BP Suspends Costly Alaska Oil Project
From Reuters
BP has indefinitely suspended a $1.5 billion offshore oil project in Alaska due to cost overruns and technical setbacks, a company spokeswoman said on Monday.
An 18-month company review concluded that the Liberty project, a field with about 100 million barrels of recoverable oil, should not go forward as planned, said Dawn Patience with BP Exploration (Alaska) Inc.
