BP closer to losing its gas field
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A court ruling moves TNK-BP a step closer to losing the licence for the Kovykta gas field in East Siberia.
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Oil company BP has indefinitely shut down the nation's biggest oilfield after finding a pipeline leak, removing about 8 percent of U.S. oil production and stoking fears that already high gas prices will shoot up further.
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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 prices inched closer to $50 a barrel Thursday even as the Bush administration considered tapping the nation&#39;s emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Energy giant BP&#39;s third-quarter revenues are set to be &quot;dreadful,&quot; the company&#39;s chief executive Tony Hayward told a meeting of BP employees in Houston, the Financial Times reported Tuesday.
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BP America, the US arm of British energy giant BP, is to spend more than 550 million dollars (432 million euros) over the next two years on improvements to its Alaskan oil fields, including pipeline repairs, the group has said in a statement.
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The government says it is near agreement with BP PLC and Shell Oil Co. to recoup some of nearly $10 billion in lost royalty revenue from improperly prepared oil and gas leases.
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It's hard picking from among the oil majors, but BP is a step ahead of its peers.
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PORTLAND, Maine  - BP Plc  slowed production at its oil refinery in Texas City, Texas, after a mechanical glitch, the company said in a filing with state environmental regulators on Saturday.
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BP Plc's oil and gas production rose 11  percent on the year in the third quarter but analysts expect  strong earnings for the quarter to be mainly due to runaway oil  prices rather than BP's record in finding oil.
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Energy giant BP has said it was shutting down America's biggest oil field after an ageing Alaskan pipeline sprang a leak, sending crude prices shooting up on world markets.
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British energy giant BP has said that it expects 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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By Scott Streater, Fort Worth Star-Telegram, Texas  Mar. 11--The first sign of impending disaster would be a piercing hiss as thousands of pounds of chlorine gas rushed through a hole in one of the 4,000-gallon storage tanks at the Tarrant County Water Supply Project plant in Euless.
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BP said the start of production at its Thunder Horse platform in the Gulf of Mexico would be delayed after tests showed safety problems.
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The head of the House Energy and   Commerce Committee chided BP Plc. BP.L executives on Thursday   for overlooking corrosion that threatened to shut down the   giant Prudhoe Bay oil field in Alaska, calling the UK-based   energy giant's policies "as rusty as its pipelines."
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Energy company BP has reported weak crude production in the third quarter following the partial shutdown of Prudhoe Bay -- the largest oil field in the United States.
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Oil prices slumped as much as 1  percent on Monday after BP said it would keep half its Prudhoe  Bay oilfield pumping while it carries out pipeline repairs and  the United Nations brokered a truce in the Middle East.