One of Alaska’s “Big Three” oil companies is stepping away from its major role in the state: BP is leaving its position as the company that oversees Prudhoe Bay.
"BP Alaska"
BP and ExxonMobil commit up to $20 million to Alaska LNG
It’s the first time in years that private industry in the state has pitched in money to move the gasline project forward.
This winter, a major oil exploration effort is happening in a familiar place: Prudhoe Bay
BP is undertaking a massive effort to get the clearest picture yet of what the Prudhoe Bay oil field looks like. The idea is that, after all these years, there’s more oil at Prudhoe Bay to drill, but it’s in smaller, harder-to-find pockets.
State corporation announces tentative deal with BP to buy gas for Alaska LNG project
The agreement is one of many the state corporation is negotiating to get the project online by 2025.
State-ordered investigation following BP leak finds no additional problem wells
The Alaska Oil and Gas Conservation Commission found no additional wells that could lead to a similar accident, according to commissioner Cathy Foerster.
BP working to contain well on North Slope
State regulators say they don’t yet know how serious the incident is, or what amount of oil or gas has been released. BP says there have been no injuries.
BP Alaska reports $85 million profit for 2016; no more layoffs planned
In an annual report released today, BP’s Alaska subsidiary reported a profit of $85 million in 2016, compared to a $172 million loss in Alaska in 2015.
Industry pushes back against proposed changes to state’s oil tax system
As lawmakers in Juneau consider changes to the state’s oil tax credit system, they’re facing stiff opposition from oil companies. Several industry representatives testified before lawmakers this week. Those representatives are calling the changes proposed in House Bill 111 a tax increase. And they also say it could affect their investment decisions.
BP plans Alaska layoffs
BP plans to cut its Alaska workforce by 17 percent by early next year.
Lawmakers meet with lobbyists in DC
While the legislature debates whether to cut taxes on oil companies, state lawmakers were in Washington, D.C last week– meeting with oil and gas lobbyists.