LSE:BP.Oil and Gas
BP Weighs Rumaila Shutdown Against LNG Arbitration Upside For Investors
BP has begun shutting down production at the Rumaila oil field in Iraq due to onshore storage constraints and tanker delays in the Persian Gulf.
The company is facing tanker traffic bottlenecks that are affecting crude liftings and near term output from one of its largest fields.
Separately, BP has secured an arbitration win against Venture Global LNG over sales from the Calcasieu Pass plant, with multibillion pound damages pending.
LSE:BP enters this phase of disruption and legal repricing...