BP is considering buying the remaining 50% stake in Lightsource BP , its #solar power joint venture, as part of the British giant's drive to build up its renewable energy capacity, three industry and company sources said. #OOTT

@NasrallaShadia BP's head of renewables tells @Reuters she is reviewing its onshore wind and solar business. BP is also seeking to renegotiate the terms of its giant US offshore wind joint venture with Equinor to give it more control and say. #OOTT

BP's renewables strategy has evolved over the past year. While the focus has been on the changes to its oil and gas production, BP's now mainly wants to use wind and solar power to produce #hydrogen and biofuels. With @NasrallaShadia #OOTT

It’s an end of an era - BP ends 70 years of publishing the Statistical Review of World Energy, passing the benchmark report to the hands of the Energy Institute ⁦@EnergyInstitute⁩ #oott ⁦@BP_plc⁩

Shell's new CEO Wael Sawan is continuing his management overhaul with the creation of a new role of chief of staff who will oversee efforts to improve the company's performance after technical problems and other disruption, sources tell @Reuters #OOTT

BP to buy TravelCenters of America for $1.3 billion - at a steep 74% premium to its share price. Another step in BP’s growth in electric vehicle charging and a move into the customer space. #oott #oott

BP slowed down its retreat from oil and gas, but it isn't taking its foot off the acceleration of renewables - it is looking for 100 new hires in offshore wind and will double the size of its team to 800 in 2 years, the unit's boss told @Reuters #OOTT

Climate-focused investors in BP voiced concern this week about the company's announcement that it has scaled back climate targets and now plans to produce more oil and gas for longer. #OOTT @NasrallaShadia @JessopReuters

BP capitulates and its shares continue to soar - this time to a 3.5 year high. Boosting dividend and oil production is clearly what investors want from the oil major, less so on the energy transition. @NasrallaShadia #OOTT

In almost every way you look at 2022, it was an unprecedented year for oil majors - from the huge writedowns in #Russia through to record profits and shareholder returns. Of course, consumers had a very different experience. Read more here: #OOTT

More record profits for oil majors - this time TotalEnergies and Equinor @ReutersNerijusA @america_hdz #OOTT

BP capitulates on oil and gas production cut plans and its shares have their best day since Nov. 2020. #OOTT

BP strategy is still caught between two stools by ⁦@gfhay⁩ #oott

This is an important change from BP, which is is slowing down targets to reduce oil and gas output by 2030 as well as (logically, one would say), scaling back plans to reduce #carbon emissions from fuels sold (Scope 3) #OOTT

BP increased its oil price forecast/assumption for this decade to $70 a barrel in 2030 (compared with previous $60), explaining in part its decision to invest more in oil and gas #OOTT

@Reuters @NasrallaShadia BP also updated its strategy: - More spending on oil and gas - More spending on renewables - BP scaled back its plans to reduce oil and gas output - it now wants to reduce it by 25% by 2030 vs 2019 levels, compared with previous 40% - Big focus on bioenergy, hydrogen #OOTT

BP posted a record profit of $28 bln in 2022. It also boosted its dividend by 10% and increased buybacks in a sign of confidence. "The company is running really well and our strategy is working," CEO Looney told @Reuters #OOTT @NasrallaShadia

Bnechmark European #diesel refining margins go below $30/bbl, their lowest since early Aug. 2022, as concerns over supply shortages ahead of a Feb. 5 EU ban on Russian fuel imports ease. #OOTT