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BP to resume share buybacks as profit soars on strong oil and gas trading

BP to resume share buybacks as profit soars on strong oil and gas trading
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

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BP to resume share buybacks as profit soars on strong oil, gas trading


BP to resume share buybacks as profit soars on strong oil, gas trading
By Ron Bousso and Shadia Nasralla
Reuters
LONDON (Reuters) - BP s profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.
The jump in profits from a year earlier comes as BP says it expects oil demand to recover in 2021 due to strong growth in the United States and China as COVID-19 vaccination programmes accelerate.
In a sign of growing confidence in the economic recovery and its operations following a year of cutting costs, headcount and its dividend, BP said it will buy back $500 million of shares in the second quarter to offset dilution from an employee share distribution programme. ....

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CERAWeek 2021 kicks off online highlighting low carbon emissions - World News


2021-03-01 22:06:34 GMT2021-03-02 06:06:34(Beijing Time) Xinhua English
HOUSTON, March 1 (Xinhua) The annual energy conference CERAWeek kicked off on Monday with industrial leaders focusing on low carbon emissions and cooperation.
With the theme, The New Map: Energy, Environment, and Charting the Future, the 39th CERAWeek was held all-virtually for the first time due to the COVID-19 pandemic.
During a Monday morning discussion, business leaders from BP and Amazon both highlighted their companies net zero plans through cooperation.
According to BP Group Chief Executive Bernard Looney, the company announced the ambition to get BP to net zero by 2050.
We re going to diversify the company and we re going to decarbonize the company over the course of the next decade, said Looney, adding the company aims to have a tenfold increase in low carbon spend and twenty-fold increase in renewable power generation. ....

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