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 […]
Tag: BP
bp and Iraq Reach Final Agreement for Kirkuk Oil Field Redevelopment
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
(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 […]
Greater Tortue Ahmeyim LNG Flows First Gas Offshore Mauritania and Senegal
HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 2.Jan.2025) — bp has begun flowing gas from wells at the GTA Phase1 liquefied natural gas (LNG) project to its floating production storage and offloading (FPSO) vessel for the next stage of commissioning. bp is operator of GTA with a 56% working interest, […]
bp and XRG Close Natural Gas Platform Arcius Energy
(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
(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
(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
(Energy Analytics Institute, 22.Nov.2024) — 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 LNG production capacity of 11.4 million […]
bp, Equinor, Shell and TotalEnergies to Boost Access to Energy (PDF Download)
(Equinor, 15.Nov.2024) — bp, Equinor, Shell and TotalEnergies announce a commitment to invest in support of the UN Sustainable Development Goal 7 (UN SDG7), which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. The four energy majors have come together with a $500mn joint investment […]
Israel Conflict Gains Grip as Output: Rystad Says
(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 […]
Enbridge Sanctions Pipelines to Support bp’s New Deepwater US GOM Development
(Enbridge, 3.Oct.2024) — Enbridge Inc. will build, own, and operate crude oil and natural gas pipelines in the U.S. Gulf of Mexico for the recently sanctioned Kaskida development, operated by BP Exploration & Production Company (“bp”). The crude oil pipeline, named the Canyon Oil Pipeline System, will be a combination of 24″ and […]
Shell Poised to Add Pipeline Capacity in US GOM
(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 […]
EAI’s NRGBriefs: Aug. 2024
(Energy Analytics Institute, 31.Aug.2024) — Energy briefs as well as others related to finance and projects during Aug. 2024 including Petrobras achieving its main target at the Uchuva-2 well offshore Colombia; Golar LNG and bp entering into commercial reset arrangements for FLNG Gimi; and more. LATIN AMERICA AND THE CARIBBEAN […]
Golar and bp Enter Commercial Reset Arrangements for FLNG Gimi
(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 […]
IPCEI Approval Paves Way at bp’s Lingen Hydrogen Project
(bp, 15.Jul.2024) – bp has been granted funding, provided jointly by BMWK and Lower-Saxony Government, as part of the European IPCEI Hy2Infra wave for a green hydrogen project in Germany. The funding will help support the development of a 100MW green hydrogen project next to bp’s Lingen Refinery. German Federal Minister […]
Audi and bp in Strategic Partnership for Formula 1
(bp, 14.Jul.2024) – Audi and bp are joining forces in an extensive new strategic partnership in Formula 1. As Audi prepares to enter the pinnacle of motor racing in 2026, which also marks the introduction of ground-breaking new FIA F1 Technical Regulations featuring enhanced electrification and use of Advanced Sustainable fuel, […]
The bp Energy Outlook 2024
(bp, 10.Jul.2024) — This year’s Energy Outlook is focused on two main scenarios: Current Trajectory and Net Zero. These scenarios are not predictions of what is likely to happen or what bp would like to happen. Rather they explore the possible implications of different judgements and assumptions concerning the nature of the energy transition. The scenarios […]
Aker Solutions Secures Brownfield, Modification Frame Deal with Azule Energy
(Aker Solutions, 6.Jun.2024)) — Aker Solutions secured a sizeable (1) long term frame agreement with Azule Energy to provide engineering, procurement, and construction services (EPC) for brownfield projects and modifications for two FPSOs in Angola. This is a continuation of the current frame agreement Aker Solutions has with the operator […]
Mega Gas Project off Africa Nears Final Stages Before Start-up
(bp, 4.Jun.2024) — Seven years in the making, something remarkable is taking shape in the ocean where Mauritania and Senegal meet. A project, which includes a breakwater, subsea, a floating liquefied natural gas facility (FLNG), and floating production, storage and offloading vessel (FPSO) – each an engineering feat in its own […]
GTA LNG Project Reaches Milestone with Arrival of FPSO
(bp, 4.Jun.2024) — The floating production storage and offloading (FPSO) vessel, a key component of the Greater Tortue Ahmeyim (GTA) Phase 1 LNG development, has arrived at its final location offshore on the maritime border of Mauritania and Senegal. The FPSO vessel is currently being moored at the site 40km offshore […]
Mega Gas Project off Africa Nears Final Stages before Start-up
(bp, 4.Jun.2024) — It takes extraordinary engineering and technology to keep the world supplied with energy. The latest example – one of bp’s biggest-ever projects – is coming together in the deep waters of the Atlantic Ocean, off the coast of West Africa. Seven years in the making, something remarkable is […]
BP in Talks to Sell Some Trinidad Upstream Gas Assets to Perenco
(Reuters, 8.Apr.2024) — BP is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, according to three people familiar with the talks. BP is Trinidad and Tobago’s largest natural gas producer with an output of just over 1.3 billion […]
Trinidad Seeks US License for BP Gas Project Shared with Venezuela
(Reuters, 21.Mar.2024) — The government of Trinidad and Tobago has begun talks with the U.S. for a license that would allow the joint development of a natural gas project shared with Venezuela that also involves BP, Energy Minister Stuart Young said on Thursday. The Manakin-Cocuina areas are part of the […]
bp Reports 2023 Results [PDF Downloads]
(bp, 6.Feb.2024) — bp delivered strong underlying financial performance in 2023, raising the dividend by 10% and buying back $7.9bn of shares, with net debt falling to its lowest level over the past decade ____________________
BP sees Trinidad Deepwater Gas Getting Greenlight as soon as 2025
(Reuters, 23.Jan.2024) — BP expects the Calypso deepwater natural gas field off Trinidad and Tobago, which it shares with Woodside Energy to get the greenlight when a final investment decision (FID) is made as early as the end of next year, a company executive said. BP, which holds a 30% stake in […]
Trinidad in Talks with Europe to Supply Venezuelan Gas
(Reuters, 22.Jan.2024) — Trinidad and Tobago has begun talks with some European countries on the supply of liquefied natural gas (LNG) produced from Venezuelan gas, Prime Minister Keith Rowley said on Monday. Venezuela’s government in December granted a 30-year license to Shell (SHEL.L), opens new tab and Trinidad’s National Gas Company (NGC) for joint […]
The Energy Chamber: Dragon Deal a Historic Achievement
(Trinidad and Tobago Energy Chamber, 22.Dec.2023) — The Ministry of Energy and Energy Industries has announced that the Bolivarian Republic of Venezuela has granted the license for the Dragon Gas Field to The National Gas Company of Trinidad and Tobago Limited and Shell to develop and produce gas for export […]
Trinidad Inks Gas Deal with Venezuela
(Trinidad and Tobago Ministry of Energy and Energy Industries, 22.Dec.2023) — Historic and unprecedented energy deals for Trinidad and Tobago that provide us with positive outlooks for our future, the Honorable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister […]
Brazilian Bid Round Opens New Offshore Frontier in Pelotas Basin
(WoodMac, 14.Dec.2023) — A total of 193 blocks were auctioned in Brazil’s December 13 oil and gas licensing round, 192 under concession and one under production sharing agreement, signaling strong optimism for the industry, according to Wood Mackenzie. Highlights from these bid rounds included: The total amount in bonuses was […]
Increased Market Share Expected as Investment Builds for Low-Carbon Hydrogen
(WoodMac, 5.Dec.2023) — Oil and gas Majors have just an 8% market share of announced global net low-carbon hydrogen production capacity, which equates to 102.6 million tonnes per annum (Mtpa), according to latest analysis from Wood Mackenzie. The Majors are focused on getting small-scale projects operational before 2030 to pave the […]
New Unitized Commercial Structure for Atlantic LNG
(Office of the Prime Minister of Trinidad and Tobago, 5.Dec.2023) — The government has secured a new unitized commercial structure for Atlantic LNG which allows the National Gas Company of Trinidad and Tobago (NGC) to obtain a greater share in the revenue derived from the sale of LNG on the […]
Trinidad PM Rowley Leads Energy Talks with bp in London
(Office of the Prime Minister of Trinidad and Tobago, 4.Dec.2023) — Prime Minister Dr the Hon. Keith Rowley met with bp’s Interim Chief Executive Officer, Murray Auchincloss at the company’s headquarters in London on 4 Dec. 2023. Minister of Energy and Energy Industries and Minister in the Office of the […]
Companies Ask US, EU to Intervene in Venture Global LNG Dispute
(Reuters, 11.Nov.2023) — BP (BP.L), Edison (EDNn.MI) and Shell (SHEL.L) pressed a U.S.-EU energy group to intervene in a dispute with liquefied natural gas exporter Venture Global LNG over the U.S. firm’s failure to deliver contract supplies of the fuel. The companies appealed to the U.S.-EU Task Force on Energy Security last month, and a […]
Kosmos Boosts Working Interest, Assumes Operatorship of Yakaar-Teranga
(Kosmos, 6.Nov.2023) — Kosmos Energy Ltd. (NYSE/LSE: KOS) has increased its working interest to 90% and assumed operatorship, subject to customary government approvals, of the world-scale Yakaar-Teranga gas discoveries offshore Senegal. The increase in working interest follows BP‘s exit from the field. Yakaar-Teranga is one of the world’s largest gas […]
EAI’s NRGBriefs: Oct. 2023
(Energy Analytics Institute, 31.Oct.2023) — Energy briefs as well as others related to finance and projects during October 2023 including Vista‘s third quarter 2023 earnings presentation; the long-awaited Citgo Petroleum auction; Colombia’s first seabed allocation competitive process for offshore wind energy; former Trinidad and Tobago energy minister Kevin Ramnarine on […]
![bp’ 3Q:23 Results: Focused on Delivery [PDF Downloads]](https://energy-analytics-institute.org/wp-content/uploads/2023/02/us-bp-west-houston-source-energy-analytics-institute-scaled.jpg)
bp’ 3Q:23 Results: Focused on Delivery [PDF Downloads]
(bp, 31.Oct.2023) — Our results this quarter show how we are making progress on our strategy to transform from an international oil company to an integrated energy company. From the expansion of the Tangguh LNG facility in Indonesia to a new deal with Tesla in EV charging, we’re providing oil […]
Rowley: LNG Restructuring Saving T&T
(Trinidad Guardian, 27.Oct.2023) — Prime Minister Dr Keith Rowley yesterday described the signing in early December of the agreements to restructure the shareholding in Atlantic LNG as one of the most significant decisions that the Government has been able to accomplish. And he told the post-Cabinet news conference yesterday at […]
bp Boosts EV Charging Network with $100mn Order from Tesla
(bp, 26.Oct.2023) — Today bp (NYSE: bp) announced a deal in which bp pulse, bp’s EV charging business, will acquire ultra-fast charging hardware units from Tesla (NASDAQ: TSLA) for $100mn. The investment will facilitate the expansion of the bp pulse public network across the US, while also enabling support for […]
Big Oil: Upstream M&A Gets Serious
(WoodMac, 26.Oct.2023) — ExxonMobil’s and Chevron’s belief in the durability of upstream could hardly be better demonstrated by the game-changing acquisitions of two flagship US Independents. It’s a pivotal moment for the sector and widens the strategic gulf with the Euro Majors. Here are our team’s thoughts. First, what drove […]
BP Fair Fund to Compensate Certain Investors in BP plc Ordinary Shares
(RCB Fund, 24.Oct.2023) — RCB Fund Services LLC, the Distribution Agent for the BP plc Fair Fund, announces the opening of the claims process for the BP Fair Fund for Ordinary Shareholders. The United States Securities and Exchange Commission (SEC) established the BP Fair Fund to distribute funds to investors […]
EAI’s NRGBriefs: Sep. 2023
(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during Sep. 2023 including Petrobras saying that in regards the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an […]
bp Inks MOU with Subsea Integration Alliance
(bp, 25.Sep.2023) — bp has signed a Memorandum of Understanding (MoU) with Subsea Integration Alliance aimed at developing a framework to enhance subsea project performance. The agreement with the Alliance, which comprises Subsea7 and OneSubsea™, an SLB company, will combine the three companies’ skills, knowledge and experience across a global […]
Kate Thomson Appointed as bp Interim CFO
(bp, 19.Sep.2023) — bp today announced that Kate Thomson has been appointed interim chief financial officer. Her appointment follows the appointment last week of Murray Auchincloss as bp’s interim chief executive officer. Kate is currently bp’s senior vice president, finance for production & operations, responsible for the financial stewardship of […]
BP CEO Looney to Resign After Personal Relationships with Colleagues
(Reuters, 12.Sep.2023) — BP CEO Bernard Looney has stepped down after less than four years in office for failing to fully disclose details of past personal relationships with colleagues, the company said on Sept. 12. BP CFO Murray Auchincloss will act as CEO on an interim basis after Looney stepped […]
bp Enters LNG Offtake Deal for British Columbia LNG Facility
(bp, 5.Sep.2023) — bp has entered its third long-term liquefied natural gas (LNG) offtake contract from the Woodfibre LNG facility based in British Columbia, Canada. With the additional contract to offtake 0.45 million tonnes of LNG per year (mtpa) for 15 years on a free on board (FOB) basis, all […]
Eni Revokes Force Majeure on Three Exploration Assets in Libya
(Eni, 3.Aug.2023) — Eni formalized with its Libyan counterpart NOC the revocation of force majeure status on exploration areas A and B (onshore), and C (offshore), where Eni is the operator with a 42.5% stake, along with BP, 42.5%, and the Libyan Investment Authority with 15%. Force Majeure, declared in […]
Reliance and bp Start Production from KG D6 Block
(Reliance Industries, 6.Jul.2023) — Reliance Industries Limited (RIL) and bp p.l.c. confirmed the commencement of production from the MJ field, following testing and commissioning activities. The MJ field represents the last of three major new deepwater developments the RIL-bp consortium have brought into production in block KG D6 off the east […]
bp Expands Investment in Bioenergy
(bp, 6.Jul.2023) — bp expanded its investment in bioenergy today as bp ventures committed $10mn, leading the Series B investment round, in WasteFuel, a California-based biofuels company that will use proven, scalable technologies to convert bio-based municipal and agricultural waste into lower carbon fuels, such as bio-methanol. Highlights: bp invests $10mn […]
Trinidad to Restart Idled LNG Unit by Early 2027
(Reuters, 7.Jun.2023) — Trinidad and Tobago aims to restart an idled liquefied natural gas (LNG) unit by the first quarter of 2027 after agreeing to restructure the facility’s ownership and negotiate new gas supplies, according to three people with knowledge of the plans. Trinidad is Latin America’s largest LNG exporter, but its joint venture […]
bpTT Adds Mango Field Production
(bpTT, 29.May.2023) — bpTT today announces the successful completion of the first phase of its “small pools” drilling campaign which began in October 2022. The campaign includes three wells in the Mango field, one well in the Savonette field and 3 wells in the Angelin field. The first phase of […]
bp’s First Quarter 2023 Results [PDF Downloads]
(bp, 2.May.2023) — bp reported strong financial results in the first quarter of 2023 and the underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn for the previous quarter. Highlights Underlying replacement cost profit* $5bn Underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn […]
bp Starts Oil Production at Argos Platform in the Gulf of Mexico
(bp, 13.Apr.2023) — bp has successfully started oil production at its Argos offshore platform, delivering more energy at a critical time and strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. With a gross production capacity of up to 140,000 barrels of oil per day, Argos is […]
bp and Shell Break Ground on Solar Plant
(bp, 12.Apr.2023) — A sod turning ceremony today at Brechin Castle signaled the start of construction on Trinidad and Tobago’s first utility scale solar project. Dr the Honourable Keith Rowley, Prime Minister of the Republic of Trinidad and Tobago was joined by the Ministers of Energy and Energy Industries and […]
T&T Energy Minister Holds Successful Talks at CERAWeek in Houston
(Loop, 8.Mar.2023) — Energy Minister Stuart Young says he has had successful discussions at CERAWeek in Houston where a number of important engagements with key stakeholders in the energy industry at a global level, to further progress this country’s energy sector development. CERAWeek is widely considered to be the most prestigious […]
Majors Capex Guidance Update
(Energy Analytics Institute, 23.Feb.2023) — “Despite bumper profits, the peer group is guiding towards $118bn in total investment in 2023, up just 4% on last year. This reflects the priorities of capital discipline, targeted investment in the best projects and shareholder returns – the group collectively returned $117bn to investors […]
EAI’s NRGBriefs: Feb. 2023
(Energy Analytics Institute, 23.Feb.2023) — Energy briefs as well as others related to finance and politics during February 2023 including Repsol commenting on improvement of prospects for operations in Venezuela; earnings updates and webcasts from Pemex, Noble Corporation, bp, Repsol and TotalEnergies; Venezuela reactivates first drilling rig, the PDVEN-778, in […]
Energy Chamber on Restructuring of Atlantic by Shareholders
(The Energy Chamber of Trinidad & Tobago, 6.Dec.2022) — The Energy Chamber of Trinidad & Tobago warmly welcomes today’s signing of agreements between bp, Shell, The National Gas Company of Trinidad and Tobago Limited (the Atlantic shareholders) and the Government of Trinidad & Tobago for the restructuring of the Atlantic […]
David Campbell at Atlantic LNG HoA Signing
(bpTT, 6.Dec.2022) — bpTT President David Campbell speaks about the deal between BP Plc, Shell Plc, The National Oil Company of Trinidad and Tobago (NGC) and Chinese Investment Corporation (CIC). Good morning It is my honour to take part in today’s event as we mark a very important milestone for […]
SLB on Award for bp’s Cypre Project
(SLB, 22.Nov.2022) — SLB announced today an award to its OneSubsea® business and Subsea Integration Alliance of a large contract by bp for its Cypre gas project offshore Trinidad and Tobago. The contract scope covers the engineering, procurement, construction, and installation (EPCI) of the subsea production systems and subsea pipelines. The award represents Subsea […]
bp Commends EPA for Advancing Methane Rules
(bp, 11.Nov.2022) — bp commends the EPA for advancing new rules aimed at reducing methane emissions. This is a critical step toward helping the US reach net zero by 2050 or sooner. Regulating methane will help prevent leaks throughout the industry and protect the environment. That’s why bp supports the […]
Trinidad asks US to Allow Venezuelan Gas Imports for LNG Plant
(Reuters, 4.Nov.2022) — The government of Trinidad and Tobago is asking the United States to authorize Venezuelan gas imports to restart an idled liquefaction train in the Caribbean nation, four sources close to the talks said. Under U.S. sanctions, companies and governments must obtain authorization from the U.S. Department of […]
Rowley: TT Must Secure Energy Future Now
(Trinidad and Tobago Newsday, 13.Sep.2022) — The Prime Minister is warning that unless investments are secured, declining natural gas levels could have dire consequences for the future of TT’s economy. Dr Rowley gave this grim warning at a media conference on Monday at the Diplomatic Centre, St Anns where he […]
Trinidad and Tobago PM’s Gas Warning
(Trinidad Express, 13.Sep.2022) — Prime Minister Dr Keith Rowley says if Trinidad and Tobago’s natural gas prospects do not improve in the next few years, this will have far-reaching consequences for Government revenues and for the quality of life of all citizens. Rowley said yesterday that this was why his […]
Trinidad PM Rowley’s Statement on Chats with Proman, BP & Shell
(Office of the PM of Trinidad and Tobago, 12.Sep.2022) — Ministerial interaction with oil, gas and petrochemical majors (Proman, BP & Shell) based in Europe. Proman – Zurich and Düsseldorf Proman is heavily invested in the oil and gas sector of Trinidad and Tobago in both the upstream and downstream. […]
Azule Energy Begins Operations in Angola
(Eni, 2.Aug.2022) — bp and Eni confirmed that Azule Energy, the new 50/50 independent joint venture combining the two companies’ Angolan businesses, has been officially established. Azule Energy is now Angola’s largest independent equity producer of oil and gas, holding 2 billion barrels equivalent of net resources and growing to […]
bp on Redemption of $2.85bn of Outstanding Notes
(bp, 25.Jul.2022) — BP p.l.c. (NYSE: BP) (LON: BP) announced that its wholly-owned subsidiary BP Capital Markets America Inc. (“BPCMA”) is exercising the option to redeem the total outstanding aggregate principal amounts of the following notes on 24 August 2022 (the “Redemption Date”): BPCMA will redeem the BPCMA 2.750% Notes […]
Cenovus Buys Outstanding 50% Interest in Sunrise Oil Sands Asset
(Cenovus Energy, 13.Jun.2022) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the transaction includes $600mn in cash, a variable payment with a maximum cumulative value of $600mn […]
bp Reshapes Canada Portfolio for Future Growth
(bp, 13.Jun.2022) — bp will increase its acreage position offshore Eastern Canada and sell its 50% non-operated interest in the Sunrise oil sands project in an agreement reached with Calgary-based Cenovus Energy. Total consideration for the transaction includes C$600mn (Canadian dollars) cash, a contingent payment with a maximum aggregate value of […]
Subsea 7 Awarded Contract Offshore Trinidad and Tobago
(Subsea 7, 11.May.2022) — Subsea 7 announced the award of a sizeable(1) project by BP for the TOPR project located offshore Trinidad and Tobago, in water depths of up to 280 feet. The project covers the installation of a 96 kilometers 12-inch pipeline, associated shore approach and diver tie-in spools. Front […]
Exxon Faces New Pressure Over Dealings with Russia’s Rosneft
(Reuters, 27.Feb.2022) — Exxon Mobil XOM.N likely will face new pressure to severe ties with Russia’s largest oil producer, said analysts, after rival BP agreed to unload a Rosneft stake. Russia’s attack on Ukraine has unleashed broad economic and political rebukes and corporate withdrawals by banks, technology and other firms […]
bp Staff Message Regarding Relationship with Rosneft
(bp, 27.Feb.2022) — bp’s Bernard Looney provides a message to all bp staff on the company’s relationship with Rosneft. To the bp team, Like so many of you, I have been deeply shocked and saddened by the situation unfolding in Ukraine. We are witnessing an act of aggression which is having tragic […]
bp Announces Successful Start-up of Herschel Expansion in US GOM
(bp, 22.Feb.2022) — bp announced the safe and successful start-up of the Herschel Expansion project in the Gulf of Mexico. This is part of bp’s strategy to invest in focused and resilient hydrocarbons. Herschel is the first of four major projects scheduled to be delivered globally in 2022. Phase 1 of […]
The MEEI Executes a Heads of Agreement for Atlantic LNG Restructuring
(MEEI, 25.Jan.2022) — The Honourable Stuart R. Young, M.P., Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister announced the execution by the Government, and Atlantic LNG Shareholders, companies affiliated with BP, Shell Trinidad and Tobago Limited (Shell) and The National Gas Company of […]
NRGBriefs: Chile Eyes Reducing CO2 Emissions by 35% by 2030
(Energy Analytics Institute, 10.Jan.2022) — Energy briefs including Chile enacting the country’s first Energy Efficiency Law in its history; bp naming Andrés Guevara De la Vega as its new president over bp in Spain; and more. EUROPE Spain — Andrés Guevara De la Vega has been name as the new […]
Trinidad’s Energy Minister Provides Annual Video Update
(Energy Analytics Institute, 31.Dec.2021) — Trinidad and Tobago’s Minister of Energy and Energy Industries Stuart Young commented in an annual video update from Port of Spain on key oil, gas and renewable achievements announced by the ministry in 2021. What follows are excerpts from his video briefing: — “We are […]