Big oil’s timing is always, as ever, impeccable. Just stop and think for a moment. It’s the biggest climate meeting in a decade and you would think that big oil companies would be tripping over themselves to be seen to be green…
However, last week came the news that BP was investing in dirty oil sands […]

Business Week has picked up on a growing conundrum for the oil industry. Even as oil prices soar, earnings at Exxon, BP, and ConocoPhillips are coming back down to earth. Are lower profits here to stay?
Yesterday, ExxonMobil, the world’s largest integrated oil company, reported a 10% drop in profits for the third quarter from a […]

Tony Hayward, BP’s fresh-faced CEO, is preparing staff for a far-reaching shake-up of the oil company as he delivered a blunt warning that third-quarter revenues would be “dreadful”.
Hayward told a staff meeting in Houston he would be announcing a streamlining of the company’s organisation next month. He said that BP’s financial performance was at its […]

The shop around the corner raised the price of sandwiches by a quarter this week. Although the housing meltdown is raising concerns that it may take the whole American economy down with it, prices are going up and the reason is the cost of oil.

In his first appearance as BP’s new chief executive, Tony Hayward, has pledged to oversee a turnaround at the oil giant as the company posted a drop in second-quarter profits.
Hayward told reporters that rather than make optimistic predictions he would “prefer to concentrate on real delivery”. He added that “My message today is simple: BP’s […]