BP Plc anticipates strong growth in the U.S. as President-Elect Donald Trump improves regulations on the oil and gas industry just as artificial intelligence boosts energy demand.
NCMA 2, located around 48 kilometres off Trinidad’s north coast and lying in water depths of around 200 metres, opens a new area of exploration for the energy giant in the country, as all of its current production comes from the Columbus Basin off Trinidad’s east coast.
Egyptian Minister for Petroleum and Mineral Resources, Karim Badawi, has met with BP’s Executive Vice President of Gas & Low Carbon Energy William Lin to review the company’s latest activities in Egypt including the exploration and production for natural gas.
BP has reported an underlying replacement cost (RC) profit, proxy for net profit, of $2.26bn in the third quarter of 2024 (Q3 2024), a 31.1% drop from $3.29bn during the same period in 2023.
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.
BP has completed a seismic campaign at a key Trinidad-Venezuela cross-border gasfield, the Trinidad and Tobago energy ministry said on Monday.
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