Statoil to Become Equinor, Dropping 'Oil'
Shareholders in Norway's largest company, Statoil, will approve on Tuesday the board's proposal to drop "oil" from its name as its seeks to diversify its business and attract young talent concerned about fossil fuels' impact on climate change.From Wednesday, the majority state-owned company will change its 46-year-old name…
BP Scraps Australian south coast Drill Plan
Cites project costs as reason for withdrawal; decision in line with move away from risky drilling. Oil major BP has scrapped plans to drill for oil and gas off the southern coast of Australia because it is too expensive in the face of low oil prices that have prompted heavy cost-cutting across the sector. The Great Australian…
BP Not to proceed with Great Australian Bight Exploration
BP has taken the decision not to progress its exploration drilling programme in the Great Australian Bight (GAB), offshore South Australia. The decision follows the review and refresh of BP’s upstream strategy earlier this year, which included focusing exploration on opportunities likely to create value in the near to medium term, primarily building on BP’s significant existing upstream positions.
Australian O & G Exploration Declining
The latest ‘Resources and Energy Quarterly’ report from the Australian Government provides equal measures of optimism and disappointment, APPEA said today. APPEA Chief Executive Dr Malcolm Roberts said rising LNG exports are underpinning Australia’s economic growth but the continuing fall in petroleum exploration is alarming.
BP's Exploration Strategy Shrinks
BP exploration boss leaves after limited success. The surprise departure of BP's exploration boss has turned the spotlight on an oil search strategy that, after years of spending cuts, is focusing mainly on expanding existing fields rather than venturing expensively into the unknown. That caution reflects a firm chastened by the $55 billion cost of its 2010 Gulf of Mexico spill…
Australia Rejects BP Exploration Plan
An Australian regulator rejected an application from BP Plc to explore for oil off the coast of Southern Australia, saying the energy major's proposal failed to meet environmental standards. The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) said BP's plan to drill in an area known as the…
Statoil Wins Exploration License off Australia
Statoil expands in Australia with the award of 100% equity share in a large exploration permit located in the prolific Northern Carnarvon Basin on the Northwest shelf of Australia. This is Statoil’s third asset in Australia, adding to the onshore operatorship in the Northern Territory’s South Georgina basin and four BP-operated offshore permits in the Great Australian Bight.
