BP – Page 16 – Oil & Gas 360

We are all about ‘Advantaged Oil’ and 21st Century Data Processing Capacity: BP

January 18, 2018

BP’s Chief Operating Officer for Developments and Technology James Dupree recently defined BP’s current upstream focus. The new focus was no doubt influenced by the commodities price downturn. Dupree said BP’s upstream priority is on what BP calls “advantaged oil.” “From an investment perspective, an advantaged oil project means a short cycle time for development (from finding the resource to

BP U.S. Onshore’s Use of Smart Tech Drives 50% Reduction in Man Hours

November 21, 2017

BP’s U.S. onshore operations using drones, big data, augmented-reality smart glasses, multilateral wells “If you look at any industry, every single one is being turned inside out by technology,” Brian Pugh, Lower 48’s chief operation officer – production said. “The energy industry is no different.” BP said many of the new innovations being deployed across the Lower 48 business have

BP Chairman Carl-Henric Svanberg to Retire, Board Launches Successor Search

October 19, 2017

Guided BP through aftermath of Deepwater Horizon disaster BP Chairman Carl-Henric Svanberg has informed the company’s board of directors of his intention to retire as chairman. The company said Svanberg will chair the annual general meeting to be held in May 2018 and will remain in position until a successor is in post. Ian Davis, the BP board’s senior independent

BP Starts Production from Oman’s Unconventional Gas Field

September 27, 2017

Tight gas production techniques perfected in the U.S. expected to deliver 1 Bcf/day to Sultanate of Oman; two-phase project targets 10.5 Tcf of natural gas — BP holds 60% interest, Oman 40% BP has started producing natural gas from what it said is its largest project start-up in 2017. The Khazzan gas field, which is operated by BP in partnership

BP Begins Shipping NatGas to Industrial Customers, Independent Power Producers in Mexico

September 19, 2017

Delivering to 8 states – Nuevo Leon, Coahuila, San Luis Potosi, Veracruz, Mexico State, Guanajuato, Tamaulipas and Queretaro BP Energía México, BP’s natural gas marketing and trading arm in Mexico, has started to deliver approximately 200,000 mmbtu/d of natural gas to industrial users, local distribution companies and independent power producers in eight states in Mexico. BP said in a press

BP Chief says North Sea Costs are $15 per Barrel

September 11, 2017

Dudley credits standardization, simplification In a talk he gave last week at the Society of Petroleum Engineers Offshore Europe conference in Aberdeen, BP CEO Bob Dudley said his company has cut production costs by half in the North Sea. “This focus on standardization, simplification and discipline on cost has contributed to our average production costs in the North Sea coming

BP Makes Moves

September 8, 2017

Out of Azerbaijan, and Into India A current existing deal between international oil giant BP (ticker: BP) and SOCAR in the Azeri-Chirag-Guneshli (ACG) field is due to expire in 2024. A new plan will take SOCAR’s stake in the field to 20% from the current 11.6% while BP’s share is predicted to drop to 30% from the current 35.8%, according

EnerCom Announces Speakers and Agenda for The Oil & Gas Conference® 22 in Denver – August 13-17, 2017

August 2, 2017

Presenters added to EnerCom’s Oilfield Tech & Innovation Day – Aug. 17, 2017 EnerCom has announced the speakers and agenda for The Oil & Gas Conference® 22 on August 13-17, 2017, in Denver, at the Westin Denver Downtown. The four-day conference will feature presentations from C-level executives at publicly traded and private oil and natural gas companies, as well as

BP Sees Its Unit Production Costs 40% Lower than 2013

August 1, 2017

International oil giant BP (ticker: BP) reported that its Q2 2017 production—at 2.431 MMBOEPD was 10% higher than Q2, 2016. The company earned $144 million during the second quarter, bringing its profit to $1.593 billion during the first half of 2017. This compares to a loss of approximately $2 billion during the first half of 2016. BP’s capital expenditure was

BP and Rosneft Expand Natural Gas Cooperation

June 2, 2017

A new MoU between BP and Rosneft will see more Russian natural gas flowing to Europe BP (ticker: BP) and Russian oil giant Rosneft signed a Memorandum of Understanding (MoU) in St. Petersburg Friday to bring a new stream of Russian natural gas to Europe by the end of this decade. Previously, BP said it could receive between 7 and

BP’s First 9 Offshore Wells in West Nile Delta Project are Producing, Gas Going to Egypt: BP

May 11, 2017

BP said it started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt, eight months ahead of schedule. First gas was exported to Egypt’s national grid on March 24, 2017 and the commissioning of all nine wells of the development’s first two fields and ramp up to stable operations has

BP Moving to Denver from Houston

December 16, 2016

BP seeks access to key producing basins in Rockies, sees move as strategic platform for growth BP (ticker: BP) is moving a U.S. headquarters from Houston to Denver. The company said its U.S. Lower 48 onshore Denver headquarters operations will be closer to its asset position in the Rocky Mountain region, which the company designated as “an important energy hub of

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