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Posts tagged to bp

BP back in Libya: British oil major is taking risks returning to chaotic country

MarketLine

For BP, a company which has suffered following massive bills incurred from the Deepwater Horizon disaster in the Gulf of Mexico, entering such a market may not immediately appear to be an example of prudent business decision making. Provided BP can drill oil reliably, and the country remains sufficiently stable to enable foreign companies to operate freely, the partnership with Eni to begin exploratory drilling in the early part of 2019 could prove fruitful. Exploring for oil at this stage could prove to be a valuable strategic move when viewed… Read more

BP expected to announce job cuts on its North Sea oil rigs, despite new field development

MarketLine

BP is expected to announce job cuts on the UK North Sea Oil rigs that it operates, despite having completed development of new wells only in December last year in the Kinnoull reservoir. The company controls the most important infrastructure in the North Sea oil fields and coupled with the recent downsizing of other operators in the area, such as Shell and Chevron, this move does not bode well for the future of North Sea oil and more broadly tight oil sources in general. BP recently completed a major development… Read more