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BP Makes a Significant Deep Gas Discovery in Egypt's West Nile Delta


BP Egypt announced that it has made a significant gas discovery in the Deepwater West Nile Delta area. The Hodoa discovery is located in the West Mediterranean Deepwater, Nile Delta concession, some 80 km northwest of Alexandria. The WMDW-7 well was drilled to a depth of 6350 metres and is the ...


BP Agrees to Sell its Interests in Pan American Energy to Bridas Corporation


BP announced that it has entered into an agreement to sell its interests in Pan American Energy (PAE) to Bridas Corporation. PAE is an Argentina-based oil and gas company owned by BP (60 per cent) and Bridas Corporation (40 per cent). Bridas Corporation will pay BP a total of $7.06 billion in ...


BP Agrees Sale of Five Southern African Marketing Businesses to Puma Energy


BP announced that it has agreed to sell its fuels marketing businesses in Namibia, Botswana and Zambia to Puma Energy. BP also announced that it has agreed to sell its 50% interest in each of BP Malawi and BP Tanzania to Puma Energy, subject to the pre-emption rights of its co-shareholders (Press ...


BP Awarded Seven Exploration Licences in UK North Sea


BP confirmed that it has been awarded licence interests in seven offshore exploration blocks in the UK’s 26th Seaward Licencing Round. The awards – five blocks operated by BP and two blocks operated by a partner – together represent the largest licence award BP has received in the UK for more ...


BP Returns to Profit in Third Quarter with Strong Operating Performance


BP announced that a strong operating performance across the group helped it return to profit in the third quarter of 2010 despite an additional pre-tax charge of $7.7 billion in respect of the Gulf of Mexico spill. Headline replacement cost profit for the third quarter was $1.8 billion, compared ...


BP Pledges Collateral for Gulf Of Mexico Oil Spill Trust


BP announced that it has pledged certain Gulf of Mexico assets as collateral for the $20 billion Deepwater Horizon Oil Spill Trust which was set up to pay legitimate claims arising from the April 20 incident. The pledged collateral consists of an overriding royalty interest in oil and gas ...


Douglas Flint to Stand Down From BP Board


The Board of BP announced that Douglas Flint, who currently chairs the Board’s Audit Committee, will be standing down at the Company’s next Annual General Meeting in April 2011. This follows Mr. Flint’s appointment as Chairman of HSBC p.l.c. which takes effect in December 2010.


BP Confirms Successful Completion of Well Kill Operations in Gulf of Mexico


BP confirmed that well kill operations on the MC252 well in the Gulf of Mexico are now complete, with both the casing and annulus of the well sealed by cement. The MC252 well has been shut-in since July 15 and cementing operations in August, following the static kill, provided an effective ...


BP to Sell Malaysian Ethylene and Polyethylene Interests to Petronas


BP announced that it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to PETRONAS. The agreement concerns BP’s 15 per cent interest in Ethylene Malaysia Sdn Bhd (EMSB) and 60 per cent interest in Polyethylene Malaysia Sdn Bhd (PEMSB), both of which are operated ...


BP Completes Devon Energy Transaction in the Caspian


BP announced the completion of its purchase from Devon Energy of an additional interest in the BP-operated Azeri-Chirag-Gunashli (ACG) oilfield development in the Azerbaijan sector of the Caspian Sea. “This is an important step which follows our announcement in March 2010 of a broad-ranging deal ...


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