Tag: BP

bp awards Halliburton integrated contract for Bumerangue field appraisal in Brazil

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HOUSTON, TEXAS (By Halliburton, 25.Aug.2026, Words: 150) — Halliburton received an integrated contract by bp for the first appraisal campaign in the Bumerangue field, offshore deepwater Brazil. The award includes a comprehensive suite of services to fast-track the appraisal campaign for bp’s discovery. The contract includes an integrated package of drilling […]

Equinor reaches deal to buy bp’s interest in Bay du Nord project

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OSLO, NORWAY (By Equinor, 6.Jul.2026, Words: 315) — Equinor has reached an agreement with bp to acquire its interest in the Bay du Nord project offshore Canada, increasing Equinor’s ownership to 100%. The transaction reflects bp’s ongoing portfolio simplification and provides Equinor with increased flexibility to continue maturing the project towards […]

Eni boasts start of gas delivery from the Quiluma field, offshore Angola

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ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 17.Mar.2026, Words: 202) — Eni celebrated the first gas delivery from the new gas consortium (NGC)’s Quiluma field, a major milestone for Angola’s energy sector. Initial gas export from Quiluma is expected at 150 million standard cubic feet per day (MMscf/d). And, Eni […]

Noble reveals awards totaling $1.3bn, updates on Guyana, Trinidad and Suriname operations

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MEXICO CITY, MEXICO and HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 26.Jan.2026, Words: 610) — Noble Corporation plc announced new contract awards for 9 rigs comprising approximately $1.3bn of backlog, including a 3-year contract for the harsh environment semisubmersible Noble GreatWhite, which will expand the company’s existing Norway presence into […]

BP interested in cross-border opportunities with Venezuela, company’s Trinidad head says

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PORT OF SPAIN, TRINIDAD AND TOBAGO (By Curtis Williams, Reuters 26.Jan.2026, Words: 309) — BP‘s head of Trinidad and Tobago said on Monday the oil and gas major is still interested in cross-border opportunities with Venezuela, despite the government in Caracas suspending all bilateral energy agreements with its neighbor last year. […]

bp and Stonepeak ink deal for Castrol valued at $10.1bn 

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LONDON, ENGLAND (By bp 24.Dec.2025, Words: 746) — Following a comprehensive strategic review of Castrol, bp reached an agreement to sell a 65% shareholding in Castrol to Stonepeak, at an enterprise value of $10.1bn. This represents an implied EV / LTM EBITDA of around 8.6x reflecting the strength of the […]

EAI brief: Stonepeak to buy 65% stake in Castrol from bp

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ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 24.Dec.2025, Words: 121) — bp reached an agreement to divest a 65% shareholding in Castrol. The enterprise value of the deal is calculated at $10bn. The total net proceeds to bp of c.$6bn, including accelerated dividend payments, will be fully utilized to reduce […]

bp confirms success at Volans-1X exploration well in Namibia’s Orange Basin

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 HOUSTON, TEXAS (By Isaac Silvestre, Energy Analytics Institute, 20.Oct.2025, Words: 231) — bp confirmed preliminary results from the Volans-1X exploration well in Namibia’s Orange Basin, as earlier reported by operator Rhino Resources.  Petroleum Exploration License 85 (PEL85), where the well was drilled, is operated by Rhino with a working interest […]

bp delivers on 6 start-ups in 2025 with Murlach start-up

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LONDON, ENGLAND (By bp, 9.Oct.2025, Words: 315) — bp has safely started up its sixth major upstream oil and gas project of 2025 with production from the Murlach field in the UK North Sea. The 6 projects add around 150,000 barrels of oil equivalent per day (boe/d) combined peak net […]

bp reaches FID on Gulf of America Tiber-Guadalupe project 

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HOUSTON, TEXAS (By bp, 29.Sep.2025, Words: 765) — bp has reached a final investment decision on the Tiber-Guadalupe project in the Gulf of America, approving its second new production platform in less than two years in the critical US offshore region and further underscoring the significance of the US Gulf to […]

bp inks MOU to drill 5 wells in the Mediterranean

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HOUSTON, TEXAS (By bp, 9.Sep.2025, Words: 425) — bp announced the signing of a Memorandum of Understanding (MOU) to evaluate opportunities for a 5-well program at water depth ranging from 300m to 1,500m in the Mediterranean Sea. The program is designed to accelerate the development and production of national gas […]

bp reports strong 2Q:25 operational performance [pdf downloads]

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LONDON, ENGLAND (By bp, 5.Aug.2025, Words: 90) — bp reported strong operational performance in the 2Q:25 and underlying RC profit of $2.4bn and operating cash flow of $6.3bn. bp also revealed enhancements to it portfolio and progressing divestments: 5 major project start-ups and 10 exploration discoveries year-to-date, and agreement to sell […]

bp awards Subsea 7 and SLB OneSubsea EPCI contract for Ginger project

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PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 29.Apr.2025) — Subsea 7 announced the award of a substantial engineering, procurement, construction, and installation (EPCI) contract by bp to Subsea Integration Alliance (SIA) for the Ginger project offshore Trinidad and Tobago. The contract is valued between $150mn-$300mn, according to Subsea 7. RELATED: […]

Eni confirms oil find at Capricornus 1-X well offshore Namibia

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HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 24.Apr.2025) — Eni confirmed preliminary results at the Capricornus 1-X well in the petroleum exploration license 85 (PEL85), in Namibia’s Orange basin, which found oil. The Capricornus 1-X well, operated by Rhino Resources, was spud on 17 Feb. 2025 using the Noble Venturer […]

bpx foresees average annual CAPEX of $2.5bn between 2024-2030

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HOUSTON, TEXAS (By Philipp Markopulos, Energy Analytics Institute, 7.Mar.2025, Words: 175) — bpx energy, which operates in the Permian and Eagle Ford basins in Texas, as well as the Haynesville basin in Texas and Louisiana, focusing on safely producing high-margin barrels while lowering emissions, expects its average annual Capex to […]

FACT SHEET: bp America’s Whiting and Cheery Point Refineries

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HOUSTON, TEXAS (Philipp Markopulos, Energy Analytics Institute, 7.Mar.2025) — bp operates 2 refineries in the US: Whiting, Indiana, and Cherry Point, Washington with a combined capacity to process about 700,000 barrels per day (b/d) of crude oil, representing about 40% of bp’s global refining capacity, the company announced on 7 […]

bp resets business strategy

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ATLANTA, GEORGIA (Chad Archey, Energy Analytics Institute, 26.Feb.2025) — UK energy giant bp introduced a fundamentally reset strategy, with significant capital reallocation, and plans to drive improved performance, aimed at growing free cash flow, returns and long-term shareholder value. “Today we have fundamentally reset bp’s strategy. We are reducing and […]

bp and Iraq Reach Final Agreement for Kirkuk Oil Field Redevelopment

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 25.Feb.2025) — bp reached agreement on all contractual terms with Iraq to invest in several giant oil fields in Kirkuk providing for the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.  The agreement […]

Xodus Announces First Ever UK CCS Permit by the NSTA 

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(Editors at Energy Analytics Institute, 8.Jan.2025) — The Offshore Petroleum Regulator for Environment and Decommissioning, acting on behalf of the UK Secretary of State, agreed in Oct. 2024 to the grant of consent for the Northern Endurance Partnership Environmental Statement. This decision opened the door for the award of the […]

bp and XRG Close Natural Gas Platform Arcius Energy 

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(Ian Silverman, Energy Analytics Institute, 16.Dec.2024) — bp and XRG reached financial close and completed formation of their new joint venture (JV) and international natural gas platform – Arcius Energy, announced in Feb. 2024. The JV will combine bp’s and XRG’s deep technical capabilities and proven development track records as […]

Shell Announces FID for Silvertip Phase 3 in US GOM

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(Energy Analytics Institute, 12.Dec.2024) — Shell plc subsidiary Shell Offshore Inc. announced a final investment decision (FID) on the Phase 3 Silvertip project in the US Gulf of Mexico (GOM). The project will deliver two wells to boost production at the Shell-operated Perdido spar, Shell announced 12 Dec. 2024 in […]

UK’s First CCS Projects in Teesside Progressing to Executive Phase

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(Equinor, 10.Dec.2024) — Equinor, alongside project partners, announced financial close after taking a Final Investment Decision (FID) to progress to execution phase on two of the UK’s first carbon capture and storage (CCS) projects in Teesside, the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power). “It is […]

Indonesia’s Tangguh LNG project reaches $7bn FID

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HOUSTON, TEXAS (Editors at Energy Analytics Institute, 22.Nov.2024, Words: 259) — The joint venture (JV) partners of the Tangguh LNG Project led by bp, the project operator, have reached a Final Investment Decision (FID) on the Tangguh Ubadari, CCUS, Compression (UCC) Project, a $7bn initiative. Tangguh LNG will have a […]

Israel Conflict Gains Grip as Output: Rystad Says

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(Rystad, 17.Oct.2024) — Here is Rystad Energy’s market update from Middle East Research Director, Aditya Saraswat. “Tensions are persisting in the Middle East and the humanitarian toll is climbing. Energy market fundamentals have been largely unaffected to date, but this could change at a moment’s notice. In a widespread regional […]

Shell Poised to Add Pipeline Capacity in US GOM

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(Shell Pipeline Company, 3.Oct.2024) — Shell Pipeline Company LP announced the Final Investment Decision (FID) for the Rome Pipeline, an offshore pipeline construction project increasing access between Shell’s Green Canyon Block 19 (“GC-19”) pipeline hub platform and the Fourchon Junction facility on the Louisiana Gulf Coast. The pipeline will bring […]

Golar and bp Enter Commercial Reset Arrangements for FLNG Gimi

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(Golar LNG, 5.Aug.2024) — Golar LNG Ltd., and bp, as operator of the Greater Tortue-Ahmeyim LNG Project, have executed agreements to implement a commercial reset for FLNG Gimi. The commercial reset agreement simplifies contractual cash flows and settles previous disputes related to payment mechanisms for pre-commercial operations date (“Pre-COD”) contractual cash […]