All parties seem to agree, but holdup remains The state of Alaska plans to buy out TransCanada’s (ticker: TRP) share of the Alaska LNG project. Both Alaska Governor Bill Walker and TransCanada have agreed to the deal, according to Alaska Dispatch News, but the funds necessary to purchase TransCanada’s share in the project still need to be approved. Alaska LNG
BP strengthens ties with CNPC for shale exploration and fuel retailing British oil giant BP (ticker: BP) announced today that the company signed a number of deals with China National Petroleum Corporation (CNPC) during Chinese President Xi Jinping’s state visit to the U.K. this week. In the company’s press release, BP said the two companies have entered into a framework
Kinder Morgan (ticker: KMI), the largest energy infrastructure company in North America, is adding to its footprint. On October 20, 2015, KMI announced a joint venture agreement with a subsidiary of BP plc (ticker: BP) for 15 terminals at a cost of $350 million. As part of the arrangement, KMI acquires a 75% interest in 14 terminals and will operate
303 mile pipeline expansion in Azerbaijan is the first leg of a 1,993 mile journey to southern Europe Construction or preliminary work has begun on three pipelines designed to flow natural gas supplies from Azerbaijan to consumers in Turkey, Bulgaria, Greece and Italy, according to the Energy Information Administration (EIA). The South Caucasus Pipeline Expansion (SCPX) is proposed to take
Iraq tells oil companies to submit conservative funding requests for 2016 A letter dated September 6, 2015, from the Iraq Oil Ministry was sent out to international oil companies operating inside the country notifying them that they should plan to lower spending in 2016, reports The Wall Street Journal. Iraq is struggling to support its energy sector as it feels
BP will pay its record setting settlement over the course of the next 18 years BP (ticker: BP) will pay $18.7 billion in settlements to the U.S. and the five states along the Gulf of Mexico to resolve the Deepwater Horizons oil spill that took place in 2010. The agreement is “the largest settlement with a single entity in American
The Supreme Court has decided not to hear the case for BP and Anadarko, upholding lower court’s liability decision Appeals by BP (ticker: BP) and Anadarko Petroleum (ticker: APC) will not be heard by the Supreme Court, meaning the decision to hold the two companies liable for the Deepwater Horizon oil spill in the Gulf of Mexico in 2010 will
Attendance at this year’s St. Petersburg International Economic Forum (SPIEF) is up from a year ago when many Western companies decided to decline invitations in the wake of Russia’s involvement in Ukraine. This year, many American companies have decided to abstain from attending again, but many European oil majors joined their Russian counterparts in St. Petersburg to announce over $1
“Political differences do not strongly affect serious business”: European majors eye slate of upcoming opportunities Attendance at Russia’s St. Petersburg International Economic Forum is up from last year after many Western companies decided to back out of last year’s conference following Russia’s annexation of Crimea. “A week before the beginning of the forum we have 5,072 confirmed applications, which is
The shifting landscape of global energy 2014 marked the beginning of a new era in the oil and gas industry, said Bob Dudley, Group Chief Executive for BP’s (ticker: BP) 2015 Statistical Review of World Energy. Price volatility is nothing new to the industry, said Dudley, but “[prices] may well come to be viewed as symptomatic of a broader shifting
Companies Hope to Strengthen Relationship On May 20, 2015, Halliburton (ticker: HAL) and BP plc (ticker: BP) announced a mutual agreement to resolve remaining issues relating to charges and indemnities from the Deepwater Horizon disaster. The incident occurred 61 months ago to the day. In a company press release, Dave Lesar, Chairman and Chief Executive Officer of HAL, referred to
BP signed the final agreements for its West Nile Delta project last week BP plc (ticker: BP) last week announced that the company signed its final agreements on the West Nile Delta (WND) project. The WND has the potential for 5 Tcf of gas and 55 MMBO of condensates. BP anticipates an investment of around $12 billion from the company
