|Bid||489.00 x 0|
|Ask||495.00 x 0|
|Day's Range||488.55 - 496.05|
|52 Week Range||5.08 - 603.20|
|Beta (3Y Monthly)||1.36|
|PE Ratio (TTM)||11.19|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||0.34 (6.90%)|
|1y Target Est||7.99|
Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. Since the third quarter of last year, bids, offers and trades reported to pricing agency S&P Global Platts as part of its pricing process have become "significantly more homogenous with regards to the terms used," said Ciaran Roe, global director of the company's LNG division.
Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. A BP spokeswoman did not reply to a Reuters query on the matter, but the company said in a press release earlier this year that it wants to promote efficiency in the rapidly growing LNG industry by disclosing its standard LNG trading terms. BP already has a standardised template - known as its general terms and conditions (GT&Cs) - for the sale and purchase of crude oil and refined oil products that is widely used by other companies as well.
Iraq's oil ministry said on Saturday it was still in talks with U.S. energy giant ExxonMobil over a major deal to improve the country's southern oil infrastructure. An agreement with Britain's BP and Italy's Eni was not part of the $53 billion, 30-year mega-project. It covered the building of two seabed oil pipelines for exports through the Gulf, the ministry said.
Royal Dutch Shell (RDS.A) stock has slumped 10.8% so far in Q3. Shell’s dividend yield has risen to 6.6%, the highest among its peers.
(Bloomberg) -- Indonesia’s PT AKR Corporindo is aiming to expand its gasoline station joint venture with BP Plc to as many as 350 outlets by 2027 to take advantage of a flurry of toll-road building across the archipelago.PT Aneka Petroindo Raya, set up by the two companies in late 2016, opened its first station last November and currently has nine outlets. The plan is to add as many as 20 to 25 stations before the end of this year and an additional 35 in 2020, said Suresh Vembu, AKR Corporindo’s business development and JV relationship director. The government’s $70 billion highway-building program will encourage Indonesians to make more long-distance car trips, he said.“You’re adding so many new cars, you’re adding more highways, people are driving,” Vembu said an interview in Jakarta on Tuesday. “Basically, the demand for gasoline in Indonesia is one of the fastest growing in the region.”President Joko Widodo, known as Jokowi, has announced plans to triple the length of Indonesia’s toll-road network to 5,400 kilometers (3,355 miles) by 2024, although there are questions about how the program will be funded. BP and AKR Corporindo are planning their expansion even as Indonesia considers a slew of incentives aimed at boosting the numbers of electric vehicles.BP expects to grow the gasoline station network together with its partner over the coming years, a spokesman for the London-based company said.The two companies are also setting up another joint venture to provide aircraft fuel, Vembu said. That business, called PT Dirgantara Petroindo Raya, will focus on serving the eastern part of the archipelago, he said.See also: BP, Reliance to Expand Partnership to Sell Transport Fuels in IndiaBP’s Indonesian initiatives are similar to what it’s doing in India, where it’s formed a joint venture with Reliance Industries Ltd. that will take over 1,400 Reliance-owned gasoline stations as well as aviation fuel operations at more than 30 airports. Meanwhile, in China, BP is focusing more on electric vehicles via a venture with Didi Chuxing Inc. to build charging infrastructure.AKR’s shares fell 1.9% as of 10:11 a.m. in Jakarta on Thursday as the Jakarta Composite Index rose 0.5%. They’re down 8.6% since Aug. 2, heading for the worst week since March, after the company reported a drop in first-half net income late last month.The Indonesian company is also focused on expanding its industrial estate business, according to Vembu. Several foreign firms have expressed interest in relocating some operations to its Java Integrated Industrial and Port Estate in Gresik, East Java, due to the deepening U.S.-China trade war, he said.PT Freeport Indonesia, a unit of PT Indonesia Asahan Aluminium and Freeport-McMoRan Inc., will develop a smelter in the business park. Industrial estates could easily make up 15% to 20% of AKR’s net income in the next three to four years, Vembu said.“We want to make the industrial estate as our recurring income source,” he said. “Roads have been laid, ports have been constructed and the power plants are already ready.” (Updates with AKR Corporindo share move in eighth paragraph.)\--With assistance from Rakteem Katakey.To contact the reporters on this story: Tassia Sipahutar in Jakarta at firstname.lastname@example.org;Harry Suhartono in Jakarta at email@example.comTo contact the editors responsible for this story: Ramsey Al-Rikabi at firstname.lastname@example.org, Andrew Janes, Thomas Kutty AbrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Oil and gas production has grown steadily this year for Denver-based companies drilling in Texas and Oklahoma, but revenue hasn’t kept pace due to the price of oil and natural gas. Bigger profits from the oil growth have been harder to achieve.
BP and Mukesh Ambani’s Reliance Industries are to jointly form a petrol station network and aviation fuels business in India, as the UK oil and gas major seeks to expand its reach in one of the world’s fastest-growing energy markets. , are trying to secure a foothold in India as they bank on the country’s swelling middle classes to propel energy demand in the coming decades. BP and Reliance will build on an offshore gas exploration and production partnership that began in 2011 with the new joint venture, which will be 49 per cent owned by BP and 51 per cent by Reliance.
BP p.l.c. (LON:BP.) is about to trade ex-dividend in the next 3 days. This means that investors who purchase shares on...
(Bloomberg) -- Russia’s contaminated oil crisis isn’t over yet -- at least not for the traders trying to find a home for the cargoes they unwittingly bought.BP Plc, the London-based oil giant, failed to find a purchaser for more than 700,000 barrels of Urals crude that got loaded onto a tanker almost three months ago at a port in the Baltic Sea, people with knowledge of a sales tender said Friday, asking not to be identified because the matter is private. The cargo has excessive levels of organic chlorides that could damage a refinery if not removed.In late April, it emerged that Russia was inadvertently sending millions of barrels laced with the contaminant through its Druzhba pipeline system to refineries across Europe, a situation that eventually caused flows to be halted. Some barrels also got sent to the port of Ust-Luga in the Baltic, where BP and other companies loaded them onto tankers.Russia’s pipeline operator Transneft said last month that it would pay $15 a barrel in compensation to Belarus for supplies sent by pipeline. Its eastern neighbor said recompense should not be dictated.It’s unclear what traders have been told about compensation. There was insufficient interest in the cargo for BP to be able to sell it, the people said. The shipment has an organic chloride content of about 29 parts per million. It needs to be less than 10. A spokesman for BP declined to comment.There are still about 5 million barrels of the tainted oil on tankers in northwest Europe, Singapore and other locations, according to traders and tanker tracking data compiled by Bloomberg. That represents about 40% of the roughly 12 million barrels that were on ships at one stage during the height of the contamination crisis.To contact the reporter on this story: Sherry Su in London at email@example.comTo contact the editors responsible for this story: Alaric Nightingale at firstname.lastname@example.org, Rachel GrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Canadian pipeline company Enbridge Inc said on Friday it would invite bids for contracted space on its Mainline system, in the face of opposition from some oil shippers who worry the changes could disadvantage small producers. Currently, shippers nominate barrels on a monthly basis, but Enbridge is proposing to switch to a system in which shippers sign up for long-term fixed volume contracts for up to 20 years.
HOUSTON, Aug. 1, 2019 /PRNewswire/ -- Ondiflo, a blockchain platform for the oil and gas industry, today announced the successful completion of its Proof of Value (PoV) project of fluid hauling in East Texas in collaboration with BPX Energy, the U.S. onshore oil and gas unit for global energy company BP, and a selection of the operator's suppliers. Throughout the pilot, during which Ondiflo's blockchain-based solution was deployed with three water hauling companies (C&J, Common and Select Energy Services), BPX Energy and its suppliers were able to identify substantial operational and financial benefits, including cost reduction by improved efficiency, reduced procure-to-pay time cycles and improved asset utilization. Ondiflo's blockchain-based application for fluid hauling provides an automation platform for the optimization of field tracking activities, where tank-level data received from sensors, service orders, field tickets and invoices as well as regulatory documentation are transacted via smart contracts and key-data captured in the blockchain.
BP said on Thursday it would build a network of electric-vehicle charging hubs in China with China’s Didi Chuxing as the British firm bets on the world’s largest market for such cars to help profits during the transition from oil to cleaner fuels. Retail services, such as convenience stores at petrol stations, have become a big revenue generator for oil majors such as BP and Royal Dutch Shell with profits often offsetting weakness in oil and gas production. Didi, China's biggest ride-hailing company, runs a mobile transportation platform, offering users app-based options including car-sharing.
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...