bp Energy Outlook for 2020
The 2020 edition of the bp Energy Outlook explores possible paths for the global energy transition, how global energy markets may evolve over the next thirty years and the key uncertainties that may shape them. Looking out to 2050 – a decade further than in previous editions – the Outlook …
bp and Equinor Form Strategic Partnership to Develop Offshore Wind Energy in US
bp and Equinor today announced the formation of a new strategic partnership to develop offshore wind projects in the US. This includes the development of existing offshore wind leases on the US East coast and jointly pursuing further opportunities for offshore wind in the US. Bernard Looney, bp’s chief executive, …
Turan Drilling & Engineering to Manage BP Procurement Activity in Azerbaijan
Turan Drilling & Engineering Company LLC (A KCA Deutag and SOCAR AQS Company), today announces that it has been awarded a contract amendment to manage procurement, maintenance and warehousing activities on behalf of BP Exploration (Caspian Sea) Limited (“BP”). The agreement, effective 15 June 2020, means Turan Drilling & Engineering …
BP Set to Return to Kazakhstan After 11 Years
Under new plans, British multinational oil and gas giant BP will collaborate with state-owned KazMunayGas (KMG) company to explore for hydrocarbons in Central Asia’s wealthiest country. The companies have already picked some promising deposits, which are currently being examined. The Kazakh company, however, did not name any specific project, while BP has shown …
BP: Quarterly Results
Underlying replacement cost loss for the quarter was $6.7 billion, compared with a profit of $2.8 billion for the same period a year earlier. The result was driven primarily by non-cash Upstream exploration write-offs – $6.5 billion after tax – principally resulting from a review of BP’s long-term strategic plans …
bp Statistical Review of World Energy 2020: a Pivotal Moment
This year’s edition – which collects and analyses energy data for 2019 – highlights the global energy trends emerging prior to the current Covid-19 pandemic. While some aspects – such as the continuing strong growth in renewables – offer encouragement that the world is moving onto a more sustainable path, …
Progressing Strategy Development, BP Revises Long-Term Price Assumptions, Reviews Intangible Assets and, as a Result, Expects Non-Cash Impairments and Write-Offs
In mid-February, BP p.l.c. (bp) laid out a new purpose – to reimagine energy for people and our planet – and its ambition to become a net zero company by 2050 or sooner and to help the world get to net zero. Since then, bp has focused its work in …
Google Plans to Stop Making A.I. Tools for Oil and Gas Firms
Google has pledged to stop building customized artificial intelligence (AI) tools that help oil and gas firms to extract fossil fuels worldwide. The story was reported by Medium’s tech publication, OneZero, following an interview with The Cube that was published on YouTube. A Greenpeace report on Tuesday highlighted how Google, Microsoft, and Amazon use AI and warehouse servers to …
23rd World Petroleum Congress Postponed to December 2021
In light of the consequences of COVID-19 and global market volatility, the 23rd World Petroleum Congress has been postponed to December 5-9 2021, it was announced today by WPC President Tor Fjaeran and the Organizing Committee Chairman, Jeff Shellebarger. The decision from the World Petroleum Council Executive Committee and 23rd …
BP Supercomputer to Aid Global Healthcare Researchers in Race to Halt COVID-19
BP is joining forces with the U.S. government, leading universities and the world’s largest technology companies by providing access to its supercomputer to help researchers halt the spread of COVID-19. BP will donate its significant supercomputing capability to the public-private consortium formed in March 2020 by the White House’s Office …