The oil giant’s new focus on fossil fuels signals another defeat for environmental, social and governance aims and has angered campaigners
British oil giant BP is abandoning its plan to cut back its oil and gas output and planning fresh fossil fuel investments, all while pushing for billions of dollars in government subsidies for climate technologies.
The Cypre gasfield is BP’s next major offshore gas development in Trinidad and Tobago. It will add up to 8.5 mcm (300 mcf) of daily production and bolster the contributions of the Corallita and Lantana fields to the domestic gas market.
TechnipFMC has been awarded an integrated EPCI contract for BP’s greenfield Kaskida development in the US Gulf of Mexico, Technip announced on Monday
BP has scrapped a previous target to reduce its oil and gas production by the end of the decade as the UK-based supermajor is pivoting back to its core hydrocarbons business to lift investor returns, Reuters reported on Monday, citing sources familiar with the plans.
During his visit to the UK, Minister of Petroleum and Mineral Resources Karim Badawi met with bp CEO Murray Auchincloss to discuss the company’s plans to accelerate exploration and production (E&P) activities in its Mediterranean concession areas. The meeting was also attended by William Lin, Executive Vice President of Low Carbon Energy Projects; Engineer Nader Zaki, Regional President of bp for the Middle East and North Africa; and Engineer Moataz Atef, Head of the Central Administration of the Technical Office and official spokesperson for the ministry.
SOCAR (State Oil Company of Azerbaijan Republic) and UK oil major BP have signed a memorandum of understanding (MoU) to explore potential collaboration opportunities in international oil and gas upstream projects. The partnership, focused on bolstering global energy security, underscores the companies’ commitment to a reliable and sustainable energy supply.
Transocean has been awarded a USD 232-million contract from BP for the Deepwater Atlas drillship to carry out works in the US Gulf of Mexico, the company said on Wednesday.
BP and EOG Resources have reached a final investment decision on the Coconut gasfield offshore Trinidad and Tobago, BP said earlier this week.
Two officials revealed on Tuesday that Iraq will split earnings with British Petroleum (BP), a British multinational oil and gas company headquartered in London, and boost the development of oil and gas reserves in the northern Iraqi governorate of Kirkuk.