Bp Share Discussion Threads

[toon1966] 11/12/2017 17:35

No need to shout sarkasm! The problem as I see it is Monty probably does not know 'these things' as you put it.

[sarkasm] 11/12/2017 17:29

WE KNOW THESE THINGS

SO THE RULE IS TO TAKE WHAT ONE CAN USE AND IGNORE ANY NOISE

BUT ATLEAST HE HAS GIVEN A LITTLE INFO


CHEERS HAVE A GREAT WEEK

[toon1966] 11/12/2017 17:24

I see Monty is getting his undergarments in a twist. Just to let you know Monty there are approximately 80 million bpd produced globally. UK lies about 20th in terms of oil producers....

[montyhedge] 11/12/2017 16:49

$70 would be nice.

[montyhedge] 11/12/2017 16:40

Oil $70 I reckon

[montyhedge] 11/12/2017 16:35

Thank goodness, 150,000 barrels offline, I thought they said, oil will take off if true.

[waldron] 11/12/2017 16:30

BP LIKE SHELL SOLD OUT




MONTY EXPECT TO HAVE A RED THUMB FOR JUST VENTURING ONTO THIS THREAD,CHUCKLE

TAKE CARE

ENJOY YOUR WEEK

[montyhedge] 11/12/2017 16:17

What North sea oil pipeline to be stopped due to hairline crack. According to Bloomberg.

[waldron] 11/12/2017 08:35

BP Amazon reef plans dealt further blow by Brazilian regulator

The oil giants move to drill in the mouth of the Amazon river faces another delay
02h

Joe Sandler Clarke
@JSandlerClarke

Scientists have been shocked at the depth and size of the Amazon reef. Photo: Greenpeace
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BPs plans to drill for oil near a huge coral reef in the mouth of Amazon river have been dealt a further blow after a regulator questioned the company’s environmental risk assessment.

Ibama, Brazil’s federal environmental agency, rejected an environmental study from the British oil giant, further delaying the company’s plans to drill in the region.

In a technical note [in Portuguese], the agency criticised the study for a lack of detail on oil spill modelling and the impact drilling could have on local wildlife, and said it required more information before allowing the company to proceed with plans to drill in the region.

The news comes just a few weeks after Unearthed revealed that the British oil giant discussed concerns over environmental licensing in Brazil with a UK government minister.

Department of International Trade (DIT) minister Greg Hands then personally lobbied Brazil’s deputy mines and energy minister Paulo Pedrosa on the issue.

When asked to comment on that story, a spokesperson for DIT said: “it is absolutely not true that our Ministers lobbied to loosen environmental restrictions in Brazil – the meeting was about improving the environmental licensing process, ensuring a level playing field for both domestic and foreign companies, and in particular helping to speed up the licensing process and make it more transparent, which in turn will protect environmental standards”.
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Amazon reef

Geologists believe there could be as much as 14 billion barrels of oil in the region, known as the Foz do Amazonas basin.

But a massive coral reef has thrown plans to drill in the area into doubt.

Scientists had long suspected there might be a reef in the region, but its size and depth was not confirmed until five years ago, just as the Brazilian government was putting out drilling licenses to tender.

BP, along with French company Total and Brazil’s Petrobras, snapped up five exploration blocks in the mouth of the Amazon in 2013.

In order to drill for oil in the region, companies have to submit an environmental impact assessments (EIA) to Ibama.

Ibama said the methodology in BPs EIA for the FZA-M-59 block,was “very limited” and the regulator needed more information about what the impact of a oil spill might be in the region. BP holds a 70% stake in the block, with the remaining 30% owned by Petrobras.

Contacted by Unearthed, BP said “requests for clarifications”; from the regulator may occur several times before a permit is issued.

“As part of the licensing process for drilling a well on the FZA-M-59 block, BP has received the first technical opinion requesting clarifications to the environmental impact study that was presented.

“Under Brazilian legislation and the licensing process managed by IBAMA, requests for clarifications related to the environmental study typically can and do occur several times before the issuance of an environmental permit.”

Trade minister Greg Hands lobbied a Brazilian official on concerns from Shell and BP, according to documents obtained by Unearthed. Photo: Ben Pruchnie/Getty Images
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‘30% chance of a spill hitting the reef’

Previous assessments filed by the oil majors have caused controversy.

Earlier this year, Unearthed reported that documents filed by Total and BP to Ibama showed that there was a 30% chance that a prospective spill from the company’s shared blocks could reach the reef.

At the time a BP spokesperson told us: “Operations on the blocks will only proceed when fully permitted by the Brazilian regulators.”

Just a few weeks later, Unearthed found a document showing that BP intended to use a chemical known as Corexit in the event of an oil spill in the region.

The chemical dispersant was used extensively during the Deepwater Horizon disaster in 2010 and three years later, scientists found that the chemical had a negative impact on coral larvae in the Gulf of Mexico.

BP still intends to drill in the region in 2018.

British government lobbying

The news comes as BP finds itself embroiled in a political controversy in Brazil.

We previously reported that a diplomatic telegram from the British government, obtained by Unearthed, showed that, at a “private breakfast” in Rio de Janeiro, BP – together with Shell and Premier Oil – relayed their concerns “around taxation and environmental licensing” to Greg hands, who then raised them “directly̶1; with Brazilian official Pedrosa.

Now a group of politicians in Brazil are asking prosecutors to investigate whether there may have been any breach of Brazilian law in the award of offshore oil blocks to international companies, including BP.

[waldron] 08/12/2017 07:42

BP says 2017 a success as it shifts focus to natural gas

By Jordan Blum
December 7, 2017 Updated: December 7, 2017 11:29pm

0

BP's Juniper gas production platform is about 50 miles off Trinidad's southeast coast. BP has completed seven major projects this year. Photo: BP / Internal

Photo: BP
Image 1 of 2
BP's Juniper gas production platform is about 50 miles off Trinidad's southeast coast. BP has completed seven major projects this year.

The massive Zohr gas field off Egypt will come online by the end of December, marking the completion of what British energy giant BP says is one of its biggest years ever as it increasingly focuses on international natural gas projects.
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BP is shifting from crude oil toward cleaner-burning gas projects in developing parts of the world as it seeks to transform itself as a result of the 2010 Deepwater Horizon tragedy, the subsequent oil price bust and the world's increasing focus on climate change. BP historically held a portfolio that was 60 percent oil, but that is expected to shift to 60 percent natural gas by 2020, company officials said.

BP completed seven major projects this year, in Egypt, Trinidad and Tobago, Oman, Australia and in the North Sea near its home base in the United Kingdom. Out of those seven, only the North Sea expansion is focused on crude oil. The rest primarily aim to deliver natural gas, a cleaner-burning fuel that is expected to fit better into a lower-carbon environment.

The last to be completed, Zohr is the largest gas discovery ever in the Mediterranean. BP bought a 10 percent stake in Zohr early this year from Italy-based Eni for $375 million.
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The Mad Dog platform operates in the Gulf of Mexico. (BP)
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BP routinely ran over budget and behind schedule on projects through 2010, Dave O'Connor, head of BP's Global Projects Organization, said during an end-of-year briefing Thursday at BP's Energy Corridor campus in Houston.

Since then, BP has become a leader in keeping project costs below budget and finishing on time, he said.

"We've come a long way," O'Connor said. "This is the biggest year in our history in respect to completing, commissioning and starting up projects."

O'Connor highlighted the second phase of BP's Mad Dog development in the U.S. Gulf of Mexico as an example of BP's renewed focus on efficiency and cost savings. The project was originally estimated at $20 billion in 2012 and was considered too costly.

After going back to the drawing board, cutting the bells and whistles and modeling Mad Dog after a previous Gulf project, instead of starting from scratch, the cost came in at $9 billion last year. It also helped that services companies and suppliers were offering deeper discounts during the oil bust.

"It was a big wake-up call for us," O'Connor said.

BP will complete a Gulf of Mexico expansion next year at the Constellation discovery with its partner, The Woodlands-based Anadarko Petroleum Corp.

But the company is largely shifting its attention and resources from the Gulf. BP may consider other big U.S. projects in the future, but for now any additional U.S. growth will come from expansions of its four existing Gulf of Mexico platforms: Atlantis, Na Kika, Thunder Horse and Mad Dog.

In order to justify new projects, BP needs to show it can make 15 percent returns with the global benchmark for oil from the North Sea priced at $50 a barrel.

So things are looking up, O'Connor said.

That North Sea oil benchmark is priced at about $62 per barrel.

[steve73] 08/12/2017 02:03

After 14 days of buying back (excluding a couple of days they didn't buy any), they have managed to retrieve just 2% of their target figure, with hardly any effect on the share price

oh well.. dividend soon.

[waldron] 07/12/2017 19:32

SILLY BOY STILL MARKING DOWN MOST POSTS

[alphorn] 07/12/2017 10:22

Increased long position this morning.

[the grumpy old men] 07/12/2017 10:15

BP, Total’s ratings could absorb end of scrip dividends: Fitch

December 7, 2017 Company News, Crude Oil, Europe, Natural Gas, News 0

European oil majors BP and Total could be pressured into following Shell’s recent decision to cancel scrip dividends and return to paying its dividend entirely in cash, but such a move is unlikely to negatively impact their debt ratings, Fitch Ratings said Wednesday.

Analysts at the credit rating agency said in a note both BP and Total have rating headroom if scrip dividends are ended, at least more headroom at their current rating than Shell did.

Fitch has affirmed Shell at "AA-" with a negative outlook after last week’s decision, claiming the plan will slow the firm’s deleveraging, Kallanish Energy learns.

If both companies were to completely cancel scrip dividends beginning in 2018, it would “probably take significantly more shareholder-friendly actions, such as very large share buybacks or rising dividends, as well as rising capital intensity, for the ratings of Total and BP to come under significant pressure,” Fitch said.

All three oil majors introduced scrip dividend programs when oil prices collapsed in 2014-2015, rather than cut gross dividends, which helped balance cash flows and reduce additional borrowing.

The analysts said the recent oil price recovery, along with pressure from shareholders who don’t want their shares diluted, could incentivize oil companies to increase cash distributions by cancelling scrip dividends, launching share buybacks or even raising dividends.

Shell saved roughly $11 billion of cash with the program, but reiterated its commitment to buy back at least $25 billion of shares in 2017-2020, subject to a sustained recovery in crude prices and debt reduction. Its reference oil price is $60 a barrel.

Fitch analysts, however, see Shell's decision as credit negative “as it will reduce the company's financial flexibility under our base case of oil prices returning to below $55/Bbl in 2018, and refining margins moderating.”

[la forge] 04/12/2017 10:05

Home » Reports » Broker Ratings » BP plc 36.3% Potential Upside Indicated by Barclays Capital
broker ratings
BP plc 36.3% Potential Upside Indicated by Barclays Capital

Posted by: Amilia Stone 4th December 2017

BP plc with EPIC/TICKER (LON:BP) had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘OVERWEIGHT217; this morning by analysts at Barclays Capital. BP plc are listed in the Oil & Gas sector within UK Main Market. Barclays Capital have set their target price at 675 GBX on its stock. This is indicating the analyst believes there is a potential upside of 36.3% from the opening price of 495.3 GBX. Over the last 30 and 90 trading days the company share price has decreased 25.8 points and increased 48.3 points respectively. The 1 year high stock price is 529 GBX while the year low share price is currently 436.95 GBX.

BP plc has a 50 day moving average of 498.52 GBX and the 200 Day Moving Average price is recorded at 469.50. There are currently 438,878,705 shares in issue with the average daily volume traded being 30,918,554. Market capitalisation for LON:BP is £98,176,977,551 GBP.

[optomistic] 01/12/2017 15:32

No, shares if you have elected that option.

[lollipop3] 01/12/2017 15:28

Is the divi only paid in cash this time?TIA

[ariane] 01/12/2017 12:52

BP says its capex in Azerbaijan don’t depend on oil prices
1 December 2017 16:24 (UTC+04:00)

Baku, Azerbaijan, Dec. 1

By Maksim Tsurkov – Trend:

BP’s capital expenditures in Azerbaijan don’t depend on the current level of oil prices, BP Regional President for Azerbaijan, Georgia and Turkey Gary Jones told reporters in Baku Dec. 1.

He said that the current level of oil prices [above $60 per barrel] won’t affect BP’s capital expenditures plan in Azerbaijan for the next year.

The BP’s capital expenditure program is planned several years ahead, he noted.

The current level of prices has remained the same for about a month, but there are no clear trends whether the prices will remain at the same level or decrease, he added.

The BP plans its budget based not on oil prices but on the efficiency of operations, investments, he said.

BP will invest in operations in Azerbaijan even at low oil prices, and the same goes for investments in social projects, Jones noted.

BP and its partners invested $36.87 billion in oil and gas projects in Azerbaijan in 2012-2016.

Capital expenditures for the Azeri-Chirag-Gunashli (ACG), Shah Deniz, Baku-Tbilisi-Ceyhan and South Caucasus projects amounted to $29.845 billion, and operating expenses were estimated at $7.025 billion.

At the same time, capital expenditures for projects since the beginning of operations in 1995 amounted to $64.5 billion.

BP is the operator of the Shah Deniz and ACG development projects.

---

Follow the author on Twitter: @MaksimTsurkov

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