BP scraps controversial Australian oil exploration site

BP scraps controversial Australian oil exploration site
 

BP has abandoned a plan to drill for oil off the south coast of Australia.
Greenpeace hailed the decision as a "momentous win" describing the area - known as the Great Australian Bight - as a "pristine marine reserve".
BP was awarded exploration licences in 2011, but has struggled to receive approval from Australian regulators.
The oil company said that, after a review of its oil projects, it had decided the Australian proposal was not as competitive as other opportunities.
"We have looked long and hard at our exploration plans for the Great Australian Bight but, in... read more

 
11 October 2016 in Business, Views: 39
Source: BBC
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