BP will pay its record setting settlement over the course of the next 18 years BP (ticker: BP) will pay $18.7 billion in settlements to the U.S. and the five states along the Gulf of Mexico to resolve the Deepwater Horizons oil spill that took place in 2010. The agreement is “the largest settlement with a single entity in American
The Supreme Court has decided not to hear the case for BP and Anadarko, upholding lower court’s liability decision Appeals by BP (ticker: BP) and Anadarko Petroleum (ticker: APC) will not be heard by the Supreme Court, meaning the decision to hold the two companies liable for the Deepwater Horizon oil spill in the Gulf of Mexico in 2010 will
Attendance at this year’s St. Petersburg International Economic Forum (SPIEF) is up from a year ago when many Western companies decided to decline invitations in the wake of Russia’s involvement in Ukraine. This year, many American companies have decided to abstain from attending again, but many European oil majors joined their Russian counterparts in St. Petersburg to announce over $1
“Political differences do not strongly affect serious business”: European majors eye slate of upcoming opportunities Attendance at Russia’s St. Petersburg International Economic Forum is up from last year after many Western companies decided to back out of last year’s conference following Russia’s annexation of Crimea. “A week before the beginning of the forum we have 5,072 confirmed applications, which is
The shifting landscape of global energy 2014 marked the beginning of a new era in the oil and gas industry, said Bob Dudley, Group Chief Executive for BP’s (ticker: BP) 2015 Statistical Review of World Energy. Price volatility is nothing new to the industry, said Dudley, but “[prices] may well come to be viewed as symptomatic of a broader shifting
Companies Hope to Strengthen Relationship On May 20, 2015, Halliburton (ticker: HAL) and BP plc (ticker: BP) announced a mutual agreement to resolve remaining issues relating to charges and indemnities from the Deepwater Horizon disaster. The incident occurred 61 months ago to the day. In a company press release, Dave Lesar, Chairman and Chief Executive Officer of HAL, referred to
BP signed the final agreements for its West Nile Delta project last week BP plc (ticker: BP) last week announced that the company signed its final agreements on the West Nile Delta (WND) project. The WND has the potential for 5 Tcf of gas and 55 MMBO of condensates. BP anticipates an investment of around $12 billion from the company
BP Energy (ticker: BP) released its latest edition of the 2035 Energy Outlook on February 17, 2015, complete with supporting materials, a press release and a webcast. The landing page of the report can be accessed by clicking here. BP stopped short of calling its projections a “crystal ball,” but says we can expect the following events to occur by
Oil, Gas Prices Aside, the U.S. Economy, DJIA and Drillers Move Ahead Oil prices inched lower this morning, with West Texas Intermediate (WTI) and Brent below $54 and $58, respectively. Crude oil inventories increased by 7.3 million barrels, according to the Energy Information Administration’s (EIA) Weekly Petroleum Status Report, released on December 24. “[The] inventories are well above the upper
Partners BP and Husky expect oil from Sunrise Energy Project by Q1 of next year On December 11, Husky Energy (ticker: HSE) announced that it has commenced steam operations at its Sunrise Energy Project, a joint venture (JV) with BP (ticker: BP), in the northeast Alberta oil sands. Husky is the operator of Sunrise and has a 50% working interest
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