BP Invasion of Great Australian Bight (Great Australian Bight Marine National Park, PARK)

Tue Aug 9, 2016 | 12:43 AM EDT Exclusive: BP seeks buyers for China petchem JV stake in up to $3 billion deal - sources The logo of BP is on display at a petrol station in Vironvay, France, August 2, 2016. REUTERS/Jacky Naegelen The logo of BP is on display at a petrol station in Vironvay, France, August 2, 2016. Reuters/Jacky Naegelen Exclusive: BP seeks buyers for China petchem JV.. By Arno Schuetze and Denny Thomas | FRANKFURT/HONG KONG (Reuters) - British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2-$3 billion, people familiar with the matter told Reuters. BP has hired an investment bank to sell its shareholding in SECCO as part of a drive to cash out of businesses where it lacks control, the people added. A successful deal would mark BP's first significant exit from a business in China. Situated in Caojing near Shanghai, SECCO is China's largest petrochemicals refinery and was built at a cost of $2.7 billion, according to BP's website. State-owned China Petroleum & Chemical Corp (Sinopec) and one of its units hold the other half of SECCO, according to the website. A London-based BP spokesman declined to comment, and Sinopec did not offer immediate comment. SECCO, a venture formed in 2001, produces ethylene and propylene, which are used to make resins, plastics and synthetic rubbers. While Sinopec has the right of first refusal on the potential sale, bankers said Chinese state enterprises are unlikely to step in to buy the stake as executives at many of them are distracted by anti-corruption probes. BP's stake has been marketed to existing refinery operators in China, including companies from Japan, South Korea, Taiwan and Europe, the people added. BP, lik ================ e other global oil and gas companies, has been sharpening its focus on costs and core businesses as it reels from lower oil prices. It has sold more than $50 billion of assets since the deadly 2010 Gulf of Mexico oil spill in order to pay for clean-up costs and legal bills. This year, it plans to offload between $3 billion and $5 billion worth of assets, of which $1.9 billion has been agreed, it said when releasing second-quarter earnings last month. (Reporting by Arno Schuetze in FRANKFURT and Denny Thomas in HONG KONG; Additional reporting by Ron Bousso in LONDON and Tris Pan in HONG KONG; Editing by Will Waterman) BP map reveals the locations in the Great Australian Bight it wants to drill for oil http://ab.co/2b9KD3r Name: Great Australian Bight Feature: BGHT Class: Geographical name in terms of the Geographical Names Act, 1991 - is applied to natural features and major cultural features such as towns. The feature still exists. Local Govt. Area: Out of Councils 50K Map Sheet: 5231 2

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Protesters opposed to BP oil drilling in Great Australian Bight gather at Victor Harbor https://t.co/9ZMywXrfkT pic.twitter.com/Bb3G5JRgas

— ABC News Adelaide (@abcnewsAdelaide) August 7, 2016

============================== BP drilling sites in Great Australian Bight 'couldn't be more inappropriate', Wilderness Society says By Daniel Keane Posted yesterday at 3:50pm Wilderness Society map Photo: The Wilderness Society's map is based on one supplied by BP. (Supplied: Wilderness Society) Related Story: Protesters rally against BP's Great Australian Bight drilling plans Related Story: BP fails to win Bight oil search nod but can try again Related Story: Sea Shepherd turns attention to BP's Bight drilling plans Map: Port Lincoln 5606 The Wilderness Society has released a map of the Great Australian Bight it says pinpoints the spots where BP wants to drill as part of its exploration plans. The map is based on one obtained by the conservation group from the petroleum giant and shows two sites, Stromlo and Whinham, both of which fall within the Great Australian Bight Marine Park. The Wilderness Society's SA director Peter Owen said while BP's map was "very low resolution" and "hard to read", it was the first time precise locations had been made public. BP Great Australian Bight map Photo: BP map locating proposed drilling sites in the Great Australian Bight. (Supplied: Wilderness Society) He said both sites occur within what is known as the Bight's benthic protection zone, which is home to a rich diversity of sea floor creatures. "There couldn't be a more inappropriate place to be proposing to drill than this," he said. "We've been asking for this information for years now and they've been hesitant to put anything public. "When we've overlaid the marine park boundaries [on BP's map] it would appear that they're proposing to drill right in the middle of the marine park." BP wants to drill four exploration wells up to 2.5 kilometres deep off South Australia's west coast, about 400 kilometres west of Port Lincoln. In a document accompanying its map, the company said: "The titleholders can now simplify the plan and reduce uncertainty by seeking permission only for the first two wells (marked as Stromlo and Whinham in the chart). "In BP's view this does not introduce any new activities, or new or different risks or impacts to the environment." Strong business case for drilling: APPEA Sea Shepherd's vessel the Steve Irwin will stop over in Victor Harbor early Sunday before heading to the Great Australian Bight to protest against the proposed drilling. The flagship environmental vessel will moor off Granite Island about 7:00am and opponents of the drilling plan, including Nick Xenophon Team MP Rebekha Sharkie, will hold a protest in Victor Harbor. The Sea Shepherd Conservation Society ship, the Steve Irwin, refuels in Hobart Photo: The Steve Irwin will make a brief stopover in Victor Harbor. (Dave Hudspeth: ABC News) "A disaster out here would potentially destroy one of the world's great wilderness areas," Mr Owen said. "It would seriously damage southern Australia's tourism industry, our fishing industry, our coastal way of life. We simply just can't be taking these types of risks." In May, BP's environmental plan for its proposed oil search failed to win regulatory approval for a second time. In 2010, 11 people died when the Deepwater Horizon oil rig exploded and sank off the coast of Louisiana with about 4.9 million barrels of oil escaping. But the Australian Petroleum Production and Exploration Association (APPEA) said the local industry had a strong environmental track record. It said local businesses stood to gain substantially if drilling was approved. "Businesses are acutely aware of the importance of petroleum development to future growth," APPEA director Matthew Doman said. "The Ceduna Airport is being upgraded to handle helicopter flights and Port Adelaide is being developed to include a dedicated oil and gas marine supply base." Topics: environment, environmental-impact, oil-and-gas, industry, mining-environmental-issues, port-lincoln-5606, sa ========================================= Top Tweet Lenore Taylor Lenore Taylor @lenoretaylor Aug 5 BP reveals Great Australian Bight oil drilling sites are within marine reserve theguardian.com/business/2016/… View summary · Reply Retweet Like Top news story Allan Margolin Allan Margolin @AllanMargolin 2h #BP reveals Great Australian Bight #oildrilling sites are within #marinereserve ow.ly/lPxe302ZiSe via @guardian @EnviroDi @krONik View summary · Reply Retweet Like Dr Can Erimtan follows #ClimateHour #ClimateHour @ClimateHour 1h BP drilling sites in Great Australian Bight 'couldn't be more inappropriate', Wildern... abc.net.au/news/2016-08-0… pic.twitter.com/CGDZ8thrYT View photo · Reply Retweet Like ABC News Melbourne retweeted ABC News Adelaide ABC News Adelaide @abcnewsAdelaide 2h Protesters opposed to BP oil drilling in Great Australian Bight gather at Victor Harbor ab.co/2aZZHUE pic.twitter.com/Bb3G5JRgas View photo · Reply Retweet Like Rebecca Dollery follows Rachel Siewert Rachel Siewert @SenatorSiewert 3h Outrageous - has been confirmed that BP wants to drill in Great Australian Bight Marine Reserve tinyurl.com/jkt5oqo #saveoursanctuaries View summary · Reply Retweet Like alec urquhart follows Nicola Gage Nicola Gage @Nicola_Gage 6h Newly elected NXT MP @MakeMayoMatter speaking at protest against Great Australian Bight drilling @abcnews pic.twitter.com/0l6s2shLG1 View photo · Reply Retweet Like Nicola Gage Nicola Gage @Nicola_Gage 6h Big turn out in Victor Harbor to protest against drilling in Great Australian Bight @abcnews @Wilderness_Aus pic.twitter.com/V8WvY3hp17 View photo · Reply Retweet Like Anglesea After Coal Anglesea After Coal @AngleseaAC 18h It is time @SHendersonMP. The Fed Govt needs to rule out oil & gas drilling in the pristine Great Australian Bight too @LakesOil @wadenoonan View conversation · Reply Retweet Like Gilly Llewellyn Gilly Llewellyn @GillyLlewellyn 20h A deep-water canyon, ocean conditions more challenging than the Arctic: What could go wrong ? theguardian.com/business/2016/… View summary · Reply Retweet Like Bryce Stewart Bryce Stewart @BD_Stew 21h You cannot be serious! @BP_plc reveals Great Australian Bight #oil drilling sites are within #MarineReserve theguardian.com/business/2016/… View summary · Reply Retweet Like Janie Barrett follows Greenpeace Aus Pac Greenpeace Aus Pac @GreenpeaceAP 22h BP's finally revealed their Great Australian Bight oil drill sites are in a marine reserve. bit.ly/2aNt2NU pic.twitter.com/pDkOLzr1g9 View photo · Reply Retweet Like Carmen Brown follows Bob Brown Bob Brown @BobBrownFndn 22h Environment minister @JoshFrydenberg will ban BP's oil drill from Gt Aust Bight Marine Park won't he? Bob Brown. theguardian.com/business/2016/… View summary · Reply Retweet Like ABC News retweeted ABC News Adelaide ABC News Adelaide @abcnewsAdelaide 23h BP map reveals the locations in the Great Australian Bight it wants to drill for oil ab.co/2b9KD3r pic.twitter.com/bweNlsWQre View photo · Reply Retweet Like Nine News Adelaide retweeted Nine News Sydney Nine News Sydney @9NewsSyd Aug 5 Oil giant BP details plans to drill in Great Australian Bight within commonwealth marine reserve: 9news.com.au/national/2016/… #9News View summary · Reply Retweet Like UNICEF follows Greenpeace NZ Greenpeace NZ @GreenpeaceNZ Aug 5 BP has quietly announced its first big offshore drilling venture since Deepwater Horizon ... In deeper, rougher seas theguardian.com/business/2016/… View summary · Reply Retweet Like David Scott Aubrey David Scott Aubrey @davidakaclean Aug 5 theguardian.com/business/2016/… Doesn't this defeat the very CONCEPT of a Reserve?! Who approved this?! #auspol View summary · Reply Retweet Like sandra Ⓥ☮♒☯♻ sandra Ⓥ☮♒☯♻ @sandreti Jul 28 I've just joined the Great Australian Bight Alliance to keep BP out of the Bight. Sign the statement of concern NOW! fightforthebight.org.au/?recruiter_id=… View details · Reply Retweet Like Load older Tweets