UK major BP reports loss of over $20 billion as cost of existing stake in Rosneft and Russian oil and gas
UK major and global LNG sector participant BP reported a loss of $20.4 billion for the first quarter of 2022 as it booked a series of charges and impairments related to its exit from Russian oil and natural gas amid Russia’s invasion of Ukraine.
BP China LNG deal
July 9 (LNGJ) - BP signed a supply agreement for regasified LNG with China’s ENN Group in support of the growing energy needs of the southern province of Guangdong. Under the terms of the agreement, BP will provide ENN with 300,000 tonnes per annum of pipeline gas regasified from LNG for a period of two years from January 2021. The LNG will be received and regasified through the receiving terminal of Guangdong Dapeng LNG where BP holds regasification capacity.
“This is the first time an international energy company will regasify LNG through a Chinese terminal and also directly supply gas to customers,” said Dev Sanyal, executive vice president of BP Gas. “We look forward to further cooperating with ENN and contributing to China’s ever growing energy demand,” added Sanyal.
