Gulf of Mexico Tag

BP’s profits in the third quarter took a significant hit after taking a one-off US$2.6 billion charge linked to asset sales, however outgoing chief executive Bob Dudley said underlying cash flow and earnings remained strong in the period. The $2.6 billion charge resulted in a $700...

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...