Bp Archives - CFO

BP Halves Dividend, Posts $16.8B Loss in Q2

Financial Performance

BP Halves Dividend, Posts $16.8B Loss in Q2

The energy giant was forced to write down the value of exploration assets by $6.5 billion due in part to the decline in oil and gas prices.

By Matthew Heller | August 4, 2020

BP Sells Petrochemicals Business to Ineos for $5B

BP Sells Petrochemicals Business to Ineos for $5B

The energy giant said it met its goal to divest $15 billion a year ahead of schedule.

By Lauren Muskett | June 29, 2020

BP Faces $17.5B Q2 Hit

BP Faces $17.5B Q2 Hit

The oil giant lowered its oil price expectations through 2050 due to the COVID-19 pandemic.

By Lauren Muskett | June 15, 2020

BP to Cut 10,000 Jobs

BP to Cut 10,000 Jobs

The oil giant plans to cut 15% of its workforce by the end of the year.

By Lauren Muskett | June 8, 2020

BP to Sell Alaska Assets to Hilcorp for $5.6B

BP to Sell Alaska Assets to Hilcorp for $5.6B

The deal is part of the U.K. oil giant’s plan to raise $10 billion in the next two years.

By Lauren Muskett | August 28, 2019

BP to Spin off US Pipeline Assets MLP in IPO

BP to Spin off US Pipeline Assets MLP in IPO

The oil giant is following some of its competitors by selling units in a tax-advantaged master limited partnerhip to the public.

By Matthew Heller | September 11, 2017

Shell, BP Profits Beat Estimates in 3rd Quarter

Shell, BP Profits Beat Estimates in 3rd Quarter

The two companies' performance boosts hopes that the industry is adapting to an environment of low oil prices.

By Matthew Heller | November 1, 2016

BP to Lay Off About 4,000 Workers

BP to Lay Off About 4,000 Workers

The industry may have more capacity to cut as some analysts are projecting depressed crude oil prices through 2016.

By Katie Kuehner-Hebert | January 12, 2016

BP Escapes Larger Damages With $18B Settlement

Risk Management

BP Escapes Larger Damages With $18B Settlement

The settlement of Deepwater Horizon claims includes a record $5.5 billion in Clean Water Act penalties — about half of what BP might have faced.

By Matthew Heller | July 7, 2015

Unsustainable Energy

Unsustainable Energy

The price of oil has been tumbling. The cost of finding it has not.

By Economist Staff | October 13, 2014