A scathing report will be released today that criticizes safety and management practices at BP’s American operations, after an investigation at a Texas refinery nearly two years ago which killed 15 people and injured more than 170 others. The report, by James Baker, the former US Secretary of State, will state: “BP has not always … Read More
refining
Persian Gulf Needs Over $500bn in Oil Investment
The Persian Gulf states need to pump $523 billion over the next 25 years in exploration and production to meet a steady growth in global demand, according to the Abu Dhabi-based Emirates Centre for Strategic Studies and Research in a new book.
BP Punished By Investors
BP’s shares have declined by over 3 per cent this morning on the news that its oil and gas production fell further than expected in the past three months, partly as a result of its beleaguered Alaskan operations. The news pulled the whole British energy sector down by more than 1%.
BP Slashed Budgets, Despite Safety Warnings
The scale of BP’s safety problems have been highlighted with the publication of the U.S. Chemical Safety and Hazard Investigation Board’s (CSB) preliminary findings into the company’s Texas refinery fire that killed fifteen people. The Board found that top officials at BP allowed widespread budget cuts at the refinery even though they were well aware … Read More
Carlyle Group Eyes Libya
US companies are thinking of moving back into the Libyan oil and gas market. US private equity giant Carlyle is in talks to acquire Libya’s state-controlled oil refining and marketing operation, Tamoil. Al-Saadi Gaddafi, the son of Colonel Muammar Gaddafi, has confirmed that Carlyle is one of four or five groups involved in an international … Read More