BP to restart hit Alaskan output
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BP says it expects to restart on Monday Alaskan oil production that has been halted due to a spill.
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Oil major BP will pay $373 million to settle U.S. charges stemming from a deadly Texas refinery explosion and an Alaska oil spill, as well as allegations it manipulated propane markets, the government said on Thursday.
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BP  unit BP Exploration  (Alaska) Inc has agreed to pay $379 million to settle a dispute  over outstanding corporate income taxes charged between the  years 2000 and 2002, Gov. Sarah Palin said on Monday.
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British energy giant BP said that it expected to resume full production by the end of October of 400,000 barrels of oil a day from Prudhoe Bay, the biggest US oil field.
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Oil extended a week of losses to strike a  new five-month low under $67 on Friday after U.S. distillate  supplies rose sharply and BP said it might be able to restore  its Alaskan oilfield sooner than expected.
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Oil major BP Plc BP.L BP.N is   aiming to restart oil production at the eastern half of the   giant Prudhoe Bay oil field in Alaska by the end of September,   sources familiar with the company's plans said on Thursday.
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Delays to the restart of a crude unit at BP Plc's  Texas City, Texas, refinery will cause it to miss its goal of raising crude oil processing rates at the refinery to 400,000 barrels per day by the end of 2007, a source familiar with refinery operations said Monday.
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The federal government will open up nearly 46,000 square miles off Alaska's northwest coast to petroleum leases next month, a decision condemned by enviromental groups that contend the industrial activity will harm northern marine mammals.
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BP is to continue pumping oil from part of a giant field in Alaska, where a corroded pipeline sprang a leak last week, and aimed to raise output to 200,000 barrels per day.
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Oil rebounded over $64 on Monday as   dealers stemmed a steep slide in recent weeks and BP announced   that production from its giant Thunder Horse oil platform in   the Gulf of Mexico would be delayed to 2008.
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BP Plc BP.L this week will conduct   safety tests and seek permission to restart part of the eastern   Prudhoe Bay oil field pipeline in Alaska that was shut due to   corrosion, the company told Congress on Tuesday.
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Oil prices fell to their lowest level   in five months on Thursday, after energy giant BP said it could   bring its huge oil field in Prudhoe Bay, Alaska, back to full   production by the end of October.
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Oil major BP Plc  said on  Thursday it will delay to next week its decision on whether to  completely shut down the western portion of its 400,000 barrels  per day Prudhoe Bay oil field.
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British energy giant BP PLC said Wednesday that oil and gas production rose 4 percent in the fourth quarter of 2004, largely due to higher output from Russia, but added that higher taxes there would take a chunk out of earnings.
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British energy giant BP said that overall production of its oil products during the third quarter was expected to rise by 11 percent from the equivalent figure last year, helped by its Russian operations.
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Oil giant BP is reviewing its global operations in response to last year's Texas refinery blast.
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Investigators in the U.S. Congress  have found "significant problems" with the way BP Plc.  maintained its Prudhoe Bay facility in Alaska, sources close to  the inquiry said, setting the stage for a heated hearing on  Thursday into corrosion that threatened to shut down the  biggest U.S. oil field.