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Tag Archives: BP

Study shows more extensive coral damage related to BP spill

NEW ORLEANS — Gulf coral damage from the massive BP oil spill is more extensive than previously thought, according to a new study that revealed sick and dying corals in the rich, deep-water environment off the coasts of Alabama and Mississippi known as the Pinnacles. Using remotely operated submarines, researchers explored the Pinnacle Reef in September 2011 and found more ...

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BP signs $10 bln gas supply deal with China’s Huadian

LONDON – Oil major BP has signed a $10 billion liquefied natural gas (LNG) supply deal with China’s Huadian power producer, sealing the agreement as part of Chinese President Xi Jinping’s state visit to Britain. BP will supply up to 1 million tonnes of LNG per year over 20 years to Huadian, China’s largest gas-fired power generator. The oil major ...

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U.S. “oil trade king,” BP’s Porteous, to retire

LONDON – One of the world’s most powerful and best-paid oil traders, BP’s head of crude Donald Porteous, will retire from the company in 2016 after what industry sources described as several years of bumper profits. Porteous, in his early 40s, is dubbed in the industry as “The King of Cushing,” the United States’ main oil trading hub, where BP ...

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Trafigura replicates its oil market tactics to dominate LNG

LONDON/MILAN – Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning liquefied natural gas (LNG) sector. Oil traders usually act as a go-between for producers and end users, investing in logistics and storage to facilitate trade, while also providing credit and shouldering risk for their customers. ...

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BP restarts part of Indiana oil refinery after repairs

SOUTH BEND, Ind. — A large Indiana oil refinery whose unplanned shutdown for repairs earlier this month caused gasoline prices in the Great Lakes region to spike restarted Tuesday, leading experts to predict a quick drop in prices. BP issued a news release Tuesday saying it has safely restarted a large crude distillation unit at its refinery in Whiting, 15 ...

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BP settlement money flows to governments in far-flung places

BATON ROUGE, La. — Clusters of landlocked municipalities more than 100 miles from the Gulf Coast have secured millions of dollars in BP money through settlements designed to compensate local governments for lost tourism dollars and other economic damage from the company’s 2010 oil spill, according to records obtained by The Associated Press. This week, BP finished making approximately $687.4 ...

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7 gifs from the oil field that prove even Joe Pesci couldn’t do the job oil

Without question, the oil and gas industry ranks among of the most tiring, intense and sometimes, dangerous fields of work. Flammable explosives are products at hand and the equipment used in the business looks more like industrial torture devices. It’s these elements that make oil and gas a prime candidate for internet insanity. Here are seven gifs birthed from the ...

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