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BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell...

Feb. 05, 2013 2:17 PM ETBP p.l.c. (BP) StockBP, SHELBy: Carl Surran, SA News Editor4 Comments
BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell (NYSE:RDS.A); BP produced ~185,000 bbl/day in the Gulf's deep waters in 2012, down nearly a third Y/Y, while Shell produced ~191K bbl/day, a 4% drop. Among BP's $38B in asset sales since 2010 were Gulf fields valued at $5.6B, but it plans to bounce back with $4B/year in Gulf investments over the next decade.

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