BP is Striking Out in a Hotspot for Offshore Oil Exploration

By Peter Millard and Kelly Gilblom (Bloomberg) --It was supposed to be BP Plc’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil. The potential bonanza is still out of reach, two years after the London-based major teamed up with Brazil’s national oil company and a unit of China National Petroleum Corp. to outbid two … [Read more...]

BP Has No Plans to Take Tankers Through Hormuz

LONDON, July 30 (Reuters) - BP has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels, the British company's Chief Financial Officer Brian Gilvary said on Tuesday. The oil and gas company has no current plans to take any of its own vessels through the strait, Gilvary said, adding that BP is shipping oil … [Read more...]

BP Introduces New IMO 2020-Compliant Bunker Fuel

BP says it will begin selling a new type of low sulphur bunker fuel that meets new MARPOL regulations limiting the sulphur content of marine fuels to 0.5%. BP announced Monday plans to introduce the new very low sulphur fuel oil (VLSFO) globally following successful sea trials of the fuel that was manufactured and supplied by BP in the Amsterdam/Rotterdam/Antwerp (ARA) and … [Read more...]

After Billion-Barrel Bonanza, BP Goes Global with Seismic Tech

By Ron Bousso LONDON, Jan 18 (Reuters) - Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola and Brazil. The software used in the Gulf, based on an algorithm created by Xukai Shen, a geophysicist straight out of Stanford University, led to BP discovering the … [Read more...]

BP Uses New Technology to Unlock 1 Billion BOE at Thunder Horse Field

By Ron Bousso LONDON, Jan 8 (Reuters) - BP said it has discovered two new oilfields in the Gulf of Mexico and has identified an additional billion barrels of oil at an existing field thanks to new seismic technology. The British company, which has only recently turned a corner following the deadly 2010 Deepwater Horizon spill, also on Tuesday announced plans to expand … [Read more...]