Tag Archives: British Petroleum Co. (BP)

Global oil demand continues to surprise on the upside, BP Plc  Chief Executive Murray Auchincloss told the Energy Intelligence forum in London on Monday, saying that oil demand kept rising on average by more or less 1% each year, with BP predicting robust oil consumption for the next 5-10 years. …

BP has struck a deal to develop a natural gas field in Indonesia, complete with a carbon capture system. The deal’s value is seen at $7 billion, with resources to be tapped estimated at 3 trillion cubic feet. “This project not only unlocks a fantastic gas resource, it also represents …

BP has struck a deal to develop a natural gas field in Indonesia, complete with a carbon capture system. The deal’s value is seen at $7 billion, with resources to be tapped estimated at 3 trillion cubic feet. “This project not only unlocks a fantastic gas resource, it also represents …

European oil and gas supermajors BP, Equinor, Shell, and TotalEnergies are committing a joint investment of $500 million to help ensure access to affordable, reliable, sustainable, and modern energy for all. The joint investment commitment is part of the energy majors’ efforts to support promising, high-impact projects, primarily in Sub-Saharan …

BP and Shell are expected to post lower profits this week as the supermajors grapple with weak oil prices and a global slowdown in demand. BP is due to publish its third-quarter earnings on Tuesday, while Shell will report its results on Thursday. Earlier this month, the FTSE 100 firms …

In February 2020, then-brand-new chief executive Bernard Looney told the world that one of the oldest and biggest oil companies in the world was going to become a net-zero company by 2050. To achieve this, it would slash its oil and gas production by 40% by 2030. Four years and …

BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 …

British oil and gas multinational BP Plc (NYSE:BP) has announced plans to sell its onshore wind business in the U.S., saying the business is not aligned with its growth plans as it seeks to focus on its Lightsource BP solar partnership. The company says it will launch the sale process …

BP has signed a deal with US space agency NASA which could see its technology used on Mars or the moon in future. Under the agreement, BP America and NASA will share digital technologies and technical expertise from “decades of experience operating in harsh environments”. This includes digital models and …

BP will team up with the government of Iraq to rehabilitate and develop four oil and gas fields in the northern region of Kirkuk. The two sides signed a preliminary agreement to that effect this week. The deal follows another one, signed in 2013, for the development of the giant …