ADNOC Gas, an affiliate of the Abu Dhabi National Oil Company (ADNOC), is set to expand its reach in the global liquefied natural gas (LNG) market through a $5 billion acquisition of ADNOC’s 60% stake in the Ruwais LNG project. Scheduled for completion by the second half of 2028, this acquisition reinforces ADNOC Gas’s mission […]
BP stock experienced a sharp drop this week, even after the British energy giant reported a stronger-than-expected third-quarter profit. However, the positive earnings report did little to reassure investors, who have increasingly scrutinised BP’s financial stability and strategic direction compared to competitors ExxonMobil and Chevron. Despite a slight earnings beat, BP’s revenue missed expectations, production […]
In a landmark move reflecting BP’s commitment to green energy, the British oil giant has acquired the remaining 50.03% stake in its solar joint venture, Lightsource BP, for £254 million. This acquisition, first announced in late 2023, underscores BP’s ambitious strategy to become a leader in renewable energy as it pivots from traditional fossil fuels […]
Azerbaijan’s ACG field is on the cusp of a significant transformation following the signing of a Non-Associated Gas (NAG) agreement. A consortium of energy giants, including ONGC Videsh, bp, the State Oil Company of Azerbaijan (SOCAR), and others, has added a crucial new addendum to the existing Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli […]
Apollo Global Management Inc. has announced that funds managed by the company, referred to as the “Apollo Funds,” will acquire a non-controlling stake in bp Pipelines TAP Limited, a subsidiary of bp that holds a 20% share in Trans Adriatic Pipeline AG (TAP). The transaction, valued at around $1 billion, allows Apollo to gain exposure […]
British energy giant bp and Spanish utility Iberdrola have officially approved the construction of Spain’s largest green hydrogen plant. The 25 megawatt (MW) facility, set to be operational by the latter half of 2026, will be located at bp’s Castellón refinery. This marks the first collaborative hydrogen initiative by the two companies through their joint […]
In a significant development for the oil and gas sector, Audubon Engineering Company (Audubon), a prominent player in engineering, procurement, and construction (EPC) solutions, has secured a major contract with BP for the Kaskida project. The contract encompasses the topside engineering and design of the Kaskida floating production unit (FPU) situated in the US Gulf […]
In a landmark development for the Middle East, bp has formalised a memorandum of understanding (MoU) with the Government of the Republic of Iraq to spearhead a comprehensive redevelopment initiative for the Kirkuk region. This pivotal agreement encompasses a wide range of investments including oil and gas development, power generation, and solar energy projects, with […]
British energy giant bp has announced its intention to acquire the remaining 50% stake in its Brazilian joint venture, bp Bunge Bioenergia S.A., from Bunge Limited. This strategic move will grant bp full ownership of the prominent biofuels producer, a key player in Brazil’s sugarcane and ethanol sector. The deal, valued at approximately $1.4 billion, […]
British Petroleum (BP) has made a landmark decision to proceed with its Kaskida project, marking the establishment of its sixth hub in the US Gulf of Mexico. This ambitious move underscores BP’s dedication to delivering secure, affordable, and reliable energy while reinforcing its long-term commitment to the region’s development. Kaskida’s Production and Development Kaskida will […]