Certain units at BP (BP.L) Whiting Refinery in Indiana, US, briefly lost electric power on Sunday night.
The oil and gas company said in an emailed statement on Thursday that power was quickly restored, with the issue attributed to electrical systems. It added that the power interruption was not due to the operator's actions.
The statement comes after media speculation regarding the event and its impact on gas prices. BP said it does not speculate on market pricing or set oil prices.
BP (BP) has signed an agreement with Venezuela to explore offshore natural gas, as the country's energy sector gathers momentum following the US capture of Nicolas Maduro in January, Bloomberg reported on Wednesday.The memorandum of understanding between BP and Caracas outlines "potential areas for co-operation in material gas and future exploration," the company said.The agreement comes amid renewed interest from international energy companies in Venezuela, with an energy conference in Caracas drawing strong participation from global investors.For BP, the move aligns with Chief Executive Meg O'Neill's strategy to rebuild long-term reserves as the company pivots back toward oil and gas after scaling back several low-carbon efforts in recent years.
Oil-rich African nations said they will continue drilling to support economic growth, despite global efforts to phase out fossil fuels, AFP reported from ongoing talks in Colombia.Officials from several producers argued that a rapid transition away from oil and gas is not feasible given their reliance on fossil fuel revenues."Not phasing out - phase down. That is the message," said Onuoha Magnus Chidi, an adviser to Nigeria's regional development minister, to AFP.Delegates warned that an abrupt shift could lead to job losses and economic disruption, calling for financial support and policy flexibility to help manage the transition, AFP said.