BP cancels contracts for $10 billion Gulf of Mexico Mad Dog extension
LONDON -- BP has cancelled contracts to build a $10 billion extension to its Mad Dog oil project in the Gulf of Mexico, which had been expected to begin by the end of the year, Reuters reported on its website, citing three people in the industry familiar with the decision.
It was not clear if the cancellation could lead to a smaller, less costly, version of the project, the people told Reuters.
BP declined comment on the status of the contracts to Reuters.
Dow Jones Newswires