BP PLC and its billionaire Russian partners in the joint venture TNK-BP have agreed on a deal that forces out its embattled CEO and signals an end to a bitter struggle for control of the Russian-British company, officials said Thursday.
British oil company BP PLC said Tuesday that its U.S. unit plans to buy a 25% stake in Chesapeake Energy Corp.'s Fayetteville Shale assets in Arkansas for $1.9 billion.
British oil company BP PLC said that testing will begin Wednesday on the closed Baku-Tbilisi-Ceyhan oil pipeline, which runs through conflict-stricken Georgia, ahead of a move to restart full operations as early as next week.
Oil prices fell again Tuesday, dampened by a stronger U.S. dollar and more evidence that developed countries such as the United States are cutting back on their energy use.
BP PLC said it shut down an oil pipeline that runs through Georgia on Tuesday as a precautionary measure, but added that it is unaware of any Russian bombings on pipelines in the region.
Oil firms Royal Dutch Shell and BP have made better-than-expected first-quarter profits thanks to the rising price of oil, which is close to $120 a barrel
Shares in BP PLC fell Tuesday after a newspaper reported that the oil company's chief executive had warned staff of poor third-quarter results.
BP Plc posted a 1 percent drop in quarterly post-tax profit to $6.087 billion as production fell and refinery outages prevented the oil giant from taking full advantage of near-record refining margins.
British oil major BP Plc, Associated British Foods Plc and U.S. chemical company DuPont plan to build a new plant to make transport fuel from wheat in Hull, north-east England.
BP Plc said on Friday its Russian joint venture TNK-BP had agreed to sell Gazprom its 62.9 per cent stake in Rusia Petroleum, the company which holds the licence for the Kovykta gas field in East Siberia.
BP PLC and its billionaire Russian partners in the joint venture TNK-BP have agreed on a deal that forces out its embattled CEO and signals an end to a bitter struggle for control of the Russian-British company, officials said Thursday.
British oil company BP PLC said Tuesday that its U.S. unit plans to buy a 25% stake in Chesapeake Energy Corp.'s Fayetteville Shale assets in Arkansas for $1.9 billion.
British oil company BP PLC said that testing will begin Wednesday on the closed Baku-Tbilisi-Ceyhan oil pipeline, which runs through conflict-stricken Georgia, ahead of a move to restart full operations as early as next week.
Oil prices fell again Tuesday, dampened by a stronger U.S. dollar and more evidence that developed countries such as the United States are cutting back on their energy use.
BP PLC said it shut down an oil pipeline that runs through Georgia on Tuesday as a precautionary measure, but added that it is unaware of any Russian bombings on pipelines in the region.
Oil firms Royal Dutch Shell and BP have made better-than-expected first-quarter profits thanks to the rising price of oil, which is close to $120 a barrel
Shares in BP PLC fell Tuesday after a newspaper reported that the oil company's chief executive had warned staff of poor third-quarter results.
BP Plc posted a 1 percent drop in quarterly post-tax profit to $6.087 billion as production fell and refinery outages prevented the oil giant from taking full advantage of near-record refining margins.
British oil major BP Plc, Associated British Foods Plc and U.S. chemical company DuPont plan to build a new plant to make transport fuel from wheat in Hull, north-east England.
BP Plc said on Friday its Russian joint venture TNK-BP had agreed to sell Gazprom its 62.9 per cent stake in Rusia Petroleum, the company which holds the licence for the Kovykta gas field in East Siberia.
John Browne was once said to be one of British Prime Minister Tony Blair's favorite businessmen and held one of the highest-profile positions in British industry.
Oil producer BP PLC said Tuesday it had appointed Tony Hayward as its new chief executive, effective immediately, following the decision by John Browne to resign.
Americans may drink French wines, drive German cars, and wear Italian suits, but when it comes to buying shares, they prefer to stay close to home. Which is too bad for those who want to keep buyin...
Europe's economies may be growing slowly, but its markets are heading for a fourth year of double-digit increases. We found six promising stocks. By Nelson D. Schwartz, Fortune senior writer
Analysts believe gas prices will likely continue their recent upward trend in December, according to a report published Thursday.
"This is where it all started," says BP Prudhoe Bay field manager Kemp Copeland, pointing to a rust-colored steel pipe snaking its way across the bleak Alaska tundra 250 miles north of the Arctic C...
How could BP, a company that has made being green a core part of its identity, even rebranding itself as "Beyond Petroleum," suffer within one year both the worst oil spill in the history of the North Slope and the worst U.S. refinery accident in more than a decade?
Oil giant BP says it has requested permission from the Department of Transportation to restart operations for the eastern part of the BP Prudhoe Bay pipeline in Alaska, the part that was shut down this summer upon the discovery of severe pipeline corrosion.
New BP America president Bob Malone spoke with FORTUNE's Abrahm Lustgarten about Prudhoe Bay and the company's string of problems.
BP's top U.S. executives told lawmakers Thursday that the company stumbled by failing to prevent a major Alaskan pipeline from becoming crippled by corrosion.
Oil prices fell back near $67 a barrel Thursday after oil giant BP said its Prudhoe Bay facility in Alaska could reach full capacity by next month.
In his first interview since early in BP's Prudhoe Bay pipeline crisis, new BP America president and chairman Robert Malone took time out with Fortune's Abrahm Lustgarten to talk about what went wrong in Alaska and whether BP's string of problems mean the world's second largest oil company has widespread operational difficulties in North America.
The western half of Alaska's giant Prudhoe Bay oil field can stay in production while corroded pipes in the eastern half are replaced, BP America announced late Friday -- cutting in half the potential impact on U.S. oil supplies.
BP America may know by this weekend whether it can keep the western half of Alaska's Prudhoe Bay oil field in production while it replaces corroded pipes in the eastern half.
A BP executive, under fire over the Alaska pipeline closure, defended the company's response to a two-year-old memo sent to BP's board detailing widespread corrosion, safety issues and other problems at the company's Prudhoe Bay oil field.
BP's Prudhoe Bay oil field in Alaska could be back up to full production early in 2007, the U.S. government said on Tuesday as global oil prices continued to climb.
In a blow to drivers already struggling with high gasoline prices, BP was forced to shut about 8 percent of the nation's domestic oil production for what seems to be a period of weeks after discovering "unexpectedly severe corrosion" in its pipelines in Alaska.
The Art of Digging for a Lost Pension
What do Gerber, Google, and Eggo have in common? They're all selling familiarity, trust, and quality--those intangible traits summed up by the word "brand." Right now that word is more important th...
Investors in London warmed to Anglo American's restructuring plan on Wednesday, with BP's downturn from its third-quarter results short-lived after a Merrill Lynch upgrade.
BP PLC will pay a fine of $21.3 million to settle government claims of more than 300 safety violations after a March explosion and fire at its huge Texas City, Texas refinery that killed 15 and injured more than 170.
WASHINGTON -(Dow Jones)- Innovene Inc., the petrochemical unit of U.K. oil giant BP PLC (BP), filed an initial public offering Monday to sell up to $1 billion in common stock, according to a Form S-1 filed with the Securities and Exchange Commission.
BP Plc, the world's second-largest oil company by market capitalization, reported surging second-quarter profits thanks to high oil prices, but a massive charge for injuries at its Texas City refinery blast dashed expectations of a record result.
It got a lot harder to join the ranks of the world's largest corporations this year. The cutoff for the list--the revenue needed to be ranked No. 500--rose by a record 15%, to $12.4 billion. That's...
By Anjali Cordeiro and Jessica Resnick-Ault
One more body was found Thursday by searchers combing the ruins of part of a Texas refinery after an explosion at the site Wednesday, refinery officials said.
At least 14 people died and more than 70 others were injured in an explosion that ripped through a BP oil refinery in southeastern Texas on Wednesday, a company spokesman said.
In an industry peopled with Texans who drop their "g's" and seem fresh from the set of Rawhide, BP's John Browne is decidedly different. Lord Browne of Madingley, as he is formally known, is as con...
What are you reading?
BP's Texas City petrochemical plant Betting $75 million on "Project Future" at a sprawling Gulf of Mexico facility triggers a 55% increase in productivity.
Here's a novel advertising strategy--pitch your least important product and ignore your most important one. That's what British Petroleum is doing in a U.S. billboard campaign emphasizing the compa...
Forget the hard times that have befallen tech investors. If you've held energy stocks in your portfolio over the past year, you've done just fine. As the S&P 500 dropped 14.6% and the Nasdaq sank 4...
FINANCIAL INDUSTRY FleetBoston powers up the superregional bank list--but can't topple Wells Fargo. Chicago-based Equity Office Properties leads a new category: real estate.
Where on earth are the next great growth companies? Increasingly, the answer is overseas.
Sir John Browne, chief executive of BP Amoco, was the first oilman to declare, in a speech at Stanford University in May 1997, that global warming may indeed be real. In doing so he clashed with hi...
To complete this list of the world's most admired companies, FORTUNE consulted a select group of experts--senior executives and outside board members of companies in each of the industries included...
After a tough day of performance reviews in London last April, BP Amoco CEO John Browne boarded the Concorde to attend the opening of a retrospective of American art at the Whitney. Ensconced in th...
A cold rain made it easy for the boys of Troop 184 to pretend they were soldiers. In fact they were twoscore American Boy Scouts--sons of ex-pats--on the beaches of Normandy, where, perhaps, a gran...
FINANCIAL INDUSTRY For the first time since our list began in 1983, J.P. Morgan fell out of first place among money center banks.
What does it take to join the elite club of the world's most admired companies? When FORTUNE, with the help of worldwide consulting firm the Hay Group, set out to create the first-ever list of glob...
THIS MONTH: --Take these three drug stocks and wake up richer. --Time is running out for tobacco stocks. --A fast-moving colossus rewards shareholders.
You are the type of person who dives into the business section of the paper every morning, sometimes even before your coffee fix. When you roam through a mall, you observe the consumption habits of...
Only a floor separates the Boston offices of Jeff Vinik, head of the $53 billion Fidelity Magellan fund, and Brian Posner, who manages $11 billion for Fidelity's Equity-Income II fund. But that flo...
In a time of radical change like this, you have to keep up the momentum, but it's hard because people are so competitive and they're so scared to fail. One thing I've seen is people who are not par...
Many economists were startled when yields on long-term Treasury bonds topped the 8% mark in late October on fears of resurgent inflation. Although the U.S. economy has been nearly flawless this yea...
Here's a prediction that doesn't exactly sound like big news: In 1994, with the possible exception of a much needed reform of the Superfund law governing toxic waste dumps, no major environmental l...
After British Petroleum (BP, traded on the NYSE as an American Depositary Receipt; $53.25; estimated 1993 sales of $58 billion) announced in August 1992 that it would cut its quarterly dividend fro...
FOR SALE signs are going up all over the oil patch in what could become the biggest sell-off of oil and gas reserves in U.S. history. The sellers are major companies, such as Amoco and Chevron, whi...
When it comes to choosing between their company's bottom line and notching up more frequent flier miles for themselves, many employees choose to look out for No. 1. The cost to U.S. corporations, a...
High-dividend stocks are always popular with conservative investors, who like the steady income they provide. But with money fund rates sinking and the stock market hitting new highs, investors of ...
Invest in three- to six-month CDs if your current ones mature in October, the biggest rollover month of the year, with $100 billion worth coming due. The average six-month CD yield is a scrawny 5.5...
BORIS YELTSIN never actually said the words across the top of this page, at least not within earshot of this writer. But he might as well have. Everything the Russian President and his new partner,...
Major oil companies exploring the Gulf of Mexico have found some of the biggest U.S. reservoirs since Prudhoe Bay. But don't look for petroleum prices to drop anytime soon: The oil lies beyond the ...
BY THE TENS OF THOUSANDS, AMERICANS ARE REFUSING TO COMPROMISE their social and political principles in the quest for investment profits. As a result, so- called socially responsible investing -- i...
BIG OIL, big profits -- obscene profits, even. That's been the industry's image, but look at what really happened over the past decade: In 1980, after two huge run-ups in oil prices, the FORTUNE 50...
Staying cool in the face of catcalling fans and big-hitting opponents is part of the basic job description for anyone hoping to pitch in the big leagues. By that measure, H. Laurance Fuller, 52, a ...
Are oil stocks about to buck the market's malaise and rally? That's the contention of Paine Webber oil analyst Bryan Jacoboski, who just two years ago was known as Bryan the Bear for his downbeat a...
ROBERT B. HORTON, chairman of British Petroleum, may have the toughest job in the oil business. With revenues last year of $50 billion, BP is the fourth- largest private oil company in the world af...
MANAGING/Cover Story 66 WHY TOYOTA KEEPS GETTING BETTER AND BETTER Success never gets in the way of constant improvement. The company is simultaneously restructuring its management, refining its al...
THE MOST immediate and important effect of the Mideast turmoil for many Americans is at the gas pump. Higher prices are infuriating and often baffling. Says Marty Nyvall, Amoco Oil's manager of mar...
Five months ago, economists predicted that shrinking oil supplies would force up prices to as much as $30 a barrel in five years (MONEY, April). After the oil shock, the six stocks our sources like...
The idea of an oil shortage may be a blast from the past, but economists forecast that supplies will get low enough in the next five years to cause feverish drilling. ''Output is falling in both th...
When it came down to it, the environment took second place to jobs. Or so it did in the 1990 contract talks between Amoco and the Oil, Chemical, and Atomic Workers union, whose 40,000 members inclu...
Only a few weeks ago shareholders of big oil companies were steaming through untroubled seas, all engines ahead full. The price of crude had jumped to three-year highs. Many oil stocks had made dou...
Fill 'er up and fill you up at the same time? Amoco believes there's a natural fit between fast gas and fast food, so it's contracting with the likes of Burger King, Dairy Queen, Dunkin' Donuts, an...
A PHYSICAL CHILL settled on the 14th century at its very start, initiating the miseries to come. The Baltic Sea froze over twice, in 1303 and 1306-7; years followed of unseasonable cold, storms, an...
Good news from the oil front. In a recent issue of Science, Robert Lumpkin, the director of coal conversion projects at Amoco, writes that coal can now be liquefied at a cost competitive with crude...
The phone call came when Egypt's 1967 war with Israel had just broken out. Aristotle Onassis would lease his entire merchant fleet -- if he had an answer within an hour. ''I was cutting the grass o...
Gin rummy ace Richard Morrow, chairman of Amoco, just chose a new, high-stakes game: mergers and acquisitions. He has bid for Dome Petroleum, the troubled Canadian oil company. If Morrow wins, he w...
THE INDUSTRIAL GIANTS of the U.S. have lunged into restructuring with the same fervor that legions of middle-aged, flabby Americans have brought to crash diets and punishing exercise machines. Acco...
The British government unexpectedly announced it would sell its remaining 32% interest in British Petroleum. The government has been divesting its shares over the past decade. BP holds a controllin...
Only bullheaded contrariness or folly, it might seem, could prompt an investor to put money in oil stocks these days. The average price refiners pay for crude has fallen by a third since last Novem...
British Petroleum took control of Standard Oil by abruptly firing its top executives and replacing them with BP officials. At one stunning stroke, out went Chairman Alton W. Whitehouse, 58, and Pre...
| Most Viewed | Most Emailed | Top Searches |
| Most Viewed | Most Emailed | Top Searches |
