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Oil&Gas Drilling
Aker BP Postpones Oil Developments Amid Market Turmoil
The company has suspended all oil and gas development projects that have not yet received board approval because of the coronavirus-related plunge in crude pric…
Crude Oil
BPCL Kochi Refinery Takes Steps to Maintain Petroleum Products Supply
Although the COVID 19 outbreak hit demand for gasoline, diesel, fuel oil, asphalt, aviation turbine fuel (ATF) and other petroleum products.
Shell Looks To Become Net Zero Energy Company By 2050
Oil supermajor Shell announced on Thursday its ambition to become a net-zero emissions energy business by 2050 at the latest, joining other majors such as BP an…
Oil&Gas Drilling
Non OPEC+ Crude Oil Supply Cuts
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd).
Crude Oil
Opec+ Plans to Cut Output by 20mn bpd: Trump
Top global oil producers are considering slashing output by 20mn barrels a day under the terms of a deal to boost prices, US President Donald Trump said on Mond…
Solar Power Plant
Lightsource BP Secures 20-Year PPA for 132 MW Solar Project
The Conway Corp Board of Directors approved a 20-year PPA with Lightsource BP for the development of a 132 MWdc solar energy project in White County, Ark.
Crude Oil
Mexico to Cut Oil Output by 100,000 Bpd from May: Officials
Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels…
Solar Power Plant
Conway Corp and Lightsource BP Announce 132 Megawatt Solar Project
Lightsource BP will finance, build, own and operate the facility and will deliver the solar energy it generates to Conway Corp under the fixed-rate power purcha…
Crude Oil
Global Oil Producers Agree On Joint 10 Million Bpd Output Cut
OPEC has succeeded. On Thursday, the OPEC++ group agreed, in principle, to cut 10 million bpd in oil production, according to media. But will it be enough? Toda…
LNG
BP Issues Force Majeure to Golar Over Tortue Ahmeyim LNG Project
BP is seeking to delay by a year the reception of a floating liquefied natural gas facility at the Tortue Ahmeyim project in Africa.
Oil&Gas Drilling
Government Admits BP Drilling Permit Process was Unlawful
The government admits it acted unlawfully in granting BP’s permit to drill for new oil in the North Sea, a Greenpeace legal challenge reveals, after officials …
Market Analysis
Oil Industry Joins The Fight Against Coronavirus
The supermajor is also offering free food and drink to healthcare professionals at 15,000 retail outlets globally as well as to truck drivers and delivery perso…
BP is Pulling Out of Three Trade Groups Over Climate Policies
BP is withdrawing from three trade groups over climate policies, a move that comes after the company vowed to reach net-zero carbon emissions by 2050.
Crude Oil
BP Reduces Investment Plan by 25% in 2020 to US$12bn
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity.
Crude Oil
World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd
A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomber…
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