Tuesday, Nov 24th

Last update04:10:09 AM GMT

You are here News Energy BP frozen out of Arctic oil drilling race

BP frozen out of Arctic oil drilling race

E-mail Print PDF

BP frozen out of Arctic oil drilling raceBP has been forced to abandon hopes of drilling in the Arctic, currently the centre of a new oil rush due to its tarnished reputation following the Gulf of Mexico spill.

The company confirmed tonight that it was no longer trying to win an exploration licence in Greenland, despite earlier reports of its interest. "We are not participating in the bid round," said a spokesman at BP's London headquarters who declined to discuss its reasons for the reverse.

The setback, which follows the announcement this week of a major find in the region by British rival Cairn Energy, is the first sign that the Gulf of Mexico disaster may have permanently damaged BP's ability to operate — not just in US waters, but in other environmentally-sensitive parts of the world.

Today the bureau of minerals and petroleum in Nuuk, the capital of Greenland, confirmed that the names of successful bidders for future exploration licences would be announced in the next couple of weeks.

The bureau refused to comment on widespread industry rumours that it had not considered BP specifically as a result of the recent Macondo well disaster in the US.


Most Recent Related Stories...

Scotland hosting new type of offshore wind program

Scotland floats new wind programThe Scottish government said it granted a license to the operators of what Edinburgh said may...

Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker...

Oil Industry Needs to Find Half a Trillion Dollars to Survive

Oil indusctry needs a trillion dollarsAt a time when the oil price is languishing at its lowest level in six years,...

Japan now has more car charging points than gas stations

Japanese charging pointsNissan Motor Co. has reported that Japan now has more places to charge electric vehicles than...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!