A Barrel Full

As if the shale gas boom were not enough, Alaska has a surplus that it would like to shift to consumers. All that is needed is a few tens of billions of dollars for a gas pipeline, and all that lovely gas will come flowing down into the lower 48.
So who wants to spend such […]

The final quarter results form BP have been announced and they are being reported slightly differently.
From BP:
BP Delivers on Promises in “Very Good” 2009 as 4Q Profits Jump 70 per cent
BP today reported a sharp year-on-year increase in fourth quarter profits as it announced that its oil and gas production increased by more than four […]

They are reporting at a furios rate, and the results are well down on last year’s records.

BP is down by half.

BP’s third-quarter replacement cost profit was $4,981 million, compared with $10,029 million a year ago, a decrease of 50%. 

Conoco Phillips was down by a lot more.

Third-quarter earnings of $1.5 billion, or $1.00 per share, a […]

It had to happen, but nobody wants to be the one to admit it, we just don’t need a lot of new refineries. Thankfully BP is man enough to face the facts.
BP and Irving Oil announced today they will not be moving forward at this time with the proposed second refinery in Saint John, New […]

The global LNG glut, is causing problems for producers this year. However, together with increased export capacity, several new import terminals have been opened, which will help demand to develop in new markets.
In the last week, BP has announced the sale of their first cargo from a new facility in Indonesia.
BP, as operator on behalf […]