they wont hire you if you don't know who they are. the company is Beyond Petroleum not british petroleum. but they are located in the uk/england.
I have got an offer from BRITISH PETROLEUM COMPANY UK. Can any one tell whether the company is real?
they wont hire you if you don't know who they are. the company is Beyond Petroleum not british petroleum. but they are located in the uk/england.
I have got an offer from BRITISH PETROLEUM COMPANY UK. Can any one tell whether the company is real?
Friday January 7, 2011
Bob Stannard
Many years ago, when I was a freshman legislator, I received a call from a well-known businessperson in Manchester. he had a problem. That’s generally why most folks call their representative; it’s generally not to commend them for the wonderful job they’re doing.
Turned out this chap had a big problem. he had fuel delivered on a Friday and on Monday his place of business was freezing cold. After examining the furnace they checked the fuel tank only to discover that it was empty. The tank had developed a hole, as many of those old tanks back in the 1970s and ‘80s did, and all that fuel had leaked into the ground. he had two options. he could’ve tried to find a way to remove the old tank in the middle of the night, replace it and go on his way in the hope the fuel would never be discovered, or he could do the right thing and contact the state. he opted for the latter, which is how I ended up involved.
Together we determined who in state government should be contacted and my friend made the call. now, you would think that someone who volunteers to come forward and do the right thing would garner a shred of respect. instead, my friend was made to feel like a criminal; as if he had done this on purpose. Suffice it to say that many ugly conversations and $50,000 later the site was remediated and the tank replaced. A bitter taste was left in my friend’s mouth.
A decade later I was working for East Mountain Transport, a waste hauling and recycling company in Sunderland. Before I arrived, our company bought out another hauler in Pownal. this hauler had previously dumped waste in the Bennington landfill according to all rules and regulations. The Bennington landfill had closed before East Mountain went into business and thus East Mountain never dumped a gum wrapper in the facility.
That did not stop the federal government from using successor language in the Superfund law to come after us (and many other Bennington businesses). I went through that process, which lasted almost two years, representing East Mountain, because we could not afford an attorney. I was the only non-lawyer in group of over 25 potentially responsible parties (PRP).
From the start those who were cited by the EPA were immediately made to feel as though they were criminals for having ruined the environment. There were some companies that dumped some nasty stuff in that landfill, but remember when they were doing so it was legal. In this case there may very well have been environmental degradation, but when all was said and done, lawyers made money and not much happened with the landfill.
Now, 20 years later I’ve learned that a local business in Bennington has been indicted by the EPA for storing hazardous waste at its facility. that sounds pretty bad on the face of it, so I decided to see if I could learn a little bit more about this situation. The company, Mace, is well known in Bennington.
I learned that material stored on-site would not pose a threat to human health or the environment should it ever have leaked, which it has not. Nothing has been spilled or has leaked in the 23-year history of the company. There has been no environmental damage. Police all around America spray Mace into the faces of bad guys every day with no lasting damage to their victims.
Conversely, no one associated with the British Petroleum oil spill has been indicted, to the best of knowledge, and oil is certainly more egregious than pepper juice. had all of the containers stored on-site magically burst simultaneously and leaked all over the cement floor in the room in which they reside, there would need to be some heavy mopping up, but no one would be hurt and there would be no damage to the environment. The EPA has been to this company with other issues, all of which have been addressed in a willing and cooperative manner.
I’m not saying that we should turn our backs on those who degrade our environment intentionally and willfully. however, there should be some middle ground. Good people have bad things happen to them. Good people make mistakes. it would seem to me as though instead of vilifying individuals and creating the impression that somehow they are hardened criminals, that some sort of reasonable remediation could be found.
Issuing a criminal indictment seems a little extreme, but then again, over the course of a lifetime, I have seen some extreme responses and inappropriate treatment of good people.
Bob Stannard lives in Manchester.
<a href="http://www.benningtonbanner.com/opinion/ci_17039450tag:news.google.com,2005:cluster=http://www.benningtonbanner.com/opinion/ci_17039450Sat, 08 Jan 2011 04:24:04 GMT 00:00″>Hard cases I’ve known
BP chemicals is a huge company. they had a refinery in texas city, TX (south of houston) and i was considering working for them as well but after the explosion i decided against it
if you are in actual contact with a human at the company and have confirmatory paperwork in the mail, it could be real.
I have a job offer from british petroleum company u.k. whether is it legitimate ?
AbstractThe BP oil spill was not only a technological failure, but one that demonstrated the ineptitude of federal crisis management. the result is likely to be a misplaced focus on curtailing deepwater drilling and making a permitting process increasingly cumbersome. the net result will not be increased safety on oil rigs or ecological protection in those waters adjacent to deepwater drilling, nor is it likely to improve energy policy and create ‘greener’ jobs. this paper will outline what has happened so far and what should happen to reduce the risks of another oil rig tragedy and a further governance calamity.
IntroductionDrilling for oil in the Outer Continental Shelf (OCS) is a risky and often dangerous business that many states do not want taking place off their coast. although there have been fewer and fewer oil spills over the past forty years and a 46% drop in spills in the past decade, there will always remain some risk. Previous spills were quickly politicized, a flurry of new legislation passed and watch-dogs groups formed along with general consternation inevitably appearing. for example, the Exxon-Valdez Accident in 1989, inter alia, resulted in the Oil Pollution Act of 1990, or OPA. the new legislation did address two major issues: a) it improved the nation’s ability to prevent and respond to oil spills by expanding the federal government’s jurisdiction, and b) it created the national Oil Spill Liability Trust Fund. with regard to the former, OPA provided for a National Oil and Hazardous Substances Pollution Contingency plan requiring the federal government to “direct all public and private response efforts” (OPA). OPA was supposed to reduce the risk and improve the ability of the federal government (working with private companies and state officials) to quickly clean-up any spills.
Yet, the primary agencies for planning, permitting and leasing (e.g., Minerals Management Service, now the Bureau of Ocean Energy Management, Regulation and Enforcement), and inspecting and assisting with any clean-up (e.g. the Environmental Protection Agency and the National Oceanic and Atmospheric Administration) took few preventive measures after OPA. for example, MMS spent less than a tenth of one cent for every dollar it collected from royalties researching research designates that better ways to contain and clean-up spills (Nalder). MMS was careless in the manner in which it granted permits for exploration in the Gulf of Mexico (GOM) and may have had a systematic disregard for concerns raised by biologists and engineers vis-à-vis safety and potential spills (Urbina). In other words, there was a perfect storm fermenting below the Gulf waters and a nightmare of governance incompetence above the waves.
Scientists had warned of varying complicating factors for addressing spills in the GOM for years. Between June and November is the hurricane season for the GOM. Following Hurricanes Ivan, Katrina and Rita, extreme weather was known to cause extensive facilities and pipeline damage (Kaiser and Pulsipher). Researchers discovered that the GOM may be more sensitive to seismic and dredging activity than once believed (Drucker et al). the GOM has long been a viable source of seafood, tourism and energy. yet, the region remains vulnerable due to ‘dead zones’ caused by eutrophication or increased hypoxic waters caused by fertilizers, pesticides and other oxygen depleting chemicals in the waters (Rabalais). Some scientists also called for a better way to manage these resources (Stranberg) or to even wean ourselves from further exploitation of resources by reducing reliance upon petroleum, especially from the transportation sector (Morrow).
This essay will describe the explosion and subsequent ecological impact of millions of gallons of oil in an already strained ecosystem. In addition, it will detail how the federal government exacerbated this issue by providing little strategic guidance. Also, there will be some attention paid to providing alternatives to avoid such a calamity when the next spill, fire or explosion takes place.
BP’s Blow-Up
On April 20, 2010, the Transocean drilling rig Deepwater Horizon, which was licensed by British Petroleum (BP), exploded and caught fire in the GOM. eleven people were killed and seventeen people were injured. within a couple of days, the rig would sink and five-mile long oil slick would begin to replace it. the slick would not have been there had the blowout preventer activated. while the events described are tragic and the loss of human life terrible, this incident has been compounded by incompetence and arrogance by the federal government and has increased the insecurity of oil producing states like Louisiana. to make matters worse, it appears unlikely that the energy governance structure (i.e., planning, leasing, permitting, regulating) will make noteworthy improvements. Further, White House pandering could result in considerable job loss and decreased revenue for oil producing states, especially Louisiana.
The real debacle began years before the blow-up. the oil rig was built over a three-year period by Hyundai Heavy Industries Shipyard in Ulsan, South Korea. clearly, improved inspections and follow-up inspections could have reduced the likelihood of this blow-up and loss of life.
In trying to cast itself as a new, greener company, BP began a public relations campaign almost a decade ago. instead of British Petroleum, BP would now stand for ‘beyond petroleum.’ In fact, UK consumers considered BP one of the top ‘green companies’ in the world (DuBois). yet, when one left Britain, it was another matter. In 2000 and 2005, BP was ranked as one of the “ten worst companies in the world” in part for its abysmal occupational safety and dreadful environmental records (Mokhiber and Weissman). on March 15, 2005, BP’s refinery in Texas City, Texas exploded killing 15 workers and injuring more than 170. this was the third accident in the previous four years at this facility. But to simply pile on BP misses the point.
The industry itself and those regulating it need an overhaul.
During may 2010, BP managed to try everything from ‘robots’ to ‘junk shots’ to ‘top hats’ in an effort to stop or slow-down the underwater gusher. Also, the GOM became a manifestation of the loony as everyone from James Cameron to Kevin Costner came to Louisiana to ‘pitch in and help.’ But, it was BP Chief Executive Tony Hayward’s comments and lack of action that doomed him and threatened to permanently tarnish the BP brand.
BP stonewalled the press and provided grossly misleading accounts of how much oil was actually spilling into the GOM. by the middle of June, BP found itself being threatened from the White House and called upon by the new dweller at 10 Downing Street to answer questions. Hayward became the public face of BP and made public relations blunders whenever he could (Webb). by the end of July, Hayward had been replaced by Mississippi native Bob Dudley. the result was a $20 billion ‘down payment’ to compensate the victims (still not clearly defined). still, BP was not the only one making grave errors.
DC’s Debacle
In a manner that could be described as both arrogant and ignorant, White House Press Secretary Robert Gibbs asserted “I don’t honestly think it opens up a whole new series of questions, because, you know, in all honesty I doubt this is the first accident that has happened and I doubt it will be the last” (AP). this rather glib comment came three days after the BP explosion. within a week, the Obama administration had ordered a halt to new drilling, safety inspections for all active drilling rigs and production platforms in the GOM and had ended all talk of this incident being merely another average day. this White House had gone back to pre-March 31st rhetoric.
Note that on March 31, 2010, just three weeks before the incident, President Obama called for new offshore drilling in the Atlantic Ocean from Delaware to central Florida, including the northern waters of Alaska. Also, Obama wanted Congress to lift a drilling ban in the eastern GOM, which is only 125 miles from Florida beaches and a major tourist (read: revenue generating) area (Broder). this seeming reversal brought about cries from environmentalists, conservationists and the liberal wing of the Democratic Party hoping that reducing carbon-based fuels would be fully embraced. there were even some on the right that claimed that Obama had not gone far enough or in some cases had reversed previous OCS energy policy by delaying lease sales.
Republicans, on the other hand, were in a strange position themselves. it would be virtually impossible to chant “Drill, baby, drill!” while human suffering and ecological ruin were taking place live on CNN. to make matters worse, Republicans are often labeled as the party of ‘big business’ and ‘big oil’ and BP certainly is both. when considering the campaign contribution patterns of BP, it would be easy to point out that they favor Republicans over Democrats by almost 2 to 1 since 1989. But, when analyzing the numbers a little closer, BP donated almost 5 to 1 in favor of incumbents regardless of party affiliation (Center for Responsive Politics). In other words, prior to April 20, BP liked things the way they were.
Even the US Chamber of Commerce took this as an opportunity to voice its discontentment with the Obama administration by stating in a open letter: “Instead of continuing their partnership with the business community and embracing proven ideas for job creation, they vilified industries while embarking on an ill-advised source of government expansion, major tax increases, massive deficits, and job-destroying regulations.” (Hendon)
Even more, the blame-game that is played out is Congress may have hit a new high (or rather low) when the executives BP, Halliburton and Transocean appeared before a Senate committee and blamed each other for the explosion and subsequent oil spill. Perhaps the reason for such unflinching finger-pointing can be found in section 1001(d) of OPA that provides a way out of liability for a responsible party by showing that the damages were the result of a third party’s actions (OPA).
President Obama rightfully showed outrage at such a spectacle, but the problem was deeper than the gushing oil itself. by may 13, the world was watching live feeds of the spill and the public, especially those in oil producing states that also depended on tourism and seafood exporting, such as Louisiana, were in a foul mood. Almost a month had gone by since the BP blow-up and there was little federal leadership, which forced GOM states to take the lead where possible with limited resources.
Still, few believed that the White House had handled this crisis properly. In a Washington Post-ABC News poll on July 15th, more than 73 percent disapproved of the way the President was dealing with the oil spill. the blame should not begin or end with the President. In reality, MMS, often called the most dysfunctional federal agencies with a history if inconsistent policy-making (Kaufman) , had issues before he took office and attempts to hang this crisis around Obama’s head the way Hurricane Katrina was around Bush’s have yet to work (Baker). still, there is a major difference between avoiding culpability and demonstrating leadership.
A couple of major set-backs occurred within weeks of one another that further aggravated the situation. First, Elizabeth Birnbaum the Director of MMS resigned as Obama was about to announce the first moratorium. Department of Interior Secretary Ken Salazar, according to the new York Times, had asked Ms. Birnbaum to leave. Regardless, she was an important player in this process with loads of experience. Second, a new Orleans federal judge lifted the six-month moratorium on new drilling and even went further by “immediately prohibiting” the U.S. from enforcing the ban (Calkins and Fisk). according to Federal Judge Martin Feldman, the Obama moratorium was a blanket attempt to deal with a specific instance and was too broad and sweeping. Obama was quick to ask for an appeal and the moratorium de jure process began.
The problem as self-defined for the federal government in general and President Obama specifically was at least two-fold: 1) how to stop the BP oil spill under the present system without actually taking a leadership role just in case BP failed; and 2) how to reform the present system during the crisis to show leadership. what is actually needed is a comprehensive overhaul of energy policy-making.
In Louisiana, more than 11,000 citizens from across the state travelled to Lafayette to attend the Rally for Economic Survival on July 21st. Regardless of party, race or gender, Louisiana spoke with a single voice: lift the moratorium and let people get back to work. this issue has brought together Senators Landrieu (Democrat) and Vitter (Republican) and the entire Congressional delegation. while there may be unity in the state, the numbers just do not add up. if you took all the Electoral College delegates from oil producing states they would still be less than those from California alone. clearly, finger-pointing and partisan politics will not solve the immediate crisis or the long-term energy policy-making matter.
Better Energy Policy
Following the blow-up, the initial response was predictable. there was talk of getting completely away from fossil-fuels and making the deserts a solar energy haven (Beck). there were investigative reports alleging trouble with MMS and that danger loomed large albeit after the fact (Kaufman). In many ways, the long-term arguments for increased support for alternative or renewable energy and a better energy policy governance structure are sound. the concern lies somewhere between now and when there really will be a shortage of oil and natural gas. it is hard to make the case that the US is running out of oil and gas when 85 percent of its territorial waters are off-limits to energy exploration and production (Lieberman). this is not to suggest that every place that has oil and gas be considered viable. there are ecological, tourism and quality of life issues that are equally important.
The reorganization of MMS into the Bureau of Ocean Management, Regulation and Enforcement (BOEMRE) less than thirty days after the BP blow-up by DOI Secretary Salazar suggests that this was something already in the works prior to the BP blow-up. In fact, Salazar had issued a round of reforms for on-shore facilities on January 6, 2010 that received little fanfare. Here, an “Energy Reform Team” had already been assembled to provide “greater coordination and improved accountability” for the on-shore sector. Salazar appointed Michael Bromwich as the new director of BOEMRE and his investigative background with the FBI should serve him well in rooting out systemic problems described by the NOAA to MMS more than six months before the spill. These problems include lack of adequate permitting for deepwater rigs, risks associated with spills, and drilling activity in general. as reported in the new York Times, one MMS scientist stated that “You simply are not allowed to conclude that the drilling will have an impact. if you conclude that certain aspects will be affected, your report gets disappeared in a desk drawer and they find another scientist to redo it or they rewrite it for you” (Urbina). Even the General Accountability Office (GAO) sent a memo to MMS asking it to strengthen its commitment to environmental regulations. this was sent on March 8, 2010. In other words, BP was not the only one at fault.
The idea that bureaucracies are often understaffed, overworked and pressured to shield those they regulate is nothing new. the process is a bit more complex than the “Iron-Triangle” of sub-government often described in introductory political science classes to bored freshman. while these unseen bureaucrats are often the subject of ridicule for their insistence on procedure and the use of ‘red tape,’ they are essential to maintaining the quality of life we have (Waterman). if BOEMRE is to make the necessary changes, then it will certainly experience a period of turbulence. In a period of downsized federal and state governments, the concept of “collaborative public management” seems ever more important (O’Leary and Bingham). Here, resources and information are shared across agencies under a common, non-partisan, professional manner. Because the stakes (read: profits) are so high for energy exploration, development companies and those that regulate them will increasingly find themselves in conflict (Clarke and McCool). yet, in terms of energy, oil and gas will remain the major focus on the US and Louisiana for years to come.
Conclusion
Unless there is going to be a complete and instantaneous paradigmatic shift in energy exploration and development that includes an infrastructure system for delivery, then the US will be tied to the oil and gas industry for the foreseeable future. Regrettably, that means there will remain risks. But, that does not mean that business as usual is acceptable. Restructuring of the energy governance structure has begun and will continue over the next several years, but corporations must accept a wider socially responsible role. this is a symbiotic relationship: governments rely upon oil companies for energy, taxes and jobs, but also for proficiency in their field. if there is ever going to be an expansion of drilling (an utterly different issue) then the oil and gas industry must demonstrate that it is safe for workers and non-harmful to the environment.
In closing, these are some recommendations that address the broader concerns:
Of all the issues facing the US and Louisiana, energy policy-making has the potential to be the least partisan. unfortunately, this is not an era for reaching across the aisle and making American policy. the result is likely to be more expensive energy, fewer jobs and a governance structure that failed to learn (once again) from its past mistakes.
About the Author: Dr. Sutherlin is an Assistant Professor of Political Science and Co-Director of the Social Science Research Laboratory at the University of Louisiana at Monroe.
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Kaufman, Marc et al. 2010. “MMS Investigations of Oil-Rig Accidents have a History of Inconsistency,” the Washington Post. 18 July.
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BP’s Blow-Up and DC’s Debacle: Energy Policy-Making the Wrong Way
Where do you think we're drilling? off the coast of Venezuela, mainly. We're not the only ones who make deals with other countries.
They are transnationals. Don't be fooled by the name, people from several European countries have stock in BP.
Why are they drilling off-shore the USA? because they are one of two companies that have the technology to do so.
There are at least 6 Countries drilling out in The Gulf. That's why when people say WE should stop, we'll be the only ones.
cause our country is a sell out to the highest bidder, alaskan oil was to be sold to the highest bidder even before it came out of the ground, and before we heard the chant "drill baby drill"
"Free Market" dictates that. Shell is not a US company either and they are getting ready to drill in Alaskan waters.
There are over 3800 platforms in the Gulf of Mexico alone.
Just because we stop doesnt mean everyone else will also.
Because thats how free market capitalism works
International waters I believe
BP has oil refineries all over texas.
Also why is the ford focus made in germany but the BMW x6 is made in North Carolina? answer International Business
i'm drilling for Shell right now in the states on land.
Social Conservatives thought BP = Bushing Palin
Why was BP(British Petroleum), a British company drilling oil from US coast in the first place?
if this is not a scam, they should shoulder the expenses of their qualified applicants.
BP is a well known company in the uk.i am my self from the uk and they have a good reputation.it must be a scam because no company in the uk asks for money when starting a new job.it must be somoene after your money.dont trust it.get in touch with the BP head office first and tell them the situation.they will be able to help you.
In the 2009 top 500 world-wide companies published by Fortune Magazine, British Petroleum (British petroleum) ranked the fourth. Glamorous digital thermostats at Every Price in the rich worldwide power circle, Bp was thirdly big company, while British petroleum is definitely the first leader business amongst British companies. The new Media Filters for Autumn however, even as being a giant business, British petroleum went into troubles by way of leakage of oil.
Then what’s the toughest to Bp? that would be heading bankrupt.British petroleum is extremely wealthy, with a 17-billion-dollar revenue a year ago, of which the bonus was close to ten.five billion bucks. According to new York Times, Bp was a print-money device. instead, on the condition where the United States government can make a strong suppression, the very best print-money machine would probably fall into an abyss.
There was a precedent of this kind of a excessive condition in American energy circle, which is the fact that United States giant Texas Oil company, suspected as illegal in a merger case, was ruled to spend 1 billion dollars to an additional fat company, Pennziol, although Texas Oil business had no enough cash to compensated for that but go bankrupt.
It’s noteworthy that United States courts « discretionary power » would generally give foreign companies a fatal attack. Under circumstance of Texas Oil company, Pennzoil lodged a criticism within the local courtroom close by headquarter cleverly, getting a compensation of 10.five billion dollars initial.
Now, Bp is dealing with authorized motion by Louisiana and other says close to the Gulf of mexico, based on Ny Every day Information, « Thinking about the nearby economic system broken by oil leak, the high-unemployment individuals and the furious residents, can you make out how a lot British petroleum will make amends for? »
According to some economists, if the oil leak was not settled the minute possible, Bp will probably be dying. Robert Bryce, American fat professional, mentioned one day dozens of years, Bp would be strapped by the oil leak event, the unlimited litigation, the unrecoverable image also, the destroyed financing ability would have a negative affect on British petroleum in the long run, even affecting viability.
Even surviving the disaster, Bp would be still damaged significantly. since the leakage of oil event, British petroleum shares have dropped by close to fifty percent, that make itself be considered a takeover target probably of Shell company and Exxon Mobil. in case that it happens, the structure of world’s power will probably be changed considerably.
Aiming at appeasing traders, British petroleum mentioned the business could get via the disaster. Tony Hayward, Chief executive officer of British petroleum, did not want to resign by virtue of leakage of oil, said that British petroleum has enough money, additionally, the profit of previous years make British petroleum has an capability to consider responsibility for that action in Gulf of mexico. in addition, because the greatest business in England, U.N. authorities would not let Usa push British petroleum to cliff.
However, the crisis is nonetheless shifting on. A large business faces bankruptcy due to a situation of oil leak, which proves the threat to develop energy, also, the importance to safety in production. the lesson of Bp would be a warning to other corporations.
What’s the Most Awful for Bp?
Dec 20, 2010 06:01 ET
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 20, 2010) - Transeuro Energy Corp. (“Transeuro” or the “Company”) (TSX VENTURE:TSU)(OSLO:TSU) issues a weekly update on its Ukraine operations.
The Dafora drilling rig has been fully transported to the Karl-101 location and currently 90% of the components are rigged up. Once the rig is completely assembled a series of approvals are required from the local authorities and Transeuro will conduct a full inspection to accept the rig for operations. Re-entry operations remain on schedule to commence before the end of December.
Transeuro is involved in the acquisition of petroleum and natural gas rights, the exploration for, and development and production of crude oil, condensate and natural gas. the Company’s properties are located in Canada, Armenia, and Ukraine. in addition, the Company owns shares in Eaglewood and holds a back-in option to their exploration licenses in Papua New Guinea.
On behalf of the Board of Directors
Aage Thoen, Chairman
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. the Company relies upon litigation protection for forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Oslo Bors accepts responsibility for the adequacy or accuracy of this release.
Transeuro Energy Corp.: Ukraine Weekly Operations Update
Hi, this time my situation is surrounded by confusion. I got an email asking for resume from a reputed company British Petroleum Company, UK.
But when I start searching it found that there is lots of ques. about reliability of this kind of emails or job offers.
Is it scam or genuine?
Though I submit resume but now completely live in mix-up mind for what to do?
Is British Petroleum Company have any office in India and its metropolitan cities ? if yes, then plz provide its address.
Is British Petroleum Company have any office in India?
TABJ – Dec. 14 – Oil giant BP Plc is selling almost all of its exploration and production assets in Pakistan to United Energy Group Limited, the companies announced today.
“Today’s agreement is further evidence of the rapid progress BP has made towards the divestment target we set out last summer,” BP CEO Bob Dudley said in a statement. “we now have agreements to secure the majority of our divestment target.
“we are continuing to identify further assets that may be strategically more valuable to others than to BP as we complete the programme.”
Hong Kong-based UEG will spend US$755 million in cash for nine producing and exploration blocks in Pakistan’s Sindh province, not far from the border with India, and four offshore exploration blocks in the Arabian Sea. BP (NYSE: BP) will retain four offshore blocks in Pakistan, UEG said in a statement, but BP intends to also sell those assets in another deal.
London-based BP’s subsidiaries in Pakistan see 10,000 barrels per day in gross oil production and 200 million standard cubic feet per day in gross natural gas production, the company said.
The purchase expands UEG’s assets beyond its oil and gas holdings in the Liaoning province of China.
The sale is the latest in BP’s effort to offload assets to help pay for the cleanup of the Deepwater Horizon spill. The catastrophic oil spill in the Gulf of Mexico was caused by an accident at one of BP’s facilities, and gushed oil into the gulf from April until July.
Some five million barrels of oil were sent into the gulf, according to estimates, with only 800,000 of those captured by BP. last month, the company pegged its costs to clean up the spill at $39.9 billion.
BP sells off interests in Pakistan