Alaska North Slope oil production has slipped below 500,000 barrels per day and will decline further in coming years, according to the latest forecast released by the state Department of Revenue.
BP will take charges of $2 billion to $3 billion in the third quarter, as the British energy firm looks to reach divestments worth $10 billion a year ahead of schedule.
The Trump administration on Sept. 12 took a major step toward opening Alaska's Arctic National Wildlife Refuge (ANWR) to oil drilling, drawing criticism from environmentalists and an effort by Democratic lawmakers to put the pristine wilderness area off limits to development.
An Alaskan North Slope wildcat and Fieldwood drilling the first test well in the U.S. Gulf’s Green Canyon Block 200 top this week’s drilling activity highlights from around the world.
The multibillion-dollar sale of BP’s Alaska business to Hilcorp illustrates the divergent strategies of the majors from private oil and gas players, analysts say.
Another Powder River Basin discovery by Chesapeake and BP’s Mad Dog Field expansion in the U.S. Gulf top this week’s drilling activity highlights from around the world.
BP CEO Bob Dudley said the Alaska exit in no way represents a move away from the U.S. by the London-based oil major.