February 22, 2011

BP announced today the intention of selling its interests in a number of operated oil and gas fields in the UK. The assets involved are the Wytch Farm onshore oilfield in Dorset and all of BP’s operated gas fields in the Southern North Sea, including associated pipeline infrastructure and the Dimlington terminal.

BP anticipates that the staff currently working on these assets will transfer employment to the new buyer when the divestments are completed.

February 22, 2011

BP Plc’s partner in a proposed Australian solar power project said BNP Paribas, Banco Santander SA and National Australia Bank Ltd. are among eight banks that have agreed to help finance the venture.

The 150-megawatt solar project in New South Wales state, one of the developments competing for Australian government funding, may cost as much as A$900 million ($905 million) over its lifetime, Fotowatio Renewable Ventures said.

February 17, 2011 - A wave of anti-government protests in several Middle East countries has driven crude prices to their highest levels in more than two years, North Sea Brent climbing above $104/barrel this week.

But, despite the fact that prices have risen by some $14/b since its early December meeting in Ecuador, OPEC has given no indication that it is concerned about the upward trajectory. Indeed, it insists that the climb has little to do with fundamentals of supply and demand.

NEW YORK (AP) — A group of oil companies led by Exxon said Thursday it has built a system that can stop an undersea oil spill within weeks, a critical step towards resuming drilling in the deepest parts of the Gulf of Mexico.

The group said its combination of equipment and support vessels can contain a spill similar to BP's massive gusher, which took almost three months to plug. Some of the equipment was used by BP in containing its well blowout last year.