BP to Invest $37b in Energy Projects

Energy Watch has reported that BP said it plans to invest a total of some $37 billion in U.S. energy projects to explore, produce and process more oil and natural gas. Under its program, BP will spend $16 billion over the next decade on oil and natural gas exploration and production in U.S. deep waters in the Gulf of Mexico, said company officials. The company is also looking to invest $17 billion over the same period on U.S. onshore oil and gas development in the Rockies and elsewhere, while spending some $3 billion in refinery upgrades to process more heavy oil from the north. Source: Energy Watch