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...]
BP Sees First Clair Ridge Oil Helping to Double North Sea Output
By Kelly Gilblom (Bloomberg) -- BP Plc has seen first oil from its giant Clair Ridge development in the North Sea, helping arrest decades of decline in a region where drillers have already produced most easy-to-reach resources. The project increases output from the broader Clair field, which started producing oil in 2005. Clair is by far the biggest oil field in … [Read more...]
BP Offloads Last 2 Stranded Oil Cargoes to Shandong Refiner – Sources
BEIJING, Aug 15 (Reuters) - Oil major BP on Tuesday offloaded about 1 million barrels of Angolan crude from supertanker 'Olympic Light' to an independent Chinese refiner after holding the oil at sea for about three months, people with knowledge of the discharge said on Wednesday. The oil had been aboard one of four supertankers held up or delayed off China's east coast near … [Read more...]
Sharp Exchanges Highlight BP Fears of Climate Legal Jeopardy
By Kelly Gilblom (Bloomberg) -- After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change. Chief Executive Officer Bob Dudley raised the topic of class-action lawsuits twice during the company’s annual general meeting in Manchester, England on Monday, saying he wouldn’t disclose … [Read more...]