BP

BP agreed 1 year ago to sell its interests to Premier Oil for $625 million. The companies later restructured the deal and BP lowered its cash value to $210 million. The transaction fell through after Premier was taken over by Chrysaor in October 2020.

BP was the only operator to place a bid in the Canada-Newfoundland and Labrador Offshore Petroleum Board call for bids, which offered 17 parcels in the eastern Newfoundland region.

A recent panel discussion highlighted the industry’s progress in achieving significant digital advances. Barriers remain, however, and the measurement of success is being defined in this evolving technological step change.

Two of Europe’s biggest oil companies urged Texas regulators to end the routine flaring of natural gas, joining with large investors who want greater oversight of the harmful environmental practice.

The tech giant and supermajor have been working on cloud solutions already, but in a new agreement, they will combine their talents to create new technologies for oil and gas as well as energy consumers.

This year’s outlook contains scenarios that suggest peak demand has already arrived because of a global pandemic and an accelerating energy transition.

Two of Europe’s largest oil and gas producers will lead four offshore wind projects that together have the potential of powering 2 million homes.

Supermajor announces actions to achieve net-zero ambition and reshape business. It also noted that it will not seek to explore in countries where it does not already have upstream activities.

The deal follows BP’s divestment of its global petrochemicals business in late June.

The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.