BP’s exit from Alaska was rumored long before it was officially announced on Tuesday. But that’s not the only reason the company’s $5.6 billion deal with Hilcorp is far from surprising, experts and industry insiders said.
North Slope
BP moves to exit Alaska, relinquishing role as operator of Prudhoe Bay
One of Alaska’s “Big Three” oil companies is stepping away from its major role in the state: BP is leaving its position as the company that oversees Prudhoe Bay.
ConocoPhillips’ next big oil project in Alaska takes another step forward
The company hopes to construct a new oil processing facility, up to five drill sites, about 40 miles of permanent roads, a gravel mine and hundreds of miles of pipelines and seasonal ice roads.
Trump’s path to ‘energy dominance’ in Alaska has a key opponent: Lawyers
Not long after Trump took office, former Interior Secretary Ryan Zinke famously proclaimed “the only path for energy dominance is a path through the great state of Alaska.” Two and a half years into the administration, lawyers have proven to be significant impediments to that path.
Initiative would increase state oil taxes, eliminate tax credits
Oil industry representatives say the initiative would hurt the industry.
Russian nuclear power plant afloat in Arctic causes anxiety across Bering Strait
A Russian barge mounted with nuclear reactors is expected to traverse the Arctic this month. Across the Bering Strait, Alaskans are worried — though one Arctic security expert also sees room for optimism.