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The Latest Breaking News from British Petroleum

Why the EU May Find it Tough to Squeeze Out Russian Oil

The European Union has proposed a phased embargo of Russian oil but may find it tricky to implement, given Europe's complex distribution network and challenges in tracking crude once it is blended or refined. The plan, if agreed by member states, would take effect in six months for crude, and…

Asharq Al-Awsat

Wells Fargo Maintains Underweight Rating for BP: Here's What You Need To Know

Wells Fargo has decided to maintain its Underweight rating of BP (NYSE:BP) and raise its price target from $29.00 to $31.00. Shares of BP are trading up 0.16% over the last 24 hours, at $31.23 per share. A move to $31.00 would account for a 0.74% decline from the current…

Benzinga

Green demands for Avon Pension Fund to stop investing in fossil fuels sparks row

But the meeting heard it is not a "not a binary issue"

Bristol Post

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'Patronising' Tory minister tells struggling families to shop for 'value' deals

A TORY minister tasked with rebutting accusations that his government is out of touch has been branded “patronising and insulting” after…

The National (Scotland)

BP celebrates record profits - despite UK pensioner riding bus all day to stay warm

BP's underlying profits rose to $6.2 billion for the first quarter of this year

Bristol Post

Whopping petrol price differences between Hunter suburbs

The NRMA is urging motorists to shop around before filling their tanks as whopping petrol price differences - as much as 30c/l - have been seen from one suburb to the next in Newcastle this week.

Newcastle Herald

Energy firms investigated over 'rip off' increases to customers' direct debit payments

Claims customers are paying more than they should do to ease firms cash flow problems

Wales Online

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Minister tells struggling families to use ‘value brands’ – but insists oil and gas firms pay enough tax

Environment secretary passes on advice to help people ‘manage household budget’

The Independent UK

'We are cutting out all non-essentials - life costs too much for a family of seven'

Jen Derrick believes the government should be on the side of the people, not big business. She says BP's £4.9bn profits show the divide between rich and poor is increasing

Daily Mirror

Wednesday briefing: Would a windfall tax on BP’s soaring profits work?

In today’s newsletter: Nimo Omer breaks down BP’s enormous profits, and why some are calling for a windfall tax amid a cost of living crisis nationwide

The Guardian - UK

BP boss Bernard Looney takes home £4.5m as soaring gas and oil prices turn company into 'cash machine'

The chief executive, who grew up on a dairy farm in County Kerry in Ireland and was the first in his family to go to University, insists he understands how many households were “really, really struggling”.

Daily Record

The Tories do not deserve a cross in any ballot paper box as poverty plagues the nation

Record View says the Conservatives, who had already given us a decade of austerity, are ready to double down on poverty in post-pandemic Britain.

Daily Record

What the papers say – May 4

Concerns for abortion access in the US stemming from a leaked Supreme Court report are among today’s front page stories.

The Independent UK

BP raking in £639 a SECOND and Boris Johnson mutters more rubbish about buses

Oil giant BP is celebrating its £5billion profit - its biggest quarterly boost for more than a decade. Meanwhile, Brits are struggling with the cost of living crisis but Boris Johnson is not helping

Daily Mirror

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The Guardian - UK

Windfall tax wouldn’t stop BP’s £18bn parade of projects

Neither would it make the energy crisis go away, but after a while it becomes hard to resist

Benzinga

41 Stocks Moving In Tuesday's Mid-Day Session

Gainers SoundHound AI, Inc. (NASDAQ: SOUN) shares jumped 47.4% to $16.13. The company recently completed a SPAC merger deal last week and began trading on Thursday.

Daily Mirror

Boris Johnson again rejects windfall tax on energy giants despite BP's soaring profits

Downing Street has denied there is a rift between Prime Minister Boris Johnson and Chancellor Rishi Sunak over tax oil and gas giants

Benzinga

BP Shares Move Higher On Bumper Q1 Profits Of $6.2B, Announces $2.5B Share Buyback

BP plc’s (NYSE:BP) profits more than doubled to $6.2 billion in Q1, helped by soaring oil and gas prices, despite posting a massive loss after offloading its nearly 20% stake in a Russian-controlled oil company Rosneft (OTC: RNFTF). The company reported Q1 adjusted EPS of $1.92, more than double from $0.78 posted a year ago…

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Benzinga

Recap: BP Q1 Earnings

BP (NYSE:BP) reported its Q1 earnings results on Tuesday, May 3, 2022 at 03:00 AM. Here's what investors need to know about the announcement. Earnings BP beat estimated earnings by 44.36%, reporting an EPS of $1.92 versus an estimate of $1.33.

Benzinga

Why BP Shares Are Rising Today

BP P.L.C. (NYSE: BP) shares are trading higher Tuesday morning after the company reported better-than-expected earnings results.

The Independent UK

Strong BP profit renews call for energy sector windfall tax

BP posted its highest quarterly profit in more than a decade thanks to surging oil and gas prices

The National (Scotland)

BP profits skyrocket amid demands for windfall tax to tackle cost of living

BP has notched up its highest quarterly underlying profits for more than a decade thanks to rocketing oil and gas prices as calls grow for a…

Evening Standard

Boris Johnson sounds alert over mortgage payment hikes as cost of living crisis grows

Millions of families have been warned that their mortgages could rise even further if Britain is hit by an inflationary spiral.

Insider UK

Windfall tax calls intensify as BP reports highest profit in a decade

In a bid to steer off criticism, the oil and gas giant stated it would be paying around £1bn in taxes this year

Evening Standard

BP promises to ‘back Britain’ with £18 billion as profits hit highest since 2008

The oil giant made an underlying profit of $6.2 billion in the first three months of the year, far higher than the City was expecting

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