Divers have now successfully installed a metal sleeve to the CATS pipeline at the location where a large vessel dragged its anchor causing damage to the pipeline.

BP Plc posted a 1 % drop in quarterly post-tax profit to $6.087 billion as production fell and refinery outages prevented the oil giant from taking full advantage of near-record refining margins.

BP Russian venture TNK-BP is likely to lose its license for the giant Kovykta gas project, although the Russian government could postpone the tough action until after the G8 Summit and its landmark economic forum.

BP announced on May 30th that Iain Conn has been appointed chief executive of the Group's refining and marketing business with effect from June 1, 2007.

BP's single biggest exploration commitment," says BP group chief executive.

On May 29th Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited announced that the 'Cordelia' oil discovery in ultra-deepwater Block 31, offshore Angola.

Russian regulators are set to discuss the withdrawal of the licence of BP's Russian venture to exploit the massive Kovykta natural gas field.

British Petroleum said on May 23rd it will shut down 100,000 barrels of Alaskan oil production for a "few days" after discovering a leaky pipe at a processing facility.

BP and Rio Tinto announced on May 21st that they are beginning feasibility studies and work on plans for the potential development of a A$2 billion (US$1.5 billion) coal-fired power generation project at Kwinana in Western Australia that would be fully integrated with carbon capture and storage to reduce its emissions of greenhouse gases.

BP Plc executives have been called to testify before a U.S. Congressional committee about corrosion and oil spills at its Alaska operations after again failing to turn over relevant documents, Reuters reported.