British Petroleum News

Government has formally granted a licence to BP Plc, Europe's third-biggest oil company, to set up 3,500 petrol pumps in India, making it the 10th company to enter the lucrative fuel retailing sector.

BP Plc, Europe's third-biggest oil company, has received government approval to set up petrol pumps to retail petrol and diesel in India.

Only 40.89 percent voted in favour of the deal in a non-binding vote which highlighted shareholder discontent at BP`s annual general meeting in London.

After the oil ministry's tough talk, BP of the UK has signalled its desire to end arbitration seeking higher prices for natural gas from eastern offshore KG-D6 block that it co-owns with Reliance Industries.

British energy giant BP Tuesday said that it slumped into a vast loss in 2015, ravaged by the dramatic collapse in oil prices.

BP Plc, Europe's second-largest oil company, Friday made a case for extending the marketing and pricing freedom given to operators of marginal and small oil and gas fields to conventional fields like KG basin D6 block.

The British government has warned oil giant BP that it would oppose a foreign takeover of the company weakened in recent years by the Gulf of Mexico oil spill, media reports said Monday.

Egypt had signed investment deals worth billions of dollars by Saturday, the second day of a three-day conference aimed at reviving the country`s troubled economy.

British energy giant BP said Friday it would invest $12 billion (11 billion euros) in gas fields in Egypt together with Russian-owned partner DEA, calling it a "vote of confidence" in the country.

Energy giant BP said it was shedding 200 staff jobs and 100 contractors in its North Sea operations on Thursday following a sharp drop in oil prices.

A US judge has decided that BP Plc was “grossly negligent” and “reckless” in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly USD18 billion in fines to more than USD42 billion in charges the company took for the worst offshore environmental disaster in US history.

BP, Europe's second-biggest oil company, Tuesday started a recruitment campaign to select leaders for its refining and marketing business as also for IT services.

Weeks after Britain's BP and its partner Reliance Industries slapped an arbitration notice for delay in gas price hike, UK's Energy Secretary Edward Davey today met Oil Minister Dharmendra Pradhan to discuss outstanding issues.

With delays in regulatory nod and gas price revision frustrating its attempts to reverse falling gas output from KG-D6 field, BP chief executive Bob Dudley met Petroleum Minister Dharmendra Pradhan to press for early decisions.