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By John Kemp LONDON, March 5 (Reuters) - Asking petroleum engineers and managers used to working offshore and on complex engineering megaprojects, the equivalent of building Ferraris, to start developing shale plays, the equivalent of building VW Golfs, was never going to work. BP's d
Read more* Britain needs new onshore drilling infrastructure * Thousands of wells might be needed and have short life * Cuadrilla estimates 330 tcf of gas trapped in licence area By Nina Chestney LONDON, March 5 (Reuters) - Britain may be a prime location for shale gas exploration
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LONDON (Alliance News) - Shares have opened mostly lower Wednesday with small-caps out-performing large caps, following Tuesday's relief rally from lowered Ukraine tensions.
Standard Chartered has reported lower 2013 profit and a 15% reduction in its bonus pool, whi
Due to the volatility of American oil and gas prices shale producers need to be quick and nimble, adjusting their production higher or lower as a function of their commodity price forecasts. Unfortunately, such agility clashes with the predominant business model of the oil majors. Hence, BP has deci
Read moreLONDON (Alliance News) - Oil giant BP PLC Tuesday said it plans to establish a separate business to manage its onshore oil and gas assets in the US Lower 48. The new business will operate separately from the rest of BP and will be designed to adapt to the changing and competitive energy lan
Read moreMarch 4 (Reuters) - Oil major BP said it entered into a joint partnership with New Zealand Refining Co Ltd and Z Energy to procure and process crude oil through New Zealand's only refinery, according to a report on Voxy's website. BP and Z Energy, the refinery's two largest customers, curr
Read moreBy Sarah Young and Dmitry Zhdannikov LONDON, March 4 (Reuters) - Oil major BP stands by its investments in Russia, chief executive Bob Dudley said on Tuesday amid calls from U.S. officials to isolate Russia and reduce economic cooperation with Moscow over the Ukrainian crisis. "In ter
Read moreBy Jonathan Stempel March 4 (Reuters) - A divided U.S. appeals court has rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster. By a 2-1 vote, the 5th U.S. Circuit Court of
Read moreLONDON, March 4 (Reuters) - Oil major BP fully stands by its investments in Russia, chief executive Bob Dudley told an investor conference on Tuesday. The British oil major has a stake of under 20 percent in the Kremlin's state oil champion Rosneft.
Read moreBy Sarah Young and Dmitry Zhdannikov LONDON, March 4 (Reuters) - British oil company BP plans to separate its onshore U.S. oil and gas assets into a new wholly-owned business to improve the competitiveness of its shale gas portfolio there. A number of big oil companies, including riv
Read moreThe picture on the FTSE was almost the reverse image of yesterday, with Fresnillo and Randgold Resources firmly lower as they tracked metal prices back into the red after rising strongly on Monday, when a reduction in risk appetite pushed investors towards safe-haven assets. Fresnillo in particular
Read moreLONDON, March 4 (Reuters) - 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
Read moreLONDON (Alliance News) - The following is a summary of top news stories Tuesday.
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COMPANIES
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BP PLC said it disagreed with the decision by a US court of appeals, which denied the company's request for a permanent injunct
LONDON (Alliance News) - BP PLC Tuesday said it disagreed with the decision by the US court of appeals, which denied the company's request for a permanent injunction preventing certain payments in compensation for the Deep Sea Horizon oil spill. The major oil and gas company said it continu
Read moreBP has released a statement announcing its disagreement with the decision by the US Court of Appeals for the Fifth Circuit denying the company's request for a permanent injunction to prevent certain payments under the Economic and Property Damages Settlement reached in 2012. The oil giant had aske
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