BP has awarded a multi-million subsea riser contract to UK-based Aquaterra Energy, a leader in global offshore engineering solutions, for a subsea well development project located in Trinidad and Tobago. According to the contract, Aquaterra Energy will provide a complete end-to-end managed service as a fully independent riser system and connector OEM. The contract will […]
BP
Posted inNews
Angry shareholders slam BP’s climate plans
Energy giant BP on Thursday faced heavy criticism from shareholders over its decision to slow its energy transition, with activist investors promising to block the re-election of the head of the board of directors. Some of Britain’s biggest pension funds have warned that they will oppose the renewal of Helge Lund’s mandate at the annual […]
Posted inNews
bp wins new exploration blocks in Egypt’s offshore Nile Delta
bp has been awarded two exploration blocks offshore Egypt by the Egyptian Natural Gas Holding Co, bp said in a press release. The northwest Abu Qir offshore area – in which bp holds 82.75% and Wintershall-Dea holds 17.25% – covers an area of approximately 1038 square kilometres with water depths ranging between 600 metres and […]
Posted inClimate
Oil majors’ climate scenarios incompatible with Paris Agreement, report finds
Climate pledges made by BP, Shell and Equinor don’t align with Paris Agreement goals, a new report shows
Posted inEarnings, DRILLING & PRODUCTION
Big Oil, US shale companies report bumper second-quarter profits
Soaring energy prices and strong demand recovery has boosted Big Oil’s profits, which have exceeded estimates
Posted inEnergy Transition
ADNOC acquires 25% stake in bp’s blue hydrogen project marking its first investment in the UK
bp has inked an investment deal forming a strategic partnership with ADNOC and Masdar for its planned blue and green hydrogen projects
Posted inNews
Oil prices likely to go higher as IOCs quit Russia: Experts
International oil majors have been exiting investments in Russia following the country’s invasion of Ukraine
Oil giants have been exiting their investments in Russia after the country initiated military action in Ukraine. The conflict has caused oil prices to soar as fears have increased regarding supply shortages. The exit from international oil firms is likely to cause prices to continue to rise, experts said. “Oil giants are mostly falling in […]
Posted inNews
bp to exit 19.75% shareholding of Rosneft amid Russia-Ukraine crisis
Both of bp’s nominated directors will resign from Rosneft’s board with immediate effect
UK energy giant bp announced Sunday that it would be exiting from its 19.75 percent shareholding in Rosneft following Russia’s military action in Ukraine. bp CEO Bernard Looney and bp group chief executive Bob Dudley will both also be resigning from the board of Rosneft with immediate effect. Russia’s action in Ukraine has “led the […]