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Natural Gas Said ‘Part of the Solution’ as Biden Pledges to Halve US GHG Emissions

Natural Gas Said ‘Part of the Solution’ as Biden Pledges to Halve US GHG Emissions

Energy stakeholders endorsed President Biden’s strengthening of U.S. climate change commitments on Thursday, but they also stressed the importance of natural gas in achieving deep decarbonization of the economy. Biden said Thursday the United States will target a 50-52% reduction in economy-wide greenhouse gas (GHG) pollution by 2030 versus 2005 levels. The announcement, made during…

April 23, 2021
BP Hitting Grand Slam in Reducing Permian Emissions by Switching to Electricity from Natural Gas

BP Hitting Grand Slam in Reducing Permian Emissions by Switching to Electricity from Natural Gas

BP plc, which is aiming to eliminate natural gas flaring in the Lower 48 by 2025 on its transition to becoming a zero-emissions producer, said it has taken a big step toward that goal with a state-of-the-art facility in the Permian Basin. The electrified Grand Slam facility near Orla, TX, is a central oil, gas…

April 21, 2021
BP Strikes Oil in Deepwater Puma West Prospect Near Mad Dog

BP Strikes Oil in Deepwater Puma West Prospect Near Mad Dog

BP plc said it has struck oil at the Puma West prospect offshore Louisiana near its Mad Dog platform in the deepwater Gulf of Mexico (GOM).  The well in Green Canyon Block 821 was drilled by BP, operator and owner of the block, on behalf of co-owners Chevron U.S.A. Inc. and Talos Energy Inc., each…

April 14, 2021
BP Giving Chinese Customers Direct Link to LNG Imports

BP Giving Chinese Customers Direct Link to LNG Imports

BP plc has started to link downstream customers in China with liquefied natural gas (LNG) imports, creating a fully integrated supply chain in a country that continues to lead the world in energy consumption growth.  The first LNG cargo delivered under BP’s new terminal usage agreement arrived over the weekend at the Guangdong Dapeng LNG…

January 26, 2021
BP Looks to Haynesville on Rising Henry Hub Natural Gas Prices, LNG Export Outlook

BP Looks to Haynesville on Rising Henry Hub Natural Gas Prices, LNG Export Outlook

BP plc has no plans to veer off an objective to reach net-zero emissions by 2050, but natural gas and oil continue to be the “engine” driving the company in the near term, CEO Bernard Looney said Tuesday. Looney and CFO Murray Auchincloss held a wide-ranging conference call to share third quarter results. BP’s global…

October 27, 2020
BP Looking Beyond Petroleum — Again — as Low-Carbon Opportunities Beckon

BP Looking Beyond Petroleum — Again — as Low-Carbon Opportunities Beckon

BP plc turned the investor world on its head Tuesday with a revamped strategy to slash oil and natural gas production while pouring billions into low-carbon investments. CEO Bernard Looney, during a lengthy conference call with top executives, further outlined the strategy that he had first unveiled in February, to put the company on a…

August 4, 2020

The Offtake: LNG in Brief

A roundup of news and commentary from NGI’s LNG Insight BP plc has agreed to supply Chinese utility Foran Energy with 300,000 metric tons/year of regasified LNG beginning in 2021. The LNG would arrive at Guangdong Dapeng LNG import terminal, where BP has a stake. The deal follows a similar one BP signed earlier this…

July 29, 2020
Eni’s Bashrush Natural Gas Well Builds Eastern Med Export Potential

Eni’s Bashrush Natural Gas Well Builds Eastern Med Export Potential

Eni SpA, together with partners BP plc and Total SE, said they have successfully tested a well drilled on the Bashrush prospect offshore Egypt, expanding the possibility for exports to thirsty ports. Bashrush is in the Eastern Mediterranean (Med) within the North El Hammad concession, in the Nile Delta. Seven miles from the coast, the…

July 29, 2020
BP Inks Deal to Supply, Regasify LNG for China’s ENN Group

BP Inks Deal to Supply, Regasify LNG for China’s ENN Group

BP plc. has signed a first-of-its-kind deal with one of China’s largest privately-owned energy companies to supply LNG and regasify it at an import terminal.  Under the supply agreement, BP would provide 300,000 metric tons of regasified LNG to ENN Group for two years beginning Jan. 1, 2021. The LNG would be received and regasified…

July 9, 2020
Hilcorp Taking Over BP’s Legacy Alaska Upstream Portfolio

Hilcorp Taking Over BP’s Legacy Alaska Upstream Portfolio

Houston’s Hilcorp Energy Co. has completed a takeover of BP plc’s upstream portfolio in Alaska and is nearing a handoff of the midstream unit, allowing the private explorer to become one of the state’s biggest operators. The $5.6 billion deal struck last year with BP hands affiliate Hilcorp Alaska immediate control of BP Exploration (Alaska)…

July 2, 2020
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