BP's shareholders have voted against chief executive Bob Dudley's $20 million pay deal for 2015, a rare investor revolt for such a major company, after it recorded a record annual loss.
Some 59 per cent
BP and Norway's Statoil will withdraw staff from two gas plants in Algeria after an attack by militants on one of the sites in the North African country, the companies said on Monday.
Militants attacked the In Salah gas plant,
BP Oman has started appraisal work of the Amin reservoir in the northern area of its Block 61 license in central Oman, which could equate energy producing volumes to around half of the Sultanate's current combined gas output by 2020, accor
Dubai-based Topaz Energy and Marine, a leading offshore support vessel company, has secured 14 offshore support vessel contracts with BP Exploration (Caspian Sea).
Under the terms of the agreement, Topaz will supply 1
Britain's BP and partner Oman Oil have signed an agreement to develop a second phase of the Khazzan natural gas field, taking the estimated investment in the project to $16 billion, the company said.
The agreement with the gov
European equities fell on Tuesday as crude oil prices slipped again and companies like BP reported disappointing earnings.
BP fell 9 per cent, its biggest daily decline since mid-June 2010, after reporting its worst annual loss in
BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.
BP's diversion of a tanker of liquefied natural gas (LNG) away from Egypt due to payment issues is the first sign that the country's currency crisis could be jeopardising its energy supplies, traders said.
The slump in global oil prices could hit bottom in early 2016 although prices are likely to remain low for the next couple of years, BP chief executive Bob Dudley said.
"A low point could be in the first quarter," Dudley
BP said it ordered a total evacuation of its Valhall platform in the North Sea on Thursday after a barge broke its anchor and was drifting towards the installation following a storm.
"The barge has changed direction and BP ha