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Oceaneering Secures Multi-Year GTA Job from BP

Oceaneering will provide support for this contract using a multi-purpose vessel equipped with two of its work-class ROVs. The project will also involve management, engineering, and integration services delivered by Oceaneering’s local and international teams. Engineering and pre-mobilization activities have started, and field operations are anticipated to begin in the second quarter of 2025. The contract is initially set for three years, with two additional one-year extension options available.

Shell Studying Merits of BP Merger

Shell Plc is working with advisers to evaluate a potential acquisition of BP Plc, though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter.

The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks, the people said, asking not be identified because the information is private.

BP Faces Shareholder Showdown Amid Oil Price Crash

Shareholders, especially activist hedge fund Elliott, will want to make their position known at the AGM votes on Thursday. Activist investor Elliott, which has been pushing for dramatic changes at BP since amassing a 5% stake in the supermajor, is likely to express its continued frustration with BP’s performance by voting against the re-election of directors.

bp starts production from Cypre gas field, Trinidad and Tobago

bp Trinidad and Tobago (bpTT) today confirms its Cypre development has safely delivered its first gas.
bp’s Juniper rig, offshore Trinidad
Cypre is one of bp’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part of bp’s reset strategy to grow the upstream. Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day (boed) combined peak net production expected from these 10 projects.

BP cuts renewable investment and boosts oil and gas in strategy shift

BP cut planned annual investment in renewable energy businesses by more than $5 billion, from its previous forecast, to between $1.5 billion and $2 billion per year. It now aims to grow oil and gas production to between 2.3 million and 2.5 million barrels of oil equivalent per day (boepd) in 2030. It pumped 2.36 million boepd in 2024.

bp and Iraq finalize contract for Kirkuk oil field redevelopment

bp has received final government ratification for its contract to invest in the redevelopment of several giant oil fields in Kirkuk, in the north of Iraq.
The contract between North Oil Company (NOC), North Gas Company (NGC) and bp includes the rehabilitation and redevelopment of the fields, spanning oil, gas, power and water with potential for investment in exploration.