Oil and Gas 360 HOUSTON–(BUSINESS WIRE)– Archaea Energy Inc. (“Archaea”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that it has agreed to be acquired by bp (NYSE: BP) for approximately $26 per Archaea Class A and Class B share in cash, or a total enterprise value of approximately $4.1 billion, including approximately $800 million of net
Oil Price It’s been two years since British oil and gas supermajor BP Plc. (NYSE: BP) dramatically declared that the world was already past Peak Oil demand. In the company’s 2020 Energy Outlook, chief executive Bernard Looney pledged that BP would increase its renewables spending twentyfold to $5 billion a year by 2030 and “… not enter any new countries for oil and gas exploration”. That announcement
Yahoo The world’s largest energy companies, including TotalEnergies, Exxon Mobil and Chevron are ramping up buyback programmes despite criticism that they are not moving swiftly enough to increase oil and gas output as high fuel prices pinch consumers worldwide. Exxon Mobil, Chevron, Shell and TotalEnergies produced a combined profit of $51 billion, with Exxon topping the pile at $18 billion.
CNBC Oil and gas supermajor BP has agreed to take a 40.5% equity stake in the Asian Renewable Energy Hub, a vast project planned for Australia set to span an area of 6,500 square kilometers. In an announcement Wednesday, BP said it would become the operator of the development, adding that it had “the potential to be one of the largest
Yahoo Finance LONDON -BP reported its strongest operational performance in more than a decade on Tuesday on the back of rocketing oil prices that helped it step up share buybacks, even as a $24 billion writedown from exiting Russia led to a record quarterly loss. Shares in the energy firm climbed 2.8% by 1311 GMT in London trading after BP
Investing HOUSTON – British oil major BP (LON:BP) will continue betting on “lower carbon, more economical” offshore oil and gas exploration and production, a company executive said on Monday, warning that lack of investment could lead to global oil scarcity. Offshore operations allow better control of emissions, especially in the U.S. Gulf of Mexico, said Starlee Sykes, BP’s Senior Vice
World Oil (Bloomberg) — TotalEnergies SE took a $4.1 billion writedown on its flagship Russian gas project and indicated that it may belatedly join its peers in pulling back from the country two months after the invasion of Ukraine. The French energy giant initially refused to cut ties with Moscow, despite other oil majors including BP Plc and Exxon Mobil Corp.
CNBC BP has agreed to establish a strategic partnership with Japanese conglomerate Marubeni that will focus on offshore wind development and potentially look at “other decarbonisation projects, including hydrogen.” The agreement will see BP purchase a 49% stake in an offshore wind project proposed for waters off Japan’s coast. The energy major’s announcement, made Wednesday, did not contain details of the project’s size
World Oil BP and the Ministry of Energy and Minerals in Oman signed a Strategic Framework Agreement and a Renewables Data Collection Agreement which will support the potential development of a multiple gigawatt, world-class renewable energy and green hydrogen development in Oman, by 2030. As part of the agreement, BP will capture and evaluate solar and wind data from 8,000km2
Reuters LONDON – BP and Germany’s EnBW said on Monday they had submitted a joint bid for Scottish offshore wind acreage which could support wind projects with 2.9 gigawatts of capacity. Crown Estate Scotland’s ScotWind wind leasing tender is its first for a decade, and is aimed at supporting the development of around 10 gigawatts of offshore capacity. BP said
Reuters BP Plc BP.L said on Tuesday it would buy the majority share it does not already own in its Thorntons joint venture from ArcLight Capital Partners LLC to expand its presence in the U.S. fuels and convenience retail business. The acquisition will bring BP more than 200 retail stores in Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida and will mark
Reuters Wind and solar power capacity expanded rapidly in 2020 while global energy demand cratered because of the pandemic, yet this did not yet reflect a “decisive shift” towards meeting U.N.-backed climate goals, BP said in its annual energy review. Last year witnessed the biggest fall in carbon emissions in more than 75 years, putting the world closer to the
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