|Bid||6.05 x 500000|
|Ask||6.30 x 500000|
|Day's Range||6.20 - 6.20|
|52 Week Range||5.45 - 6.75|
|Beta (3Y Monthly)||0.43|
|PE Ratio (TTM)||12.70|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The brother of Senegal's President Macky Sall has resigned from his government post after allegations of fraud relating to natural gas contracts, he said on Monday. An investigation by the British Broadcasting Corporation (BBC) this month alleged that a company run by Aliou Sall received a secret payment of $250,000 in 2014 from Frank Timis, a businessman whose company, Timis Corporation, that year secured licences to two major offshore gas blocks. The affair has dominated the airwaves in Senegal, overshadowing the beginning of President Sall's second term.
BP’s (BP) has the highest percentage of debt in its capital structure. In the first quarter, BP’s total debt-to-capital ratio stood at 43%, the highest among its peers. ExxonMobil (XOM) and Chevron (CVX) had lower ratios of 17% and 18%, respectively.
ExxonMobil (XOM) has the lowest percentage of debt in its capital structure compared to its peers. In the first quarter, ExxonMobil’s total debt-to-capital ratio stood at 17%.
Let's evaluate six global integrated energy companies based on their debt and cash flow positions. We'll start by ranking them on their total debt-to-total capital ratios in the first quarter of 2019.
BP PLC has urged the head of the U.S Environmental Protection Agency to keep working with automakers to improve vehicle fuel efficiency as the Trump administration considers freezing the requirements at 2020 levels, according to a copy of a letter seen by Reuters. BP, which has made investments in making cleaner fuels, told EPA Administrator Andrew Wheeler that it appreciates the need to balance efficiency with vehicle safety and affordability, the June 13 letter said, adding BP wanted to find a path that "effectively balances these issues and continues the impressive trajectory of efficiency improvements" already seen in engines.
The United Auto Workers (UAW) will tell Congress on Thursday the union opposes the Trump administration's proposal to freeze fuel efficiency requirements at 2020 levels through 2026, according to written testimony. The union represents workers at General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles NV.
After years of largely banking on low-cost Russia for growth, OMV is shifting attention towards the Middle East as its chemist chief executive chases his vision of making the Austrian oil and gas group a major supplier of plastics. OMV boss Rainer Seele has spent more than 4 billion euros ($4.5 billion) - 40% of the group's M&A budget until 2025 - for oil and gas concessions in the region, a 15% stake in Abu Dhabi National Oil Co's (ADNOC) refining business and a to-be-formed trading joint venture with ADNOC and Italy's Eni.
BP (BP) stock has fallen 0.7% in the past month since May 13. Total (TOT) and Suncor Energy (SU) stock have fallen by 0.8% and 2.9%, respectively.
The growing movement to end plastic pollution and ban single-use plastics poses a significant risk to the petroleum and petrochemical industries. The International Energy Agency estimates that the petrochemical industry will account for one third of global oil demand growth to 2030, about 3.2 million barrels per day. Last Monday, June 10, Canadian Prime Minister Justin Trudeau declared his intention to ban single-use plastics in Canada as early as 2021.
America consumed 2.5% more crude in 2018 than in 2017, and you might be surprised where that extra oil wound up.
Hedge funds and other investment firms run by legendary investors like Israel Englander, Jeffrey Talpins and Ray Dalio are entrusted to manage billions of dollars of accredited investors' money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to […]
Pope Francis said on Friday that carbon pricing, used by many governments to make energy consumers pay for the costs of burning fossil fuels, was "essential" to stem climate change. The comment, the Pope's clearest statement to date on the issue, was made in an address to leaders of the world's top energy companies at the end of a two-day meeting.
The BHP assets burn or vent just over 15% of the gas they produce, the second most in the Permian, according to Rystad Energy, an Oslo-based consultant. For BP to attain its self-stated goal of reducing flaring globally, the company may be forced to put some drilling on hold while it waits for more pipelines to be built, according to Artem Abramov, head of shale research at Rystad.
BP’s chief economist sees extreme weather as one of the reasons that global energy demand and emissions are growing at growing at a fast pace
(Bloomberg Opinion) -- Oil has a demand problem. You can see it, most obviously, in headline crude oil prices, which slumped again Wednesday morning. You can see it in Asian refining margins and physical premia. You can see it in Saudi Arabia’s efforts to maintain supply cuts, rapidly turning into an oily version of Dylan’s Never Ending Tour.You can also see it in some historical figures in BP Plc’s Statistical Review of World Energy, the annual data bible that dropped on Tuesday. Looking at numbers for 2018 and prior years might seem superfluous to judging what’s happening in 2019. Moreover, the headline growth figure for 2018 of 1.4 million barrels a day, or 1.5%, is pretty robust. Its fragility lies beneath.BP breaks out figures for almost 80 individual countries, but only three really counted last year:That just three countries can pull global demand along may seem comforting to oil bulls. But it’s a narrow group to rely on, especially when two members are engaged in a trade war. Manufacturing indicators have weakened for all three in recent months, and vehicle sales have been particularly bad in India and China. Meanwhile, the U.S., which reports the most timely and transparent data on oil flows, reported another increase in inventories Wednesday – and that follows an extraordinary build-up in stocks of crude and refined products in May.In light of all that, it should worry oil bulls that demand growth across the rest of the world altogether vanished in 2018 – especially as global economic growth is forecast to be slower this year, partly because of that trade war, and the tailwind of exceptionally low fuel prices that prevailed in 2016 and much of 2017 is behind us.The other important aspect revealed in the Statistical Review concerns the types of oil being consumed. BP highlighted the increased importance of lighter liquids such as naphtha and ethane related to petrochemicals in the overall mix. You can see this in the chart below, where “other light distillates” and “other” liquids accounted for 54% of net growth in demand last year. Notice, too, what happened to gasoline and diesel.Naphtha prices have weakened considerably in Asia, along with gasoline. This is partly a function of Chinese refiners staying busy and taking advantage of looser export controls to dump excess products elsewhere in the region (something energy economist Philip Verleger has highlighted in several recent reports centered on the collapse in Singapore refining margins). Naphtha competes with natural gas liquids, and supply of the latter has also surged, largely as a by-product of the shale boom. The U.S., accounting for almost 40% of production, is the OPEC of natural gas liquids – apart from the crucial distinction that it shows no inclination to cut supply despite prices having slumped to their lowest level in more than two years:The thing about excess supply, though, is that it also suggests deficient demand. Coming amid weaker economic data, reliance on petrochemical demand represents a big risk for oil markets this year. It’s worth looking again at the BP data, which show that output from refineries actually increased by less than a million barrels a day in 2018, which also reflects the rising share of lighter liquids. Crude oil demand is ultimately a function of what refiners want to buy and process – they’re the direct customers, not you and me.As I wrote here, after a relatively weak first half, oil bulls’ hopes for 2019 rest largely on the usual seasonal upswing in refining runs in the third quarter. Yet the economic, inventory, and ultimately pricing indicators put that at risk. The International Energy Agency has been slow to cut demand forecasts, finally trimming them last month by a mere 90,000 barrels a day to 1.3 million a day. The IEA will update those later this week, and it will be surprising indeed if another cut isn’t forthcoming. After all, we now know the warning signs have been there since at least last year.To contact the author of this story: Liam Denning at firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Prime Minister Theresa May said legislation to wipe out the U.K.’s net contribution to rising global temperatures will be put to members of Parliament, endorsing a report from advisers that laid out what a carbon neutral future would have to look like. The radical move recommended by the government’s climate-change adviser has won backing from across the political spectrum even as debate about leaving the European Union roiled U.K. lawmakers. Urgency is building around efforts to contain an increase in global temperatures.
Which Integrated Energy Companies' Earnings Could Jump in 2019?(Continued from Prior Part)BP’s earnings estimateBP (BP) is a British integrated energy company with downstream, upstream, and Rosneft segments. BP’s earnings are expected to fall 8%
Let's rank integrated energy stocks based on their estimated earnings growth. We'll also assess their valuations and dividend yields.
The United States saw its crude oil and liquids demand jump in 2018 at its fastest pace in over a decade on the back of growing petrochemical plant capacity that uses increased volumes of ethane from shale, according to BP
Extreme temperatures around the globe drove a sharp acceleration in energy demand and carbon emissions last year, oil giant BP said on Tuesday, issuing a stark warning that the world risks losing the battle against climate change. The 2.9% rise in energy demand in 2018, the fastest rate since 2010, deals a blow to global efforts to meet the 2015 U.N.-backed Paris climate agreement to limit global warming by sharply reducing carbon emissions by the end of the century.
BP has raised estimates for Saudi Arabia's crude oil reserves by 12%, marking the first major change to the country's estimated reserves since 1989. In its benchmark 2019 Statistical Review of World Energy, BP recalibrated some Saudi gas reserves as oil, allowing Riyadh to close in on Venezuela's top spot as the world's largest reserves holder. BP said Saudi Arabia's proved oil reserves were revised to 297.7 billion barrels at the end of 2018 from 266.2 billion a year earlier, only slightly behind 303 billion in Venezuela.