John Browne News
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Anadarko Petroleum Corp., a partner in the BP Plc well that was the source of the largest U.S. offshore spill, asked a federal judge in Texas to throw out a lawsuit claiming the company misled investors over the project’s risks before and after the blowout.
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The thickness of shale rock in northwest England will allow gas production with minimal disruption above the surface, the head of the explorer aiming to drill in the area said.
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BP Plc, attempting to recover from an oil spill that may cost it $42 billion, said it will sell shares in wind assets worth as much as $3.1 billion in the U.S. in another step to focus on its main oil and gas business.
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On April 20, 2010, BP ’s Deepwater Horizon rig exploded, killing 11 men and injuring 17. During the next three months, 200 million gallons of oil gushed uncontrollably into the Gulf of Mexico, leading to the worst ecological disaster in U.S. history.
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Two U.K. drillers are taking the lead in exploring for the country’s first shale gas after a moratorium ended, with one of them backed by ex-BP Plc chief John Browne and the other soon to count China as an investor.
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With $14 billion from selling out of TNK-BP, Mikhail Fridman and German Khan’s Alfa Group is planning to return to the oil industry and expand worldwide, according to Stan Polovets, chief executive officer of the Alfa- Access-Renova Consortium, which owned the Russian oil venture 50:50 with BP Plc.
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John Browne , the former chief executive officer of BP Plc asked to review U.K. university funding, rejected the option of a graduate tax and proposed removing the current cap on tuition fees.
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BP Plc’s Russia chief will leave the company to become chief executive officer of Fairfield Energy, a private-equity-owned North Sea oil producer where former BP CEO John Browne is a board member.
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BP Plc’s decision to consider selling out of its Russian venture signals the end for John Browne’s vision of a British driller able to challenge Exxon Mobil Corp. as the world’s largest publicly-traded oil producer.
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Cuadrilla Resources Ltd. is in advanced talks to sell a stake in its U.K. shale gas operations, according to shareholder AJ Lucas Group Ltd.
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