Tag Archives: British Petroleum Co. (BP)

The world’s largest listed oil companies will have to cut production by at least 50 per cent over the next decade if the world is to limit global warming to 1.5 degrees as per the Paris climate accord, influential climate think tank Carbon Tracker has warned. In a new report, …

Oil company BP swung to profit in the second quarter amid higher oil prices and a broader recovery in the global economy this year after posting a loss in the same period a year earlier. The company earned $3.1 billion in the three months to the end of June, compared …

BP has commenced production from the East South flank, the new phase of its Shah Deniz II gas field in Caspian Sea offshore Azerbaijan. Planned to reach full production rates in the third quarter of this year, the deepwater flank has a production capacity of 400 million standard cubic feet …

BP company has announced the increase in production volume in the concession area, Block 61, from one billion cubic feet per day to one and a half billion cubic feet per day. A statement issued online by Oman News Agency (ONA), said: “BP company raised the volume of production in …

UK supermajor BP has agreed to join forces with Norway’s Statkraft and Aker Offshore Wind in a consortium bidding to develop offshore wind in the Sørlige Nordsjø II licence area off Norway. Sørlige Nordsjø II will be developed without government support. Norway plans to announce the auction in Q1 2022 …

Global oil demand is set to rebound and remain robust for some time, BP’s chief executive Bernard Looney told Bloomberg News on the sidelines of an economic forum in Russia, reiterating views expressed by most forecasters and analysts. “There is a lot of evidence that suggests that demand will be …

Oil majors are under growing pressure to stop drilling for crude to help curb climate change, but companies say they will wean themselves off fossil fuels at their own pace. The demand for change is coming from many sides: lawsuits, shareholders and the International Energy Agency have all turned up …

The five largest oil and gas companies recorded a cumulative revenue of $1.14 trillion in 2020, representing a loss of about 30.9% or $500 billion from the 2019 figure of $1.65 trillion, according to data acquired by Finbold. PetroChina’s last year revenue stood at $280.7 billion, a drop of 19.28% …

BP Plc has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the U.K. and the U.S., a figure which could double by the end of the year. The recruitment …

Oil giants Eni and BP have entered into a non-binding memorandum of understanding (MoU) to progress detailed discussions on combining their upstream portfolios in Angola, including all their oil, gas, and LNG interests in the country. The companies believe that combining their efforts in a new joint venture company would …