British multinational oil and gas company; one of the world’s supermajors.
BP has appointed Ian Tyler as chair on a permanent basis following governance concerns after Albert Manifold’s removal. Meg O’Neill remains chief executive, as the company sells non-core assets and reorganizes to focus on core operations. The move signals a strengthened governance posture amid leadership shake-ups at BP.
California lawmakers have advanced a $356 billion budget plan, negotiating with Gov. Gavin Newsom. The package includes taxes on health-care providers and software, plus potential costs to private health plans. Democrats defend the measures as strengthening finances amid federal revenue losses; Republicans warn of higher costs for hospitals, businesses, and families.
A growing class-action suit accuses major gas retailers of using Kalibrate's AI pricing to coordinate higher gas prices across more than 1,700 California stations. The suit cites six-cent average increases, up to 30 cents in dense Kalibrate usage areas, and potential billions in annual driver costs.
Nationwide reports that annual house price growth has picked up to 2.2% in June, while month-on-month prices are flat. Mortgage rates remain elevated but could ease if energy prices stay soft. Buyers are cautious; sellers are pricing carefully amid a slower summer and uncertain outlook.
Democratic Socialists of America-backed candidates have swept primaries in New York City and beyond, signaling a growing movement that now confronts rural areas and state legislatures.
A new analysis shows a 57% rise in accidents involving dangerous chemicals from 2021 to 2025, with injuries and fatalities climbing. More than 650 incidents have occurred since 2020, affecting millions living near facilities, as regulators face pressure to tighten safety rules amid aging infrastructure.
The US and Iran have exchanged fresh strikes this weekend and on Monday, reversing a recent interim ceasefire and re‑opening doubt over control of the Strait of Hormuz. President Donald Trump has declared the ceasefire "over," ordered further strikes and revoked a temporary oil waiver. Oil has jumped into the high $70s–$80s and global markets have fallen.
Growing pressure surrounds North Sea developments as Labour’s Burnham weighs policy changes. Rosebank and Jackdaw face regulatory reviews and environmental scrutiny, while the EPL windfall tax looms over investment. Officials caution against early approvals as consultations wrap up, with debates centring on energy security, jobs, and climate impacts.
Oil prices have risen this week after U.S. officials narrowed a waiver to the Jones Act for energy shipments and data showed U.S. crude stocks have fallen to multi-decade lows. Traders are parsing mixed statements from Washington and Tehran about talks to reopen the Strait of Hormuz while reparations demands have emerged, keeping markets volatile on 11 Aug 2026.
Energy majors have reported bumper profits as Middle East conflict drives oil and gas prices higher. ExxonMobil, Chevron, and Shell show sharp year‑over‑year gains amid volatile supply routes, while traders warn against overreliance on geopolitics for long‑term gains.
BP has announced it is marketing its North Sea business for sale as part of a portfolio simplification. The unit comprises five hubs and about 1,100 staff. The move follows political and policy debates on North Sea drilling and energy funding, with potential proceeds around £2 billion. BP is seeking an owner to back the next chapter of a Slimmed-down BP while focusing on higher-value opportunities.
Six of Europe’s biggest oil groups report profits surging year-on-year as turmoil around the Strait of Hormuz tightens supply and pushes prices higher. U.S. and European majors show windfall gains amid disruptions, even as lawmakers debate windfall taxes and consumer costs rise.
Forecourt Eye reports a 20% rise in fuel thefts and a 48% jump in the value of stolen fuel across 550 UK forecourts in the five months since the February conflict began. Average petrol and diesel prices have reached multi-year highs, with forecourt crime expanding to include abuse and intimidation. Retailers partner with Facewatch to improve reporting.
Oil majors have reported bumper profits for Q2 as volatility from Iran-related tensions sustains high crude prices. Executives say they are boosting reliability and refining where needed while returning cash to shareholders. Trump has criticized profits and urged lower prices at the pump.
The BP windfall is driving renewed calls for a windfall tax as profits soar amid Middle East conflict. Campaigners say households face higher bills while governments weigh potential measures to curb corporate gains and accelerate the transition to cleaner energy.
Oil majors have posted strong quarterly profits amid continued volatility from the Iran-U.S. conflict and the Hormuz Strait. Aramco and European peers report multi-billion results, while policymakers and markets watch for potential windfall taxes and supply routes.
Banks report six-month profits surging across the UK, fueling calls for windfall taxes to fund cost-of-living measures. Campaigners urge government to consider a levy on profits to support households, while bank chiefs caution on lending and growth.
BP has reported a quarterly profit of $5.73bn, more than doubling year-on-year, driven by higher oil prices amid Middle East conflict. The group plans to sell its US renewable natural gas unit Archaea and is considering further asset disposals, including a potential North Sea exit. CEO Meg O’Neill says the company is focusing on assets with the strongest potential to deliver returns.
U.S. stock futures point to gains as Nvidia beats estimates and forecasts strong AI-driven growth; European markets rally on momentum from Nvidia while UK indices turn modestly higher ahead of major earnings and data surprises.
The US has reached an agreement with Venezuela’s interim government to secure majority control of rights to about 65 billion barrels of Venezuelan oil. The deal creates a private joint venture with Venezuelan billionaire Alejandro Betancourt’s firm, gives the US effective majority output and promises nearly $100bn in private investment, though no contract text or financing details have been released.