The 25 BP ampm convenience-stores in central Ohio are set to be transformed into Duchess Shoppe stores, the Columbus Dispatch reported. The local franchise owner, Englefield Oil Co. already operates all the stores involved, plus 103 other stores that use the Duke/Duchess Shoppe name. BP is allowing Englefield Oil to drop the ampm name penalty-free [...]
BP Products North America Inc. recently reaffirmed its commitment to the BP retail brand in Gaylord, Md., at the 2010 BP Amoco Marketers Association (BPAMA) Convention and Business Expo, an annual gathering of BP marketers. A record number of marketers attended this year’s event to hear from several top BP executives how the company plans [...]
Hess Corp. has agreed to acquire an additional 20% interest in the Tubular Bells oil and gas field in the Gulf of Mexico from BP for $40 million and will become the operator. The increased ownership will bring Hess’ working interest in Tubular Bells to 40%. Chevron holds a 30% interest and BP will retain [...]
BP plans to create a new safety division in the aftermath of this summer’s oil spill disaster in the Gulf of Mexico, CNN reported this week. The “powerful new unit” will have the authority to intervene in all aspects of BP’s technical activities, according to the company. The safety division is one of the new [...]
BP has rolled out the results of a four-month internal investigation into the causes of the April 20 blowout of its Macondo oil well in the Gulf of Mexico, which resulted in the Gulf oil spill. The company spread blame among its contractors, as it pointed to a “complex and interlinked series” of failures from [...]
An offshore petroleum platform in the Gulf of Mexico exploded today, Sept. 2, and was reported as burning by a commercial helicopter flying overhead, the Associated Press reported. The rig sits about 80 miles off the Louisiana coast, west of the site where BP’s Deepwater Horizon rig exploded in April killing 11 workers and leaking [...]
With the Gulf Oil spill behind it, a new CEO at the helm and the clean up effort underway, BP now must turn its attention to making good on its recovery promises and helping BP branded stations win back customers who may not quickly forget the devastation in the Gulf. Since the spill began, and [...]
BP’s Gulf of Mexico response has included more than $4 billion spent to date, including more than 153,650 payments totaling $395 million (as of presstime) in claims to Gulf residents and businesses affected by the oil spill. Other payments included: • $20 billion claims escrow fund • $100 million unemployed rig workers’ fund • $500 [...]
BP Products North America Inc. is set to pay a full penalty of $50.6 million stemming from the 2005 explosion at its Texas City, Texas, refinery that killed 15 workers and injured 170 others, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has announced. The agreement resolves failure-to-abate citations issued after a [...]
BP has paid $303 million in claim payments to more than 40,000 individuals and businesses impacted by the oil spill in the Gulf of Mexico, the company reported. In just the past three weeks, BP has paid out $112 million and will continue to pay claims until the Gulf Coast Claims Facility (GCCF) takes over [...]
On Aug. 5, BP completed cementing operations at the MC252 well. The procedure began at 9:15 a.m. CDT and was completed by 2:15 p.m. CDT, as part of the static kill plan. By filling the damaged Macondo well with cement from the top down, the company hopes to guarantee it won’t leak oil again. The [...]
By Brian L. Milne, Refined Fuels Editor, Telvent DTN After inching off a one-month low last week to $272.2 gallon, the U.S. retail gasoline average is poised to post its second straight weekly increase, following wholesale costs higher. The US price benchmark for gasoline, the Reformulated Blendstock for Oxygenate Blending futures contract that trades on [...]
BP officially announced today that Tony Hayward is stepping down as CEO and being replaced by Robert Dudley effective Oct. 1, the Associated Press reported. As an American, Dudley marks BP PLC’s first ever non-British chief executive, the company said as it reported a record quarterly $17 billion loss and set aside $32.2 billion to [...]
BP’s Tony Hayward, whose blunders in relation handling the oil spill in the press have created an outcry, is on his way out as CEO, a U.S. government official told the Associated Press. The senior U.S. official who spoke on condition of anonymity because an announcement had not been made, told the Associated Press he [...]
BP is selling its upstream assets in the U.S., Canada and Egypt to Apache Corp., outlined in a number of agreements this week. The deals together total $7 billion, and comprise BP’s Permian Basin assets in Texas and south-east New Mexico in the U.S.; its Western Canadian upstream gas assets; and the Western Desert business [...]