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BP halts exploration activities off Uruguay and targets lower-risk projects

Tuesday, August 4th 2015 - 10:04 UTC
Full article 8 comments

British oil major BP has halted its deepwater exploration activities off Uruguay as it prioritises lower-risk projects at a time of low international prices, an official at Uruguay's state-owned oil company Ancap said on Monday. Read full article

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  • paulcedron II

    “....and targets lower-risk projects”

    yeah, right...
    lower risk until bp puts its hands there.
    then will be a ultra high risk project.
    risk to explode like a bomb.

    british + technology = monkey + jackknife

    Aug 04th, 2015 - 12:37 pm - Link - Report abuse 0
  • FI_Frost

    @1 LOL

    You - and your like - experience something we never have to: a severe inferiority complex.

    Must be tiring been constantly outdone over the centuries, and still very much looked down on and laughed at by “the filthy ingrissh [pig dog swine]!” You're like a character out of a Monty Python sketch, only real and much funnier. Keep it up please.

    Aug 04th, 2015 - 02:23 pm - Link - Report abuse 0
  • ilsen

    @1
    You're a little sore today.
    Did Mummy take away your sweeties?
    Or can't she afford them anymore?
    Maybe you should go and collect some more cardboard, you know, help out a bit?

    PS: The article above is discussing Investment Risk, not technological or environmental risk. Doh!
    Paulie reading comprehension + internet = Fail!

    Aug 04th, 2015 - 02:27 pm - Link - Report abuse 0
  • Conqueror

    @1. Just to remind you, Uruguay had plans for major infrastructure projects. If BP is pulling out, no doubt other oil companies will be doing the same. That'll be people like BG Group, Total and Shell.

    But then you people never care a lot about your Uruguayan “brothers”, do you? Always trying to damage its economy. Always bullying and browbeating. Always cheating.

    Aug 04th, 2015 - 05:24 pm - Link - Report abuse 0
  • ChrisR

    This was always a risk and it has turned out poorly for Uruguay.

    ANCAP is run by a complete bunch of wankers and under the present Veep, who was the CEO of ANCAP at the time, managed to misplace U$D 300M from the accounts: he didn't know what had happened to it!

    Yeah, like that will fly.

    I just hope the old guy Vasquez manages to live through the presidency otherwise we will have this crook as president!

    Aug 04th, 2015 - 05:27 pm - Link - Report abuse 0
  • ilsen

    Oh, hasn't paulie been back?
    I was hoping he might actually read and understand the article, rather than just shooting his mouth off and running away.
    Maybe I embarrassed him by pointing out that he had completely misunderstood the article.
    What a loser!

    Aug 04th, 2015 - 06:32 pm - Link - Report abuse 0
  • Demantoid Garnet

    BP's move regarding the Uruguay resources is going to be based on rather simple economic cost & risk vs. expected returns math. Deepwater work is always more expensive and difficult, and when you need to manage cash flow (particularly in times of low petroleum prices), the simpler, easier locations make more sense. This has nothing to do with Uruguay, it's all about geology and economics.

    Rest assured, BP conducted substantial research of the area, and the math just didn't work out at this time.

    Aug 04th, 2015 - 10:11 pm - Link - Report abuse 0
  • ilsen

    Nice summary DG.

    Aug 05th, 2015 - 10:33 am - Link - Report abuse 0

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