BP Abandons Arctic Drilling Interests in Greenland

With a rubber stamp of disapproval in the Gulf of Mexico, the oil company is reportedly having difficulty convincing other countries to partake in an offshore handshake. The Guardian learned that BP has relented on its interest in procuring an exploration license in Greenland. A company spokesman told the paper that it removed itself from bid-round contention, and further sources note that the decision stemmed from a mutual agreement between BP and Greenland over the inappropriateness of the oil company's participation. In the oil world, this is code for 'we're breaking up', 'you're out of the club' or other relevant adult adages. (Can BP ever rebuild its reputation?) The setback, which follows the announcement this week of a major find in the region by British rival Cairn Energy, is the first sign that the Gulf of Mexico disaster may have permanently damaged BP's ability to operate — not just in US waters, but in other environmentally-sensitive parts of the world. Source: Times Mobile