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BP-News

Promoted

AAB: Why hydrogen and why now?

Over a third of the UK’s carbon emissions are generated by the 80 percent of domestic homes currently using natural gas for heating and cooking.

Promoted

Driving energy transformation with digital solutions

The 6th edition of Go Digital Energy, a business conference focused on sharing the best digitalisation practices to achieve efficient and sustainable operation will take place on the 7th and 8th of June in Amsterdam and online.

Promoted

Oil and gas expertise helps drive the wind of energy change

When Crown Estate Scotland announced the outcome of its application process for ScotWind Leasing in January, it marked the first Scottish offshore wind leasing round in over a decade. It also demonstrated one of many ways our industry is actively focused on reducing its carbon footprint.

Promoted

The Case for Data Decarbonisation – Part Three

This is the final in the three part series, by Snowflake, examining the concept of net zero data and how advances in technology can help the world’s largest organisations—especially those which are particularly emissions-intensive like oil and gas—reduce the carbon emissions footprint of their data. See for Part one and Part two.

Promoted

The case for data decarbonisation – Part one

This is the first in a series, by Snowflake, examining the concept of net zero data and how advances in technology can help the world’s largest organisations—especially those which are particularly emissions-intensive like oil and gas—reduce the carbon emissions footprint of their data.

Promoted

IP Week 2021: From crisis to low carbon opportunity

This coming decade will be defined by three historic, global challenges: building a resilient recovery from the devastating Covid-19 pandemic; achieving the UN goal of universal access to energy for all populations; and charting an ambitious course - at COP26 and beyond - for tackling the threat we all face from the climate emergency.

Promoted

Imagination important as firms look to future

While the immediate priority is survival, senior management of exploration and production (E&P) companies will also be looking to the future, seeking ways to access the capital required to bring undeveloped oil and gas discoveries into production and lower carbon dioxide emissions.

Promoted

The other side of Lerwick’s story

Lerwick harbour continues to add to its reputation as a leading support hub for the oil and gas industry in northern waters through its contribution to the offshore sector’s operations west of Shetland.

Promoted

DH Marine eyes success with innovative technology

The decision to expand a company’s remit and move into an unknown sector can often be problematic. But for DH Marine those initial steps 10 years ago paid off after the privately-owned company won its first major oil and gas work and then subsequent contract with BP at its Sullom Voe Terminal (SVT). The Shetland-based firm started off with just a few members of staff based in Lerwick on the Shetland Islands at the turn of the millennium.

Markets

Wood Group PSN lands BP contract

Wood Group PSN has been awarded a five year contract from BP worth an estimated $750million. The contract will deliver engineering, procurement and construction services to six UKCS offshore upstream assets and the FPS (Forties Pipeline System) onshore midstream facilities in Grangemouth. The contract win will create 150 new jobs and secure more than 700 existing positions.

Oil & Gas

BP could make deeper cuts to its 2015 budget

Oil major BP said deeper cuts could be made to its 2015 budget on the back of OPEC’s recent position and falling oil prices. The company has already announced up to $1billion in restructuring costs as it cuts thousands of jobs across its global oil and gas business. BP head of upstream, Lamar McKay, announced the company’s future plans at a meeting of investors in London.

Markets

BP to incur $1billion in restructuring charges

Oil major BP said it expects to incur restructuring charges of $1billion over the next five quarters. The company will present its future strategy to investors in London following an announcement earlier this week that job cuts would be made. Chief executive of BP Upstream, Lamar McKay, and a senior members of the management team are set to outline its changing position on the back of falling oil prices.

Markets

BP weighs future of aging Norwegian fields amidst oil crash

As oil prices keep falling, BP is among Norwegian oil producers having to take a hard look at whether to kill off aging offshore fields earlier than planned because squeezing out the last barrels might not be worth it. BP is currently deciding on plans for the five fields it operates in Norway in a study to be completed in the first half, said Jan Erik Geirmo, a Stavanger-based spokesman. “Falling oil prices, lower production and more demanding operations, in addition to significant costs for shutting down and removing old installations and platforms, are continuous challenges that may have an impact on the lifetime of some of our fields,” Geirmo said in an e-mailed reply to questions. What goes for BP also goes for an industry hit by squeezed margins even as the government demands it meet commitments to keep investing to ensure resources are exploited in full.