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As Nooros field reaches record production, BP and Ministry of Petroleum sign 3 concession amendments 

  BP announced it has signed three concession amendments with the Minister of Petroleum Tarek El Molla for the Temsah, Ras El Barr, and Nile Delta offshore concessions in Egypt.  These amendments allowed for the economic development of the Nooros field, where the company recently achieved record production. Hesham Mekawi, regional president of BP North …

Daily News Egypt

Oil spill payments sink BP into the red

British energy giant BP recorded multi-billion dollar losses in the second quarter due to payments linked to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Low oil prices also weighed on results. The loss was "mainly relating to the recently announced agreements in principle to settle claims arising from the 2010 Deepwater Horizon accident," said Bob Dudley,…

Deutsche Welle

BP signs an agreement with Egypt to invest $12bn

BP plans to sign an agreement Saturday worth $12bn to invest in the West Nile Delta gas project. The agreement is considered one of the biggest investment agreements in the history of Egypt. The step comes as part of the British delegation’s participation, headed by Foreign Minister Philip Hammond in the Sharm El-Sheikh Economic Summit …

Daily News Egypt