Browsing Tag
BP p.l.c.
27 posts
Why BP is looking at Devon Energy’s Eagle Ford assets while trying to cut debt
BP p.l.c. is reportedly evaluating Devon Energy Corporation’s South Texas shale operations, potentially putting a multi-billion-dollar acquisition alongside an aggressive debt-reduction and divestment programme. The strategic logic is unusually clear because the assets could move BPX Energy close to its 2030 production target, but valuation and financing discipline may determine whether that logic translates into a transaction.
Baker Hughes wins bp North Sea stimulation contract as mature fields need more help
Baker Hughes has secured a multi-field stimulation contract from bp covering new wells and mature UK North Sea production, using a dedicated vessel and modular equipment to improve recovery.
BP appoints Ian Tyler permanent chair as $5.7bn quarterly profit meets governance upheaval
BP p.l.c. has promoted interim chair Ian Tyler to the permanent role after another turbulent leadership episode, putting governance stability alongside debt reduction and operational performance at the centre of its latest reset.
BP to take full control of 3.5 Tcf Calypso gas project as Trinidad supply crunch deepens
BP is acquiring Woodside Energy’s 70% interest in the Calypso deepwater gas project, giving it complete control of a resource that could materially strengthen Trinidad and Tobago’s gas supply. Full ownership simplifies development decisions, but BP must still establish commercial terms, select a bankable development concept and justify the cost of producing gas from water depths of approximately 2,100 metres.
BP p.l.c. profit more than doubles to $5.73bn, but shares fall as oil rally masks execution test
BP p.l.c. delivered its strongest quarterly underlying profit since 2022 as higher oil prices, trading and refining boosted earnings. Investors are now testing whether the improvement can survive weaker commodity markets.
Greater PAJ Project: Angola’s $5bn cross-block offshore oil development moves into execution in 2026
The Greater PAJ Project offshore Angola has reached final investment decision, with Azule Energy and its partners advancing a five-field deepwater development that will use a new 95,000 barrels-per-day FPSO to bring first oil in the first half of 2029.
BP’s 700 job cuts expose how aggressively Meg O’Neill is dismantling the old organisation
BP is preparing to cut about 8% of its non-frontline production and operations roles as a new two-division structure, asset sales and debt reduction reshape the British energy major.
TPAO joins BP-led Kirkuk redevelopment as Iraq brings Turkish and US capital into giant oil project
Türkiye Petrolleri Anonim Ortaklığı will take a 15% interest in BP’s Kirkuk project company, creating a BP, ConocoPhillips and Turkish Petroleum partnership around one of Iraq’s largest redevelopment opportunities.
Why BP is selling its Austrian forecourts to the same Swiss buyer that took its Zurich network
BP p.l.c. agrees Austrian retail and EV charging sale to volenergy AG, adding another building block to the $20 billion divestment plan ahead of 4 August results.
ConocoPhillips joins bp to advance Kirkuk oil redevelopment partnership in Iraq
ConocoPhillips plans a 42% entry into bp’s Kirkuk venture, adding long-life Iraqi resources while sharing capital, contract and geopolitical exposure.