BP

BP's Technical Expertise Likely to Work Wonders for RIL

BP's Technical Expertise Likely to Work Wonders for RILThe Reliance Industries Ltd. on Friday received the much-needed government approval for its proposed $7.2 billion asset sale to BP PLC.

The approval is likely to blossom the way for the largest venture of the UK oil behemoth in the South Asian nation.

BP-Reliance partnership will source and market natural gas across India

BP-Reliance partnership will source and market natural gas across IndiaThree months back, in February, Reliance had decided to enter into a deal with BP in which Reliance agreed to sell its stake in 23 of its oil and natural gas blocks, including some in the KG basin to BO for USD 7.2 billion. It is expected that Reliance would be benefited from BP's deepwater exploration expertise.

Agreement between Reliance Industries and BP

Agreement between Reliance Industries and BP

On Monday, Mukesh Ambani-led Reliance Industries (RIL) has said that London-based global energy major BP will buy a 30-percent stake in RIL. It will take control of its 23 oil and gas blocks for a huge sum of $7.2 billion.

Ambani and Robert Dudley, the chief executive of BP Group, formerly called British Petroleum has signed this deal in London.

This agreement will constitute one of the largest sole foreign through investment proposals for India.

Efforts at Recovery do not meet BP’s promises

Efforts at Recovery do not meet BP’s promises

Over the last 77 days since the start of the oil spill at the Deepwater Horizon oil rig, BP has just burnt or skimmed 60% of the volume of the oil that it had promised the regulators, it will remove in one day. The wide gap between the promises made by BP in a filing on March 24th and the actual recovery of oil since 20th April explosion, has shown according to some environmentalists and officials, that this is a misleading numbers game that is causing widespread confusion over the extent of oil spill and the status of recovery going on currently.

Oil spills set to affect more than just the Gulf coast

Oil spills set to affect more than just the Gulf coast

This is not a spill, but a national crisis. Philadelphia Mayor Mike Nutter, one of many mayors who participated from across the country, clearly framed the dimension of this crisis. “A spill is something that happens with a glass of water or milk. This is a catastrophe. We must understand that this is a major national disaster, not simply a disaster for the Gulf Region. What happens to one of us happens to all of us, and we must band together especially in times of great challenge.”

BP Oil Collection Efforts Likely to be Stalled by 6 Foot Waves

BP Oil Collection Efforts Likely to be Stalled by 6 Foot Waves

6 feet or 1.8 meters high waves off the coast of Louisiana may continue for most of this week obstructing the collection efforts of BP Plc of oil that has been leaking from a well in the Mexican gulf. The wave heights are expected to have an average of 3 - 6 feet impacting the area around that Gulf that includes the Macondo well of BP. This information was provided by the Weather Service yesterday on its own website.

BP spend cut fears prompt IT share decline

BP spend cut fears prompt IT share decline

News that BP (British Petroleum) would cut it’s spending on information technology (IT) prompted shares of Indian software majors today plunged into red. Tata Consultancy Services (TCS) was down 0.41 per cent, Infosys and Wipro shed 0.07 and 1.23 per cent, respectively on the Bombay Stock Exchange (BSE).

Experts believe boycotting BP is impossible

Experts believe boycotting BP is impossible

Many residents are unhappy with how BP has handled with giant oil spill off the Gulf of Mexico. Jesse Torres a sport fisherman of the region said he will boycott all BP products in his effort to express his concern with how the situation was handled. "Oh, I see it now," Torres said, while refuealing his vehicle with BP fuel. "It's horrible what is happening down there. Next time, I'll go somewhere else for my gasoline, and I'm going to start reading the signs more carefully."

Shares of oil giant BP rise after compensation deal

Shares of oil giant BP rise after compensation deal

After the oil giant BP had agreed to give 20 billion dollars of fund as compensation of the victims of the Gulf of Mexico oil spill, the share prices of BP have climbed up by almost 7%.

There has been a hike in the stock price almost after the mishap happened at the Golf of Mexico. After the oil spill, the shares of BP have declined to its all time low.

The investors and experts have said that the compensation deal with the White House had lifted some of the uncertainty about the company which caused the hike in the stock value.

Steps to trap oil, slippery start

Steps to trap oil, slippery start

Almost after a month after BP's deepwater accident took place, a response was tallied by the white house in regard to the oil spill. In order to protect wildlife and also the shore, about 20,000 people had been mobilized. A containment boom that was more than 1.38 million feet was set out to trap all the oil that had made its way into the deepwaters. 655,000 chemicals that dispersed petroleum had also been pumped into the Gulf of Mexico.