From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic…
BP's first-quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.London-based BP said it expected significantly lower refining…
BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China's Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday. The planned production site for acetic acid…
The upstream consortium, led by UK enerrgy giant major BP, announced that the Azeri-Central-East (ACE) project is moving forward at pace with the awards of key contracts.BP as operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development…
British oil major BP Alaska announced that it is selling its entire business to Hilcorp Alaska, marking the exit from Alaska after six decades.The $5.6 billion sale includes Opens a New Window. interests in the Prudhoe Bay oil field, Point Thomson gas field and the trans-Alaska pipeline system…
British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.The deal, which includes interests in the most prolific oil field in U…
Supermajors BP and Eni on Wednesday signed an exploration and production sharing agreement (EPSA) for Block 77 in central Oman with the Ministry of Oil and Gas of the Sultanate of Oman.Block 77 covers a total area of over 2,700 square kilometers…
A strong rise in oil and gas production helped BP offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.BP's second quarter contrasts with Total and Norway's Equinor, which posted sharp earnings drops…
A BP drilling rig reached its destination in the North Sea on Wednesday after 11 days of delays due to Greenpeace protests over climate change, the activist group said.The 40,000-metric-ton Paul Loyd JNR left Cromarty Firth, north of Inverness…
BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over the next two years.Under the terms of the deal…
BP shareholders overwhelmingly approved a climate resolution on Tuesday backed by investors and the oil and gas company which calls for it to meet the 2015 Paris climate agreement.The resolution, co-filed by shareholder group Climate Action 100+…
Greenpeace activists blocked the entrance to BP's London headquarters on Monday, demanding one of the world's biggest energy companies ends all new oil and gas exploration or goes out of business.Greenpeace activists arrived at the building…
BP will face pressure at a meeting next week to set tougher targets to combat climate change, the latest signal from investors that they want the oil and gas industry to do more to clean up its act.After BP's 2018 carbon emissions rose to their highest in six years…
BP's first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were partly offset by higher production and stronger trading.The slump in profits marks the first significant dent in…
European oil major BP plans to exit from two production sharing contracts (PSC) for projects drilling for shale gas in the southwestern Chinese province of Sichuan, three sources with the knowledge of the matter said this week.BP is the last of the international oil majors…
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