BP news

OGUK's Chief Executive Deirdre Michie has urged the UK government to protect jobs and create new business opportunities in the energy regions of the UK.

Premier Oil will pay BP a reduced fee of US$210 million for the Andrew Area and Shearwater assets.

InteractivAI, powered by Bluware's Volume Data Store cloud-native data environment, enables the acceleration of detailed interpretation tasks.

The global framework agreements are conceptual engineering and for early engineering and FEED services.

Petrofac has been awarded a three-year extension to its existing maintenance contract with BP and a new four-year metering contract.

BP has reported an underlying replacement cost profit of US$0.8 billion, compared with US$2.4 billion for 1Q19.

BP and Hilcorp have successfully renegotiated the financial terms of the deal to respond to the current environment.

The consideration for the disposal is US$15 million, subject to a retention sum of US$1.7 million.

BP has cut its 2020 spending plans by 25% and will reduce output from its US shale oil and gas business.

Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.