BP frozen out of Arctic oil drilling race

[Turborama]

Source: The Guardian

Terry Macalister in Nuuk -
Wednesday August 25 2010 19.30 BST -


BP confirmed it was no longer trying to win an exploration licence
in Greenland (above). Photograph: John McConnico/AP

BP has been forced to abandon hopes of drilling in the Arctic, currently the centre of a new oil rush due to its tarnished reputation following the Gulf of Mexico spill.

The company confirmed tonight that it was no longer trying to win an exploration licence in Greenland, despite earlier reports of its interest. "We are not participating in the bid round," said a spokesman at BP's London headquarters who declined to discuss its reasons for the reverse.

The setback, which follows the announcement this week of a major find in the region by British rival Cairn Energy, is the first sign that the Gulf of Mexico disaster may have permanently damaged BP's ability to operate — not just in US waters, but in other environmentally-sensitive parts of the world.

=snip=

But senior sources confirmed to the Guardian that both the Greenland government and BP had agreed it would be inappropriate for the company to be involved. "With the Greenpeace ship already harassing Cairn off Greenland — a company which has an exemplary safety record – everyone realised it would be political madness to give the green light to BP," one source said.

Read more: http://www.guardian.co.uk/environment/2010/aug/25/bp-arctic-greenland-oil-drilling

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Contestant for headline of the year...

[Joe Chi Minh]

1. "With the Greenpeace ship already harassing Cairn off Greenland

— a company which has an exemplary safety record – everyone realised it would be political madness to give the green light to BP," one source said.

Tee-hee! Even two swallows don't make a summer, but what with the Sea Shepherd giving sonar protection to the whales and this, it's a welcome shaft of sunlight, while corporatism shrinks back a fraaction, as if faced by garlick, a stake and a cross.

[Dover]

2. The oil companies are probably thrilled about the melting Arctic region

while simultaneously being responsible (ie carbons) for the cause of it.

And even as our little planet heaves and gasps for air and relief from the toxic abuses, big oil would continue to exploit her weakened condition for profit.

[Joe Chi Minh]

3. Disaster capitalism at its finest. Apocalypse capitalism, anyone?

[Jack_DeLeon]

4. Fuck BP...

I prefer my hydrocarbons come from an American firm.

[dipsydoodle]

5. You might want to check out BP's ownership sometime.

.

[Lightning Count]

6. Tony Hayward's Yonkers accent is a dead give-a-way. nt

[dipsydoodle]

7. Is there something about ownership

you can't quite grasp. Hayward's shares are minimal in context with BP's overall shares. JP Morgan Chase have the highest stock holding @ c. 28%.