{"id":365900,"date":"2011-04-04T09:41:34","date_gmt":"2011-04-04T09:41:34","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/04\/bp-seeks-to-resume-gulf-drilling\/"},"modified":"2011-04-04T09:41:34","modified_gmt":"2011-04-04T09:41:34","slug":"bp-seeks-to-resume-gulf-drilling","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/04\/bp-seeks-to-resume-gulf-drilling\/","title":{"rendered":"BP seeks to resume Gulf drilling"},"content":{"rendered":"

\n \t\t
\n 4 April 2011<\/span>
\nLast updated at <\/span>05:41 ET<\/span>
\n<\/span><\/p>\n

BP is close to reaching an agreement that would allow it to restart drilling for oil in the Gulf of Mexico.<\/p>\n

US regulators dismissed reports of a “done deal”, but it is thought that BP has been given informal approval.<\/p>\n

The oil giant has asked to restart work on existing wells in the Gulf, where a BP rig explosion last year killed 15 workers and caused a huge oil spill.<\/p>\n

Despite media reports of an agreement, the Bureau of Ocean Energy Management said “there is no such deal”.<\/p>\n

However, the BBC’s business editor, Robert Peston, understands that BP has been told privately that it should be able to resume drilling in July.<\/p>\n

The issue is sensitive for BP and the Obama administration as the oil spill is still fresh in the minds of Gulf communities and environmental groups.<\/p>\n

\n\tContinue reading the main story<\/a>\t\t<\/p>\n

\u201cStart Quote<\/span><\/h2>\n
\n

I am told that US regulators have given it [BP] an informal nod\u201d<\/p>\n<\/blockquote>\n

End Quote<\/span><\/p>\n

\t<\/p>\n

\t\n\t\t<\/div>\n

BP would like to restart work on 10 existing wells, all in deep water locations. <\/p>\n

The company’s rivals have been given permission to resume drilling on existing operations. New deep water explorations are still banned.<\/p>\n

Metal deal<\/span><\/p>\n

Meanwhile, BP has announced that it has agreed to sell Arco Aluminum, a supplier of rolled aluminium sheet used mainly in the production of drink cans, to a consortium of Japanese companies for $680m (\u00a3420m) in cash.<\/p>\n

BP is hoping to raise $30bn from disposals by the end of 2011 to help pay for the clean-up and compensation for the Deepwater Horizon disaster.<\/p>\n

The company has already agreed deals worth a total of more than $24bn.<\/p>\n

BP’s chief executive, Bob Dudley, said in a statement: “Although a strong business, Arco Aluminum is clearly a non-strategic asset for BP. Today’s agreement will deliver an attractive price for the business, unlocking its value for our shareholders.”<\/p>\n

Later on Monday, BP returns to an arbitration tribunal as part of a continuing dispute with shareholders in its Russian joint venture, TNK-BP.<\/p>\n

The shareholders, known as AAR, are trying to block a share-swap and Arctic exploration pact between BP and Russia’s Rosneft.<\/p>\n

AAR has already blocked the exploration deal, and now wants to block the share swap, arguing that it breaches a pre-existing TNK-BP agreement.<\/p>\n<\/p><\/div>\n<\/p>\n

Continue reading here:
\nBP seeks to resume Gulf drilling<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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