BP reveals ‘significant’ Gulf of Mexico oil discovery

Energy giant BP today announced it has made a “significant” deepwater oil discovery in the US Gulf of Mexico. It was made at the Gila prospect, which it co-owns with ConocoPhillips and is BP’s third discovery in recent years. BP previously announced two other Paleogene discoveries in the Gulf of Mexico – Kaskida in 2006 […]

Hurricane Isaac cuts power supply for thousands

Thousands of homes on the east of the United States were left without power this morning after Hurricane Isaac hit southeastern Louisiana late yesterday. US supplier Entergy said 409,000 customers were without electricity this morning after high winds sparked “extensive” outages across its power grid. Repair efforts were being impaired by the storm’s lingering high […]

BP says gulf spill has cost $350m

Oil major BP has said that the Gulf of Mexico spill has so far cost it $350m (£233m). In a statement released yeaterday, the company did not speculate on the final bill, but many analysts expect the final figure to hit $10bn. BP said its figure included the cost of the immediate response, containment, relief […]