BP

BP reported a significant drop in the costs related to last year’s devastating Gulf of Mexico oil disaster in the first quarter as the UK oil group sought to rebuild its oil and gas exploration operations. Read more

Kiran Stacey

The first BP AGM since the oil spill, and the first one with Bob Dudley at the helm, has come to a close. With the various disputes and controversies surrounding the company at the moment, did Dudley come out of it with his reputation enhanced? And what about the other parties represented? Here is our take. Read more

Kiran Stacey

As we near the end of BP’s AGM, one thing we can report is that Bob Dudley is still standing. Which is more than can be said of several protestors against the development of Canadian oil sands who were carted out, in some cases lifted off their feet, after shouting across Mr Dudley as he tried to defend such developments. Read more

Rosneft’s decision on Wednesday to give BP another month to try to complete their controversial cooperation plan gives everybody involved a breathing space. Read more

Kiran Stacey

Thursday morning sees Bob Dudley’s first AGM as chief executive, and it is not the one he would have planned. Read more

BP’s talks on buying out its Russian billionaire partners in TNK-BP broke down on Wednesday morning on the eve of a deadline to complete a $16bn share swap with Rosneft. Read more

At first glance, Igor Sechin’s abrupt departure as Rosneft chairman appears to bode badly for BP’s last-ditch bid to salvage its alliance with the Russian state controlled company.
But, it could turn out to be a clever tactical move that might yet save the deal.  Read more

FT Energy Source

BP is running out of options. Its plans for a cooperation pact with Russia’s Rosneft was on Friday blocked for a second time by a legal challenge from its Russian partners in its existing Russian joint venture, TNK-BP. Read more

BP failed on Friday to secure legal permission to go ahead with its proposed share deal with Rosneft, the Russian state-controlled oil group, after the Russian partners in its existing Russian venture TNK-BP opposed the plan. Read more