Baker Hughes has secured a long-term service agreement award from bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. This comprehensive 90-month agreement covers spare parts, repair services, and field service engineering support for critical turbomachinery at the facility including heavy-duty gas turbines, steam turbines and compressors for three LNG trains.
Midwest refiners are closely watched by traders due to the concentration of capacity and limited pipeline outlets. Unplanned disruptions at Whiting in past years have quickly affected wholesale gasoline prices in Chicago and neighboring hubs, according to the U.S. Energy Information Administration (EIA).
Second-quarter financial reporting season is over and it has revealed two things. First, that Big Oil’s recovery from its energy transition experiment is still ongoing and that European supermajors have yet to catch up with their American sector players—on production and earnings alike.
“The Argos expansion underpins our commitment to investing in America, growing our US offshore energy production safely and efficiently,” Andy Krieger, BP’s senior vice president for the Gulf of America and Canada, said. “This project also kicks off a period of significant growth for BP in the Gulf of America, which will continue to play a critical role in delivering secure and reliable energy the world needs today and tomorrow”.
The UK-based firm said on Monday that it is conducting tests at the site in deep water off Brazil’s east coast. The discovery could play a major role in BP’s plans to increase crude oil production.
“The Argos expansion underpins our commitment to investing in America, growing our U.S. offshore energy production safely and efficiently,” said Andy Krieger, SVP Gulf of America and Canada. “This project also kicks off a period of significant growth for bp in the Gulf of America, which will continue to play a critical role in delivering secure and reliable energy the world needs today and tomorrow.”
Chief Executive Officer Murray Auchincloss reset BP’s strategy in February by promising to refocus on oil and gas after years of failed low-carbon investments. Other supermajors had recommitted more quickly to the hydrocarbon-focused strategies that fed their profits.
Azule Energy, a joint venture owned equally by bp Plc and Eni SpA, have announced a major gas discovery at its Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola.
bp Plc said it expects to report rising production and a strong result from its oil trading business for the second quarter, offering a boost for the energy major struggling to reverse years of underperformance.
Production for the three months through June is now expected to be higher compared with the first quarter, the London-based company said in a statement on Friday. That’s up from earlier guidance for it to be broadly flat. Output had slipped in the first three months of the year. It will report earnings for the period on Aug. 5.
“The transaction includes around 300 bp-owned or branded retail sites – some with on-site EV charging infrastructure – as well as 15 operational bp pulse EV charging hubs, eight under development and the associated Dutch fleet business”, a joint statement said. BP Pulse is BP’s multinational electric vehicle charging business.