Articles Tagged "bp"

Giant Exxon Discovery Could Change Deepwater Gulf of Mexico Outlook

Oil companies are hoping this latest major find will provide further justification for speeding up the permit issuing process for deepwater drilling in the Gulf of Mexico.

Oil Prices Climb on Supply Concerns and Bernanke Comments

Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.

BP cuts back production, capital spending forecasts

BP has cut-down its production forecast as well as capital spending on the expectation that low oil prices and reduced demand amid the global slump will last through this year and possibly into 2010. Chief Executive Tony Hayward, said: We therefore do not expect a quick recovery, and it would be wise to prepare for [...]

Marathon, BP close out terrible 4Q for oil sector

The list of the world’s biggest oil companies stung by crude’s swift collapse grew by two on Tuesday, as BP PLC and Marathon Oil Corp. both reported fourth-quarter losses to end a dismal earnings period for major producers. For full story, click here

BP, RIL sign contract

BP and Reliance Industries signed a production sharing contract for the block KG-DWN-2005/2 with the Indian government. For full story, click here