ADNOC to become first energy company to deploy OpenAI’s Frontier technology In this week’s Fortune Gulf Brief. Fortune · Nov 4
BP secures £4.4 billion cash injection after selling majority stake in lubricant business Castrol The oil giant has said it will use the funds to lower its £10.2 billion worth of debt The Independent UK · Nov 2
BP nets £4.4bn boost for balance sheet after Castrol deal completes The oil group said it would use the net proceeds to bolster pay down debts. Evening Standard · Nov 2
BP reports 'obscene' profits as households struggle with high energy costs BP has revealed profits nearly quadrupled in the third quarter as it became the latest oil giant criticised for raking in “obscene” profits on soaring crude prices caused by the Iran war. The National (Scotland) · Oct 30
BP profit quadruples as Iran war sends refining margins soaring and debt tumbles BP's net profit quadrupled between July and September as the Iran war sent refining margins and oil prices soaring, with the British energy giant beating forecasts and cutting its net debt by $8.4 billion (€7.5bn) ahead of a strategy update in December. Euronews · Oct 30
BP profits hit ‘obscene’ 18-year high as Iran war drives up oil refining margins Oil giant comes under fire from climate campaigners, as its earnings reach $8.46bn while ‘innocent civilians suffer’ The Guardian - UK · Oct 30
‘From liabilities to goldmines’: refineries eye record profits from diesel shortage Firms turning crude oil into the ‘workhorse’ fuel stand to gain most despite economic fallout from record prices The Guardian - UK · Oct 14
BP to outline strategy update in December as it reveals steep drop in debts The FTSE 100 firm has seen net debt already reduce to its 2027 target after a sharp drop in the third quarter amid a boost to earnings. Evening Standard · Oct 13