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BP seeks to recoup ''windfall'' Gulf spill payments

Last Updated: Saturday, June 28, 2014, 09:33

BP said the uncapped settlement could cost USD9.2 billion, higher than its original USD7.8 billion estimate, and that this amount could grow.

New gas rates to be applicable from Apr 1: RIL to buyers

Last Updated: Wednesday, May 14, 2014, 15:03

Forced to sell gas at rates that have long expired, Reliance Industries has categorically told buyers of its KG-D6 gas that new rates as and when approved, will apply from April 1.

BP, Niko to formally join RIL arbitration against Govt

Last Updated: Wednesday, March 19, 2014, 16:11

Faced with a situation where the near double gas rate of USD 8 per million British thermal unit from next month not accruing to them, BP and Niko are said to be planning to formally issue a Notice of Arbitration (NoA).

US court rejects BP appeal over Gulf spill losses

Last Updated: Tuesday, March 04, 2014, 09:48

A divided U.S. appeals court on Monday rejected BP Plc`s bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster.

Oil Ministry seeks legal opinion on RIL bank guarantee

Last Updated: Friday, February 21, 2014, 20:27

The Oil Ministry has sought legal opinion on whether bank guarantees to cover the increase in gas prices from April need to be furnished by Reliance Industries alone or by partners BP and Niko Resources as well.

BP seeks licence to sell jet fuel in India

Last Updated: Wednesday, February 05, 2014, 19:47

BP Plc, Europe's second-largest oil company, has applied for licence to retail jet fuel or ATF at airports in India, Oil Secretary Vivek Rae said Wednesday.

RIL-BP to quadruple KG-D6 output to 50 mmscmd by 2020

Last Updated: Sunday, January 19, 2014, 17:10

Having reversed the falling output at KG-D6, Reliance Industries and its partner BP plc will quadruple production at the eastern offshore fields to around 50 million standard cubic meters per day by 2020.

RIL-BP avert shutdown of KG-D6 fields

Last Updated: Sunday, January 12, 2014, 15:58

With Oil Minister M Veerappa Moily approving of the remedial measures that were pending for nearly 18 months, RIL-BP last week added the first production well on the block in more than four years to ramp up output by over 15 per cent to 13.7 million standard cubic metres per day.

US appeals court affirms BP settlement in 2010 Gulf oil spill

Last Updated: Saturday, January 11, 2014, 10:44

BP had supported the settlement agreement leading up to the December 2012 ruling by U.S. District Court Judge Carl Barbier approving it. But the company has since argued the administration of the settlement is faulty because it allows claimants without actual damages to join in.

BP says subsidy, bottlenecks hurt India investment prospects

Last Updated: Thursday, January 09, 2014, 23:20

BP Plc, the largest foreign investor in India's energy sector, today said a non-conducive business environment and subsidies have diluted the country's attractiveness to investors.

RIL to increase KG-D6 gas output

Last Updated: Friday, January 03, 2014, 13:34

RIL and its partners BP plc of UK and Canada's Niko Resources have spud the seventh well on the MA oil and gas field in the KG-DWN-98/3 or KG-D6 block in Krishna Godavari basin.

Court rejects BP bid to require proof of Gulf oil spill losses

Last Updated: Wednesday, December 25, 2013, 10:19

BP Plc has failed to persuade a federal judge to require businesses seeking to recover money over the 2010 Gulf of Mexico oil spill to provide proof that their economic losses were caused by the disaster.