Exploration

BP has started to scale back its clean-up operations but there is still disagreement about how much more work is necessary.

BP is selling its gas, exploration and processing business in Colombia to a consortium of Ecopetrol and Talisman.

Ecuador has pledged not to drill for oil in an area of pristine Amazon rainforest in exchange for US$ 3.6 billion worth of payments.

BP has announced that the MC252 well appears to have reached a static condition. The well pressure is now being controlled by the hydrostatic pressure of the drilling mud, which is the desired outcome of the static kill procedure carried out.

Ultra Green has unveiled new technology that can potentially clean up the majority of the estimated 4 million bbls of oil spilled in the Gulf of Mexico by the end of September.

Infield Systems Ltd considers how the shockwaves of the Deepwater Horizon incident will be felt across the deepwater sector.

NPRA’s Drevna comments on National Journal’s Energy & Environment blog.

In spite of the furore over the Macondo spill, deepwater drilling is continuing unabated in Africa.

The most recent EIC Monitor which tracks new energy projects has found that though there has been significant investment in the sector, total investment is still down 6% since the same quarter last year.

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.

Power shortages in France could have a knock-on effect on the UK energy market due to cross channel ownership of UK power stations.