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Elliott Investment Management has built a more than $2.5 billion stake in oil refiner Phillips 66, and plans to push the company to sell or spin off its midstream business, Bloomberg reports.

LONDON — U.K.-based oil company BP is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive.

BP Plc anticipates strong growth in the U.S. as President-elect Donald Trump improves regulations on the oil and gas industry just as artificial intelligence boosts energy demand.

Apollo Global Management agreed to pay BP Plc $1 billion for a stake in a key Caspian-region natural gas pipeline.

LONDON — Oil giant BP said it will reward shareholders to the tune of $7 billion this year through the purchase of its own stock, even as it reported a 30% decline in profits in the first half of 2024.

BP Plc’s electric vehicle charging arm is eager to snap up Tesla Inc. supercharging sites across the US — along with the workers behind them — and has pledged $1 billion to expand its network.

WHITING, Ind. — BP’s sprawling oil refinery in northwest Indiana has resumed normal operations more than six weeks after a power outage prompted the energy giant to temporarily shut down.  

LONDON — British oil giant BP said Jan. 17 its interim chief executive, Murray Auchincloss, will be given the job on a permanent basis to replace Bernard Looney.

BP asked U.S. energy regulators to intervene in its fight with Venture Global LNG over liquefied natural gas cargoes, escalating a feud that’s roiled the market for the super-chilled fuel.

BP Plc’s third-quarter profit rebounded from the prior period but fell short of estimates as weak results in gas marketing offset a strong performance in oil trading.