BP’s New Offshore Project In India

Out of Azerbaijan, and Into India A current existing deal
between international oil giant BP (ticker: BP) and SOCAR in the
Azeri-Chirag-Guneshli (ACG) field is due to expire in 2024. A new
plan will take SOCAR’s stake in the field to 20 percent from the
current 11.6 percent while BP’s share is predicted to drop to 30
percent from the current 35.8 percent, according to a report
by Reuters. BP will remain the project operator. Oil
output in the ACG field has declined from 16 million tons a year
ago to 14 million tons, which…

Out of Azerbaijan, and Into India A current existing deal
between international oil giant BP (ticker: BP) and SOCAR in the
Azeri-Chirag-Guneshli (ACG) field is due to expire in 2024. A new
plan will take SOCAR’s stake in the field to 20 percent from the
current 11.6 percent while BP’s share is predicted to drop to 30
percent from the current 35.8 percent, according to a report
by Reuters. BP will remain the project operator. Oil
output in the ACG field has declined from 16 million tons a year
ago to 14 million tons, which…