Articles tagged BP plc

BP plc’s U.S. natural gas and oil portfolio, both onshore and offshore, have the potential to sharply increase reserves in the coming years, according to CEO Murray Auchincloss.

With a plethora of global natural gas and oil opportunities from which to pick and choose, BP plc wants to build volumes, but the priority still continues to be value, CEO Murray Auchincloss said Tuesday.

Domestic natural gas-weighted production continued to be curtailed during the second quarter to wait out better pricing, but as Gulf Coast LNG projects near completion, could Lower 48 activity increase? Second quarter results may tell the tale.

U.S. LNG exports are forecast to more than double by 2030 from 2022 levels, with domestic natural gas consumption declining “only slightly” over the next 25 years, according to BP plc.

Shell plc, a top natural gas producer in Trinidad and Tobago’s offshore, is building capacity after sanctioning the Manatee field, estimated to hold 2.7 Tcf.

Venture Global LNG Inc. has been tasked with cooperating with long-term offakers of its Calcasieu Pass LNG project to share some private information about the Louisiana export terminal.

NO. 1: Argentina’s Enarsa PDV SA has purchased eight spot LNG cargoes as it grapples with a cold snap ahead of winter in the Southern Hemisphere, which begins next month.

BP plc will continue to pump out “prolific” natural gas volumes from the Haynesville Shale as hedges are in place pricing the supply at around $4.00/Mcf through this year, CEO Murray Auchincloss said Tuesday. 

BP plc expects its natural gas marketing and trading results to be “strong” for the first quarter, following an upbeat result in the final three months of 2023.

Natural gas and oil lease sales in the Gulf of Mexico (GOM) should continue, but there’s room for wind development, as well as carbon capture and sequestration (CCS), according to exploration and production (E&P) companies.