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BP reached an agreement today to purchase 9GW of solar development projects in the US from independent US solar developer 7X Energy for $220 million. The acquisition is a step towards BP’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030.The deal will also grow BP’s renewables pipeline from 14GW to 23GW.
BP has started a recruitment campaign for the people who will drive its expanding clean energy ambitions. The London-based oil and gas company is looking to fill 100 offshore-wind jobs in the UK and the U.S., a figure which could double by the end of the year. The recruitment drive comes even as thousands of other employees have left the company amid a wider restructuring.
BP Plc and Eni SpA are considering merging their Angolan oil, gas, and liquefied natural gas assets into a joint venture in a bid to revive output following years of decline. The companies’ Angolan assets together produce more than 200,000 barrels of oil equivalent a day, BP and Eni said in a statement on Wednesday. Merging them would bring “significant opportunities” to “boost future developments” and increase investment in the basin, they said.
Petrofac secured a contract with bp to develop operational procedures for their Greater Tortue Ahmeyim (GTA) Project in Mauritania and Senegal. Centered on minimizing risk and harm to personnel, plant, and the environment, the procedures will encompass all offshore operations, including subsea, floating production storage and offloading (FPSO), and hub.
OGUK today announced the details of its Annual Conference. The three-day virtual conference entitled ‘Industry in Transition: Driving A Net Zero Energy Future' will take place online between June 1-3, 2021. BP CEO Bernard Looney will speak on day one of the conference, with OGUK Chief Executive Deirdre Michie expected to restate the UK sector's commitment to supporting jobs now and through a green recovery.
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74 per cent of total energy demand by 2050, compared to 43 per cent, 45 per cent and 69 per cent in the most aggressive scenarios from energy firms Equinor, Shell and BP.
New Delhi: Reliance Industries Ltd and its partner BP Plc of UK have sought bids for sale of 5.5 million standard cubic meters per day of additional natural gas that will be available for sale from their eastern offshore KG-D6 block. The e-auction is slated for April 23 and the gas supply will start from late April or early May, according to the tender document.
BP eked out modest profit, but was just fraction of typical pre-pandemic levels. Cash flow, which failed to cover dividends and capital expenditure despite deep cuts to both, raised questions about company’s ability to sustain investor returns. Shares fell 4%. BP’s fourth-quarter net income was $115million, down from $2.57billion year earlier. Company fell short of average analyst estimate of $440million.
Neptune Energy and its joint venture partners bp and JAPEX, announced drilling has commenced on Seagull project in the UK Central North Sea. The Gorilla VI (JU-248) jack-up rig, operated by Valaris, will drill four wells for development over the course of drilling campaign which is expected to last 18 months. Seagull is expected to produce 50,000 boe/day (gross).
A few days ago, Reliance Industries Limited (RIL) and BP announced the start of production from the R Cluster. It is an ultra-deepwater gas field in block KG D6 off the east coast of India. it is located at a depth of more than 2,000 meters, making R Cluster the deepest offshore gas field in Asia. RIL and BP are developing three deepwater gas projects in block KG D6.
BP plc decided to shut Australia's biggest refinery. After the decision was made Exxon Mobil Corp persuaded the Australian government to provide some backing to oil refineries for continuous run. The Australian government has initiated to offer $1.6 billion in incentives to the refining industry for over 10 years to secure the nation's fuel security.
Recently at the Indian Energy Forum, BP Plc announced its plan to extend its business in India along with its major partner Reliance Industries Ltd. This is the third joint venture between Reliance and BP Plc with 51% and 49% shares respectively. Another attendee, TOTAL SE also stated that they find India as the largest market in the world of energy and is investing to set major energy projects in India.
French oil company Total, along with its partners BP and ENI, it had made a gas discovery at a well off the coast of Egypt. The discovery had been made at the Bashrush well on the North El Hammad licence, located eleven kilometres (6.8 miles) off the Egyptian coast. ENI and BP both have 37.5% stakes in the North El Hammad licence, while Total has a 25% stake.
Oil supermajor, bp Plc has informed about concluding the sale of its Prudhoe Bay oil and gas producing assets to Hilcorp Energy, ending a 60-year streak of being the top Alaskan oil producer. The $5.6 billion deal, which also includes bp’s stake in the Trans Alaska Pipeline System, is estimated to wrap up this quarter, both companies said in statements.
bp has announced that it will write-down $17.5 bn worth of assets in the wake of coronavirus crisis, the biggest writedown on the value of its business since the Deepwater Horizon disaster a decade ago. After a revision, the British giant cut its estimates for oil and gas prices in the coming decades between 20% and 30%. It also expects the cost of carbon emissions to be twice as high as before.
British energy giant bp on Monday announced plans to axe "close to 10,000" jobs, or almost 15 percent of its global workforce, after the coronavirus pandemic slashed demand for oil. "We will now begin a process that will see close to 10,000 people leaving BP -- most by the end of this year,", Chief Executive, Bernard Looney said in an email to its 70,000 staff seen by media.
bp Plc began shutting down production at three platforms in the northern Gulf of Mexico and evacuating workers, in preparation for the Tropical Storm Cristobal. The storm is forecasted to make landfall in Louisiana over the weekend. bp is reducing production at its Thunder Horse, Atlantis and Na Kika platforms. Non-essential workers are being pulled from the Mad Dog platform, but production is not being cut back.
Bluware has landed an AI deal with British oil major bp. Bluware had entered into an agreement with bp to improve its ability to interpret seismic data. Financial terms remain undisclosed. Large seismic data sets are difficult to move and use in workflows. The interpretation of these data sets is also time-consuming. Using this tool, geoscientists can interactively train and correct deep learning results, thereby, improving structural interpretation workflows.