Bp Share Discussion Threads

[veryniceperson] 07/8/2018 14:35

Nice rise today guys. Making in up for the down days. 625 by Christmas doing very well (pardon the pun).

[waldron] 06/8/2018 17:36

Total
54.95 +0.31%


Engie
13.405 -0.33%

Orange
14.585 -0.21%

FTSE 100
7,663.78 +0.06%
Dow Jones
25,482.61 +0.08%
CAC 40
5,477.18 -0.03%


Brent Crude Oil NYMEX 74.08 +1.08%
Gasoline NYMEX 2.07 +0.26%
Natural Gas NYMEX 2.85 +0.11%



BP
566.8 +1.12%


Shell A
2,561 +0.65%


Shell B
2,602.5 +0.17%

[largeronald] 06/8/2018 16:11

Are these the lawyers who paid the porn star off?

[buywell3] 06/8/2018 12:35

........... Trump told May to sue the EU ...............


It will soon become apparent that article 50 will make the UK electorate see that Trump gave May wise council

However as May would not have been employed as Mrs T's tea lady , let alone No 10 sweeper up , she has not the nous to understand that what Trump was passing on was expert legal advice from some of the top USA lawyers , experts at what America does best

Sue the @rse of anything they can.

In the case of the EU, they deserve to be taken to the cleaners , where May works weekends I believe.

[waldron] 06/8/2018 07:55

Cheers alp

apparently saracens reckons the oil majors overvaluing their oil reserves

COULD NOT GET FULL ARTICLE

enjoy your day and week

[alphorn] 05/8/2018 20:51

Intriguing header in the FT:

"Call for big oil groups to reveal crude-peak risk. Asset manager warns of long-term threat to viability of the industry".

[waldron] 03/8/2018 17:23

Total
54.78 -0.31%

Engie
13.45 +0.07%

Orange
14.615 +0.90%


FTSE 100
7,659.1 +1.10%
Dow Jones
25,405.01 +0.31%
CAC 40
5,478.98 +0.33%


Brent Crude Oil NYMEX 72.95 -0.60%
Gasoline NYMEX 2.07 +0.28%
Natural Gas NYMEX 2.86 +1.38%



BP
560.5 +0.77%

Shell A
2,544.5 +0.51%

Shell B
2,598 +0.52%

[optomistic] 02/8/2018 18:52

I know that cliveb, these drops make it look as though they are having more x/d days than the official one ;-)))

[cliveb] 02/8/2018 18:34

No Opto, X/D on the 9th

[waldron] 02/8/2018 17:09

Total
54.95 -0.96%

Engie
13.44 -0.74%

Orange
14.485 -0.69%


FTSE 100
7,575.93 -1.01%
Dow Jones
25,237.48 -0.38%
CAC 40
5,460.98 -0.68%

Brent Crude Oil NYMEX 73.37 +1.06%
Gasoline NYMEX 2.07 +0.92%
Natural Gas NYMEX 2.83 +2.95%




Shell A
2,531.5 -1.48%


Shell B
2,584.5 -1.39%

556.20-7.00 (-1.24%)BP

[la forge] 02/8/2018 13:55

The Winners And Losers This Earnings Season
By Tsvetana Paraskova - Aug 01, 2018, 5:00 PM CDT Oil jack

Higher oil prices this year boosted the earnings of all five Big Oil firms in the second quarter, but despite the increased profits, not all five oil supermajors—Exxon, Chevron, Shell, BP, and Total—fared equally as well in Q2, and clear winners and losers emerged from the earnings reports this past week.

The three European majors fared better than the two U.S. oil companies.

Among Europe’s Big Oil, BP and Total beat profit forecasts, while Shell’s earnings fell short of analyst expectations. Shell, however, announced the launch of a much-anticipated share buyback program.

The two U.S. supermajors disappointed with earnings below estimates, but Chevron—unlike Exxon—was spared the wrath of investors and the stock market after it also announced share repurchases.

Last week, France’s Total reported a 44-percent increase in second-quarter net profit on the back of record-high quarterly oil and gas production. Total beat analyst estimates, and said that its upstream is well positioned to take advantage of the rising oil prices as it expects production to grow by more than 7 percent this year.

Of the five Big Oil firms, Total’s shares rose the most on the day of its Q2 results announcement, a sign that investors and shareholders liked what they saw in the second-quarter performance and outlook for the rest of the year.

BP also pleased investors when it reported on Tuesday quadrupled second-quarter earnings from a year ago and announced the first dividend increase since the oil prices started crashing in 2014.
Related: Coke, Meth And Booze: The Flip Side Of The Permian Oil Boom

Last week BP had its investors briefly worried that it would break its financial framework when it announced a US$10.5-billion acquisition of U.S. shale assets from BHP, BP’s chief executive Bob Dudley told Bloomberg television. But the company assured investors that it would stick to its US$15-17 billion capital budget frame, divest other assets to offset the cost for the BHP deal, and increase distribution to shareholders, Dudley said. BP continues to plan budgeting at oil prices in the $50-65 a barrel range, rather than these higher prices, Dudley said, reiterating Big Oil’s favorite adjective to describe capital spending these days: disciplined.
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The third European major of Big Oil’s five—ShellR12;reported lower-than-expected profits for Q2, but on the bright side, it announced a share buyback program of at least US$25 billion in 2018-2020, subject to further progress with debt reduction and oil price conditions.

“Our financial framework remains unchanged. Our free cash flow outlook and the progress we have made to strengthen our balance sheet give us the confidence to start our share buyback programme,” Shell’s chief executive Ben van Beurden said.

Shell’s shares fell the most among Big Oil’s on the day of its earnings and share repurchase announcement, as the focus on debt reduction could mean a slower start to share buybacks.

Apart from Shell, investors also punished Exxon on the day of its Q2 results release. Exxon disappointed, for yet another quarter, after missing again analyst expectations, and reporting its lowest production in a decade. Investors and analysts were disappointed not only by the earnings miss, but also by the lack of any share buyback announcement or hint for such.
Related: PetroChina Sees Huge Boost In Profit

The other U.S. supermajor, Chevron, also missed earnings estimates, but announced last Friday much-awaited share repurchases, and saw its shares rise despite the profit miss.

Despite the rallying oil prices over the past year, shares in Big Oil companies have not risen as much as the price of oil, and have been lagging—and in some cases like Exxon significantly underperforming̵2;broader market indexes and energy-heavy exchange traded funds (ETFs). According to Bloomberg data, BP has shown the biggest average annual returns of nearly 11 percent, while Exxon’s have been a negative 1.25 percent.

Although profits are surging and buybacks are being announced or already carried out across the board, Big Oil still has work to do (and cash to distribute) to convince shareholders they are still a ‘world-class investment case’ as Shell’s van Beurden says about the company he leads.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

[optomistic] 02/8/2018 10:27

Have we gone x/d twice in the last two days :-/
Skinny 705 seems a long way from here, but good of Barclays to try to cheer us up.

[waldron] 01/8/2018 18:26

Total
55.48 -0.68%

Engie
13.54 -1.99%

Orange
14.585 -0.21%

FTSE 100
7,652.91 -1.24%
Dow Jones
25,388.11 -0.11%
CAC 40
5,498.37 -0.23%


Brent Crude Oil NYMEX 72.54 -2.05%
Gasoline NYMEX 2.05 -1.42%
Natural Gas NYMEX 2.77 -0.29%

2,621.00-50.50 (-1.89%)RDSB

2,569.50-45.50 (-1.74%)RDSA


563.20-10.10 (-1.76%)BP

[waldron] 01/8/2018 18:26

Total
55.48 -0.68%

Engie
13.54 -1.99%

Orange
14.585 -0.21%

FTSE 100
7,652.91 -1.24%
Dow Jones
25,388.11 -0.11%
CAC 40
5,498.37 -0.23%


Brent Crude Oil NYMEX 72.54 -2.05%
Gasoline NYMEX 2.05 -1.42%
Natural Gas NYMEX 2.77 -0.29%

2,621.00-50.50 (-1.89%)RDSB

2,569.50-45.50 (-1.74%)RDSA


563.20-10.10 (-1.76%)BP

[skinny] 01/8/2018 12:43

UBS Buy 564.15 610.00 - Unchanged

Barclays Capital Overweight 564.15 705.00 - Reiterates

[waldron] 01/8/2018 08:34

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 (August 1, 2018).

LONDON -- BP PLC on Tuesday said second-quarter profit jumped, as higher oil prices helped the company push its ambitious growth plans.

The London-based energy producer said its replacement cost profit -- a metric analogous to the net income that U.S. oil companies report -- tripled from last year's second quarter to $1.8 billion.

After years of cost-cutting and financial restructuring when crude prices slumped, BP and other big oil companies are benefiting from a recovery in the market. Oil prices are up more than 10% since the start of the year, leading to higher profit and cash flow for producers.

Brent crude prices averaged nearly $75 a barrel from April to June, compared with an average of roughly $50 a barrel in the same three months last year.

BP's production in the first half rose 3% from a year earlier, delivering on a strategy to return to its former size by the early 2020s.

"I can't remember when it has looked this good," BP Chief Executive Bob Dudley said.

Last week, the company announced a $10.5 billion deal to acquire some of the hottest assets in U.S. shale country. The acquisition marked BP's biggest in nearly 20 years and signaled the company's growing confidence. At the same time, it said it would increase its dividend for the second quarter by 2.5%.

BP is on track with its plan to restore growth following years of retrenchment in the wake of the Deepwater Horizon blowout in the Gulf of Mexico eight years ago.

Still, penalties related to the 2010 disaster remain a financial drag. BP's landmark $20 billion settlement with the U.S. government in 2015 requires the company to make annual payments of around $1 billion through the end of the next decade. Payments in 2018 are expected to total just over $3 billion after tax.

BP caps off a mixed earnings season for the world's biggest oil companies. The likes of Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell PLC all posted sharply higher profit, but for the most part failed to impress investors who had expected even bigger windfalls.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

August 01, 2018 02:47 ET (06:47 GMT)

[abbotslynn] 31/7/2018 23:00

128.9 it cost me today
Good petrol

[waldron] 31/7/2018 17:16

Total
55.86 +1.29%


Engie
13.815 +0.11%

Orange
14.615 +0.10%

FTSE 100
7,748.76 +0.62%
Dow Jones
25,436.56 +0.51%
CAC 40
5,511.3 +0.37%


Brent Crude Oil NYMEX 74.80 -0.84%
Gasoline NYMEX 2.09 -1.31%
Natural Gas NYMEX 2.81 +0.46%



BP
573.3 +1.38%



Shell A
2,615 +0.65%


Shell B
2,671.5 +0.93%

[waldron] 31/7/2018 12:23

LONDON -- BP PLC on Tuesday said second-quarter profit jumped, as higher oil prices helped the company accelerate ambitious growth plans.

London-based BP said its replacement cost profit -- a number analogous to the net income that U.S. oil companies report -- tripled to $1.8 billion in the second quarter, compared with $600 million in the same period a year earlier.

After years of cost-cutting and financial restructuring when oil prices slumped, BP and other big oil companies are benefiting from a recovery in the market. Oil prices are up more than 10% since the start of the year, allowing companies to generate higher profit and cash flow. Brent crude prices averaged nearly $75 a barrel from April to June, compared with an average of roughly $50 a barrel in the same three months last year.

Last week, BP announced a $10.5 billion deal to acquire some of the hottest assets in U.S. shale country. The acquisition is the company's biggest in 20 years and signals its growing confidence. At the same time, the company also said it would increase its dividend for the second quarter by 2.5%.

The numbers bear out BP's ambitious plan to regain its position among the elite tier of big energy companies following its fatal blowout in the Gulf of Mexico eight years ago. The company's production rose 3% in the first half of the year compared with the same period a year ago, delivering on a strategy to return to its former size by the early 2020s.

"I can't remember when it has looked this good," BP Chief Executive Bob Dudley said.

Still, payments related to the 2010 disaster remain a financial drag. BP's landmark $20 billion settlement with the U.S. government in 2015 requires the company to make annual payments of around $1 billion through the end of the next decade. Payments in 2018 are expected to total just over $3 billion after tax.

BP caps off a mixed earnings season for the world's biggest oil companies. The likes of Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell PLC all posted sharply higher profits, but failed to impress investors who had expected even bigger windfalls.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

July 31, 2018 06:32 ET (10:32 GMT)

[waldron] 31/7/2018 12:23

LONDON -- BP PLC on Tuesday said second-quarter profit jumped, as higher oil prices helped the company accelerate ambitious growth plans.

London-based BP said its replacement cost profit -- a number analogous to the net income that U.S. oil companies report -- tripled to $1.8 billion in the second quarter, compared with $600 million in the same period a year earlier.

After years of cost-cutting and financial restructuring when oil prices slumped, BP and other big oil companies are benefiting from a recovery in the market. Oil prices are up more than 10% since the start of the year, allowing companies to generate higher profit and cash flow. Brent crude prices averaged nearly $75 a barrel from April to June, compared with an average of roughly $50 a barrel in the same three months last year.

Last week, BP announced a $10.5 billion deal to acquire some of the hottest assets in U.S. shale country. The acquisition is the company's biggest in 20 years and signals its growing confidence. At the same time, the company also said it would increase its dividend for the second quarter by 2.5%.

The numbers bear out BP's ambitious plan to regain its position among the elite tier of big energy companies following its fatal blowout in the Gulf of Mexico eight years ago. The company's production rose 3% in the first half of the year compared with the same period a year ago, delivering on a strategy to return to its former size by the early 2020s.

"I can't remember when it has looked this good," BP Chief Executive Bob Dudley said.

Still, payments related to the 2010 disaster remain a financial drag. BP's landmark $20 billion settlement with the U.S. government in 2015 requires the company to make annual payments of around $1 billion through the end of the next decade. Payments in 2018 are expected to total just over $3 billion after tax.

BP caps off a mixed earnings season for the world's biggest oil companies. The likes of Exxon Mobil Corp., Chevron Corp. and Royal Dutch Shell PLC all posted sharply higher profits, but failed to impress investors who had expected even bigger windfalls.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

July 31, 2018 06:32 ET (10:32 GMT)

[waldron] 31/7/2018 11:59

WRITES ON TOTAL BUT LONG ON BP






Total Reviving Angola's Oil Sector
Jul. 31, 2018 6:06 AM ET |
About: TOTAL S.A. (TOT), Includes: BP, EQNR, GLPEF, SNP, XOM
Callum Turcan
Callum Turcan
Oil & gas, long-term horizon, Growth, Deep Value
LinkedIn Profile
(3,700 followers)
Summary

Angola's oil production has moved significantly lower over the past few years.

How Total and its partners are attempting to reverse that trend.

New fiscal framework for smaller fields key to getting bolt-on projects approved.

As part of the OPEC+ agreement, Angola agreed to keep its crude output at or below 1.673 million barrels per day. Since the agreement came into force at the start of 2017, Angola has been exceeding its mandate, as it was pumping out only 1.4-1.5 million bpd by mid-2018. However, this isn't by choice, as the oil-exporting nation is grappling with steep production declines from offshore developments, including the decreases seen at the Pazflor and Saturno facilities. Keep in mind, the nation was close to producing 2 million bpd back in 2008. Total SA (NYSE:TOT) is leading the charge on two major projects that may revive Angola's oil production. Let’s dig in.

For reference, Total produced 229,000 BOE/d net in Angola last year. That production was made possible through four FPSO vessels and the onshore Angola LNG facility, of which Total owns 13.6%. Having the ability to export natural gas to markets that will pay Brent-linked/influenced prices means associated gas production becomes a lot more valuable.

Source: Total
First half of the Kaombo project now operational

Located within Angola’s deepwater Block 32, the Kaombo development seeks to tap ~650 million barrels of oil equivalent (Total refers to these as reserves, so I’m assuming all of that will be recovered) spread out across six oil & gas fields underneath 4,800-6,400 feet of water. 185 miles of subsea gathering infrastructure will connect the Caril, Louro, Gengibre, Mostarda, Canela, and Gindungo fields to the two FPSO vessels (floating production storage and offloading) that will recover those resources.

First oil was originally targeted for 2017, but that timetable had to be pushed back until this July. The Kaombo Norte FPSO vessel didn’t leave Singapore until March 2018 and arrived in Angola by late April. As an aside, the two FPSO vessels Total is using to develop these resources are converted oil carriers (VLCCs, to be specific). Each vessel has 115,000 bpd of oil-treating capacity, 100 MMcf/d of gas compression capacity, 200,000 bpd of water injection capacity, and 1.7 million barrels of crude oil storage capacity.

Total owns 30% of the Kaombo development and is the operator of the venture. Its partners include the state-owned Sonangol P&P (30% interest), the Chinese energy giant Sinopec (NYSE:SNP) (20%), a subsidiary of Exxon Mobil Corporation (NYSE:XOM) (15%), and Portuguese-based Galp Energia (OTC:GLPEF) (5%). Development costs were pegged at US$16 billion in 2014, which may have crept higher after the delays.

In late July, the company was happy to announce that the Kaombo Norte FPSO had started producing, but readers should note it will take several months, probably close to a year, to ramp up output to full capacity. Oil will be exported to foreign markets, while gas will be piped to the onshore Angola LNG facility and will then be exported to foreign markets.

An API gravity rating and other specifications weren't given for the crude that will be pumped from these fields. Based on the crude types produced at nearby fields, these are probably going to be medium sweet oil barrels.

It won’t be until 2019 that the Kaombo Sur FPSO will start producing, so it is very likely it will be until 2020 that Block 32 produces 230,000 barrels of crude per day. Water injection wells are being utilized to maintain reservoir pressure and manage the production decline of the development’s producing wells.
Another project approved

Total is leading the charge on the Zinia 2 project in Block 17 (located adjacent to Block 32), which envisions sustaining production processed through the Pazflor FPSO. Located between 2,000-4,000 feet of water, the Zinia 2 development will target satellite resources through nine wells (likely a combination of producer and water injection wells) that will be tied back to the Pazflor FPSO. This project is expected to have a development cost of $1.2 billion USD and will sport a peak production rate of 40,000 BOE/d.

While the project was only just approved in May 2018, as a bolt-on development this short-cycle endeavor will take a lot less time to complete than a greenfield project. Leveraging existing infrastructure dramatically cuts down on development times, especially when it comes to offshore conventional projects.

Total owns 40% of Block 17 and is the operator of the offshore concession, and its partners include Equinor ASA (NYSE:EQNR) (23.33%), Exxon Mobil (20%), BP plc (NYSE:BP) (16.67%), and Sonangol as the concessionaire. These are also likely to be medium sweet crude volumes, based on the quality of previous Pazflor FPSO oil sales.

A key factor in the consortium reaching a positive final investment decision on the Zinia 2 project was a reduction in Angola’s petroleum production tax and petroleum income tax for marginal fields. These are fields with less than 300 million barrels of oil equivalent in reserves, such as the satellite resources being developed through Zinia 2. For these marginal fields, the petroleum production tax is now 10%, down from 20% previously, and the petroleum income tax has been moved down to 25%, versus 50% previously. Total made sure to mention the tax cuts, approved by Angola's government in early 2018, in its press release announcing the sanctioning of Zinia 2.
Final thoughts

Total is playing a major role in halting the decline in Angola’s oil output, but more projects are needed to fully offset losses at mature fields. The Angolan government is hoping the new and improved fiscal framework for marginal fields will encourage more bolt-on developments getting approved. We’ll see how this pans out. Thanks for reading.

Author’s note: Some of the companies mentioned above don’t trade on a major U.S. stock exchange, which come with their own sets of risks and rewards. Always do your own due diligence before investing.

Disclosure: I am/we are long BP.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

[waldron] 31/7/2018 11:42

STOCKHOLM (Agefi-Dow Jones) - Aker BP, the joint venture between the Norwegian group Aker ASA and the British oil company BP, announced Tuesday it has acquired the interests of the oil giant Total in a portfolio of 11 licenses on the Norwegian continental shelf, for $ 205 million in cash.


Aker BP said in a statement that this portfolio included four discoveries with recoverable resources equivalent to 83 million barrels of oil.


-Dominic Chopping, Dow Jones Newswires (French version Alice Doré) ed: LBO


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


July 31, 2018 05:07 ET (09:07 GMT)