Exploration - 27 July 2010

BP has taken a pre-tax charge of US$ 32.2 billion for the Gulf of Mexico oil spill, including the US$ 20 billion escrow compensation fund previously announced.

BP has announced that Tony Hayward is to step down as group Chief Executive with effect from 1 October, 2010. He will be succeeded as of that date by fellow Executive Director Robert Dudley.

Anadarko have discovered oil in an exploratory well in the Owo prospect offshore Ghana.

The University of Aberdeen and global energy group Halliburton have signed a strategic partnership agreement.

Murphy Oil will sell three oil refineries and focus on its upstream and retail businesses in the US.