August 24, 2006 |
Production at BP's Prudhoe Bay oil field was reduced by an additional 90,000 barrels a day when a problem was discovered in a compressor, the company said. That cut production at Prudhoe Bay from an already reduced 200,000 barrels to 110,000 barrels, BP Alaska spokesman Daren Beaudo said. It probably will take several days to complete the repairs, he said.
July 19, 2006 |
British oil company BP will close 12 oil wells on the North Slope as a precaution after whistleblowers alleged more than 50 were leaking. The wells were being shut down Tuesday, BP spokesman Darren Beaudo said in Anchorage. The action came after workers allegedly told the Financial Times of London of the leaks. The newspaper first reported the shutdowns on its website. Most of the shuttered wells were in Prudhoe Bay, Beaudo told the Associated Press.
September 21, 2006 |
Venezuela's tax agency has billed the local subsidiaries of Chevron Corp. and BP a combined $56.6 million, saying the amount represented unpaid income tax for fiscal 2005. Chevron was billed $19.4 million and has 15 days to refile its 2005 taxes as well as pay a fine of 10% of the sum it owes, the agency said. The tax agency said BP owed $37.2 million for the same year.
February 6, 2008 |
BP, whose brands include Arco, reported a 53% rise in fourth-quarter profit Tuesday as oil prices surged, but full-year earnings fell because of refining outages and rising costs. The oil giant also unveiled a more generous dividend policy and plans to speed up restructuring and cost cutting. BP said net income in the fourth quarter rose to $4.4 billion from $2.88 billion a year earlier. Revenue, including asset disposals, rose to $81.5 billion from $62.8 billion. Full-year profit fell 5.
January 13, 2007 |
BP's chief executive is stepping down by the end of July -- more than a year ahead of schedule -- after a series of high-profile problems including a deadly refinery blast in Texas and a giant oil spill in Alaska tarnished the image of one of the world's largest oil companies. BP said Friday that Chief Executive John Browne, 58, would be succeeded by Tony Hayward, the head of exploration and production. Hayward, 49, who will take over Aug.
August 18, 2006 |
U.S. pipeline regulators will propose in coming weeks rules aimed at preventing runaway pipeline corrosion that plagued Prudhoe Bay oil field in Alaska. Thomas Barrett, head of the Transportation Department's Pipeline Safety Administration, said he would soon propose rules to regulate some low-stress lines in rural areas, including London-based BP's Prudhoe Bay lines. Current pipeline regulations exempt those lines from oversight.
July 26, 2006 |
Soaring oil and gasoline prices propelled BP to a $7.3-billion net income in the second quarter, a 30% increase from last year despite reduced output and rising costs. BP's performance exceeded the expectations of Wall Street analysts, who forecast that second-quarter profits from the world's six largest publicly traded oil companies will surpass $36 billion. The next major integrated oil company to release quarterly earnings is ConocoPhillips. Its results are expected today.
October 25, 2006 |
Oil giant BP said Tuesday that its third-quarter profit declined 3.6%, slumping on lost Alaskan production, higher taxes in Britain and a sharp drop in gasoline prices. BP, which has experienced a run of difficulties in the United States, also lowered its average daily oil production forecast for 2006 because of asset sales and snags at several oil fields. The first of the major oil companies to report quarterly earnings this week, BP said net income for the three months ended Sept.
September 1, 2006 |
BP is aiming to restart oil production in the eastern half of Alaska's Prudhoe Bay oil field by the end of September, sources familiar with the company's plans said Thursday. Plans call for a partial restart of a pipeline that connects with the Trans-Alaska Pipeline's Flow Station 1, allowing up to half of the 200,000 barrels a day of lost production to begin flowing again. Prudhoe Bay normally supplies about 400,000 barrels daily, or 8% of U.S.
October 14, 2004 |
BP, Europe's biggest oil company, and partners in Indonesia's Tangguh liquefied natural gas project will start to deliver as much as 3.7 million metric tons of the fuel to Sempra Energy in Mexico in 2008, Indonesia's oil and gas regulator said. BP and San Diego-based Sempra have signed a 20-year sales contract. The LNG, which is natural gas chilled to liquid form so that it can be transported on a ship, will be delivered to Sempra's planned terminal near Ensenada in Baja California.