Gulf of Mexico Tag

BHP Billiton (ASX:BHP) has signed a contract with Mexican state-owned firm PEMEX Exploration & Production Mexico (Pemex), which will advance work on the Trion discovery in the Gulf of Mexico. The Anglo-American company submitted a successful bid to work on the resource in December 2016, acquiring...

BHP Billiton (NYSE:BHP) has announced it has approved a $2.2 billion investment in the second phase of BP’s (LSE:BP) Mad Dog oilfield. BHP, the world’s largest mining company, will undertake a 23.9% stake in the Gulf of Mexico oil reserve, joining majority shareholder BP, which holds...

BP announced a return to marginal profits for 2016, a drastic improvement from last year’s numbers. The British oil major reported headline profit of US$115 million compared to the 2015 loss of $6 billion. The earnings impaired by Gulf of Mexico legacy charges of $4.1 billion. It...

Oil giant BP (LSE:BP) has announced good news from the Gulf of Mexico, as the Thunder Horse South Expansion project has opened 11 months ahead of schedule and US$150 million under budget. The subsea production system, located two miles south of the existing Thunder Horse platform,...

Colombia-based energy firm Global Energy Development (AIM:GED) will announce a shift in focus towards subsea oil exploration, as part of a sweeping turnaround strategy. The petroleum exploration firm is expected to confirm a multi-million dollar investment in 10 offshore subsea service vessels based in the Gulf...