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Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

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Share Price: 489.30
Bid: 489.05
Ask: 489.10
Change: -7.65 (-1.54%)
Spread: 0.05 (0.01%)
Open: 491.70
High: 492.90
Low: 485.55
Prev. Close: 496.95
BP. Live PriceLast checked at -

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UPDATE 1-Tullow to begin oil sector job purge as weak prices bite

Tue, 13th Jan 2015 14:31

(Adds wider sector cuts, background, analyst comment)

By Karolin Schaps

LONDON, Jan 13 (Reuters) - Oil producer Tullow Oil is planning to cut some of its 2,000-strong workforce, a sourcefamiliar with the company said, starting an expected avalancheof job losses in the sector as companies struggle to cope withthe slump in oil prices.

Oil companies across the globe have been hit by a 60 percentdrop in crude prices in seven months, putting them underpressure to find new areas of their businesses where costs canbe trimmed.

"Tullow will be a smaller company," the source said, butgave no indication on the number of jobs likely to be cut.

London-listed Tullow Oil employs more than 2,000 peopleacross 22 countries, with its African operations accounting forhalf the total workforce.

The company has already cut its capital expenditure plansfor this year to $300 million, down from $1 billion invested inthe first half of 2014 alone.

It has also placed some of its smaller African offshoredrilling projects under review in an attempt to rein inexploration costs.

Ratings agency Moody's said it expected staff reductions atintegrated oil companies this year as part of their efforts torein in costs.

Analysts at Barclays predicted that oil majors' capitalexpenditure will fall by an average of 7 percent in 2015, with asharper focus on operating expenses, which include salaries.

British oil major BP has already announced a $1billion restructuring programme that will involve thousands ofjob cuts. Rival Shell, meanwhile, has said that it willcut 5-10 percent of workers at its Albian Sands mining projectin Canada. (Additional reporting by Dmitry Zhdannikov and Ron Bousso;Editing by David Goodman)

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11 Feb 2024 09:27

PRESS: BP to book USD700 million windfall on UK tax changes - FT

(Alliance News) - BP PLC is set to book a USD700 million windfall due to UK tax changes aimed at boosting corporate pension fund investment in the economy, the Financial Times reported on Saturday.

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9 Feb 2024 11:44

LONDON MARKET MIDDAY: European markets quiet heading into afternoon

(Alliance News) - European stock markets were quiet heading into Friday afternoon, as investors eye the annual US consumer price index benchmarks revisions.

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8 Feb 2024 16:06

UK dividends calendar - next 7 days

Friday 9 February 
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Monday 12 February 
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Thursday 15 February 
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6 Feb 2024 17:39

London close: Stocks manage gains as oil prices rise

(Sharecast News) - London's financial markets finished with a positive performance on Tuesday, driven by encouraging data from the UK construction sector and BP's share buyback expansion.

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6 Feb 2024 17:04

LONDON MARKET CLOSE: BP and Prudential help snap FTSE losing streak

(Alliance News) - Stock prices in London pushed higher on Tuesday, with the FTSE 100 registering its first rise in four trading days, with oil major BP the star performer.

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6 Feb 2024 12:10

LONDON MARKET MIDDAY: BP tops FTSE 100 index on buyback promise

(Alliance News) - The FTSE 100 was higher at midday Tuesday, despite lingering unease in equity markets on US interest rate worries, while BP led the way among London's large-caps as it announced a buyback plan.

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6 Feb 2024 09:04

TOP NEWS: BP promises buybacks and hikes dividend despite profit fall

(Alliance News) - BP PLC on Tuesday reaffirmed it is sticking to its commitment to share buybacks despite reporting a profit decline amid a fall in oil prices.

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6 Feb 2024 08:53

LONDON MARKET OPEN: BP jumps after unveiling share buyback

(Alliance News) - The FTSE 100 in London opened higher on Tuesday, with oil major BP at the top of the index, thanks to its new share buyback programme.

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6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

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6 Feb 2024 07:02

BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

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2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

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2 Feb 2024 13:14

BP appoints Kate Thomson as its permanent finance chief

(Sharecast News) - BP announced the appointment of Kate Thomson as its new, permanent chief financial officer on Friday, effective immediately.

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2 Feb 2024 12:27

TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

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2 Feb 2024 12:09

LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

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2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

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