bp and Shell have agreed terms for Shell to acquire a 50 per cent stake in the Tupinambá exploration block in the Santos Basin, offshore Brazil, in addition to a 30 per cent stake in five leases containing the Conifer exploration prospect in the deepwater Gulf of America Paleogene.
BP today announced that it has appointed Ian Tyler as Chair of the company following an extensive search process, including both internal and external candidates. He will assume the role immediately.
bp has agreed to acquire Woodside Energy’s 70 per cent interest in Block TTDAA 14, the Calypso gas project in Trinidad and Tobago, increasing bp’s stake to 100 per cent and assuming operatorship.
BP reported a sharp rebound in second-quarter earnings, helped by stronger oil and gas prices, improved refining margins and robust cash generation, as new Chief Executive Officer Meg O'Neill outlined an ambitious strategy to improve performance and restore shareholder confidence.
bp has completed the sale of Gelsenkirchen refinery and related businesses to Klesch Group. The transaction supports bp’s continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion.
bp and the Government of the Bolivarian Republic of Venezuela have signed agreements to advance offshore gas development, including the award of an exploration and production licence for Phase 2 of the Loran field in the Plataforma Deltana area.
bp has launched a process to market its North Sea business for a potential sale as part of its ongoing portfolio review, aiming to simplify operations, strengthen its business and support disciplined capital allocation.
bp and Venezuela have signed agreements to advance offshore gas development, including an exploration and production licence for Phase 2 of the Loran field in the Plataforma Deltana area, which holds an estimated 4 trillion cubic feet of recoverable gas resources.
bp has agreed to sell its non-operated interest in the Bay du Nord project offshore Newfoundland and Labrador, Canada, to Equinor. The transaction is consistent with bp’s continued focus on portfolio simplification and disciplined capital allocation.
bp has started up its Atlantis Major Facility Expansion project in the US Gulf of America, adding two subsea water injection wells to boost reservoir pressure, unlock additional production and extend the life of the offshore asset.
