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Energy company BP says 2Q earnings fell 45 percent

BP Q2 earnings

LONDON (AP) — BP’s second-quarter earnings fell 45 percent as lower oil prices hit the British energy company. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, fell to $720 million from $1.3 billion in the same quarter a year earlier, the company said in a statement released Tuesday. BP’s net loss narrowed to ...

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Authorities: No injuries reported in plant explosion, fire

Two explosions and a fire rocked a natural gas plant in southern Mississippi on Monday night, but no one was injured and flames continued for hours Tuesday, authorities said. Emergency Management Director Early Etheridge in Jackson County said the first explosion occurred at 11:30 p.m. and was followed by a larger explosion minutes later. Etheridge said the second blast could ...

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Group sues Interior Department over deep-sea well permits

Group sues Interior Department over deep-sea well permits

NEW ORLEANS (AP) — An environmental group sued the Interior Department on Wednesday for what it called the “fast track” permitting of potentially dangerous oil and natural gas wells in offshore waters. The action came on the sixth anniversary of the nation’s largest offshore oil spill. The federal lawsuit, filed by the California-based Center for Biological Diversity in Washington, D.C., ...

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Oil majors show interest in Mexico’s offshore auction

Oil majors show interest in Mexico's offshore auction

Mexico’s forthcoming auction of offshore oil and gas fields is drawing significant interest, according to a report by Fuel Fix. So far, 21 companies have asked to review data on fields within Mexico’s territorial waters in the Gulf of Mexico. Major oil companies, such as ExxonMobil, BP, and Chevron, have expressed interest in the available fields. The country will auction ...

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BP chief suffers shareholder revolt over $20M pay pack

LONDON (AP) — British energy producer BP has suffered a revolt by shareholders who objected Thursday to increasing Chief Executive Bob Dudley’s pay package by 20 percent after profit plunged last year. Almost 60 percent of shareholders rejected the remuneration report, which awarded Dudley a $19.6 million pay package even though the company experienced a drop in profit and planned ...

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More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

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Attackers fire rockets at gas facility in Algerian Sahara

Attackers fire rockets at gas facility in Algerian Sahara

ALGIERS, Algeria (AP) — Unknown attackers fired rockets at a gas facility in the Sahara Desert in Algeria on Friday, energy groups Statoil and BP said. There were no immediate reports of injuries. A local official in Algeria said the assailants fired homemade rocket launchers around 6 a.m. at the Krechba gas facility, jointly operated with Norway-based Statoil and Britain-based ...

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