Thursday, October 18, 2018

Bp Plc News

Oil Majors Win Dismissal of New York City Climate Lawsuit

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A U.S. judge on Thursday dismissed a lawsuit by New York City seeking to hold major oil companies liable for climate change caused by carbon emissions from burning fossil fuels.In…

U.S. Court Dismisses Climate Change Lawsuits Against Oil Majors

File Image: Adobestock / © Renaschild

A California federal court dismissed climate change lawsuits against five oil companies by the cities of San Francisco and Oakland, saying the complaints required foreign and domestic…

BP to Cut 3% of Jobs in Upstream Business

British oil giant BP Plc plans to cut 3 percent of jobs in its exploration and production as part of a restructuring of its upstream operations to make the division more efficient and flexible…

BP Pays $10.5 bln for BHP Shale Assets

Photo: BP

BP Plc has agreed to buy U.S. shale oil and gas assets from global miner BHP Billiton for $10.5 billion, expanding the British oil major's footprint in some of the nation's most…

Oil Companies Make Few Bids in US Offshore Lease Auction

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Oil companies bid on less than 1 percent of the parcels offered in a sweeping U.S. auction of Gulf of Mexico exploration leases on Wednesday, showing tepid interest in the region…

US GoM Oil Production Off 32% from Storm

A view of the eye of Hurricane Michael taken on October 10, 2018 from the International Space Station currently orbiting Earth. The photo was taken by NASA astronaut Dr. Serena M. Auñón-Chancellor. (Credit: NASA)

U.S. Gulf of Mexico producers have cut oil output by 32 percent and natural gas production by 13 percent as a result of the lingering effects of Hurricane Michael, the Bureau of…

Reliance Shuts Field in Krishna-Godavari Basin

India's Reliance Industries Ltd has shut down an offshore oil and gas field on the eastern coast of India, the company said in a statement on Friday, after seeing a natural decline…

US Military Seeks Rules for Drilling in Gulf of Mexico

File photo: U.S. Navy personnel detonate a floating mine during an exercise in the Gulf of Mexico (U.S. Navy photo by Patrick Connerly)

An expansion of oil drilling in the eastern Gulf of Mexico would interfere with U.S. military testing unless the Pentagon and another agency develop rules to govern the work, the U.S.

Idled St. Croix Refinery to Restart, Produce Fuels by 2020

Owners of an idled oil refinery in St. Croix, U.S. Virgin Islands, which was once one of the world's largest refineries, plan to invest $1.4 billion to refurbish and restart a portion of the plant, they said on Monday.

U.S. Oil Firms Restoring Operations in Storm-tossed Gulf of Mexico

Photo courtesy of BP

Oil producers on Thursday were checking Gulf of Mexico production platforms and beginning to return crews to more than 90 offshore facilities evacuated this week as Hurricane Michael…

Subtropical Storm Alberto's Landfall Expected Early Next Week

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U.S. Gulf of Mexico producers and refiners are monitoring Subtropical storm Alberto, which is expected to make landfall between east Louisiana and the Florida panhandle early next week, the companies said on Friday.

Long wait Ends for Big Oil as Mexico Auctions Prized Blocks

Mexico will on Wednesday offer foreign energy firms the right to drill beneath prized deep waters in the Gulf of Mexico that may contain billions of barrels of oil, the climax of…

Exxon, Chevron Shares Plunge

Exxon Mobil Corp and Chevron Corp posted rare quarterly earnings misses on Friday as cost cuts and rising oil prices failed to offset weakness in international refining operations…

California to Ban Crude from Trump Offshore Drilling Plan

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California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S.

NuStar, Other Energy Partnerships Simplify Business Models

Photo: NuStar

Some publicly-traded U.S. energy pipeline and oil-storage partnerships are restructuring into simpler business models to help attract new investors and spur growth. Rising oil and…

Record-size US Offshore Oil Lease Sale Draws Modest Bidding

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Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region.

Exxon Leads Oil Majors in Aggressive Offshore Brazil Bids

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Exxon Mobil Corp roared into Brazil's prolific offshore oil fields again on Thursday, clinching eight blocks in partnership with other oil firms eager to lap up the country's choice…

Frontera Energy Names New CEO, Doubles Investment in Peru

Photo: Frontera Energy

Canada's Frontera Energy Corp named a new chief executive on Monday, and said it plans to more than double its investment in operations in Colombia and Peru during 2018, to up to $500 million.

Argentina Outlines Plan for $1.6 bln in Late Natgas Subsidy Payments

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Argentina will pay the $1.6 billion in subsidies it owes to oil companies that increased natural gas production in 2017 in 30 monthly quotas starting in January 2019, the Energy Ministry said on Tuesday.

Freeport LNG Delays Start of Texas Export Terminal

(Photo: Freeport LNG)

Freeport LNG, a privately held U.S. liquefied natural gas company, said on Thursday it pushed back the projected start date for its $13 billion export terminal under construction…