Sentence examples for exploration unit from inspiring English sources
"We have learned a lot in 30 years," said F. X . O'Keefe the head of BP's Alaska Exploration unit.
Profit at the company's production and exploration unit fell to $3.81 billion in the second quarter, down $6.2 billion compared with a year earlier.
BP called the suspension and disqualification of the exploration unit "punitive, arbitrary and capricious" and said the court should declare the bans "null, void and unenforceable".
The oil company, Rosneft, will buy 25.94 percent of TNK-BP's oil exploration unit from Interros Holding, which is owned by Mr. Potanin and another Russian billionaire, Mikhail Prokhorov.
"The drive is to do no damage to the environment," said Mr. O'Keefe of BP's Alaska Exploration unit, echoing the "no damage" theme heard so often in BP offices from London to Anchorage.
DealBook » German Power Company Said to Hire Deutsche Bank | RWEWE, a German utility company, has hired Deutsche Bank to market its oil and natural gas exploration unit, worth an estimated $10 billion, Bloomberg News reports.
By the same token, it can take ten years or more to develop an oilfield after its discovery and that does not include the time firms need to bolster their exploration units.Gary Becker, an economist at the University of Chicago, has calculated that in the past, over periods of less than five years, oil consumption in the OECD dropped by only 2-9% when the price doubled.
BP, which was lagging behind its peers (its third-quarter profit was down 29% to $4.41 billion), overhauled its corporate structure and reduced the number of its major business segments by incorporating its natural-gas and renewable-energy units into its exploration and production unit and its refining and marketing unit.
Profit from its exploration and production unit dipped to $3.43 billion from $3.5 billion last year.
The E.P.A. also disqualified BP's exploration and production unit from federal contracts in February 2013.
Earnings at Shell's exploration and production unit dropped 77percentto to $1.33 billion, from $5.9 billion a year ago, mostly on lower oil prices.
