BP in joint bid for deep sea licence
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.BP is understood to be teaming up with US oil giant Chevron to bid for a deep sea exploration licence in the South China Sea. Chevron will hold the majority stake and will be the operator of the concession, according to reports in the Wall Street Journal.
The move indicates BP remains undeterred by the ongoing catastrophe in the Gulf of Mexico following the explosion of the Deepwater Horizon rig in April. If the Chinese exploration is successful, the China National Offshore Oil Corporation has the right to take a 51 per cent stake in the block.
BP refused to confirm or deny the speculation yesterday. "We look at business opportunities all over the world but we cannot comment on specifics," a spokesman for the group said.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments