Green Energy The latest Retail Marketing Survey, conducted by the Energy Institute (EI), shows that the number of forecourts in the UK continued to decline over the past year, falling to just 8,480 sites – down from 8,892 outlets in 2010. This is compared to 1967’s all-time high of 39,958 forecourts. Oil company sites decreased … Read more
BP plans to sell its interests in a number of operated oil and gas fields in the UK. The assets involved are the Wytch Farm onshore oilfield in Dorset and all of BP’s operated gas fields in the Southern North Sea, including associated pipeline infrastructure and the Dimlington terminal. BP anticipates that the staff currently … Read more
Big oil companies bringing biofuel to the UK market are not doing enough to ensure that it is delivering carbon savings and being produced in a sustainable manner. BP, Chevron, Murco, Total, INEOS and Morgan all missed all three sustainability performance targets set as part of the UK Government’s Renewable Transport Fuel Obligation (RTFO). Murco … Read more
BP and Rosneft, Russia’s leading oil producing company, have agreed a groundbreaking strategic global alliance. The two energy groups will explore and develop three license blocks – EPNZ 1,2,3 – on the Russian Arctic continental shelf. These licences were awarded to Rosneft in 2010 and cover approximately 125,000 square kilometres in a highly prospective area … Read more
BP is continuing to dispose of assets to help fund its liability arising from the Deepwater Horizon explosion in the Gulf of Mexico in April. The global energy group has agreed to sell its 60% stake in Pan American Energy, an Argentina-based oil and gas company, to Bridas Corporation for $7.06 billion. The disposal is … Read more
Interbrand’s annual ranking of the world’s world’s most successful brands for the first time does not include BP, which lost billions of dollars of value, and brand equity, due to the oil spill in the Gulf of Mexico. “BP’s environmental disaster and inability to make good on its brand promise of ‘Beyond Petroleum’ led to … Read more
No single factor caused the Macondo well tragedy, according to BP. Rather, a sequence of failures involving a number of different parties led to the explosion and fire which killed 11 people and caused widespread pollution in the Gulf of Mexico earlier this year. A report released by BP today concludes that decisions made by … Read more
With its share price continuing to fall, BP’s market capitalization has now fallen by more than $100b since its oil spill in the Gulf of Mexico started. According to the oil giant, the cost of cleaning up the leaking oil has risen to $2.35b. Its market capitalisation could well sink deeper due to anticipated further … Read more