|Bid||551.90 x 330000|
|Ask||551.90 x 350000|
|Day's Range||551.00 - 568.30|
|52 Week Range||4.80 - 593.30|
|PE Ratio (TTM)||32.29|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
BP Plc made its first foray into Israel this week with a $20 million investment in quick-charging battery firm StoreDot Ltd., and is on the hunt for more opportunities there, a senior executive at the energy giant’s venture-capital arm said. With global energy demand surging, the StoreDot move is part of BP’s push into cleaner sources, even as it continues developing its traditional oil and gas businesses, David Gilmour, vice president of BP Ventures Llc, said Wednesday. “We need to understand how we can move into alternatives to hydrocarbons where they exist,” Gilmour said on the sidelines of the Ecomotion smart-mobility summit in Tel Aviv.
BP's plan to acquire StoreDot's lithium ion-based battery technology emphasizes the company's commitment toward a lower carbon future.
Corp. plans to reduce methane emissions 15% by 2020, the latest in a series of pledges by major oil companies to voluntarily curtail releases of the potent greenhouse gas. The Texas-based company also said it intends to cut flaring, or burning of natural gas, by 25% over the same period. Exxon’s move Wednesday, a week before its annual meeting May 30, comes as pressure from investors mounts on big oil companies to not only disclose climate-related business risks, but also take action to reduce emissions linked to global warming.
By Danilo Masoni and Helen Reid MILAN/LONDON (Reuters) - European shares pulled back on Wednesday as U.S.-China trade talks stalled and a drop in crude prices slammed the brakes on a stellar run in energy ...
The UK's top share index was knocked down of its highs on Wednesday and sustained its biggest loss in two months as oil majors and commodity-related stocks fell but well-received results made Marks & Spencer a bright spot. The blue chip FTSE 100 index closed down 1.17 percent at 7,785.08 points. Energy stocks took around 37 points off the index as shares in Royal Dutch Shell fell 3.3 percent and BP declined 1.9 percent.
The UK Oil and Gas Authority (OGA) on Wednesday awarded 123 licences to 61 companies to explore for and develop new fields in the North Sea, in the latest sign of confidence in the ageing basin that has enjoyed a revival in recent years. The round could unlock about a dozen undeveloped discoveries containing an estimated 320 million barrels of oil equivalent (boe), it added. The North Sea was one of the world’s first offshore basins, and has produced oil for more than four decades.
The sale of private equity firm Arclight's North Sea Midstream Partners (NSMP), an oil and gas pipeline firm, could be hit by renewed U.S. sanctions on Iran, financial sources said, as one of its major clients is part-owned by the Iranian Oil Company. Companies, including many in the energy sector, are determining how their businesses will be affected after U.S. President Donald Trump pulled out of an international nuclear deal with Iran on May 8 and ordered that sanctions be reimposed. Bank of America Merrill Lynch (BAC.N) is advising on the sale of NSMP and teasers introducing the asset went out in recent weeks, three sources said.
The following are the top stories on the business pages of British newspapers. Marks & Spencer said it had earmarked 14 stores for closure, in addition to 21 that have already shut. The Serious Fraud Office said that it had charged Basil Al Jarah and Ziad Akle with conspiracy to pay alleged bribes to secure a 555 million pound ($745 million) contract that was linked with a scheme to build two oil pipelines in Iraq.
A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator said. The U.N. Security Council ramped up sanctions last year after North Korea said it had conducted missile tests that put the U.S. mainland in range of its nuclear weapons.
A BP spokesman said the cuts of around 540 jobs from the company's 18,000-strong total upstream workforce will be carried out by the end of the year. The 110-year old company is undergoing its fastest growth in recent history with new oil and gas fields from Egypt and Oman to the U.S. Gulf of Mexico, riding a tide of higher oil prices following the 2014 downturn.
A BP spokesman said the cuts of around 540 jobs from the company's 18,000-strong total upstream workforce will be carried out by the end of the year. BP held out the prospect of a first dividend increase since 2014, after first-quarter profits beat forecasts earlier this month, thanks to rising oil and gas prices and production. The 110-year old company is undergoing its fastest growth in recent history with new oil and gas fields from Egypt and Oman to the U.S. Gulf of Mexico, riding a tide of higher oil prices following the 2014 downturn.
BP said on Tuesday that it will cut its global upstream workforce by approximately 3%, resulting in around 540 job losses, as it aims to improve the business’s efficiency and competitiveness.
BP's confirmation to buy 2 million metric tons per year of LNG for 20 years takes the total purchase commitment to 6 million tons at the Calcasieu Pass facility.
BP said its venture capital arm was investing in Tel Aviv-based StoreDot as it looks to reduce greenhouse gas emissions in its operations.
Oil major BP said on Tuesday its venture capital fund invested $20 million in Israeli firm StoreDot, which developed a battery system that could potentially charge an electric car in the amount of time it takes to fill a gas tank. The investment, BP Ventures said, is part of a push to tap into the growth in electric vehicle technologies and infrastructure. "Ultra-fast charging is at the heart of BP’s electrification strategy," said Tufan Erginbilgic, chief executive at BP downstream.
BP Plc agreed to invest $20 million in a developer of ultra-fast charging for batteries, a technology the oil major believes is key for accelerating the adoption of electric vehicles. The lithium ion technology developed by StoreDot has the potential to recharge a car battery as quickly as refilling a gas tank, according to a joint statement released on Tuesday. London-based BP’s collaboration with StoreDot is just the latest example of major oil producers backing technology that could help drive the mass adoption of electric vehicles.
, the Aim-listed oil and gas company, said on Tuesday it remains “fully committed” to completing the purchase of BP’s stake in the Rhum field in the North Sea despite the decision by the US to pull out of the Iran nuclear deal and re-impose wider sanctions on the country. A UK subsidiary of the Iranian National Oil Company owns a 50 per cent stake in the Rhum field. Certain services to support operations on the field are currently provided under authorisations obtained from the US sanctions enforcement arm, the Office of Foreign Assets Control (Ofac).
The company said that certain services in support of the Rhum field were provided under a licence for BP from the US Office of Foreign Assets Control ("OFAC") which expires on Sept. 30. It said BP and Serica had applied for a renewed licence beyond that date and would meet with OFAC in the next few weeks.
BP is to cut 3 per cent of its workers in exploration and production in a sign of oil companies continuing to lower costs even as crude prices rise. BP said the cuts were part of a restructuring of its upstream operations to make the division more efficient and flexible. Brent crude, the international benchmark, has climbed above $80 per barrel in recent days for the first time since the market crashed in 2014, fuelling resurgence in cash flow across the industry.
After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change. Chief Executive Officer Bob Dudley raised the topic of class-action lawsuits twice during the company’s annual general meeting in Manchester, England on Monday, saying he wouldn’t disclose certain climate targets, or even answer some questions from activist investors, because the risk of legal action in the U.S. was too high. “You want to get us to make statements here in front of you that you can document that will lead to a class action,” Dudley said in response to one question from the Union of Concerned Scientists about pending U.S. litigation against energy companies.
After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change. Chief Executive Officer Bob Dudley raised the topic of class-action lawsuits twice during the company’s annual general meeting in Manchester, England on Monday, saying he wouldn’t disclose certain climate targets, or even answer some questions from activist investors, because the risk of legal action in the U.S. was too high. The sharp exchange between BP and two advocacy groups -- Amnesty International and the Union for Concerned Scientists -- shows the growing pressure on major oil companies to acknowledge their responsibility for emissions of greenhouse gases.
Brent crude oil declined on Monday, surrendering early gains, though the prospect of an easing in trade tensions between the United States and China helped to stem losses. Brent crude futures eased by 12 cents to $78.39 a barrel by 1352 GMT, having reached a session high of $79.19. U.S. crude futures were up 30 cents at $71.55.
After the near collapse of his company following the 2010 Gulf of Mexico disaster and a three-year slump in oil prices, BP Chief Executive Officer Bob Dudley is hardly relaxed. "It doesn't feel like we are in a serene time for any energy company," Dudley told Reuters in an interview. With oil prices at their highest since late 2014 and BP shares back to levels not seen in more than 8 years, it is once again in a position to contemplate boosting dividends and acquiring, Dudley said.