Despite “Deepwater” BP Bets on More Deepwater

July 21, 2010By Andy RowellBlog Post

British Prime Minister David Cameron came out batting for BP in Washington yesterday as he tried to “shield” the company over the allegations that BP lobbied for the release of the Lockerbie bomber. But more importantly, he warned US Senators not to “single out” BP over legislation that might ban BP from drilling in the … Read More

Now for the Static Kill…

July 20, 2010By Andy RowellBlog Post

If Plan A doesn’t work, try Plan B or C or D or… BP is quite happily chewing through the alphabet of options, with the latest being what is called a “static kill,” in which heavy mud would be pumped into the recently capped well, to try and finally block the oil. So we have … Read More

Senators Accuse BP of “Blood Money” Handouts

July 15, 2010By Andy RowellBlog Post

For many in America, BP has been public enemy number one since the Deepwater disaster started on April 20th. It’s not only the disaster itself, but the way BP has handled itself before and since then that has added to the palatable anger. The failure by the company to stop the spill, the public gaffes … Read More

From Seven Sisters to One Super-Major?

July 12, 2010By Andy RowellBlog Post

Obama’s presidential Commission into the oil spill starts today and already the focus seems to be about how to improve safety offshore for future drilling in light of the BP disaster. That means the focus is how to drill offshore rather than whether to drill offshore. That is a huge difference. The Commission is unique … Read More

BP: A Good Value for “Bargain Hunters”?

July 6, 2010By Andy RowellBlog Post

David Cameron’s government is now said to be preparing for the worst: that BP will collapse and be broken up. One way that could be avoided is if key investors buy large chunks of the stricken oil giant. But one option might be just as unpalatable to the British as BP being broken up: the … Read More

Will BP’s Partners Cough up $400 Million?

July 5, 2010By Andy RowellBlog Post

As the clean-up cost for BP’s spill surpasses $3 billion, BP has demanded that its partners to pay about thirteen per cent of the costs so far or $400m. The demands were sent to Deepwater Horizon partners Anadarko – that owns 25 per cent of the well – and Japan’s Mitsui Oil Exploration that owns … Read More

BP’s Future Now Depends on Iraq

July 1, 2010By Andy RowellBlog Post

It is no coincidence that on “Tony’s Tour to Rebuild BP’s Battered Reputation”, its CEO Tony Hayward will visit China next week. BP may be getting a kicking in America, but China and Russia remain central to its plans. BP’s embattled chief executive has already met Igor Sechin, Russia’s Deputy Prime Minister, in Moscow on … Read More

BP’s Long Term Business Strategy in Chaos..

June 29, 2010By Andy RowellBlog Post

A BP presentation to investors from March 2010 – a month before Deepwater – is doing the rounds on the net after being picked up by Propublica. In fact the presentation to analysts is on BP’s own website. The presentation shows how so much has changed for BP since the disaster – and if nothing … Read More

Industry Steps Up Pro-Offshore Drilling Campaign

June 22, 2010By Andy RowellBlog Post

To pardon the pun, but the tide is turning. Soon everything could be back to normal. There is an aggressive lobbying campaign by the oil industry to overturn Obama’s offshore drilling moratorium, despite the fact that opposition of offshore drilling continues to rise. Part of the industry campaign is to argue that support for offshore … Read More