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BP Announces New Oil Discovery Off US Gulf Coast [Barron's]
Last chevron corporation earnings: 5/1 06:45 am
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US:NYSE Investor Relations: chevron.com/investors
The company said it had located oil at the Far South prospect. "This discovery in the deepwater Gulf of America underscores how BP is in action to step up investment in exploration and strengthen its upstream portfolio under the strategy reset announced in February," BP said in a statement, using President Donald Trump's new name for the Gulf of Mexico. In an executive order signed hours after he returned to the White House, Trump called the water body an "indelible part of America" critical to US oil production and fishing and "a favorite destination for American tourism and recreation activities." Andy Krieger, BP senior vice president for Gulf of America and Canada, described its Gulf business as "central to BP's strategy". The company's history with the US Gulf coast is synonymous with the explosion on the BP-leased Deepwater Horizon rig in April 2010 that triggered the worst oil spill in US history. The disaster killed 11 employees and cost the firm tens of billions of
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