BP starts oil production at West Chirag platform off Azerbaijan January 29, 2014 FTSE 100-quoted BP yesterday said that oil production has started at the West Chirag platform of the Azeri-Chirag-Gunashli (ACG) development in the Azerbaijan sector of the Caspian Sea. Start-up of the platform completes the $6bn (£3.6bn) Chirag Oil Project, which was given the go-ahead in 2010. Over $4bn has been spent on the project, with [...]
BP forecasts shale boom will transform the energy market January 15, 2014 GLOBAL energy consumption will rise by 41 per cent by 2035, with 95 per cent of that growth in demand coming from emerging markets, research from oil major BP predicted yesterday. But energy use in developed markets is expected to grow very slowly and will begin to decline in the later years of the forecast [...]
Former BP engineer to appeal oil spill charge December 18, 2013 A FORMER BP senior engineer found guilty of destroying evidence in relation to the Gulf of Mexico oil spill is planning to appeal the conviction, it emerged yesterday. The engineer, Kurt Mix, was found guilty of one of two counts of obstruction of justice at a federal court in New Orleans, after he was accused [...]
UK government backs BP in US federal dispute December 3, 2013 THE UK government has backed oil giant BP in its dispute over the US government’s decision to suspend all of the oil major’s federal contracts after the Deepwater Horizon disaster. “This is a straightforward economic argument – BP is vital to British jobs and British pension funds; businesses need certainty to operate and invest,” a [...]
BP signs a key oil trade deal with Rosneft November 12, 2013 RUSSIAN oil behemoth Rosneft said yesterday is plans to sell about $6bn (£3.7bn) worth of refined products to BP, establishing the British firm among its biggest buyers after years without any such deal. The latest transaction comes on top of a $5.3bn deal for BP to buy crude, agreed earlier this year. Both came only [...]
BP results beat forecasts as it hikes dividend October 29, 2013 OIL MAJOR BP rose to the top of the FTSE 100 yesterday, after third-quarter results beat expectations and a dividend hike pleased investors. The firm posted underlying net profit of $3.692bn (£2.3bn), up from $2.712bn the previous quarter and higher than analysts’ consensus forecasts of $3.17bn. BP is increasing its quarterly dividend by 5.6 per [...]
London Report: FTSE rises on BP strong figures and a dividend October 29, 2013 BRITAIN’S top share index climbed to a five-month high yesterday, with investors flocking to buy energy stocks after strong results from BP raised expectations for earnings from the sector. BP was the top-performer on the blue-chip FTSE 100 index, surging 5.6 per cent after the company announced forecast-beating profits, a dividend hike and plans to [...]
BP’s man in Russia lives to fight again July 9, 2008 The Kremlin, BP and four Russian moguls all want control of TNK-BP. Roger Baird reports. The embattled chief executive of BP’s Russian joint venture TNK-BP, Robert Dudley, survived an attempt by its Russian billionaire partners to remove him on Monday – but he will have to do it all over again on Friday. The screws [...]
BP weathers storm havoc October 26, 2005 Oil giant BP’s third-quarter rise in underlying profit was largely unaffected by summer hurricane damage in America, leaping 27.5 per cent, the company revealed yesterday. The company’s underlying profit, driven by high barrel prices and strong refining margins, rose to $5.33bn (£2.98bn). The company said it owed its strong underlying performance to “high but volatile” [...]