Bp Share Discussion Threads

[fhmktg] 12/2/2018 13:32

Two positive announcements in one day...I could get to like this!

[grupo guitarlumber] 12/2/2018 10:29

BP PLC (BP.LN) said on Monday that an agreement between Mauritania and Senegal, signed on Feb. 10, will enable the development of the Tortue/Ahmeyim gas field, where BP has a majority interest.

The field, which holds an estimated 15 trillion cubic feet of gas, sits offshore on the border between the two African nations.

BP said that the Inter-Government Cooperation Agreement signed by the countries will see a fifty-fifty split of resources and revenues, as well as a mechanism for future equity redeterminations based on actual production and other technical data.

Bernard Looney, BP's upstream Chief Executive, said the agreement was an important milestone for the project.



Write to Oliver Griffin at [e-mail]



(END) Dow Jones Newswires

February 12, 2018 04:27 ET (09:27 GMT)

[ianood] 11/2/2018 22:53

Should you so require, you are aware of the "Skip Header" button?

[neilyb675] 11/2/2018 20:06

Thanks sicker what a useless post 👍

[sicker] 11/2/2018 15:12

Seldom look at headers so have no opinion :-(

[neilyb675] 11/2/2018 07:37

Anyone else think there are too many charts in the header here ?

[tradejunkie2] 10/2/2018 17:35

Back to 400p ladies.

I'm the only man here.

[cliveb] 09/2/2018 17:54

The only optimistic thing we can say about the above chart, is that there are a lot of gaps to fill, and all of them are in a better place than we are now

[bracke] 09/2/2018 15:56

Good day Penycae

Indeed they are. I think of them as optomistic's 'bete noir'.

[gregpeck7] 09/2/2018 14:51

Cannot even buy a single share over at Jkx.. these Ukraine and Russian oilers are bagging like mad this year, Uen x 1, Rpt x 3, Jkx x 0.5.....

[ariane] 09/2/2018 14:34

9/02/2018 | 12:55

Paris (awp / afp) - The big oil and gas companies made billions of profits last year thanks to the rise in prices, but they remain cautious and do not want to spend sparingly.

The season of annual results confirmed the good health found in the sector. Total announced this week an annual net profit up 39% to $ 8.6 billion. Its competitors BP, Chevron, ExxonMobil or Royal Dutch Shell have also accumulated profits.

"2017 was one of the best years in BP's recent history," said Bob Dudley, general manager of the British group.

All benefited from the recovery in oil prices, supported by the efforts of the Organization of the Petroleum Exporting Countries (OPEC) and its partners, including Russia, which limited their production to reduce supply in the market.

Last year, oil prices were $ 54 per barrel on average, up from $ 44 in 2016. Brent North Sea crude is now trading at $ 70 a barrel.

The majors took the opportunity to spoil their shareholders, impatient after several years of lean cows, in the form of higher dividends and / or share buyback programs.

But this is not the return of the good years. Following the fall of the courts three and a half years ago, the majors had cut their costs and reduced their investments. After adjusting to be profitable with lower prices, they do not intend to release the bridle.

Shell boss Ben van Beurden summed up his mood last year, saying he was now working as if oil prices were to remain "lower forever".

"HESITATIONS AND UNCERTAINTIES"

"We maintain all these savings programs despite the rise in crude prices," confirmed this week the CEO of Total, Patrick Pouyanné.

Sign of prudence, the improvement of the economic situation is only reflected by a timid recovery of investments in exploration-production.

They had slightly rebounded 4% to 389 billion dollars worldwide last year and should still modestly increase by 2 to 6% this year, said IFP Energies nouvelles, in forecasts unveiled this week. A level that remains far from the $ 683 billion in 2014.

This increase, which is very uneven across regions, is also largely driven by North America and the independent companies that produce unconventional hydrocarbons. The majors, for their part, have seen their expenses fall by 16%.

"The leaders of the big oil companies have certainly breathed a sigh of relief because the rise in prices has yielded significant results," said David Elmes, energy specialist at Warwick Business School.

"But there are also hesitations and long-term uncertainties that limit any return to full-speed development," he says.

Companies remain cautious because the course of prices remains more uncertain than ever. Demand is expected to remain strong, particularly in China and India, but the rebalancing of the market is threatened by a possible opportunistic influx of American shale oil.

"I'm sure that the American independent companies will again invest a lot to benefit from a $ 60 barrel and produce more shale oil, so we will have volatility in the market," predicts Patrick Pouyanné.

[ny boy] 08/2/2018 15:09

All good here, bought the pull back, ex divi 15 Feb, back above 500p this quarter imho

Great global blue chip stock with solid experienced management

[the grumpy old men] 08/2/2018 12:10

BP has shown best improvement among oil majors - analyst
16:00 07 Feb 2018
Following Tuesday’s result, Citi has raised its cash flow forecast, but, reduced its view of earnings per share
oil and gas operations
BP boasted of “strong delivery and growth” in the fourth quarter of 2017

BP Plc's (LON:BP.) financial results showed that the oil super major is doing better than its peers, that’s the view of Citigroup.

That said, the investment bank has a ‘neutral’; rating for BP with a 510p target price. Following Tuesday’s result, Citi has raised its cash flow forecast, but, reduced its view of earnings per share.

Analyst Alastair Syme, in a note, said: “The key focus of BP FY17 results is that lower Macondo expenses and better business performance has helped generate the strongest YoY improvement in operating cash flow of the global Integrated group.”

Syme noted that BP’s cash returns still have some catching up to do, nonetheless, it is expected to back up with the pack by 2020.

“Soft signals of a rise in dividend in 2018 come as some comfort after what has been 14 quarters unchanged

“The debate, if there is one on BP, is as the business improves to a point of generating post dividend free cash flow, does that money go back to shareholders?”
Strong delivery and growth

BP boasted of “strong delivery and growth” in the fourth quarter of 2017, highlighted by improved upstream production and underlying profit, meanwhile, a further US$1.7bn charge associated with the Gulf of Mexico meant the group reported only a small profit.

There was a total of US$3.32bn of negative non-operating items, leaving the profit attributable to shareholders at US$27mln compared to the US$1.7bn in the preceding three month period.

Underlying profit was reported at US$2.1bn, up from US$1.86bn in the preceding period and from US$400mln in the comparative period of 2016. For the full twelve months, BP made a US$6.1bn underlying profit up from US$2.58bn in the year before.

Operating cashflow amounted to $6.2bn and $24.1bn for the fourth quarter and the full year respectively.

BP said upstream production increased 12% helped by the delivery of seven new projects. Output tallied 3.6mln barrels oil equivalent per day, including contributions for the company’s stake in Rosneft. It marked the best year for production since 2010. It discovered some 1bn barrels worth of new discoveries as the exploration division saw successes.
One of the strongest years in BP's recent history

"2017 was one of the strongest years in BP's recent history,” said chief executive Bob Dudley.

“We delivered operationally and financially, with very strong earnings in the Downstream, Upstream production up 12%, and our finances rebalanced. And we did all this while maintaining safe and reliable operations.

"We enter the second year of our five-year plan with real momentum, increasingly confident that we can continue to deliver growth across our business, improving cash flows and returns for shareholders out to 2021 and beyond.”

The oil major maintained its quarterly dividend, at 10 cents per share, and confirmed that it spent US$343mln on share buybacks which it said offset all the dilution created by the third quarter’s scrip dividends.

[bracke] 07/2/2018 13:30

Good day optomistic

I thought I would post a slightly more optimistic chart than yesterdays.

You will see that it has reached what was a previous support level, the danger is that it will now act as a resistance level (horizontal brown line). It has to break and hold above that so that once more it becomes support and perhaps a springboard to riches or at least a few quid.

BP DAILY

[maywillow] 07/2/2018 13:07

BP set to 'embrace low-carbon world' with $500m investment

7 February 2018, source edie newsroom

BP has pledged to invest $500m into low-carbon solutions after posting a strong financial performance in 2017.
Last week BP announced it will add rapid charging points for electric cars at its UK petrol stations within the next two months

Last week BP announced it will add rapid charging points for electric cars at its UK petrol stations within the next two months

On Tuesday (6 February), the oil giant revealed that higher oil prices and growing crude production had pushed up full year underlying profits to $6.2bn, which group chief executive Bob Dudley described as “one of the strongest years in BP’s recent history”.

Dudley said that BP will seek to build on this momentum by “embracingR30; opportunities in a changing, lower-carbon world”. Around $500m of BP’s $15bn-$16bn capital expenditure programme will be invested in clean energy, according to the company’s strategy update.

But Dudley made it clear that hydrocarbons would remain at the heart of BP’s core business.

"It’s not a race to renewables, it’s a race to lower greenhouse gas emissions,” he said. “As fast as renewables and clean energy can grow, faster than any fuel in history, the world is going to require oil and gas for some decades to come.”

Low-carbon race

Deputy chief executive officer Lamar McKay said the oil producer sees “significant commercial potential” in solar and is becoming more active in trading credits. Carbon targets, including one for methane, will be announced by BP in the next two months.

The UK-based firm recently returned to solar power with the $200m investment in solar developer Lightsource, and last week announced it will add rapid charging points for electric cars at its UK petrol stations within the next two months.

The shift followed a bigger move by BP’s Anglo-Dutch rival Shell, which has been on a buying spree of electric car infrastructure companies and has already opened charging points at its service stations.

BP’s latest investment plan is less ambitious than Shell, which has pledged to spend as much as $2bn on its new energies business. Shell has also announced plans to acquire a 43% stake in Silicon Ranch solar developers.

At a global level, Shell has doubled its spending on clean power and bowed to shareholder pressure by promising to halve the carbon footprint of the energy it sells by 2050.

George Ogleby

[maywillow] 07/2/2018 10:28

BP Takes Tax Hit But Shows Strength -- WSJ
07/02/2018 8:02am
Dow Jones News

BP (LSE:BP.)
Intraday Stock Chart

Today : Wednesday 7 February 2018
Click Here for more BP Charts.

By Sarah Kent

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (February 7, 2018).

LONDON -- BP PLC took a big fourth-quarter hit from costs tied to the U.S. tax overhaul and the Gulf of Mexico oil spill, but otherwise performed well as it works to re-establish itself among Big Oil's elite.

BP's underlying profit, which excludes one-time costs, soared to $2.1 billion in the quarter, compared with $400 million a year earlier. The British oil-and-gas company was buoyed by a recovering crude market during a quarter when oil prices averaged more than $61 a barrel -- up 24% from 2016's final period.

On paper, though, BP's earnings were effectively wiped out by a nearly $1 billion loss related to U.S. corporate-tax changes and a $1.7 billion charge from unexpectedly high settlements from the Deepwater Horizon accident in 2010. For the quarter, the company recorded a $583 million replacement-cost loss -- a measure analogous to the net income that U.S. oil companies report.

BP said on Tuesday that the U.S. tax overhaul enacted late in 2017 will be positive in the long term. The company says its Gulf of Mexico costs are manageable and are largely wrapping up.

Despite the quarterly net loss, BP executives hailed the company's financial standing. For all of 2017, BP had a replacement-cost profit of $2.8 billion, compared with a loss of $1 billion in 2016. It was BP's first annual profit since 2014. The company reported stronger production and healthy earnings from its refining-and-marketing division.

The company's return to profit last year reflects early success in delivering on its growth plan. Excluding BP's nearly 20% share in Russian state-oil company PAO Rosneft, annual production rose 12%, and in a sign of growing financial resilience, the company began a share buyback program in the fourth quarter.

Chief Executive Bob Dudley described 2017 as "one of the strongest years in BP's recent history," adding that the company is increasingly confident it can continue to grow.

BP finance chief Brian Gilvary said the company should be able to cover its spending and dividend with cash from operations at $50 a barrel this year. The company is targeting a break-even price of $35 to $40 a barrel by 2021.

"This time last year we were talking about $60 a barrel, so we have a pretty good trajectory," Mr. Gilvary said.

The company's net debt rose 6% from a year earlier to $37.8 billion, although it was on a downward trajectory in the fourth quarter compared with the previous three months.

BP's earnings are the latest in a choppy reporting season for big oil companies. Shell's net profit tripled last year, but a drop in cash flow in the fourth quarter raised concerns among investors. U.S. rivals Exxon Mobil Corp. and Chevron Corp. both missed earnings expectations and their shares suffered substantial selloffs as a result.

BP used its earnings announcement to advance a campaign to convince shareholders it can regain its position among the elite tier of big energy companies. The company has lagged behind its peers since the fatal Deepwater Horizon explosion and oil spill in the Gulf of Mexico eight years ago. The disaster forced the company to sell off billions of dollars in assets to help finance cleanup and legal costs that have ballooned to more than $60 billion.

BP outlined a path last February to boost profit and return to its former size by the early 2020s, but analysts raised concerns about the company's longer-term growth outlook. BP on Tuesday outlined efforts to boost production and returns out to 2025 and said it would add 900,000 barrels a day of new oil and gas production by 2021 compared with 2015. The company had previously said it would pump an additional 800,000 barrels a day by 2020.

"We see growth without the need for acquisitions," said Bernard Looney, the company's chief of exploration and production.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

February 07, 2018 02:47 ET (07:47 GMT)

[alphorn] 07/2/2018 09:58

ianood - I actually agree with you. ;)