BP names new chairman after removing Albert Manifold over conduct

BP has appointed Ian Tyler as its new chair, replacing Albert Manifold who was removed due to conduct issues. Tyler, an interim chair since May, brings governance experience. BP shares have fluctuated, recently rising with energy prices, and the company reported a $3.2bn profit for Q1 2024, up from $1.3bn the prior year, attributing this to oil trading and inventory builds.

BP PLC appointed Ian Tyler as permanent chairman, effective immediately, following the removal of Albert Manifold for governance concerns. Tyler, who joined BP's board in 2025, has extensive experience in oil, gas, and mining sectors. Amanda Blanc, involved in both appointments, will depart the board next year. Tyler's appointment was praised for his leadership and governance experience.

Iraq's Oil Minister met with BP and ConocoPhillips to discuss oil and gas industry development. They talked about maximizing hydrocarbon resources, optimizing field development, and upgrading extraction technologies. BP's Kirkuk oilfield contract, aiming to increase production from 320,000 to 420,000 barrels per day, was activated. ConocoPhillips agreed to purchase a 42% share in the project, aligning with its conservative investment approach.

Hyundai Motor India and Jio-bp have partnered to integrate their EV charging networks, expanding access to over 37,000 charging points via the myHyundai app. Jio-bp contributes 7,000+ charging points, while Hyundai plans to increase its own DC fast-charging stations from 183 to 600 by 2030. The collaboration aims to enhance convenience and reliability for EV users in India.

Energean is in talks to buy BP's Egyptian oil and gas assets for $1bn, including interests in West Nile Delta and Temsah. BP aims to simplify its portfolio. Energean seeks to expand beyond Israel. BP's 2023 Egyptian production was 518 million cubic feet per day of natural gas.

The US Treasury's OFAC amended eight Venezuela-related general licenses on August 27, removing a contract clause requiring US jurisdiction. The changes apply to oil, gas, minerals, and telecommunications sectors, with specific companies like BP, Chevron, and Shell mentioned. The updates aim to support US businesses in Venezuela, following recent reforms by the Venezuelan government.