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1) talking about exploration.

The tech and computers and seismic look to be coming together to give great potential going forward.

Although Murray was trying very hard to say there are no guarantees going forward that this would continue.

(But it does seem likely, as otherwise this would just have been one hell of a lucky year).

2)BPx energy I think the number was .

Due to improvements in productivity etc they had managed to effectively get 13 extra wells free for the same cash compared to last year.( and this on top of the improvements seen last year compared to 2023)

ABU DHABI, Nov 3 (Reuters) - Oil supply growth outside OPEC+ could decline by April, while demand remains robust, BP's (BP.L), opens new tab Chief Executive Murray Auchincloss said on Monday.

"There is a supply increase that's come outside of OPEC+," Auchincloss said. "We think that finishes in about February, March, April, and then it's likely that we see flat to declining production after that time period outside of OPEC+."

BP reportedly said on Sunday that it has successfully started production at the RW5 well in the Raven field offshore Egypt in the Mediterranean Sea, adding new production of 80 million cubic feet per day of gas to the West Nile Delta project.

This production is part of the additional well program in the Raven field, which is part of our activities to support Egypt's vision of meeting domestic energy demand, as well as enhancing BP's growth strategy in the region," Reuters quoted Nader Zaki, BP's Regional President for MENA, as saying.

The increase comes in parallel with the increased production of the RW4 well, bringing the total production of the two wells to approximately 140 million cubic feet per day since the beginning of the year.

Zaki added that BP recently contracted for a deepwater offshore drilling platform to drill five development and exploration wells in the Mediterranean. The drilling is expected to start in April 2026.

BP, the operator of the West Nile Delta facilities, holds an 82.75% stake in the project, while Harbor Energy owns 17.25%.

“It appears that Lord Milliband is trying to Bankrupt the UK by refusing to us UK Gas and Oil reserves...is he a a Chinese or Russian spy?”

Or maybe just an Idiot !

Thanks Spights

Hopefully it continues tomorrow and it’s not a case of getting good news out today before poor results tomorrow.

Shell,Exxon and Chevron all beat estimates so fingers crossed.

BP reportedly said on Sunday that it has successfully started production at the RW5 well in the Raven field offshore Egypt in the Mediterranean Sea, adding new production of 80 million cubic feet per day of gas to the West Nile Delta project.

This production is part of the additional well program in the Raven field, which is part of our activities to support Egypt's vision of meeting domestic energy demand, as well as enhancing BP's growth strategy in the region," Reuters quoted Nader Zaki, BP's Regional President for MENA, as saying.

The increase comes in parallel with the increased production of the RW4 well, bringing the total production of the two wells to approximately 140 million cubic feet per day since the beginning of the year.

Zaki added that BP recently contracted for a deepwater offshore drilling platform to drill five development and exploration wells in the Mediterranean. The drilling is expected to start in April 2026.

BP, the operator of the West Nile Delta facilities, holds an 82.75% stake in the project, while Harbor Energy owns 17.25%.

It is known, however, that BP did seek a joint venture with Shell's exploration bosses on a discovery off Brazil in an effort to lower its costs developing the oilfield.

Shell declined the offer – a decision it may now be regretting given the extent of the Brazilian find.

In an update last week Gordon Birrell, BP's vice president of production, was effusive about its scale, which was twice as large as previously thought.

The Brazil find is the biggest by BP in a quarter of a century and underpins the group's reputation for being among the world's leaders in oil exploration.

Investing.com -- BP PLC (LON:BP) has agreed to sell non-controlling interests in its US onshore midstream assets to private investor Sixth Street for $1.5 billion, the company announced Monday.

The transaction involves BP’s pipelines and facilities in the Eagle Ford and Permian basins, including four Permian central processing facilities: Grand Slam, Bingo, Checkmate and Crossroads. These assets connect wells to third-party pipeline systems that transport oil and gas to customers.

The deal is structured in two phases, with approximately $1 billion paid upon signing and the balance expected by the end of the year, subject to regulatory approvals.

Following completion, BP’s ownership interest in the Permian midstream assets will decrease to 51% from 100%, while its stake in the Eagle Ford midstream assets will reduce to 25% from 75%. Sixth Street will hold the remaining non-operating interests.

BP will maintain operatorship and control of all the assets despite the ownership changes.

Kyle Koontz, CEO of bpx energy, BP’s US onshore oil and gas business, said: "We recognized early on that investing in midstream would be an important ingredient to our success in these basins in terms of driving value, flow assurance, and lowering emissions. This transaction reinforces that we are on track to maximize the return on our investment."

The sale contributes significantly toward BP’s target of $20 billion in divestments by the end of 2027, which the company announced at its Capital Markets Update in February 2025.

The transaction is expected to increase non-controlling interest on BP’s balance sheet, with the effect on non-controlling interest reported in the income statement projected to be in the range of $100-$200 million per annum.

Sharecast News) - BP has sold its non-controlling interests in the Permian and Eagle Ford midstream of its US onshore oil and gas division for $1.5bn to funds managed by investment firm Sixth Street.

The onshore oil and gas business, bpx energy, will hold a 51% stake in the Permian assets and 25% in Eagle Ford after the deal, BP said on Monday.

Bpx will remain operator of all the assets.

What it does mean is Shell really missed a massive chance to get BP cheap.

But funny how these new numbers have come out in the days before results once again.

Last results were surprise to upside,hoping history repeats.

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large dip of 4 million barrels in the week ending October 24, when analysts had expected oil inventories to contract by a smaller 2.9 million barrels.

Gasoline inventories also saw a large decrease, of 6.3 million barrels in the week ending October 24, after losing 236,000 barrels in the week prior. As of last week, gasoline inventories were slightly below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories also fell in the reporting period, losing 4.4 million barrels, on top of the week prior’s 974,000-barrel drawdown. Distillate inventories were already 7% below the five-year average as of the week ending October 17, the latest EIA data shows.

Ginger will become bpTT’s fourth subsea development and will include four subsea wells and subsea trees tied back to bpTT’s existing Mahogany B platform. First gas from the project is expected in 2027 and will make up one of bp’s ten major projects expected to start up between 2025 and 2027. At peak, the development is expected to have the capacity to produce average gas production of 62 thousand barrels of oil equivalent per day.

The Ginger project is progressing well. Since project sanction earlier this year, work has focused on fabricating flexibles and umbilicals which will connect the wells to the Mahogany B and Juniper platforms, respectively. Work is also progressing on the subsea trees as well as the manifold. Drilling is due to start soon and will continue into 2026.

It is maintenance season,so should be using less crude.

But it would explain why gasoline, and diesel show a fall as will be producing less at present.

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a large dip of 4 million barrels in the week ending October 24, when analysts had expected oil inventories to contract by a smaller 2.9 million barrels.

Gasoline inventories also saw a large decrease, of 6.3 million barrels in the week ending October 24, after losing 236,000 barrels in the week prior. As of last week, gasoline inventories were slightly below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories also fell in the reporting period, losing 4.4 million barrels, on top of the week prior’s 974,000-barrel drawdown. Distillate inventories were already 7% below the five-year average as of the week ending October 17, the latest EIA data shows.

Wonder if we will hear anything either in the run up to results or next week at results day.

If nothing said it’s obviously going to come up at question time.

With these six start-ups delivered, bp is now looking to deliver four further developments through 2027 – two in the Gulf of America and two in Trinidad and Tobago. These projects are expected to further contribute to the growth of our oil and gas production.

In addition, we’ve also sanctioned major projects like the gas and carbon capture, utilization, and storage Ubadari project in Indonesia, and the deepwater Kaskida and Tiber-Guadalupe projects in the Gulf of America.

“What made these six projects this year a success was our commitment to safety, staying focused, managing risks thoughtfully, and making the most out of every pound we invest,” says Ewan. “Those are the principles we’ve kept front and centre, and they’ll continue to shape how we work on future projects.”

Hi Jakers

Yes there are a lot of incidents happening there.

We had a similar period at Grangemouth Refinery in the 80s .

Including several fatalities.

Not sure what’s behind it,some of it at Whiting have been weather related.

Some have been after maintenance,which is a big risk time.

But it’s something they will be targeting as the BOD will not be happy.

When things improve it’s often for no obvious reason, although something may have changed in the background.

Think when it was us at Grangemouth,we were having too many minor incidents,and they were becoming normal.It only takes one minor incident to escalate and you have a very bad problem.

I suspect some of the safety tech from Exporation will be imported in and may help.

But it needs addressed now

NEW YORK, Oct 24 (Reuters) - BP's (BP.L), opens new tab 440,000 barrel-per-day oil refinery in Whiting, Indiana, resumed operations on Friday after a outage prompted a temporary evacuation at the plant, the company said.

The refinery resumed operations after power was restored, BP said in a statement.

The outage was caused by a disruption to electrical service that occurred outside of the facility this morning, the refiner said. All personnel have returned to the plant.

BP was in the process of bringing its 110,000 bpd fluid catalytic cracking unit online, according to industry monitor IIR Energy.

A fire broke out after an operational incident at the Whiting refinery last week. Multiple units were taken offline due to the blaze.

A spokesperson declined to provide details on the restart process.

In mid-September, the refinery started planned maintenance work on its units, including the crude processing unit and fluid catalytic cracker. The planned turnaround was expected to last for two months.

You can see this shift in how BP has handled asset sales, such as selling off parts of the North Sea or leaving some wind projects behind. The new chair is also pushing for urgency on cost control. BP recently approved big new projects, like the Tiber-Guadalupe project in the Gulf of America, and is getting involved in new gas activity, such as projects in Egypt and joint ventures in Angola. At the same time, they’ve decided not to move forward with things like the Netherlands biofuels plant and have walked away from other small renewable projects that didn’t seem worth it.

If you ask me, this isn’t about BP giving up. It’s about picking the right battles and sticking with what works. Selling off things that don’t fit and only saying yes to the best projects helps BP keep more cash and stay steady, even if sales growth is a little slower. This sets the stage for stronger dividends and more buybacks down the road. I think this strategy makes sense for the long haul.

BP entered the Karabagh project in June this year after buying a 35% participating interest in the risk service agreement (RSA) from Azerbaijani state oil and gas player Socar, and becoming the operator of the block. An affiliate of Socar has the remaining 65% shareholding in the Karabagh RSA.

Series of attempts

Discovered in 1959, the Karabagh field was initially explored by the Caspian International Petroleum Company (CIPC) consortium in the second half of the 1990s.

Exploration wells drilled in 1997 and 1998 confirmed the presence of oil and gas reserves in the Karabagh structure, with the productive layers located approximately 3400 metres beneath the seabed, according to the company.

The CIPCO consortium — consisting of LukAgip, a venture between Russia's Lukoil and Italy’s Agip (now part of Eni); US Pennzoil; Lukoil; and Socar — spudded three wildcats at the acreage but never proceeded to the development phase.

The project was revived in 2018 when Equinor took over as operator. Equinor, formerly Socar’s partner in the project, drilled one more discovery well on the Karabagh block in 2019 which put total estimated in-place reserves at 450 million barrels of oil.

However, the Covid-19 pandemic undermined the Norwegian player's plans to move the project to execution and it sold its 50% stake in Karabagh to Socar in December 2023 when the company fully exited its operations in Azerbaijan.

Despite the previous failed attempts, Ilham Shaban, a partner at Baku-based energy consultancy Caspian Barrel, told Upstream that he expects BP to successfully bring Karabagh to the development phase given the excellent estimated returns from the project.

Shaban said that the Karabagh geological structure is similar to the one at the Azeri–Chiraq–Guneshli where BP is the operator with a stake of over 30%.