BP news

BP has reported a record US$6.7 billion (£5.12 billion) loss in 2Q20.

The acquisitions remain conditional on agreeing the terms of the refinancing of Premier’s existing credit facilities, equity funding and customary other approvals, including shareholder approval.

BP invests US$5 million in a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes.

The African Energy Chamber has said that the ongoing travel bans and restrictions of visa issuance are preventing many projects from moving forward and contributing to the recovery of the continent.

Premier Oil has also said it will not be pursuing the purchase of the additional 25% interest in the Tolmount gas field from Dana Petroleum.

The exploration well drilled by Eni is located in the North El Hammad licence in the Nile Delta.

19 companies, including ExxonMobil, BP, Total, Shell, Equinor, Petrobras and PetroChina, have been approved by Guyana's government for the next phase of the selection process.

The prediction comes as a result of the company's expectation of weak demand for energy for a prolonged period and a faster transition away from fossil fuels due to the ongoing Covid-19 pandemic.

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.