Bloomberg When BP Plc announced its plans to tackle its carbon emissions in February, it overshadowed another big change: Getting rid of the traditional Big Oil corporate structure split between refining and production. Those changes are now pressing ahead as Chief Executive Officer Bernard Looney, in a memo sent to staff on May 14, said his new leadership team have …

Bloomberg Venezuelans forced to queue for days to fill up their cars with gasoline are now facing a growing shortage of propane to cook after a processing plant caught fire and distribution is being rationed. The Jose petrochemical complex that supplies propane used by about 90% of Venezuelans to cook has slowed production since a fire and a pipeline leakage, …

Bloomberg Returns from turning oil into fuels are lagging behind crude’s jump, signalling that prices are still vulnerable and demand may not be recovering fast enough to justify the rally. Crude futures have soared 73% in May, rebounding from their historic crash below zero just over a month ago, helped by production cuts across the globe after the coronavirus crisis …