Oil & Gas

BP to move to new London HQ in 2024, according to reports

BP (LON: BP) is to up sticks and move its London headquarters to a new location in the city, according to reports.

Reuters says the London-listed oil and gas giant will take up residency in a new office, close to Trafalgar Square, in 2024.

In 2020, BP sold its 1 St. James’s Square headquarter for around a quarter of a billion pounds, part of chief executive Bernard Looney’s plan to cut costs.

In two years’ time the company will move to the 20 Carlton House Terrace, currently under re-development.

According to Reuters, the new office has a surface area of around 70,000 square feet, compared with the more than 100,000 sq ft office in St James’s Square.

BP has started to move its main trading operations in London’s Canary Wharf financial district from 20 Canada Square to 25 North Colonnades, the company told the news agency.

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