BP

Marunbeni to Move into Gulf of Mexico

Marunbeni to Move into Gulf of Mexico

British Petroleum and Japan’s Marunbeni Corp have reportedly reached a consensus regarding the sale of four oil wells in the Gulf of Mexico. According to Marubeni Corp, it has agreed to pay a sum of $650 million in lieu of four wells in the U. S.

BP’s Profit Falls Due to Oil Spill at Gulf of Mexico

BP’s Profit Falls Due to Oil Spill at Gulf of Mexico

As per a Reuters poll, BP’s Gulf of Mexico oil spill affected its profits and its production in the third quarter.

The third-quarter replacement cost profit for BP went down by 2% to $4.60 billion in spite of a 12% increase in the prices of crude oil, 29% rise in natural gas prices in the United States, and two times increase in the U. K. gas prices.

BP To Give Bonuses on Safety Targets

BP To Give Bonuses on Safety Targets

Bob Dudley, BP’s new chief executive, is witnessed to launch fast effort to rebuild its tarnished reputation. The energy group has claimed that employees’ performance based on safety issues will be the sole measure that would be considered for presenting the fourth-quarter bonuses.

BP employees have to perform on the basis of safety issues to claim bonuses

BP employees have to perform on the basis of safety issues to claim bonuses

On Tuesday British Petroleum announced that the oil giant will give fourth quarter bonuses to employees based on their performances in safety issues. This move is being taken to reinstate the company’s image which got smudged by the oil spill in the Gulf of Mexico

BP retrieves losses by doing away with Gulf assets

BP retrieves losses by doing away with Gulf assets

The number of operator ships plying back and forth from the Gulf of Mexico is supposed to be withdrawn by the British Petroleum. The initiative is part of a bigger plan and motive.

The company wishes to cut down on its capital investment and total yearly spending. Also, in accordance with the Macondo oil spill it wants to rebalance its assortment of resources.

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