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Oil company to maintain pace of share buybacks despite impact of falling gas pricesBusiness live – latest updatesBP said it would cut $2bn (£1.6bn) in costs from its business by the end of 2026 after reporting worse than expected profits for the first quarter of the year.The oil company revealed that its underlying profits fell to $2.7bn for the first three months of 2024,...

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firmsAbu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP in a sign that depressed share values in London are making even the biggest British businesses takeover targets.Abu Dhabi National Oil Company (Adnoc) considered options including purchasing BP or acquiring a large stake before...

Oil and gas company criticised by campaigners as it plans more share buybacks to return cash to investorsBusiness live – latest coverageProfits at the energy company BP halved last year to nearly $14bn (£11bn), but were better than expected after weaker oil and gas market prices caused revenues to slump across the industry.BP said it would return more cash to investors with $3.5bn of...