BP crisis pushes Big Oil further into deep water

As thousands of barrels of oil continue to spill into the Gulf of Mexico, energy giant BP has seen its bond spreads widen to unprecedented levels. What will be the implications for Big Oil, and can investors factor in tail risks of this magnitude?

Firefighters tackle a blaze on the Deepwater Horizon oil rig

After an explosion on April 20, the Deepwater Horizon oil rig owned by BP crumbled and sank into the Gulf of Mexico, precipitating what US president Barack Obama has called “the worst environmental catastrophe America has ever faced”. At the time of writing, the leak in the well had still not been plugged.

Initial BP estimates suggested 1,000 barrels of oil a day were being lost, but that figure has been revised dramatically upwards. On June 15, the US government said between 35,000 and 65,000

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Chartis Energy50 2023

The latest iteration of Chartis' Energy50 2023 ranking and report considers the key issues in today’s energy space, and assesses the vendors operating within it

2021 brings big changes to the carbon market landscape

ZE PowerGroup Inc. explores how newly launched emissions trading systems, recently established task forces, upcoming initiatives and the new US President, Joe Biden, and his administration can further the drive towards tackling the climate crisis

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