Tag Archives: British Petroleum Co. (BP)

Russia’s war in Ukraine will accelerate the shift away from oil and gas as countries around the world prioritize domestic renewable energy sources as a way to increase security of supply while also cutting carbon emissions. That’s the conclusion from the latest annual energy outlook from the economists at BP. …

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in …

Equinor and bp jointly bid into New York’s third offshore wind solicitation (NY3) today. Equinor and bp’s bid, submitted to the New York State Energy Research and Development Authority in response to the state’s most recent offshore wind energy solicitation, would provide New York with renewable energy from the Beacon …

United Arab Emirates renewable energy company Masdar, state oil firm Abu Dhabi National Oil Company (ADNOC) and oil major BP, reports Reuters. BPL agreed to conduct a joint feasibility study on exploring the production of sustainable aviation fuel (SAF) in the UAE, Masdar said in a statement on Friday. The …

Moving in lockstep with the Biden Administration’s calls for U.S. oil and gas companies to expand production, London-based BP Plc has unveiled plans to boost spending in the American oil heartland by over 40% this year. On Wednesday, BP said it would raise onshore oil and gas investment in the …

UK-headquartered energy giant BP has completed the acquisition of Archaea Energy, a Texas-based renewable natural gas (RNG) company. Archaea Energy operates 50 RNG and landfill gas-to-energy facilities across the U.S., producing around 6,000 barrels of oil equivalent a day (boe/d) of RNG. Its production would be expected to provide an …

BP is paying more tax as it is making more profit, its UK head Louise Kingham told the Reuters Energy Transition Europe 2022 event on Wednesday. “It’s right that (the government) should think about how they protect the most vulnerable and taxation is not for companies to determine,” Kingham said. …

BP has agreed to buy U.S. renewable gas producer Archaea for $4.1 billion to help the British oil giant reach net zero carbon emissions by 2050. The London-listed energy major is flush with cash after recent surges in oil prices that have triggered calls for the cash-strapped U.K. government to …

Italy’s Eni has signed a deal to acquire BP’s upstream business in Algeria, including stakes in two gas-producing concessions, for an undisclosed sum. The deal covers BP’s 45.89% stake in the ‘In Amenas’ concession and a 33.15% interest in the ‘In Salah’ concession. Eni expects the acquisition to strengthen its …

BP is still in the process of assessing when a restart of the affected units of its Whiting refinery can take place, BP told Oilprice.com on Friday. BP continues to work “with local and state agencies as we continue to monitor the impact” of the electrical fire, which saw no …