Tag: British Petroleum

Tuesday, August 5th 2025 - 11:16 UTC
BP announces huge discovery off Rio de Janeiro

BP, the British oil and gas company, has announced its largest oil and gas discovery in 25 years, in the Boomerang Field, an area over 300 square kilometers within Brazil's Santos Basin, roughly 404 kilometers off the coast of Rio de Janeiro.
Wednesday, November 1st 2023 - 21:23 UTC
BP third quarter profits lower than expected

British Petroleum posted profits of US$ 3.3bn (£2.7bn) between July and September, lower than predictions of US$ 4bn. Earnings were down from US$ 8.1bn in the same period in 2022 when BP made huge profits following Russia's invasion of Ukraine, which led to oil prices soaring.
Tuesday, November 29th 2022 - 10:19 UTC
BP awarded contract by Guyana to market its share of oil from two platforms

UK's British Petroleum has been awarded a contract to market Guyana's share of oil produced at the Liza Destiny and Liza Unity platforms, reports Oilprice. With 11 billion barrels found to date, Guyana is home to one of the largest oil discoveries over the last decade.
Thursday, September 14th 2017 - 06:53 UTC
BP and Bridas Corporation form Argentina's largest private integrated energy company

British Petroleum has agreed with Argentina's Bridas Corporation to form a new integrated energy company by combining their interests in the oil and gas producer Pan American Energy and the refiner and marketer Axion Energy in a cash-free transaction. The new company, Pan American Energy Group, will be the largest privately-owned integrated energy company operating in Argentina.
Saturday, November 26th 2016 - 12:43 UTC
BP buys into Egypt's super giant Zohr gas field, the largest in the Mediterranean

BP announced on Friday that it has agreed to buy from Eni a 10% interest in the Shorouk concession offshore Egypt, which contains the super-giant Zohr gas field, for US$375 million. On closing, BP will also reimburse Eni for BP's share of past expenditure. As part of the agreement, BP also has an option before the end of 2017 to buy a further 5% interest in the concession under the same terms.
Thursday, September 15th 2016 - 09:57 UTC
BP “really encouraged” by Argentina, interested in increasing investments

British Petroleum is looking to increase its investments in Argentina after seeing “tremendous change” in the country since President Mauricio Macri took office nine months ago, CEO Bob Dudley said on “Bloomberg Markets” this week. Argentina just “feels different,” Dudley told Bloomberg's Erik Schatzker at the inaugural Argentina Business Investment Forum in Buenos Aires.
Wednesday, February 3rd 2016 - 05:38 UTC
BP reported its biggest annual lost and announced 7.000 job cuts

BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.
Tuesday, October 6th 2015 - 10:17 UTC
BP agrees to pay 20bn dollars to settle claims with Gulf of Mexico 2010 oil spill

Oil giant BP has agreed to pay $20bn to settle claims with the US stemming from the company's Deepwater Horizon oil spill. An explosion on BP's deep-water drill, off the coast of Louisiana in 2010 killed 11 workers.
Tuesday, August 4th 2015 - 10:04 UTC
BP halts exploration activities off Uruguay and targets lower-risk projects

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.
Friday, July 3rd 2015 - 07:38 UTC
BP agrees to a $18.7bn settlement on claims from the 2010 Gulf of Mexico spill

UK oil and gas giant BP said it has reached an $18.7 billion settlement of damages claims from the US government and five states after the 2010 Gulf of Mexico spill. The US Justice Department said it could be the largest settlement with a single entity in US history and the total value would top $20 billion.