Mitchell Ferman

(Bloomberg) -- BP Plc posted its strongest quarterly profit in more than four years as its refining and trading businesses boomed during the Iran war.

Meg O'Neill strives to streamline the business and rebuild investor confidence Key Takeaways: [Stay on top of transportation news: Get TTNews in your inbox .]

BP Plc Chief Executive Officer Meg O’Neill said it’s “prudent” to stop thinking of the company as a Big Oil supermajor, a significant shift in how she wants investors to judge the oil giant as she works to reverse years of under-performance.

Equinor ASA is partnering with Chevron Corp. in Namibia, joining a number of major energy companies hoping to turn the southern African country into the world’s next oil hotspot.

The global oil market has diverged fundamentally, with a bearish outlook for crude but bullish prices for products, said TotalEnergies SE Chief Executive Officer Patrick Pouyanne.

(Bloomberg) -- The cost of shipping oil cargoes on a supertanker through the Strait of Hormuz is about $20 million, the boss of TotalEnergies SE said, underscoring the wide margins to be made by traders and shipowners.

BP Plc named Ian Tyler chairman following an interim stint leading the board this summer, after the unexpected ouster of Albert Manifold in May.

BP Plc named Ian Tyler chairman following an interim stint in the role, ending a period of boardroom drama and allowing CEO Meg O'Neill to continue reshaping the company.

BP Plc’s company secretary Ben Mathews will leave the oil major at year-end following an extended personal leave that coincided with the unexpected removal of ex-Chairman Albert Manifold.

BP Plc’s North Sea operations have drawn interest from suitors including Adura and NEO Next+, people familiar with the matter said, as the oil major works to exit the basin even as the UK government hints at allowing more drilling there.