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BP begins promised major oil and gas project start-ups

Oil & Gas 360º

Cypre is one of BPs 10 major projects expected to start up worldwide between 2025 and 2027, announced as part the reset strategy to grow upstream production. Just after teasing in February that a major strategy reset is coming, BP announced the start of production from the second development phase of the Raven field offshore Egypt.

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Argentina, Eni Ink Deal for Vaca Muerta Gas Export

Rigzone

Image by Emiliano Ortiz via iStock Italy’s Eni SpA and Argentina’s YPF SA have signed an agreement to build a liquefaction facility to enable the export of natural gas from the Vaca Muerta field in the South American country. The capacity is planned to grow to up to 30 million tons per annum (MMtpa) by 2030.

Gas 105
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Shell CEO seen focusing on LNG as key part of growth strategy

Oil & Gas 360º

Oil reserves Analysts have questions over Shells long-term oil resources, particularly how little output growth the company has locked in beyond 2030. In the upstream, the key question mark is the liquids portfolio, RBC Europe Ltd.s Biraj Borkhataria said in a note. As rivals like Chevron Corp. and Exxon Mobil Corp.

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Hoegh Evi, Aker BP Get DNV Initial Approval for CO2 Carrier Design

Rigzone

Project Greensand aims to store 400,000 metric tons per annum of CO2, with plans to ramp up to as much as eight million metric tons annually by 2030. It had its demonstration March 2023 when it injected CO2 transported from Belgium into the Nini field on Denmark’s side of the North Sea.

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BP Enters Into Series of Azerbaijan Deals

Rigzone

“These agreements represent progress against BP’s strategy to grow long-term shareholder value, contributing to its goal of growing its upstream business, as well as underlining BP’s continuing commitment to Azerbaijan,” BP continued.

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Oil Review Middle East - Untitled Article

Oil Review Middle East

Rystad forecasts QatarEnergy will invest between US$14-15bn per year over the next few years as it continues to invest heavily in the North Field gas field and expanding LNG capacity, while ADNOCs expenditure, which reached US$5.7bn last year, is forecast to increase given its target of 5mn bpd production capacity by 2027.

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BP and Chevron Hit Oil in Deepwater Gulf of America

Rextag

The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. million barrels of oil equivalent per day globally by 2030, with approximately 1 million barrels expected from the U.S.

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