BP begins marketing Thunder Horse crude: traders

Tue Aug 12, 2008 9:23am EDT
 
[-] Text [+]

NEW YORK (Reuters) - BP Plc (BP.L) has begun marketing production from its 250,000 barrels per day Thunder Horse oil field in the U.S. Gulf of Mexico, U.S. cash crude traders said on Tuesday.

BP was offering Thunder Horse crude at prices comparable to light sour Eugene Island for September pipeline injection, traders said.

BP began early production at Thunder Horse in June and was producing more than 40,000 barrels per day of oil as of the end of July.

BP owns 75 percent of the field and is its operator. Exxon Mobil Corp (XOM.N) owns the remaining 25 percent stake.

(Reporting by Robert Campbell)

 

commentary

An investor uses his mobile phone at the Dubai Financial Market December 1, 2009. REUTERS/Mosab Omar
Is Dubai bad news for the rest of us?

Financial markets went down on Dubai because they have become addicted to moral hazard and anything that doesn't conform with the idea that all shall be bailed out is scary.  Commentary