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Share Price Information for BP (BP.)

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Share Price: 469.50
Bid: 469.50
Ask: 469.65
Change: -1.00 (-0.21%)
Spread: 0.15 (0.032%)
Open: 468.40
High: 472.45
Low: 468.15
Prev. Close: 470.50
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BP starts production from Shetland's Clair Ridge project

Thu, 22nd Nov 2018 16:33

(Sharecast News) - BP is launching its first oil production from the offshore Clair Ridge project in the West of Shetland, more than 40 years after oil was first discovered in the area.The FTSE 100 oil giant is targetting 640m of barrels of oil reserves and a peak production of 120,000 barrels a day..Requiring capital investment in excess of £4.5bn, two new, bridge-linked platforms and oil and gas export pipelines have been constructed as part of the Clair Ridge project, which is designed for 40 years of production.Bernard Looney, BP chief executive upstream, said: "The start-up of Clair Ridge is a culmination of decades of persistence. Clair was the first discovery we made in the West of Shetland area in 1977. But trying to access and produce its seven billion barrels proved very difficult. We had to leverage our technology and ingenuity to successfully bring on the first phase of this development in 2005.Looney said it was "a major milestone" for BP's upstream business and the company's "continued commitment" to the North Sea region.In addition to the platforms, the Clair Ridge project also included new pipeline infrastructure with the installation of a 5.5-kilometre, 22-inch oil export pipeline, said BP.Furthermore the start of production of Clair Ridge follows the start-up earlier in 2018 of five other Upstream major projects: Atoll Phase One, offshore Egypt, Shah Deniz 2 gas development in Azerbaijan, TAAS expansion project in Russia, Western Flank B offshore Western Australia and Thunderhorse Northwest Expansion in the Gulf of Mexico.
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12 Apr 2024 11:37

TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

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12 Apr 2024 08:58

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12 Apr 2024 07:56

UAE's ADNOC said to have recently considered BP takeover

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Senegal says oil, gas and mine contracts will be reworked if needed

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10 Apr 2024 08:41

Johnson Matthey and BP win deal for US sustainable aviation fuel plant

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10 Apr 2024 07:47

LONDON BRIEFING: Stocks called up ahead of US inflation data

(Alliance News) - Stocks in London are called to open higher, as investors shake off nerves ahead of a key US inflation reading.

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9 Apr 2024 17:26

Slide in defence stocks knocks down Europe's STOXX 600

BP gains on higher quarterly upstream energy output forecast

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9 Apr 2024 17:13

FTSE 100 ends down as defence stocks offset commodity gains

Easter food spending lifts UK retail sales in March

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9 Apr 2024 16:53

LONDON MARKET CLOSE: Stocks struggle in nervy trade before US data

(Alliance News) - European equities closed lower on Tuesday, with sentiment downbeat ahead of Wednesday's US inflation reading, though impetus could be found in gold, which hit another record high.

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9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

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9 Apr 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

(Alliance News) - Equities in London lacked impetus heading into Tuesday, as investors moved with caution ahead of a US inflation print on Wednesday and the European Central Bank's interest rate decision a day later.

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9 Apr 2024 10:21

PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

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TOP NEWS: BP predicts upstream production will rise in first quarter

(Alliance News) - BP PLC on Tuesday said it expects first quarter upstream production to be higher than the previous three month period but cautioned lower prices would hurt performance elsewhere.

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9 Apr 2024 08:44

LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

(Alliance News) - Stock prices in London opened mostly lower on Tuesday, as investors look ahead to a key inflation reading from the US, as well as the latest interest rate decision from the European Central Bank.

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