This extension marks a continued collaboration that has been in place since the initiation of the agreement in 1998.

The appointment is anticipated to be announced in the first quarter of the next year.

The pause means ships cannot use the Suez Canal, necessitating longer voyages around Africa, leading to increased costs, delays, and heightened demand for vessels.

The transaction, valued at £254 million ($320.65 million), supports BP's objective to meet its demand for low-emissions electricity and contributes to its renewable energy capacity goals.

While BP aimed to export the gas, the Senegalese government insisted on utilizing it domestically to fuel power plants.

Developed by Neptune Energy, the Seagull field serves as a subsea tieback to the BP-operated central processing facility of the Eastern Trough Area Project.

This financial strength has prompted significant dealmaking activities in the sector, as demonstrated by recent major acquisitions by Exxon Mobil Corp. and Chevron Corp., which collectively exceeded $100 billion.

This departure comes just weeks after the resignation of BP's global CEO, Bernard Looney.

This change came after the resignation of Bernard Looney from the CEO position.

BP recently announced the appointment of its Chief Financial Officer as the interim CEO following the resignation of Bernard Looney amidst an ongoing investigation into personal relationships with colleagues. But who are they?