BP

BP has cut its development budget for Iraq?s giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State of Iraq and the Levant (ISIL) was making it difficult to pay oil companies.

Turkey and its partners in the Trans-Anatolian Natural Gas Pipeline (TANAP) will hold talks with "one or two" foreign companies for possible partnerships, Turkey's Energy Minister said on May 4.

Energy Minister Taner Y?ld?z said he could not name the companies involved, as they were publicly traded in an energy panel in Istanbul. 

The British government has warned oil giant BP that it would oppose a foreign takeover of the company weakened in recent years by the Gulf of Mexico oil spill, media reports said on April 27.

"The government has met with BP in recent days to express its opposition to any potential takeover of the oil major," the Daily Telegraph reported.

A estimated deposit of  up to  100 billion barrels was discovered by a small British petroleum company, whose stock skyrocketed by over 200% in the wake of the announcement.

UK Oil & Gas Investments’ stock finally closed at 169% after the company announced that it found double the amount of oil drawn from the North Sea in the last 40 years.

Energy giant BP signed an agreement on March 13 to acquire a 12 percent stake in the Trans-Anatolian Natural Gas Pipeline Project (TANAP).

British oil company BP expects to invest around $12 billion with its partners as part of a finalized West Nile Delta concession deal to develop 5 trillion cubic feet of gas resources and 55 million barrels of condensates.

Shareholders in the Trans Adriatic Pipeline designed to carry gas from Azerbaijan to Europe via Turkey and Greece, are working to double its capacity, a Greek daily reports.

Their move comes against the background of Russia's decision to botch the South Stream project announced last week, Kathimerini writes.

The newly planned gas pipeline between Russia and Turkey will not make any negative effect on the TANAP as the 16 billion cubic meters of TANAP gas a year will already be sold, says a BP representative An executive from British Petroleum (BP) has downplayed potential impacts on the Trans-Anatolian gas pipeline (TANAP), a proposed natural gas pipeline from Azerbaijan running through Turkey, upo

Turkmenistan has signed an outline deal with Turkey to supply gas to a new pipeline that could help Europe reduce its dependence on Russian gas imports.

The two countries struck a so-called framework agreement on Oct. 7 for Turkmenistan, which is keen to diversify exports of its gas to world markets, to supply gas to the proposed Trans-Anatolian natural gas pipeline project (TANAP).

Bulgaria should specify the point at which it will receive gas from Azerbaijan by 2020, the deadline for the completion of the Trans-Adriatic pipeline (TAP), according to Rovnag Abdullayev, President of the State Oil Company of Azerbaijan Republic (SOCAR).