• About
  • Advertise
  • Subscribe
  • Contact
Monday, April 12, 2021
Tank Storage Magazine
ADVERTISEMENT
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

To search please Login or Register for free.

Tank Storage Magazine

To search please Login or Register for free.

Home Terminal News

BP boosts bpd

March 19, 2008
in Terminal News
2 min read
Share on FacebookShare on TwitterShare on Linkedin

UK oil company BP has added around 2.4 billion new barrels to its non-proved resource base, which now stands at a further 42.1 billion barrels of oil equivalent.

The oil giant also added around 2.4 billion new barrels to its non-proved resource base, which now stands at a further 42.1 billion barrels of oil equivalent.

BP's position supports production potential of around 4.3 million barrels per day (bpd) by 2012, BP chief executive Tony Hayward says.

Assuming a $60 (€38) oil price, BP could boost output over the next four years and projects the capability to sustain production of at least 4 million barrels a day until 2020 without new discoveries or access to new opportunities.

'However, bearing in mind a rise in exploration spend to nearly $1 billion this year together with significant additions of fresh acreage in established areas such as the deepwater Gulf of Mexico and a continuing drive to access new provinces around the world, we expect to do better than this,' Hayward adds.

The company aims for an improvement in pre-tax profits of up to $4 billion within three to four years, assuming an average refining margin of $7.50 a barrel.

BP's likely capital spend for this year is set at between $21 billion and $22 billion, up from $19 billion in 2007. Some $15 billion was earmarked for upstream, $5 billion for downstream and $1.5 billion for the other businesses, including alternative energy. BP has a longer-term $8 billion plan to build a new business, based chiefly on biofuels, solar and wind power.

BP had found a major new reservoir below the Shah Deniz field in Azerbaijan, one of the largest discoveries in the world last year. Other big finds were made in Egypt, Angola and the Gulf of Mexico.

Next Post
placeholder

First US floating LNG terminal to go ahead

About Tank Storage Magazine

Tank Storage Magazine is published by Easyfairs UK Ltd.

Tank Storage Magazine is the leading industry publication dedicated exclusively to the bulk liquid storage and terminal sector.

It has been delivering the latest news, developments, analysis, products and innovations for 15 years.

Published 7 times a year, the publication is read by CEOs, terminal managers, business development managers and senior engineers within the oil, gas and petrochemical market.

Site Links

  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory
  • Home
  • Awards
  • News
  • Features
  • Tank Talk
  • Videos
  • Subscribe
  • Advertise
  • Events
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

No Result
View All Result
  • Home
  • Awards
  • News
    • All News
    • Terminal News
    • Technical News
  • Features
  • Videos
  • Tank Talk
  • Subscribe
    • Subscribe to Tank Storage Magazine
    • Digital Downloads – Purchase Individual Magazines
    • Newsletter Sign Up
  • Advertise
    • Magazine Advertising
    • Online Advertising
    • Request Media Kit
    • Download Independent Audit
  • Events
    • Global Events
    • Awards
    • StocExpo
  • Directory

© 2020 Easyfairs UK Ltd | 2nd Floor, Regal House | 70 London Road | Twickenham | TW1 3QS | United Kingdom | Registered in England No. 05067979

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In