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BP to lay off 15% of workforce

The oil major BP announced that it will lay off 15% of its workforce, in response to the COVID-19 crisis and in line with Chief Executive Bernard Looney’s plan to shift the oil and gas major to renewable energy.

BP leaves three trade associations not aligning with its climate policies

British oil major BP announced that it will leave three US-based organisations, following a review examining the alignment of their climate-related policies and activities with BP’s positions. This comes as BP unveiled ambition to become a net zero company by 2050, earlier this month. 

BP makes organizational changes to reach net zero by 2050

Oil major BP has set a new ambition to become a net zero company by 2050 or sooner, aiming to help the world get to net zero, in line with the global environmental goals. The company announced that its ambition is based on ten aims, five to get BP to net zero and five aims to help the world get to net zero.

Second Freeport LNG Train starts commercial operations

Freeport LNG announced the start of commercial operations for the second of its three liquefaction trains, with the commencement of gas deliveries from BP under its 20-year tolling agreement with Freeport. Freeport LNG’s Train 1 began commercial operations last month.

BP confirms “high-quality”gas finds offshore West Africa

BP officially informed that found “high quality” natural gas in the drilling campaign of its three wells offshore Mauritania and Senegal, boosting its confidence for the gas resources in the region. The three wells that drilled this year GTA-1, Yakaar-2, and Orca-1, targeted a total amount of nine hydrocarbon-bearing zones.

Resolution exploration well in Gulf of Mexico to be abandoned

Kosmos Energy, the US-based oil and gas company, completed drilling the Resolution exploration well in the U.S. Gulf of Mexico. The primary exploration objective proved to be water-bearing, yet the well encountered reservoir quality sands.

Oil majors’ global selling spree could fetch US$27 billion

Oil and gas giants are looking to sell assets that could fetch a total of $27.5 billion, as they are actively shedding mature assets on a massive scale in a bid to finance higher-yielding investments elsewhere, according to energy research firm Rystad Energy.

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