Latest news with #bp
Yahoo
06-06-2025
- Business
- Yahoo
BP expands oil and gas interests in Azerbaijan with new deals
BP and its partners have sanctioned a new phase of development for the Shah Deniz gas field and gained access to two new exploration blocks in Azerbaijan. The agreements, which also include terminal electrification and solar power projects, signal bp's commitment to growth and emissions reduction in the region. During Baku Energy Week, bp, in collaboration with its partners, finalised investment decisions for the Shah Deniz Compression project, which is set to enhance the production capabilities of the giant Shah Deniz gas field. BP EVP for production & operations Gordon Birrell said: 'We are deeply proud of the long and successful partnership that bp has built with Azerbaijan over more than 30 years. As can be seen by the agreements we signed this week, we continue to see many opportunities for further development and growth. As we deliver our strategy of growing our upstream, we will build on our strong positions in regions like Azerbaijan, and on the deep relationships we have with the government and our partners.' Additionally, bp has committed to two sustainability-focused projects aimed at reducing operational emissions through terminal electrification and solar power initiatives. The agreements also allow bp to explore and potentially develop two new licences in the Caspian Sea, further cementing its presence in Azerbaijan. BP has also introduced a new partner to expedite exploration activities on a third licence. For more than three decades, the energy giant has played a pivotal role in Azerbaijan's oil and gas sector. The company led the development and operation of key projects including the Azeri-Chirag-Deepwater Gunashli oilfield, the Shah Deniz gas field and the Sangachal terminal. BP's involvement extends to the Baku-Tblisi-Ceyhan oil pipeline and the Southern Gas Corridor gas pipeline network. The Shah Deniz Compression project is one of eight to ten major projects bp expects to begin between 2028 and 2030. The project is set to contribute to an increase in bp's global upstream production to 2.3–2.5 million barrels of oil equivalent per day (mboe/d) by 2030, with potential for further growth until 2035, all within bp's financial framework. In addition to project approvals, the company has finalised an agreement with SOCAR, acquiring a 35% working interest and operatorship in two blocks in the Caspian Sea, the Karabagh oilfield and the Ashrafi-Dan Ulduzu-Aypara area, with SOCAR holding the remaining 65%. The partnership has also greenlighted the Shafag solar and Sangachal terminal electrification projects, linking sustainable energy development with operational advancements. SOCAR has also inked fresh deals with ExxonMobil and bp for hydrocarbon exploration in Azerbaijan, aiming to maintain the nation's oil production at around 582,000 barrels per day for the next five years. "BP expands oil and gas interests in Azerbaijan with new deals" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
Azerbaijan's SOCAR inks oil exploration deals with ExxonMobil and BP
The State Oil Company of Azerbaijan Republic (SOCAR) has reportedly signed new agreements with Exxon Mobil and bp for oil and gas exploration in the country. This collaboration aims to sustain Azerbaijan's oil output, which is projected to remain at approximately 582,000 barrels per day (bpd) or the next five years with the help of Western energy investments. At the Baku Energy Week conference, the two companies formalised their partnership by signing a memorandum of understanding (MOU), reported Reuters, citing three sources. ExxonMobil is expected to enhance Azerbaijan's onshore production, which currently represents just 5% of its total oil output. ExxonMobil vice-president of global exploration John Ardill said: "In the years to come, we will be able to talk about the potential size of the resource and what the economics might look like.' SOCAR vice-president for geology Arzu Javadova emphasised that the current stage of the agreement is to evaluate project options, with no immediate plans for drilling exploration wells. ExxonMobil also holds stakes in the Azeri-Chirag-Gunashli oil development project and the Baku-Tbilisi-Ceyhan pipeline, which is a key route for Caspian crude to reach Turkey and European markets. SOCAR is expected to announce the divestment of stakes in the Karabakh and Ashrafi-Dan Ulduzu-Aypara offshore oil and gas fields to bp. BP is expected to take over as the operator of the Karabakh project. The move follows bp's expression of interest last year through an MOU with SOCAR. The fields were previously part of a contract with Equinor, which withdrew in 2017 to concentrate on its core assets. In addition to oil, Azerbaijan is also focusing on expanding its natural gas exports. President Ilham Aliyev disclosed at the conference that the country aims to boost its natural gas exports by eight billion cubic metres (bcm) by 2030, building on the 25bcm exported in 2024. BP also announced a final investment decision on the Shafag solar plant project, a 240MW venture in the Jabrayil district of Azerbaijan. The project, estimated to cost $200m (£147.95m), is a collaboration between bp's solar unit, Lightsource BP, SOCAR, and the Azerbaijan Business Development Fund, with completion targeted for mid-2027. "Azerbaijan's SOCAR inks oil exploration deals with ExxonMobil and BP" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
30-05-2025
- Business
- Yahoo
BP, EOG achieve first gas from Mento field, offshore Trinidad
BP Trinidad and Tobago (bpTT) and EOG Resources Trinidad (EOG) have achieved first gas from the Mento gas field off the south-east coast of Trinidad. Following first gas from the initial discovery well, drilling will now begin on the remaining seven wells. The Mento field development is operated by EOG under a 50/50 joint venture (JV) with bpTT. The project features a 12-slot facility in acreage jointly licensed by the two companies. The Mento platform was constructed at the TOFCO fabrication yard in La Brea, Trinidad. The production output from Mento is expected to play a crucial role in achieving the combined peak net production target of 250,000 barrels of oil equivalent per day (boepd) projected from these ten projects. Mento is among bp's ten significant global projects due to begin between 2025 and 2027, as announced earlier this year. This initiative is integral to bp's strategic plan to expand its upstream operations. bpTT president David Campbell said: 'I am proud to announce first gas from Mento with our partner EOG Resources Trinidad. For bpTT, this represents our second start-up this year and it is tangible proof of the benefits of partnering with others to bring much needed gas into production. The bpTT/EOG partnership is progressing well as we continue to work on our next joint venture project Coconut.' The two companies are also working on the Coconut gas development under a similar JV agreement. This development's start-up is expected in 2027. Meanwhile, Bloomberg recently reported that Shell is assessing a potential acquisition of bp. A potential merger is expected to boost Shell's position in the global energy market, rivalling US counterparts Exxon and Chevron. "BP, EOG achieve first gas from Mento field, offshore Trinidad" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scotsman
29-05-2025
- Business
- Scotsman
Pinsent Masons major hires bolster Aberdeen energy offering
Multinational law firm Pinsent Masons has announced two Partner appointments which significantly strengthen its Aberdeen office. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Energy sector specialist Chris Sawyer has joined the firm's corporate team while former Burness Paull director Gillian Harrington joins as a partner to lead the Granite City-based employment team. Both appointments have been described as 'headline hires' by Pinsent Masons Partner and Aberdeen Head of Office Richard Scott. Advertisement Hide Ad Advertisement Hide Ad Chris Sawyer has held a number of C-suite level in-house legal roles over a 20 year period with major oil and gas operators including bp, and more recently EnQuest where he was General Counsel. Gillian Harrington, Partner and head of Pinsent Masons employment team in Aberdeen. His international experience, including a three year period as head of legal for bp's Russian business in Moscow, aligned with two decades of UKCS focused activity, bolsters Pinsent Masons expertise in oil and gas, energy transition, risk management and regulatory compliance. Gillian Harrington is well-established in the north-east having spent her entire career in Aberdeen and for the last six years was a director in Burness Paull's employment team. Her experience of advising executive boards on complex, contentious and non-contentious employment issues, will be an asset to the firm's broad range of UK and international clients. Julia Maguire, Pinsent Masons' Global Sector Head, Energy, said: 'The energy sector, both in the North Sea and globally, offers huge opportunities. Many larger energy companies are selling their mature assets to the smaller independent energy businesses who then redevelop them to extend their lifespan while reducing carbon emissions. Our clients need guidance on navigating shifting markets, driven by the energy transition and the need to ensure a secure energy supply in the context of continuing geopolitical uncertainty. Advertisement Hide Ad Advertisement Hide Ad 'Chris' and Gillian's expertise will help ensure we capitalise on these opportunities and continue to deliver our energy clients' most important and most complex deals across the globe. Having seen our global energy practice grow by 90% over the last four years, we appreciate the continuing and growing client need for the kind of deep sector expertise and experience which Chris and Gillian can offer.' HSE litigation specialist Willie Park has been promoted to Legal Director at Pinsent Masons. Pinsent Masons also recently announced the promotion of Aberdeen-based HSE litigation specialist, Willie Park, to Legal Director. Richard Scott said: 'Both Chris and Gillian are very highly regarded in their respective fields and the stature of these appointments underlines our commitment to clients in Aberdeen and beyond to continue to provide market leading expert legal counsel across the energy sector. 'As Chris and Gillian settle into the team, and with Willie Park's appointment as Legal Director recognising his expertise in and out of court, our offering goes from strength to strength and we will continue to seek out the best practitioners who can add to value to our client portfolio.' Advertisement Hide Ad Advertisement Hide Ad Chris Sawyer said: 'I worked with Pinsent Masons at bp and again at EnQuest so know the firm very well and as a recipient of its client outreach seminars and thought-leadership initiatives, I think Pinsent Masons as a truly sector-focused law firm offers clients something quite unique. Energy specialist Chris Sawyer joins Pinsent Masons as a Partner in the corporate team. 'The risk portfolio of operating in the North Sea has gone up significantly in recent years, be that through climate action and awareness, regulation or the taxation system. Those risks are starting to play out in a way that lawyers are being called upon to assess them differently from say five years ago, and coming at this with a 'GC mindset' I will be able to advise clients on navigating those complex issues.' Gillian Harrington added: 'Pinsent Masons has an excellent reputation in the energy sector both in Aberdeen and globally. I see a significant opportunity to further grow our employment practice and to continue to deliver market-leading advice to our clients.
Fox News
28-05-2025
- Automotive
- Fox News
Spring clean your car with these 10 cleaning supplies
Instead of spending a bunch of money on expensive car wash add-ons, take matters into your own hands and wash your car yourself. Spring cleaning season is here, and you shouldn't forget about cleaning out your car, as well as your home. From microfiber cloths to interior and exterior cleaners, you can find everything you need to clean your car on your own. And, if you want to save even more, take advantage of a major fuel-saving benefit from Amazon. Amazon can save you up to 10 cents per gallon if you're an Amazon Prime member. You can save at bp, Amoco, and participating ampm stations when you link your Amazon and earnify accounts. The earnify app will help you locate gas stations near you. For an all-purpose car cleaner that works on plastic, leather, vinyl, carpet, wood and glass, the Chemical Guys total interior cleaner is a solid option. Not only will the cleaner remove dust, dirt and stains from your car's interior, but it acts as a protectant to prevent dust and grime build-up. The formula is also dry to the touch, so there won't be any residue left behind once you wipe down all your surfaces. Original price: $39.99 Get every scrubbing option you need to wash the inside and outside of your car with this car wash brush set. You can extend the brush up to 62 inches, making it easy to reach every nook and cranny. You also get a handheld brush that's perfect for scrubbing the interior of your car, as well as a car wash mop that won't scratch your paint. Washing your windshield is a pain. There are always a few spots you just can't reach. This reusable microfiber windshield cleaner tool eliminated that problem. It's designed to easily reach corners and tight spots, so you can get a sparkling-clean windshield every time. Original price: $12.99 Keep the leather seats in your car looking brand new when you use Weiman leather cleaner. It's made with non-toxic ingredients and is designed to protect your leather seats from sun damage and cracking. Surfaces like your cupholders, air vents and under the seat can be difficult to clean, but Auto Drive's cleaning gel can pick up messes from these hard-to-reach areas. The gel cleans surfaces without leaving behind sticky residue, and it's reusable. Clean all your car's surfaces with the help of an Armor All car cleaning kit. The bucket full of cleaning products includes glass cleaning wipes, an interior detailer spray, a car wash and wax for the exterior, wheel and tire cleaner and microfiber cleaning cloths. Just throw the bucket in your trunk or back seat, and you have everything you need to clean your car regularly. Original price: $99.99 A handheld car vacuum is great for drivers with pets, kids or those who like a sparkling clean car. The cordless vacuum comes with 10 accessories that can help you clean every part of your car. You can easily charge the vacuum in a couple of hours, and the vacuum can be used for 40 minutes. Original price: $14.97 For spot cleaning, having some Armor All car cleaning wipes on hand is a good idea. These wipes are great for most of your car's surfaces and help remove stains. The wipes won't dry out or leave behind any residue. A 24-pack of microfiber cloths are gentle on your car and are great for any type of cleaning product. You can use these non-abrasive cloths on the interior and exterior of your car, and they can soak up water, dust and spills will ease. For more deals, visit Original price: $179.99 The Chemical Guys all season arsenal builder kit has everything you need to wash the interior and exterior of your car. You'll get scrub brushes, mop heads and cloths for every surface in your vehicle. You also get all the detergents, polishes and washes you'd find at a car wash. Plus, included is a giant bucket with a lid to keep all your products safe.
