BP is already working on a plan announced in February to cut costs by up to five billion dollars (£3.8 billion) by the end of 2027. It has also said it will offload 20 billion dollars (£15.1 billion) of assets by the end of 2027.
BP reported a rise in profits to $2.35bn (£1.77bn) between April and June, a drop of 15% on the same period a year earlier when the company benefited from higher oil and gas prices.
BP will cut over 6000 jobs this year as part of a new review of its business and cost base, as the UK supermajor remains under pressure from investors to turn around profitability and reinvigorate the investment case.
BP is set to axe another 1,500 jobs and 1,200 contractor roles across its workforce by the end of 2025, bringing total expected redundancies to 6,200 as it ramps up its use of AI.
Summary. Downgrading BP to Hold as energy markets are well-supplied, oil prices are likely to trend lower, and refining margins remain weak. BP's earnings and revenue growth have stalled since 2023, and the company is no longer undervalued at current forward earnings multiples.
4. Upon appointment in 2024, the CEO's and CFO's salaries were set at £1.45 million and £0.8 million respectively. Their salaries remained unchanged in respect of 2024. For 2025, Murray's salary will increase by 4% in line with the wider workforce.
In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer.
Rule 2.8 aims to prevent market manipulation and to ensure that mergers and acquisitions (M&A) initiators do not mislead markets. The triggering of rule 2.8 through Shell's public announcement means Shell will be restricted from acquiring shares in BP for six months.
This list identifies the top global earners, with Elon Musk leading at $23.5 billion. Other high-earning CEOs include Tim Cook (Apple), Sundar Pichai (Alphabet), Jensen Huang (Nvidia), and Reed Hastings (Netflix), highlighting their significant impact on industries and economies.
LONDON, April 29 (Reuters) - BP's (BP. L) , opens new tab strategy and sustainability chief Giulia Chierchia, the key architect of the group's ill-fated foray into renewables, will step down on June 1, the company said on Tuesday.
The energy giant has been weakened by years of mishaps and poor decisions, leading to rumors of a takeover that may not subside. For months, speculation has been building that the London energy giant BP could be acquired by a competitor.
What is the average household debt in the UK? As of April 2024, the average total household debt in the UK, including mortgages, stood at £65,143, with an average annual interest of £2,710. When broken down per adult, this amounts to £34,487—approximately 97.0% of the average wages.
If you're carrying a significant balance, like $20,000 in credit card debt, a rate like that could have even more of a detrimental impact on your finances. The longer the balance goes unpaid, the more the interest charges compound, turning what could have been a manageable debt into a hefty financial burden.
Grassroots movements to boycott BP are gaining traction. June 2, 2010— -- Boycotts of BP filling stations are popping up all over the country amid the growing frustration over the company's failed efforts to stop a massive oil leak in the Gulf of Mexico.
Causes include dehydration, long-term bed rest, pregnancy, certain medical conditions and some medicines. This type of low blood pressure is common in older adults.
The average bp salary ranges from approximately £24,849 per year for Apprentice to £113,219 per year for Lead Architect. Average bp hourly pay ranges from approximately £13.11 per hour for Customer Service Representative to £14.78 per hour for Intern. Salary estimated from 676 past and present job postings on Indeed.
BP will now cut about 6,200 jobs by the end of 2026 as part of its ongoing restructuring, the company said in its second-quarter earnings call yesterday. The majority of these exits are anticipated in fourth-quarter 2025, setting the stage for “material incremental savings” beginning in first-quarter 2026, bp said.
The average bp salary ranges from approximately £22,451 per year for Deputy Manager to £116,100 per year for Director of Information Technology. Salary estimated from 864 past and present job postings on Indeed.
Total debt on the balance sheet as of March 2025 : £52.81 Billion. According to BP's latest financial reports the company's total debt is £52.81 Billion. A company's total debt is the sum of all current and non-current debts.
Is BP going to lay off 4,700 employees globally to reduce costs?
BP has announced it is cutting 4,700 jobs from its global workforce. The energy giant also said it will cut 3,000 contractor roles as part of a cost-saving drive across the company. It comes as last year, BP launched a plan to reduce its costs by at least $2bn (£1.6bn) by the end of 2026 - with the cuts a part of that.
The average Vice President base salary at bp is £140K per year. The average additional pay is £64K per year, which could include cash bonus, stock, commission, profit sharing or tips.
