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
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.