Just days after outlining its business strategy BP is offering a massive $7 billion in cash to buy Devon Energy’s deepwater assets.
In a broad-ranging deal, BP will pay Devon Energy $7 billion for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico.
Interestingly the deal also involves extraction of the oil sands. BP will [...]

Pardon the title, but the Wall Street Journal has an extremely interesting interview with the top dog at Shell, Peter Voser.
He admits that Shell is fast becoming a gas company rather than an oil company. “Shell started quite a while back, actually, to put a lot of emphasis on gas” says Voser. “And by 2012, [...]

The headlines from BP’s Strategy presentation yesterday are all about how chief executive Tony Hayward  promised to boost annual profits by $3bn over the next two or three years.
In a frank admission, Hayward said that BP’s financial importance over the last few years had not been acceptable and had “some catching up to do.”

We are getting really mixed messages over what will come first: peak oil or peak supply.
First of this week was BP saying global peak oil demand will happen sometime between 2020 and 2030.
Then we had the UK Industry Task-Force on Peak Oil and Energy Security which published a report entitled “The Oil Crunch - a [...]

BP may think that a demand crunch will happen before a supply crunch.
But others disagree. Today, six UK leading companies have launched the second report of the UK Industry Task-Force on Peak Oil and Energy Security.
The report, entitled “The Oil Crunch - a wake-up call for the UK economy”, argues that oil shortages, insecurity of [...]