BP has completed the $10.5 billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio. The acquisition – which was announced in July and closed October 31– adds oil and gas production of 190,000 barrels of oil equivalent per day (boe/d) and 4.6 billion oil equivalent barrels (boe)
From Bloomberg BP Plc is gearing up to leave European competitors in the dust, at least when it comes to spending the industry’s enormous cash pile. While Total SA and Equinor ASA both signaled last week they’re still keeping a tight rein on spending, BP showed Tuesday it’s prepared to take some risks. After smashing earnings estimates in the third quarter, the U.K. oil
Anadarko, Chevron, BHP, BP among affected producers in Gulf of Mexico From Reuters/gCaptain (Reuters) – Energy companies on Monday halted nearly a fifth of Gulf of Mexico oil production and evacuated staff from 13 platforms as Hurricane Michael intensified and headed for a path up the eastern U.S. Gulf. Offshore producers including Anadarko Petroleum Corp , BHP Billiton, BP and Chevron Corp
From Reuters In the pine forests of eastern Texas, oilfield workers equipped with virtual-reality goggles are helping BP’s (BP.L) shale business turn a profit for the first time. Thousands of automated wells feed data on their performance into the firm’s supercomputers each evening. If they show a need for maintenance, an Uber-style system summons a subcontracted repair firm to keep
ConocoPhillips (NYSE: COP) announced that it has entered into an agreement to sell a ConocoPhillips subsidiary to BP for an undisclosed price. The subsidiary will hold a 16.5 percent interest in the BP-operated Clair Field, with ConocoPhillips retaining a 7.5 percent interest in the field. ConocoPhillips also announced it has entered into simultaneous agreements to acquire BP’s 39.2 percent interest
6,500 charging points brings opportunity for 10+ minutes of retail sales per visitor – adding varied types of energy to meet vehicle-owner demand to get customers to spend money at BP’s retail stores – about half of the gross margin at the company’s retail sites is from non-fuel items like candy and drinks From Bloomberg BP Plc plans to acquire the
Northern California U.S. District Judge William Alsup has dismissed the climate change lawsuits filed against BP (NYSE: BP), Chevron (NYSE: CVX), ConocoPhillips (NYSE: COP), Exxon Mobil (NYSE: XOM), and Shell (NYSE: RDS.A) by the cities of San Francisco and Oakland. The lawsuits were filed last September against the five big oil companies alleging that the carbon emissions from their fossil
BP helps Alaska LNG shore up gas supply for project The wheels haven’t stopped turning in Alaska’s quest to lure the necessary resources that will push its long-desired LNG mega-project toward fruition. After sales trips to meet Asian customers, including a meeting in China with President Trump, and a lot of work behind the scenes, the Alaska LNG Project reached
By REUTERS LONDON (Reuters) – BP <BP.L> reported a 71 percent jump in first-quarter profit on Tuesday driven by higher oil and gas prices and increased production as it undergoes rapid growth. At the same time, the London-based company saw its debt pile rise following $1.6 billion in payments to settle remaining lawsuits following the deadly 2010 Deepwater Horizon spill in the
Susan Dio succeeds John Mingé who will chair the National Petroleum Council study into carbon capture utilization and storage (CCUS) BP has appointed a new boss for its U.S. operations. Susan Dio, CEO of BP Shipping, has been appointed chairman and president of BP America Inc., Dio succeeds John Mingé, who will move to chair a study by the National
BP appointed Starlee Sykes as its regional president for the Gulf of Mexico and Canada, effective Feb. 1, 2018. Sykes, who will continue to be based in Houston, currently serves as vice president for BP’s global projects organization for offshore projects. “Starlee is uniquely qualified to take on this important role, with more than 20 years of upstream experience
Production from the full five-field West Nile Delta development, the Giza-Fayoum-Raven project, is expected to represent about 30% of Egypt’s current production BP p.l.c. (ticker: BP) will bring five major upstream projects online in 2018. The projects span the globe, with assets coming up in Europe, North Africa and North America. David O’Connor, BP’s head of global projects, gave a
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