per cent stake in its Castrol lubricants business to Stonepeak for $6 billion, months after the British oil major began seeking a buyer for the unit. The transaction is part of BP’s broader strategic reset, which includes a reversal of elements of its green strategy and […]

BP- Uk-based oil and gas
Business

Uk-based multinational BP hits $28bn profit in 2022

A UK-based multinational oil and gas company, BP, on Tuesday reported that it made a profit of $28 billion for 2022, following the surge in energy prices since the Russian Ukraine War. This is a high record profit in the same pattern as their competitors, Shell and Chevron reported last week. The chief executive officer […]