A brown pelican coated in heavy oil from the BP spill wallows in the surf on June 4th, 2010 on East Grand Terre Island, Louisiana. Photograph: Getty Images

BP will pay a record $18.7 billion (€16.9 billion) to resolve claims by the US and five states along the Gulf of Mexico related to its Deepwater Hori(...)

Peter Sutherland is to retire as chairman of Goldman Sachs International, after 20 years in the role. Photo: Aidan Crawley

Peter Sutherland is to retire as chairman of Goldman Sachs International, after 20 years in the role.The former attorney general is due to retire at t(...)

A section of the BP Eastern Trough Area Project  oil platform is seen in the North Sea. BP reported a sharp fall in profits for its first quarter.

BP, Europe’s second-biggest oil company, reported first-quarter profit that beat analysts’ estimates as earnings from refining and trading offset lowe(...)

Petrobras headquarters in Rio de Janeiro: the Brazilian oil group’s share price dropped 43 per cent last year. Photograph: Sergio Moraes/Reuters

One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individ(...)

The primary driver of the rise in global output is expected to be a 75 per cent jump in global average real output per head, as the prosperity of emerging economies catches up with that of high-income countries

Our ancestors lived in eras we call the Stone Age, the Bronze Age and the Iron Age. Ours is the “fossil-fuel age”. The energy we have extracted from t(...)

Ryanair put in another strong performance, on back of steady volumes, closing the day 29 cent or 3.3 per cent up at €9.96 following a sector-wide trend. Photograph: Robin Townsend/EPA

Stock markets around the world clung to modest gains on Thursday, with European equities retreating from seven-year highs, after Germany rejected a(...)

The BP chief warned it would be “a long time” before we saw $100 a barrel oil again

Oil prices rallied yesterday as BP revealed the huge damage the rout in the price has done to its business, which crashed into the red by $1 billion ((...)

 BP  became the latest energy giant to say it would slash investment this year as tumbling oil prices cut into the group’s profits.

British oil giant BP reported better-than-forecast fourth- quarter profit even as oil prices slumped, forcing Europe’s third-largest oil company to cu(...)

Some investors are betting a floor has formed under the market’s seven-month-long rout

Oil giant BP has said it is to cut capital expenditure by 13 per cent to $20 billion in 2015. Last week, Chevron announced a 13 per cent cut in capita(...)

The Swiss National Bank scrapped its euro cap on the franc and drove Swiss stocks down nearly 9 per cent, their biggest one-day percentage fall for at least 25 years. One trader described the central bank’s move as “carnage”. Photograph: Martin Leissl/Bloomberg

Switzerland’s move to jettison a three-year-old cap on the franc threw global markets into turmoil yesterday, sending the currency and most European(...)