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Tag: BP

Record High U.S. Crude Inventories Threaten Oil Rally

Anyone connected or exposed to the dynamics of the oil price must be wondering if the recovery in the oil price is sustainable and, indeed,…

KazMunayGas, BP to Conduct Joint Exploration in Kazakhstan

KazMunayGas (KMG) and British BP have identified subsoil plots and plan to get a contract for exploration and production of hydrocarbons in Kazakhstan, Dastan Abdulgafarov,…

BP Sells Global Petrochemical Business In $5 Billion Deal

As part of its plan to reinvent itself through the energy transition, BP has agreed to sell its global petrochemicals business to UK’s Ineos for…

China’s Emissions Jump By The Most Since 2011

China’s carbon dioxide emissions increased by 3.4 percent last year, higher than the ten-year average growth rate of 2.6 percent, BP’s Statistical Review of World…

BP faces hit of up to $17.5bn as it forecasts lower oil prices

BP has forecast lower oil prices for decades to come as governments speed up plans to cut carbon emissions in the wake of the coronavirus…

Iraq Asked BP to Cut Flow From Rumaila Oil Field by 10%

Iraq has asked BP Plc to cut crude production at the southern field of Rumaila by 10% as part of the nation’s push to comply…

BP Reduces 10,000 Jobs to End of Current Year

BP Plc will cut 10,000 jobs to save on costs in the pandemic and falling oil prices, The Financial Times writes. BP CEO Bernard Looney said in an address to employees…

SOCAR Becomes Technical Operator of South Caucasus Gas Pipeline

SOCAR Midstream Operations LLC has become a technical operator of the South Caucasus Gas Pipeline (SCP), BP-Azerbaijan said in a statement. “Since March 20, 2020,…

SOCAR and BP May Sign Production Sharing Agreement in Uzbekistan

SOCAR and BP may sign a Production Sharing Agreement (PSA) on investment blocks in Uzbekistan, the press service of the Uzbek Ministry of Energy reports….

Oil Production from ACG to Be 187 Million Barrels in 2020

Oil production from the block of Azeri-Chirag-Gunashli (ACG) fields will amount to 186.7 million barrels in 2020, the Accounts Chamber concluded on the budget of…

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