BP Plc said Tuesday its gas trading unit had an exceptional first quarter.
(Bloomberg) Two months on from the winter freeze that paralyzed Texas and sent electricity and gas prices soaring, another big winner has emerged.
BP Plc said Tuesday its gas trading unit had an “exceptional” first quarter, helping to drive profit well above pre-pandemic levels. While executives didn’t spell it out, all signs point to large gains from the frigid weather in Texas.
“It was a very exceptional quarter in gas trading,” Chief Executive Officer Bernard Looney said in an interview. “We were well-positioned for colder-than-normal weather in the U.S.,” as well as in Asia.
BP (NYSE: BP) and Rosneft Oil Company have signed a strategic collaboration agreement focused on supporting the carbon management and sustainability activities of both companies.
BP (NYSE: BP) and Rosneft Oil Company have signed a strategic collaboration agreement focused on supporting the carbon management and sustainability activities of both companies.
As part of the deal, the companies have agreed to cooperate in identifying and developing new low carbon solutions and programs that will support their shared sustainability goals, BP outlined. The companies also intend to join efforts in aligning with developing industry methodologies and standards on carbon management, including methane reduction initiatives and energy efficiency applications, BP noted.
Rosneft, BP Enter into Carbon Management and Sustainability Agreement
Green Strategies Rosneft, BP Enter into Carbon Management and Sustainability Agreement
05.02.2021Editor: Ahlam Rais
Rosneft and BP have signed a strategic collaboration agreement to support carbon management and sustainability activities of both firms. The companies will also work together to identify and develop new low carbon solutions to achieve their shared sustainability goals. Related Companies (Source: Deposit Photos)
Moscow/Russia – Rosneft Oil Company and BP have recently signed a Strategic Collaboration Agreement focused on supporting carbon management and sustainability activities of both companies. The agreement builds on years of partnership between the two companies and formalises key elements of their collaboration on sustainability and work to identify carbon reduction activities and lo
ROSNEFT OIL COMPANY (ROSN)
04-Feb-2021 / 12:38 MSK
The issuer is solely responsible for the content of this announcement.
Rosneft and BP Agree to Cooperate on Carbon Management and Sustainability
Rosneft Oil Company and BP have signed a Strategic Collaboration Agreement focused on supporting carbon management and sustainability activities of both companies. The agreement builds on years of partnership between the two companies and formalises key elements of their collaboration on sustainability and work to identify carbon reduction activities and low carbon opportunities.
Based on their longstanding partnership and taking into account the profound changes shaping the global energy transition to deliver more energy with less carbon, Rosneft and BP have agreed to cooperate in identifying and developing new low carbon solutions and programs that will support their shared sustainability goals. The companies also intend to join efforts in aligning with developing industry methodologi
BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year s historic slump.
(Bloomberg) BP Plc offered more evidence that Big Oil has barely begun to heal the wounds from last year’s historic slump.
The Western world’s largest energy producers were supposed to be sailing into the fourth-quarter earnings season with a tailwind from stronger commodity prices, but BP’s miss and Chevron Corp.’s surprise loss show the enduring impact of the Covid-19 pandemic. Earnings fell short of expectations mainly due to weak fuel sales and refining margins.
BP eked out a modest profit, but it was just a fraction of typical pre-pandemic levels. Cash flow, which failed to cover dividends and capital expenditure despite deep cuts to both, raised more fundamental questions about the company’s ability to sustain investor returns. Shares fell 4%.