The FINANCIAL — bp and Ørsted have today signed a Letter of Intent (LOI) to work together to develop a project for industrial-scale production of green hydrogen – a significant step in developing bp’s hydrogen business. Green hydrogen is made by the
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The FINANCIAL — bp Australia today announced that it will cease fuel production at its Kwinana Refinery and convert it to an import terminal, helping to ensure ongoing security of fuel supply for Western Australia. The refinery, near Fremantle, has provided fuels
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The FINANCIAL — Equinor (60%), and its partner BP Canada (40%), have made two oil discoveries offshore Newfoundland, Canada. The two wells at the Cappahayden and Cambriol prospects, drilled this summer in the Flemish Pass Basin, have proven the presence of hydrocarbons; however, it is too early to provide
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The FINANCIAL — bp, Eni, Equinor, National Grid, Shell and Total today confirmed they have formed a new partnership, the Northern Endurance Partnership (NEP), to develop offshore carbon dioxide (CO2) transport and storage infrastructure in the UK North Sea, with bp as
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The FINANCIAL — bp today announced the start of gas production from its latest development offshore Egypt – the Qattameya gas field in the North Damietta offshore concession. Through bp’s joint venture, Pharaonic Petroleum Company (PhPC), the field, which is expected to
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The FINANCIAL — BP to cut down on oil spending and focus on clean energy as a part of a major strategic overhaul revealed on Tuesday, together with a major second quarter loss and dividend cut. BP introduced a new strategy that will reshape
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