BP's current joint venture partners in Tropical BioEnergia S.A. are Maeda S.A. Agroindustrial (25 per cent) and LDC-SEV Bioenergia S.A. (25 per cent). After the deal is completed, subject to ...

British oil major BP on Tuesday posted a sharp drop in fourth-quarter profit, pledging to "fundamentally" reset the embattled energy company's strategy.

Maybe the $45 million that BP (along with another $45 million from partner Verenium Corp.) is putting into a new cellulosic ethanol commercializaion project will result in better headlines.

BP shares jumped early Monday following weekend reports that activist investor Elliott Management has built a stake in the struggling oil major.