BP Ventures has invested $ 5 million in Belmont Technology’s solution to further expand the artificial intelligence (AI) and digital capabilities in its upstream business. The investment is to support the ongoing work exploring opportunities to apply machine learning and cognitive computing in its global oil and gas business.
BP has agreed to sell its Forties Pipeline System (FPS) business, with assets including the main Forties offshore and onshore pipelines and other associated pipeline interests and facilities, to Ineos.
RIL, BP and Niko have issued a Notice of Arbitration to the Government of India: The oil companies want to force authorities to implement the “Domestic Natural Gas Pricing Guideline 2014”, which could bring them higher prices.
British oil multi BP has finished the last major milestones of its refinery upgrading project at Whiting, Indiana, USA. The start–up of a new 102,000 barrel per day coker in mid-November was the last big step in the project, designed to create US $ one billion per annum of additional future operating cash flow.
Technip was awarded by JBF Petrochemicals, a wholly–owned subsidiary of JBF Industries, an important contract for a 1.25 million tons per year latest-generation purified terephthalic acid (PTA) unit, to be located in the Special Economic Zone in Mangalore, India. PTA is the primary feedstock for polyesters used in textiles and packaging.