BP’s Fourth Quarter and Full Year 2018 Results and Strategy Update
BP’s full year results for 2018 show business momentum building with earnings more than doubling, returns nearly doubling, and reliability at record levels More than double full-year earnings, near double returns Underlying replacement cost profit for full year 2018 was $12.7 billion, more than double that reported for 2017. The fourth …
BP to Support Investor Group’s Call for Greater Reporting Around Paris Goals
BP said today that it will support a call from a group of institutional investors for the company to broaden its corporate reporting to describe how its strategy is consistent with the goals of the Paris Agreement. Investor participants of the Climate Action 100+ initiative have proposed a resolution to …
BP Talks Deep Gas Production at ACG in Azerbaijan
BP is planning to start deep gas production in the Azeri-Chirag-Gunashli (ACG) block located in the Azerbaijani sector of the Caspian Sea. Negotiations continue on deep gas production from the Azeri-Chirag-Gunashli (ACG) block, BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend on January 28. He said that deep gas at the ACG …
BP Invests in New Artificial Intelligence Technology
BP Ventures has invested $5 million in Belmont Technology’s Series A financing to further bolster BP’s artificial intelligence (AI) and digital capabilities in its Upstream business. The investment supports BP’s ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business. The Houston …
Shah Deniz Celebrates 100 Billion Cubic metres of Total Gas Production
The total gas production from the Shah Deniz field has reached 100 billion cubic meters. The milestone was achieved at the end of December, exactly 12 years after the first announcement of the start-up of commercial gas production from the field and operations of the South Caucasus Pipeline, BP Azerbaijan told …
BP Announces Plans on Drilling New Wells in Azerbaijan for 2019
BP plans to drill four new wells at Azerbaijan’s oil and gas fields in 2019, BP Azerbaijan Vice President Bakhtiyar Aslanbayli told Trend. In particular, he noted that two exploration wells will be drilled in the shallow waters around the Absheron Peninsula [SWAP project], one well at the Shafag-Asiman block …
BP Announces Production Forecast at ACG in 2019
The production of Azeri-Chirag-Gunashli (ACG) blocks in the Azerbaijani sector of the Caspian Sea in 2019 is expected to remain approximately at the level of 2018. This was stated by BP Azerbaijan Vice President Bakhtiyar Aslanbayli in Baku on December 13. “In 2019, the production at the Azeri-Chirag-Guneshli field is expected …
BP Completes Purchase of BHP Assets in US Onshore
BP has completed the $10.5 billion acquisition of BHP’s U.S. unconventional assets in a landmark deal that will significantly upgrade BP’s U.S. onshore oil and gas portfolio and help drive long-term growth. The acquisition – which was announced in July and closed as scheduled on October 31– adds oil and …
BP and Aker BP Form Strategic Technology Venture Alliance
BP today announced that it has signed a ventures cooperation agreement with Aker BP to explore possible areas of cooperation in the development and deployment of advanced technologies in their businesses. Through their planned strategic alliance, BP and Aker BP intend to explore potential venture capital investments targeting technology and …
BP Appoints New Non-Executive Directors
On 26 April BP announced that Helge Lund would join the board as a non-executive director on 1 September, becoming chairman on 1 January 2019 when Carl-Henric Svanberg steps down. Mr Lund has been able now to join the board earlier; this will not affect the timing of his succession to …