BP to Separate U.S. Shale Assets into New Business

marinelink.com
Tuesday, March 04, 2014

British oil company said it planned to separate its onshore U.S. oil and gas assets, including its shale resources, into a different business which it would own but which would be managed by a different team.

"This move is expected to help unlock the significant value associated with BP's extensive resource position in the U.S. Lower 48 onshore," the company said in a statement on Tuesday, ahead of a management presentation on its strategy in London.

The new business consists of an extensive unconventional or shale resource of around 7.6 billion barrels of oil equivalent, BP said, adding that it would start to disclose separate financials for the new business from 2015.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

2545 Candidates Vie for 11 Positions in Maersk Drilling

2545, that is exactly how many applicants applied for the 11 MITAS engineer positions available in Maersk Drilling in 2014. The Maersk International Technology and Science Programme,

GDI Awards N-KOM US$110-M Contracts

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts

Statoil Awarded Licence Offshore Colombia

Statoil has been awarded interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round. Statoil will hold 33,33% in the licence.

Finance

Seadrill Bondholders: Majority Accept Conversion Offer

Seadrill Limited says that holders of approximately US$547 million of Seadrill's convertible bonds due 2017 (representing approx. 84.1% of the total outstanding

General Dynamics Reports 2Q 2014 Earnings

General Dynamics today reported 2014 second-quarter earnings from continuing operations of $646 million, or $1.88 per share on a diluted basis, compared to second-quarter

Trading Dutch Well Placed to Pursue Russia Sanctions

The seafaring Netherlands prides itself on being a trading nation, reluctant to let politics get in the way of a good deal. But since the downing, allegedly

Energy

Semco and PV Join Forces for Rig Upgrade

Semco Maritime and PetroVietnam Marine Shipyard join forces to establish high class rig upgrade player in South East Asia - Vung Tau Rig Services. The initiative

Statoil Awarded Licence Offshore Colombia

Statoil has been awarded interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round. Statoil will hold 33,33% in the licence.

Gazprom to Extend Gas Supplies from Kazakhstan

Astana hosted today a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan.

LNG

Editorial: Gas ... It's Both the Question & the Answer

When the time comes to pull an edition together, sometimes the content simply takes on a life of its own, as is the case with the July 2014 edition and the proliferation of ‘gas’ throughout.

EXXONMOBIL Files Export Application for Alaska LNG Project

In another important step forward for the Alaska LNG project, an application to export liquefied natural gas (LNG) was submitted to the U.S. Department of Energy by EXXONMobil.

Bureau Veritas Kick-starts LNG Bunkering

International classification society Bureau Veritas has published a comprehensive set of guidelines on LNG Bunkering, with the aim of speeding adoption of LNG as

Logistics

London, Brazil Terminals Boost DP World Container Volumes

DP World , one of the world's biggest port operators, said on Thursday that its gross container volumes rose 10.7 percent from a year earlier in the first half of 2014.

Abu Dhabi Ports Shift Far More Breakbulk Cargo

Abu Dhabi Ports Company (ABPC) says that general cargo moving through Abu Dhabi’s commercial Ports has increased by 37% this year. ADPC’s commercial ports (Musaffah,

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Offshore Energy

2545 Candidates Vie for 11 Positions in Maersk Drilling

2545, that is exactly how many applicants applied for the 11 MITAS engineer positions available in Maersk Drilling in 2014. The Maersk International Technology and Science Programme,

GDI Awards N-KOM US$110-M Contracts

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts

Seadrill Bondholders: Majority Accept Conversion Offer

Seadrill Limited says that holders of approximately US$547 million of Seadrill's convertible bonds due 2017 (representing approx. 84.1% of the total outstanding

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0974 sec (10 req/sec)