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Tag Archives: BP Plc

BP says exploring sale of Alabama petrochemical plant

BP Plc said on Tuesday it was exploring the sale of a petrochemical plant in Decatur, Alabama as part of a restructuring of its petrochemicals business. The announcement comes a month after BP announced a third round of spending cuts and asset sales as it attempts to deal with extended period of low oil prices and raise cash to help ...

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Shell removing non-essential workers from Gulf of Mexico

HOUSTON – Leading Gulf of Mexico oil producer Shell Oil Co, the U.S. arm of Royal Dutch Shell Plc , said it was removing non-essential workers from offshore platforms as a precautionary measure ahead of a low-pressure storm system given an 80 percent chance of becoming a tropical cyclone in the next 48 hours. Shell said there would be no ...

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Husky Energy expects spending to drop by a third in 2015

Dec 17 – Husky Energy Inc, Canada’s No. 3 integrated oil company, said it expects its capital spending to drop by a third in 2015 compared with 2014, becoming the latest Canadian producer to scale back spending as oil prices fall. Husky, controlled by Hong Kong billionaire Li Ka-shing, said it would spend about C$3.4 billion ($2.9 billion) in 2015, ...

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Wood Group purchases Swaggart Brothers

business deal handshake

The international energy services company, Wood Group, has announced its latest acquisition and its largest contract award of 2014. On December 11, Wood Group announced its acquisition of Swaggart Brothers for an initial price of $36.3 million, along with an additional payment in 2017 based upon future performance. Swaggart Brothers, based out of Oregon, is a provider of civil construction ...

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Enbridge Energy cuts jobs at midstream unit

Enbridge Energy Partners LP is the next company in line to announce job cuts this year. According to the Houston Chronicle, in hopes to help cut costs, Enbridge Energy Partners is cutting jobs in its domestic gas pipelines and processing business unit.  The company cut less than 100 jobs. The job cuts will impact the company’s midstream unit, Midcoast Energy Partners LP, a  limited ...

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BP says Whiting refinery still in production after fire

Reuters HOUSTON – BP Plc <BP.L> said its largest U.S. refinery, at Whiting, Indiana, continued to operate on Thursday morning following a blaze the night before that was expected to have a minimal impact on production. One worker was taken to an area hospital for treatment, but was later released, the company said. BP said operations at the 413,500 barrel ...

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Texas families affected reflect on rig explosion

bp deepwater horizen

Jessica Priest | The Victoria Advocate (Victoria, Texas) More than four years after a Yorktown man was killed in a Deepwater Horizon rig explosion, his family is unwavering — BP was responsible. Adam Weise, 24, who worked for Transocean, was about to end his two-week-long work schedule on the rig in the Gulf of Mexico. “In 20 minutes, he would’ve been ...

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Draft Mexican energy law calls for higher local content level

MEXICO CITY, June 7 (Reuters) – Mexican lawmakers aim to set higher minimum requirements than first planned for how much local labor and materials companies investing in the oil and gas industry must use, according to a revised draft of pending legislation. Mexico’s Congress is in the process of approving so-called secondary laws to implement the government’s December 2013 energy reform, ...

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BP to appeal Gulf oil spill payment ruling to U.S. Supreme Court

By Jonathan Stempel May 21 (Reuters) – BP Plc, seeking to limit costs related to the 2010 Gulf of Mexico oil spill, said it would ask the U.S. Supreme Court to review whether it must pay some businesses for economic damages without proof that the spill caused such losses. The British oil company will appeal Monday’s decision by the 5th U.S. Circuit ...

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