oil and gas business
Coverage of oil and gas business in the Nexus archive.
- BP puts North Sea oil and gas business up for sale
BP has initiated a formal process to sell its North Sea oil and gas business, marking the end of six decades of production in the region. The move aligns with efforts by new CEO Meg O’Neill to simplify the company and reduce debt.
- Insurers cut prices in hunt for new oil and gas business
Insurers are reducing prices to attract new oil and gas business. Projects in safe regions are becoming more valuable, leading to lower premiums as competition intensifies.
- BP removes board chair, citing "conduct" concerns
BP removed board chair Albert Manifold over 'serious concerns' regarding governance standards, oversight, and conduct. This follows recent leadership turmoil, including the departure of two CEOs, as BP shifts focus back to its core oil and gas business. The company appointed Ian Tyler as interim chair while searching for a permanent replacement.