|Bid||456.00 x 330000|
|Ask||470.00 x 350000|
|Day's Range||456.45 - 465.65|
|52 Week Range||4.80 - 536.20|
|PE Ratio (TTM)||27.13|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
British oil major BP will drill its first deepwater exploration well at a block it operates in the southern Gulf of Mexico during the third quarter of 2020, according to a plan approved Tuesday by Mexican oil regulator CNH. The four-year exploration plan for the block located in the Gulf's Salina Basin is also expected to lead to an investment of $199.5 million (£142.5 million) and add up to 75 million barrels of oil equivalent in reserves, according to the CNH. Norway's Statoil and France's Total are equity partners in the BP-led consortium, which won the development rights to the block in Mexico's first-ever deepwater oil auction in late 2016.
MOSCOW (Reuters) - Rosneft (ROSN.MM) doubled its fourth-quarter net income to 100 billion roubles ($1.74 billion) after it resolved a row with Sistema (AFKS.MM), the Russian energy company said on Monday. ...
BP pl.c. (NYSE:BP) is currently trading at a trailing P/E of 38.2x, which is higher than the industry average of 12.9x. Although some investors may jump to the conclusion thatRead More...
LONDON/MILAN, March 16 (Reuters) - Italian oil major Eni hiked its dividend on Friday and held out the prospect of a share buyback after promising higher growth in production and more cash. Eni was the first oil major to cut its dividend three years ago after a steep decline in the oil price forced the industry to tighten its belt.
In BP’s Technology Outlook 2018, the oil giant claimed that new technology could lower to production costs of oil by 30 percent
BP is seeking buyers for its stake in a 50-year-old oil and gas business in Egypt as it focuses on newer deepwater gas fields off the country's Mediterranean coast, banking sources said. The London-based company has in recent weeks pitched to potential buyers its stake in Gulf of Suez Oil Company (GUPCO), a joint venture with the Egyptian General Petroleum Corporation (EGPC) that was set up in the 1960s.
BP Plc has begun a process to sell mature oil fields in Egypt as it shifts investment in the country to natural gas, according to people with knowledge of the matter.
Spencer Dale, BP Plc's chief economist, discusses the outlook for oil demand and the energy industry. He spoke with Bloomberg's Alix Steel on March 1. (Source: Bloomberg)
Strong portfolio of upstream projects, positive free cash flow and positive earnings estimate revisions make BP a compelling buy apart from being undervalued.
Iraq, OPEC's second-largest producer of crude, is hitting a roadblock in the next phase of expanding its oil production capacity as the appetite of international energy firms for investing in the country's low-return environment slackens. Having slashed production targets in 2013 and 2014, most international oil firms in Iraq are revising their oilfields' plateau production levels even lower, and the discussions involved are moving slowly, Iraqi and company sources say. Growth has been the hallmark of Iraq's oil production in the past decade with a rise of over 2.5 million barrels per day to a peak of 4.71 million bpd in late 2016, Reuters assessments show.
Oil major BP Plc (BP.L) expects more than 90 percent of the world's shipping fleet will comply with new regulations slashing sulphur levels ships are allowed to burn starting 2020, a company executive said on Tuesday. Coming International Maritime Organization (IMO) rules will cut the amount of sulphur emissions that ships worldwide are allowed from 3.5 percent to 0.5 percent by 2020. "Potential non-compliance is a significant issue that the market has been contending with," Jason Breslaw, who leads BP's distillate trading origination across the Americas, said at an industry conference in New Orleans.
Oil majors are evaluating bids for offshore exploration rights in Argentina, a major change in a country that sent Spanish energy giant Repsol (REP.MC) packing six years ago and has seen little offshore exploration for decades. To secure bids, Argentina will need to show it has moved beyond its historical fluctuations between free-market policies and left-wing populism and that it has made progress in lowering costs for energy firms. Oil companies including Shell and Statoil told Reuters they are looking at bidding in the auctions, to be held later this year, and a government official said Exxon and Chevron have also shown interest.
Italian oil company Eni (ENI.MI) said on Sunday it would sell a 10 percent stake in the Shorouk concession in Egypt's Zohr gas field to Mubadala Petroleum of the United Arab Emirates for $934 million (£674.11 million). Eni currently holds through its subsidiary IEOC a 60 percent stake in the block, the biggest ever gas discovery in the Mediterranean, with 400 million standard cubic feet per day. Rosneft (ROSN.MM) holds a 30 percent share and BP (BP.L) 10 percent.
Fossil fuel companies that invest on the basis of current climate policies are putting more than $1 trillion at risk, because those targets are likely to be tightened in years to come, says think tank Carbon Tracker
United said starting March 7 it will begin offering both United MileagePlus members and BP Driver Rewards members the option of earning and using miles on fuel purchases at participating BP retail locations in the United States. The marriage was a natural fit, as BP's North American downstream headquarters are in Chicago, and United has its global headquarters in the Windy City. Meanwhile, BP's U.S. headquarters are in Houston, and United has one of its largest hubs at George Bush Intercontinental Airport.
BP started gas production from two other fields in its West Nile Delta development last year.The Taurus and Libra fields, commissioned eight months ahead of schedule and under budget, currently produce about 700 million standard cubic feet of gas a day for the Egyptian national grid. BP CEO Bob Dudley said last month that the company plans to invest over $1 billion (721.19 million pounds) in Egypt this year.Egypt has been seeking to speed up production from recently discovered fields, with an eye to halting imports by 2019 and achieving self-sufficiency.
Exxon Mobil Corp's $200 million (144 million pounds) write-down last month on abandoned ventures in Russia - once its next big frontier - points to challenges facing Chief Executive Darren Woods in his second year leading the world's largest publicly traded oil producer. Some of the biggest bets taken by his predecessor Rex Tillerson, now the U.S. secretary of state, have resulted in billions of dollars in write-downs amid falling production and a stock price that has long lagged peers. In 2018, the company plans capital spending of about $24 billion - up about a quarter since 2016 - suggesting return on capital will get worse before it gets better as the firm waits for a payoff from new exploration under Woods.
Britain's top share index recovered a little lost ground on Monday thanks to gains among mining companies and commodity stocks which had been among the worst hit after U.S. President Trump threatened higher tariffs on steel and aluminium imports. The FTSE 100 (.FTSE) was up 0.7 percent at 7,103.30 points by 1008 GMT, in line with a broadly positive European market. UK stocks also underperformed European peers with Germany's DAX (.GDAXI) ending the day up 1.5 percent and the STOXX 600 (.STOXX) up 1.1 percent.
Moody's Investors Service, ("Moody's") has today upgraded the Corporate Family Rating (CFR) of Aker BP ASA (Aker BP) to Ba1 from Ba2 and the Probability of Default Rating (PDR) to Ba1-PD from ...
OSLO (Reuters) - Norway's Statoil will drill three exploration wells on Britain's continental shelf (UKCS) this year, the company said on Friday. Plans include an appraisal well at the Verbier prospect ...
As a result of this decision, coal, oil, and natural gas producers could face federal common law nuisance claims all over the country. The size and scale of these suits could mirror the tobacco litigation that began in the 1990s.