Shell starts drilling in Chukchi Sea
BP's September term price for Alaska North Slope crude oil is $29.37 a barrel, up 6.3 percent from the August term price of $27.63 a barrel, but still down from the year-to-date high term price of $29.58 a barrel set in July.
The year-to-date average term price is $27.08 a barrel, up 88.2 percent from the comparable 1999 year-to-date average of $14.39 a barrel.
The July price was the highest BP's term price has been since November 1990 when it stood at $31.52 a barrel.
BP is the only North Slope producer to post a term price.
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