(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 […]
Tag: BP
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 AndrĂ©s Guevara De la Vega as its new president over bp in Spain; and more. EUROPE Spain — AndrĂ©s 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 […]
Trinidad To Offer Onshore, Shallow-water Blocks In 2022
(Reuters, 8.Dec.2021) — Trinidad and Tobago next year plans to launch bidding rounds for onshore and shallow-water areas on top of last week’s launch of an auction of 17 deepwater oil and gas blocks, the nation’s energy minister told Reuters. The Caribbean country, which is among the region’s top producers […]
PM Keith Rowley Holds Energy Talks With BP In London
(The Office of the Prime Minister of Trinidad and Tobago, 4.Nov.2021) — Prime Minister Dr the Honourable Keith Rowley met with BP’s Chief Executive Officer, Bernard Looney at the company’s headquarters in London on Thursday 4 November, 2021. Minister of Energy and Energy Industries and Minister in the Office of […]
As Western Oil Giants Cut Production, NOCs Step Up
(New York Times, 14.Oct.2021) — After years of pumping more oil and gas, Western energy giants like BP, Royal Dutch Shell, Exxon Mobil and Chevron are slowing down production as they switch to renewable energy or cut costs after being bruised by the pandemic. But that doesn’t mean the world […]
British Gov’t Prepares To Help With Gas Crisis
(NPR, 18.Sep.2021) — The British government is putting up to 150 army drivers on standby to operate gas tanker trucks, as the country’s fuel delivery crisis continues and motorists roam greater London in search of open gas stations. The government insists the U.K. is not facing a fuel shortage, just […]
bpTT’s Matapal Achieves Early First Gas
(bpTT, 17.Sep.2021) — bp Trinidad and Tobago LLC (bpTT) confirms its Matapal project has safely achieved first gas. The major milestone was achieved ahead of schedule and under budget despite the constraints brought about by the COVID-19 pandemic. Matapal is bpTT’s second subsea development. It’s comprised of three wells, which […]
bp EVP Emphasizes Commitment To Trinidad
(bpTT, 8.Sep.2021) — Dev Sanyal, executive vice president Gas and Low Carbon Energy, bp – has emphasized bp’s commitment to the continued development of its Trinidad and Tobago business. Sanyal had a virtual meeting with Minister of Energy and Energy Industries the Hon Stuart Young on Sept 7. Sanyal took […]
Atlantic LNG In Make-or-break Talks
(Argus, 8.Sep.2021) — Trinidad and Tobago’s beleaguered LNG producer Atlantic is working with the government on a restructuring to ensure its commercial viability, major shareholders Shell and BP told Argus. The 14.8mn t/yr Atlantic complex at Point Fortin is beset by a chronic feedstock shortage that led to the mothballing […]
Should NGC Buy Train 1?
(Trinidad Express, 10.Aug.2021) — In its 2021 annual report, the T&T Government’s investment holdings company, National Enterprises Ltd (NEL) states that “the full impairment of the Train 1 plant at Atlantic LNG” resulted in the fair value of NEL’s shareholding in Train 1 being written down from the value of […]
Former Trinidad Oil Minister Ramnarine Comments On S&P Downgrade
(Energy Analytics Institute, 6.Aug.2021) — Trinidad and Tobago’s former energy minister Kevin Ramnarine commented on the recent downgrade by Standard and Poor’s rating agency. What follows below are his comments from a recent LinkedIn post: “T&T has been downgraded by S&P four times in the last six years. When we […]
bpTT: Gas Forecast ‘Subject To Change’
(Trinidad and Tobago Newsday, 29.Jul.2021) — Energy company bpTT on Wednesday expressed concern and disappointment over a newspaper report which claimed there would be a major shortfall in natural gas production and that it had told the Government not to count on it. In a statement, bpTT said the article […]
LatAm Briefs: Argentine Output, Colombian Renewables
(Energy Analytics Institute, 22.Jul.2021) — Energy briefs from the Latin America and Caribbean region including: daily production details from Argentina’s NeuquĂ©n region to 13 renewable projects identified by Colombia’s Ecopetrol and more. Argentina — Daily production in Argentina’s NeuquĂ©n region reached a record 193,000 barrels per day, the highest volume […]
bp Acquires AI-driven Open Energi
(bp, 22.Jul.2021 ) — bp acquired UK-based digital energy business Open Energi. The company’s digital platform uses real-time data to optimise the performance of energy assets. It can generate savings and maximise revenues for customers by connecting to power markets and providing flexibility at times of low renewable generation and […]
BP: No Gas For Train 1
(Trinidad Express, 19.Jul.2021) — Energy major BP said there is no “ongoing fight” between itself and the minority shareholder of Atlantic, Royal Dutch Shell. In a statement issued late yesterday, responding to an Express story, the London-based energy company said it has been working closely with the other Atlantic LNG […]
Big Energy Fights Over Atlantic
(Trinidad Express, 18.Jul.2021) — No definitive decision has as yet been taken to mothball Atlantic Train I, industry insiders have said. According to these insiders, reports of the plant being mothballed should be seen as part of the ongoing fight between BP and Royal Dutch Shell, two of the world’s […]
bp To Send Carbon Offset LNG To EnergĂa Costa Azul
(bp, 16.Jul.2021) — bp Gas Marketing Limited (bpGM), Sempra LNG and Infraestructura EnergĂ©tica Nova, S.A.B. de C.V. (IEnova), entered into a contract for the delivery and receipt of the companies’ first carbon offset Liquefied Natural Gas (LNG) cargo. The cargo is expected to be delivered to the EnergĂa Costa Azul (ECA) terminal […]
bpTT’s Fitzpatrick At The Climate Change Symposium
(bpTT, 17.Jun.2021) — bpTT’s Claire Fitzpatrick spoke at the Climate Change Symposium held on 14 June 2021. What follows is her full speech. Carbon Commitments and the Future for the Energy Sector Honourable Bridgid Annisette-George, MP Speaker of the House, Trinidad and Tobago Parliament Members of Parliament of Trinidad and […]
bp And Cemex Join Up On Net-Zero Emissions
(bp, 13.May.2021) — bp and Cemex, S.A.B. de C.V. (NYSE: CX) will work together on accelerating the progress of Cemex’s 2050 ambition to deliver net-zero CO2 concrete globally. Highlights: — bp and Cemex aim to develop solutions to decarbonize the cement production process and transportation. — Cemex and bp have aligned ambitions […]
LatAm Briefs: IPD On Sanctions On Venezuela, bp’s Looney On Transformation
(Energy Analytics Institute, 4.May.2021) — Energy briefs from the Latin America and Caribbean region including: IPD Latin America’s Managing Director David Voght on US’ sanctions on Venezuela and bp’s CEO Bernard Looney on the company’s evolution from an IOC to an IEC. IPD’s David Voght On US’ Sanctions On Venezuela […]
Day 1: Energy Efficiency And Renewables Event Trinidad
(Energy Analytics Institute, 1.Feb.2021) — The Energy Efficiency and Renewables Conference 2021 hosted by the Energy Chamber of Trinidad and Tobago was broadcast virtually from 1-3 February 2021 from Trinidad. Keys details from Day 1 follow. DAY 1 Comments From Trinidad And Tobago’s Minister Of Energy And Energy Industries Franklin […]
bp’s Claire Fitzpatrick At Energy Efficiency Event 2021
(bp, 2.Feb.2021) — bp’s Trinidad and Tobago head Claire Fitzpatrick presented at the Energy Chamber’s Energy Efficiency and Renewables Conference 2021 in Port of Spain. Presentations at the conference came from virtual locations as well as some in person. What follows is her keynote speech. Thank you Dax – All protocols […]
Egypt Signs 9 New Deals For Oil And Gas Exploration
(Arab News, 3.Jan.2021) — The Egyptian Ministry of Petroleum and Mineral Resources has signed nine new petroleum agreements to search for petroleum and natural gas in the Mediterranean and the Red Sea with six major international and Egyptian companies. Egyptian Minister of Petroleum Tarek El-Molla said that the ministry reached […]
Trinidad’s LNG Output To Drop More On Gas Deficit
(Argus, 8.Dec.2020) — Trinidad and Tobago’s faltering LNG production will decline further in 2021 when 20pc of Atlantic’s liquefaction capacity undergoes an indefinite turnaround because of a natural gas shortage. Atlantic’s 3mn t/yr Train 1 will not be completely shut down in January, but the turnaround will put it “in […]
Petronas Announces First Gas In Oman’s Ghazeer Field
(Petronas, 12.Oct.2020) — Petronas through its subsidiary, PC Oman Ventures Ltd (PCOVL) together with its partners, BP Exploration (Epsilon) Limited and Makarim Gas Development LLC, a subsidiary of OQ, today announced the start of production from its Ghazeer gas field (Phase 2), located in Block 61, Sultanate of Oman, three […]
bpTT Initiates Galeota Expansion Project
(bpTT, 2.Oct.2020) — bp Trinidad and Tobago LLC (bpTT) announced the safe start-up of the Galeota expansion project (GEP). The project has been under construction since late 2016 and was started up on 28 September 2020. Its completion is a major milestone for bpTT. The Galeota Terminal is core to […]
Colombian Oil Major Reports Surprise Profits
(Oilprice.com, 12.Aug.202) — The March 2020 oil price crash and COVID-19 pandemic has hit the global energy sector hard. In response oil companies are slashing capital spending, driving down costs and shuttering uneconomic operations. The key goals being to preserve cash flow, shore-up balance sheets, protect dividend payments and retain […]
Mexico’s Lopez Wants Plan To Execute Energy Vision
(Reuters, 11.Aug.2020) — Mexico’s president has given officials until late September to craft a plan to reassert state control over the energy industry as an alternative to constitutional change to achieve the same goals, according to three people familiar with the matter. President Andres Manuel Lopez Obrador on July 22 […]
Total, BP And ENI Make New Gas Find Offshore Egypt
(Reuters, 28.Jul.2020) — French oil company Total said on Tuesday that, along with its partners BP and ENI, it had made a gas discovery at a well off the coast of Egypt. Total said the discovery had been made at the Bashrush well on the North El Hammad licence, located […]
bpWE To Buy Full Ownership Of Fowler Ridge 1 Wind Asset
(bpWE, 16.Jul.2020) — bp Wind Energy (bpWE) agreed to acquire the remaining 50% interest in the bp operated, Fowler Ridge 1 wind asset from its current partner, Dominion Fowler Ridge Wind, LLC, a Dominion Energy subsidiary. Located in central Indiana, the asset includes 162 wind turbines with a generating capacity […]
Eni Reports New Gas Discovery Offshore Egypt
(Eni, 1.Jul.2020) — Eni has successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush. The discovery further extends to the west the gas potential of the Abu Madi formation reservoirs discovered and produced […]
BP Licenses PTA technology To Dongying Weilian
(BP, 28.May.2020) — Weilian Chemical is a subsidiary of Dongying United Petrochemical Co., Ltd, one of the leading manufacturers and distributors of petroleum and petrochemical products in China. Weilian Chemical intends to build a 2.5 million tonnes per annum PTA production unit at the Dongying Port Economic Development Zone in […]
Looney’s New Course For BP With Climate Targets
(WoodMac, 12.Feb.2020) — Speaking after BP’s new chief executive Bernard Looney unveiled the major’s ambitious climate commitments today, Luke Parker, vice president, corporate analysis, said: “BP joins Shell, Total, Equinor and Repsol in making a major commitment to reduce its net carbon footprint. “This marks a major turnaround in BP’s […]
Citgo Names Jack Lynch As Chief Compliance Officer
(Citgo, 11.Feb.2020) — Citgo Petroleum Corporation announced the appointment of Jack Lynch as the company’s new Chief Compliance & Ethics Officer. Lynch will continue to serve as the Vice President of Legal & Government Affairs, a role he has held since October 2019. As Citgo’s new Chief Compliance & Ethics […]
Fact Box: Atlantic LNG Trains
(Atlantic LNG, 10.Feb.2020) — Over our years of expansion, between 1999 – 2005, we first tripled the capacity of Train 1 with Trains 2 and 3, and then nearly doubled Train 1’s capacity with the construction of Train 4. The facility’s full capacity is 15 million tonnes per annum (mtpa) […]
Oceaneering Awarded Well Intervention Contract By BP
(Oceaneering, 10.Feb.2020) — Oceaneering International, Inc. announced the award by units of BP p.l.c., of a contract to provide comprehensive riserless light well intervention (RLWI) services offshore Angola in Blocks 18 and 31. The value of this meaningful award is reflected in our 31 December 2019 Subsea Products backlog. In […]
Politics Driving Shale Fluctuations In Argentina
(Argus, 8.Jan.2020) — Argentina’s shale fracturing hit a record in 2019 despite a deceleration sparked by political and economic uncertainty at the end of the year. A total of 6,425 hydraulic fractures were carried out last year in the Vaca Muerta formation, a 33pc increase from 4,825 in 2018, according […]
Politics Drives Shale Fluctuations In Argentina
(Argus, 8.Jan.2020) — Argentina’s shale fracturing hit a record in 2019 despite a deceleration sparked by political and economic uncertainty at the end of the year. A total of 6,425 hydraulic fractures were carried out last year in the Vaca Muerta formation, a 33pc increase from 4,825 in 2018, according […]
Petrobras Seeks Alternatives For Comperj
(Petrobras, 18.Dec.2019) — Petrobras has completed the economic feasibility study regarding the completion of the Comperj refinery construction, together with the Chinese company CNPC and its affiliates, under the agreements to implement the strategic partnership, as disclosed to the market on October 16, 2018. The study showed that the completion […]
Quality Testing Guyana’s First 3 MMbbls
(Demerara Waves, Denis Chabrol, 16.Dec.2019) — The Ministry of the Presidency’s Department of Energy denied breaching the procurement process for sale of Guyana’s first three million barrels of oil aimed at what officials say is the removal of impurities and setting of standard for Guyana to get the best price […]
Lightsource BP to Accelerate Global Solar Growth with Further Investment from BP
(Lightsource bp, 5.Dec.2019) — The management of Lightsource BP and BP have agreed to equalise their shareholdings in Lightsource BP to create a simplified 50:50 joint venture structure. As part of the transaction, BP will purchase newly-issued equity in the business to help accelerate Lightsource BP’s growth, supporting its ambitious drive towards […]