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…
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…
Australian Watchdog NOPSEMA Gets new CEO
Australia’s oil and gas industry welcomes the appointment of Stuart Smith as the new Chief Executive Officer of the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). APPEA Chief Executive David Byers said: “Mr Smith brings to the position a strong background in industry regulation and a detailed understanding of the offshore oil and gas sector.
