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 [...]
BP this week is adding a new mobile claims center to supplement the existing claims centers throughout the state of Louisiana. The mobile claims center has been made to travel with four claims adjusters to assist residents filing claims throughout affected parishes in Louisiana. “This new edition to claims will allow us to reach the [...]
Even as BP Corp. has announced that it had succeeded in its attempt to choke off the flow of oil spilling into the Gulf of Mexico, gas stations with BP branded gas continue to experience backlash from consumers angry over the disaster. In Bay Minette, Ala., yesterday a BP gas station was vandalized-with angry messages [...]
BP finally stopped the flow of oil into the Gulf of Mexico on Thursday – 85 days and 184 million gallons after the Deepwater Horizon oil spill began on April 20, the Associate Press reported. Now begins a 48 hour wait to see if the capped-off well holds or blows a leak, as engineers monitor [...]
As many Americans avoid BP stations in protest over the Gulf oil spill, BP-branded station owners are insisting BP do more to help them convince customers that such boycotts hurt independently owned businesses, not the British oil giant, the Associated Press reported. To win back customers, stations want BP to help in reducing the price [...]
BP has paid $104 million to residents along the Gulf Coast for claims filed as a result of the oil spill in the Gulf of Mexico, the company reported in a press release. “Our focus has been on getting money into the hands of fishermen, shrimpers, condo owners and others who have not been able [...]
BP PLC is selling 114 gas stations and convenience-store properties in 22 states, the Wall Street Journal reported. Most of the locations are being marketed as redevelopment sites, while some are being offered as part of potential franchise deals, according to the Web site of BP’s broker, Jones Lang LaSalle. BP had decided to sell [...]
BP has announced significant progress in its half-billion dollar pledge to the Gulf of Mexico Research Initiative (GRI). Three research institutions in the Gulf region will receive a total of $25 million in fast-track funding for high-priority studies of the distribution, composition and ecological interactions of oil and dispersant. On May 24, BP announced a [...]
On Tuesday, President Barack Obama addressed the nation from the Oval Office, summoning Americans to a “national mission” to move away from reliance on oil and develop alternative sources of energy, and noted that it is imperative for Congress to act quickly to overcome “a lack of political courage and candor” surrounding the BP Oil [...]
BP is providing the State of Alabama with an additional $25 million grant to continue implementation of the State’s Area Contingency Plan in the wake of the oil spill from the MC252 well. This $25 million grant is in addition to a previous $25 million block grant that BP announced on May 5 to help [...]
BP announced it plans to donate the net revenue from oil recovered from the MC252 oil spill to create a new wildlife fund that would create, restore, improve and protect wildlife habitat along the coastline of Louisiana, Mississippi, Alabama and Florida. The creation of this fund exceeds the company’s obligations under the Oil Pollution Act [...]
BP has announced that it plans to make an immediate payment of $60 million to the State of Louisiana as part of its previously pledged commitment to fund the entire $360 million cost of six berms in the Louisiana barrier islands project. In a letter to Louisiana Governor Bobby Jindal BP detailed its plans to [...]
BP continues to respond to the MC252 oil well incident in the Gulf of Mexico, using a lower marine riser package (LMRP) containment cap, installed on June 3, to collect oil and gas flowing from the well and transport them to the Discoverer Enterprise drillship on the surface. On June 5, a total of 10,500 [...]
BP today announced that is has established a $360 million escrow account to fund immediately the construction of six sections of Louisiana barrier islands approved by the U.S. government. The company has been directed to pay for the construction by the federal government. Since the environmental implications of the projects are not fully understood, BP [...]
A bid deadline of July 20, 2010 has been set for the 74 sites throughout the Southeast being divested by The Pantry Inc. NRC Realty & Capital Advisors LLC (NRC) noted that details on each available property are now available online. Properties being sold include a mix of convenience stores with gas, stand-alone convenience stores, [...]