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BP Business Exclusive Sanctions Russian U.S. 

Exclusive: Sanctions gap lets Western firms tap Russian frontier oil

August 2, 2017 By Nerijus Adomaitis and Katya Golubkova OSLO/MOSCOW (Reuters) – A gap in U.S. sanctions allows Western companies to help Russia develop some of its most technically challenging oil reserves, and risks undermining the broad aim of the measures, a Reuters review of company results and media releases has found. When Washington imposed the sanctions on Moscow in 2014 over its annexation of Crimea and role in the Ukraine conflict, the U.S Treasury said it wanted to “impede Russia’s ability to develop so-called frontier or unconventional oil resources”….

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BP energy gas industry Tech Top News 

BP in talks with electric carmakers on service station chargers

August 1, 2017 By Karolin Schaps and Ron Bousso LONDON (Reuters) – BP is in talks with electric vehicle makers on partnering to offer battery re-charging docks at its global network of fuel service stations as it seeks to benefit from the move away from diesel and petrol cars, Chief Executive Bob Dudley told Reuters on Tuesday. The expected rapid growth in the use of electric vehicles in the coming decades is threatening oil companies’ business model as demand for some road fuels could plateau as early as the late…

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BP Business Europe Germany reporting 

BP’s gasoline buying lifts European benchmark to record volumes

June 30, 2017 LONDON (Reuters) – An unprecedented gasoline buying spree by BP in June lifted trading volumes on Europe’s benchmark Argus index to the highest on record, the price reporting agency said on Friday. Trading volumes of Argus Eurobob oxy gasoline barges totaled 449,000 tonnes in June, beating the previous record in March 2016 of 446,000 tonnes, Argus said. BP bought 313,000 tonnes of the volume in June, the oil company’s largest purchase in a single month. It was unclear why London-based BP, one of the world’s biggest oil…

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BP, Eni deepen blockchain trading in European gas

June 5, 2017 LONDON (Reuters) – Oil majors BP and Eni are deepening their foray into blockchain technology, starting to run blockchain trades in parallel with their live trading systems, according to developer BTL Group. The energy traders, together with Austria’s Wien Energie, had previously tested BTL’s Interbit blockchain platform over 12 weeks, carrying out trades in European natural gas. For example, the blockchain system found a discrepancy in the volume allocation of a trade of French gas sold by Eni to BP, eradicating a mistake that would have cost…

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Slumping oilfield services sector bets on new offshore technology

May 4, 2017 By Jessica Resnick-Ault and Liz Hampton HOUSTON (Reuters) – The oil industry’s top equipment and services suppliers this week are hawking vastly cheaper ways of designing and equipping subsea wells, aiming to slash the cost of offshore projects to compete with the faster-moving shale industry. At the Offshore Technology Conference, the industry’s annual gathering of floating rig and subsea well suppliers, sales pitches this year are all about cost savings and faster time to first production. With U.S. crude priced under $50 a barrel, offshore projects with…

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Exclusive – Saudis, oil majors discuss gas investments ahead of giant IPO

April 11, 2017 By Ron Bousso, Dmitry Zhdannikov and Rania El Gamal LONDON/DUBAI (Reuters) – Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country’s drive to diversify investments before the listing of national energy giant Saudi Aramco. Saudi officials explored investment opportunities with firms including BP and Chevron to help develop its gas reserves, the world’s sixth largest, at a time of booming energy demand at home, four industry sources told Reuters. Aramco has also looked…

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