Deepwater Horizon Tag

BP is on the brink of a new era after long-standing chief executive Bob Dudley announced he would be stepping down from the role, to be replaced by the oil major’s current head of exploration and production Bernard Looney. Since taking the top job in the...

BP announced a return to marginal profits for 2016, a drastic improvement from last year’s numbers. The British oil major reported headline profit of US$115 million compared to the 2015 loss of $6 billion. The earnings impaired by Gulf of Mexico legacy charges of $4.1 billion. It...