Bp Share Discussion Threads

[veryniceperson] 31/7/2018 07:45

Should see a decent rise today. Earnings looked good unless I missed something. GOM payment was 700 million was the only downside. Onwards and upwards hopefully.

[skinny] 31/7/2018 07:03

Highlights

Strong earnings, strategic momentum, increased dividend

• Underlying replacement cost profit* for the second quarter of 2018 was $2.8 billion - four times that reported for the same period in 2017 - including significantly higher earnings from the Upstream and Rosneft.

• Operating cash flow excluding Gulf of Mexico oil spill payments* was $7.0 billion in the second quarter - which included a $1.3 billion working capital* release (after adjusting for inventory holding gains*) - and $12.4 billion in the first half, including a $0.4 billion working capital build.

• Dividend was increased 2.5% to 10.25 cents a share, the first rise since the third quarter of 2014.

• Upstream reported the strongest quarter since the third quarter of 2014 on both a replacement cost and underlying basis.

• Oil and gas production: reported production in the quarter was 3.6 million barrels of oil equivalent a day. Upstream production, excluding Rosneft, was 1.4% higher than a year earlier and up 9.6% when adjusted for portfolio changes and pricing effects, driven by rising output from new major projects* and strong plant reliability*.

• Major projects: with start-ups in Azerbaijan, Russia and Egypt, three of the six new projects expected to start in 2018 are now online.

• Strategic portfolio management: agreed to buy world-class US onshore oil and gas assets from BHP, a $10.5 billion acquisition that will transform BP's US Lower 48 business. BP also agreed to increase its stake in the Clair oilfield in the UK while exiting the Greater Kuparuk Area in Alaska.

• Downstream reported strong first half refining performance, with record levels of crude processed at Whiting refinery in US; further expansion in fuels marketing, with more than 1,200 convenience partnership sites now across our retail network.

• Advancing the energy transition: acquisition of UK's largest electric vehicle charging company Chargemaster and investment in innovative battery technology firm StoreDot move forward BP's approach to advanced mobility.

• Gulf of Mexico oil spill payments in the quarter were $0.7 billion on a post-tax basis.

• Net debt* reduced in the quarter by $0.7 billion to $39.3 billion.

• BP's share buyback programme continued with 29 million ordinary shares bought back in the first half at a cost of $200 million.

more.....

[waldron] 30/7/2018 17:57

Total
55.15 +0.27%

Engie
13.8 -2.47%

Orange
14.6 -0.21%

FTSE 100
7,700.85 -0.01%
Dow Jones
25,343.8 -0.42%
CAC 40
5,491.22 -0.37%


BP
565.5 -0.32%


Shell A
2,598 -0.04%


Shell B
2,647 -0.53%


Brent Crude Oil NYMEX 75.59 +1.00%
Gasoline NYMEX 2.12 -0.11%
Natural Gas NYMEX 2.79 +0.18%

[maywillow] 29/7/2018 22:38

Sunday 29 July 2018 6:52pm
BP tipped for 75 per cent profit growth in its second quarter
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Emily Nicolle
Technology reporter at City A.M., covering all things tech, fintech and venture [..] Show more
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Source: Getty

British oil firm BP is expected to post $2.7bn (£2.06bn) in profits as part of its second quarter results on Tuesday, as it continues to benefit from strong oil prices and its best financial performance in four years.

Consensus estimates collated by S&P Global Market Intelligence put this at an increase of 74.6 per cent year-on-year, indicating that BP remains on track after reporting a similar increase in profits in its first quarter in May.

The company has been boosted by oil prices hitting $80 a barrel earlier this year, and a limited run-on impact from the Gulf of Mexico oil spill in 2010.

Read more: BP profits soar 71 per cent in one year to £1.9bn

As such, CMC Markets said it would be “very surprising” if BP weren’t to show significant improvement in its second quarter. That being said, analyst Michael Hewson believes last week’s lacklustre results for sector peer Shell could spell upcoming bad news from BP if it doesn’t outperform.

Hewson added that BP is running out of time to reduce its “Achilles̵7; heel” debt pile, which is now close to $40bn. After acquiring mining firm BHP’s US shale assets for $10.5bn last week, the company is putting a lot on the line in the event of another downturn in the market if it leaves its debt to the last minute.

Read more: BP has bought US shale assets in major bid to expand oil footprint

Naeem Aslam at Think Markets, however, saw BP’s deal with BHC as a “promisingR21; sign for the future of oil demand, as the industry begins to consolidate and eliminate its competition.

BP’s revenue for the three months ending in June is estimated at $82.5bn, an increase of 31.3 per cent when compared with the same period in 2017.

Earnings per share are expected to be in the region of $0.14, a significant step up from just $0.01 a year earlier.

[the grumpy old men] 28/7/2018 17:55

CITI: Oil could sink to $45 a barrel over the next year
Irina Slav, OilPrice.com
0m
shale oil young worker Andrew Burton/Getty Images

Oil prices have recently shot up into the $80 a barrel range.
But the analysis behind the bullish case for crude is faulty.
Analysts at Citi think it could fall to $45 a barrel within a year.

Oil could be back to US$45 a barrel within 12 months, Citigroup's commodities chief Ed Morse said in an interview with the Financial Post, noting that the bullish case for crude is based on a faulty analysis.

The top oil forecaster who warned about the 2014 price collapse and also accurately predicted that the OPEC+ club would end its production cut deal earlier than everyone expected, has said that the capital efficiency and technological advancements that have improved oil recovery goes against the bullish scenario, because the better the recovery rate, the more oil that can be produced on the cheap. Also, he said, the bulls make a mistake in estimating a global acceleration in total oil production decline when this acceleration will only take place in mature fields, which represent about 45-50 percent of the global total.

It is illogical, Morse said, to forecast a decline of production in places where production will not be declining, such as the Canadian oil sands. The analyst also noted OPEC as a case in point, given, he said, its ability to consistently produce an average 35 million bpd over a 50-year period.

The assumption of a decline rate of 5 percent for these mature fields yields a supply fall of 2-3 million bpd, which is about half of what bulls are forecasting based on their all-embracing assumption of production decline.

Citigroup's commodities head allowed that spare capacity is a legitimate concern in global oil, but he added that deliverability is the real issue and it is actually looking good at the moment. Saudi Arabia, he said, can deliver 15 million bpd through its ports and has some 300 million barrels of crude in storage at home plus more abroad. In other words, the Kingdom could hypothetically deliver 15 million bpd, but it is only producing 10.8 million bpd.

In the immediate term, however, Morse agrees oil will continue strong. It can't really be any other way: the supply disruption potential in Libya and Venezuela, the Iran sanctions, and the U.S.-China trade war are all arguments for the bullish case for oil and they will remain on the scene in the next few months.

Next year, however, Morse believes Brent could drop back to between US$45 a US$65 a barrel.

Get the latest Oil WTI price here.
Read the original article on OilPrice.com.

[zztop] 28/7/2018 10:21

Bp strong buyDid manage a top up 553 early on yesterdayLooking to move over 6.00 short term

[maywillow] 28/7/2018 10:14

psychochopper
27 Jul '18 - 22:51 - 2005 of 2007 (Filtered)


0 1 1

[waldron] 28/7/2018 08:06

thanks Gateside

Have a most enjoyable weekend

[gateside] 27/7/2018 23:43

Waldron... Thanks for the useful info

[waldron] 27/7/2018 17:32

Total
55 +1.85%

Engie
14.15 +2.46%

Orange
14.63 +2.31%

FTSE 100
7,701.31 +0.50%
Dow Jones
25,547.59 +0.08%
CAC 40
5,511.76 +0.57%



Brent Crude Oil NYMEX 75.23 +0.36%
Gasoline NYMEX 2.13 +0.87%
Natural Gas NYMEX 2.79 +1.12%



BP
567.3 +0.50%


Shell A
2,599 +0.89%


Shell B
2,661 +1.31%

[dov] 27/7/2018 12:36

And down again!

[neilyb675] 27/7/2018 11:06

gone positive

[skinny] 27/7/2018 10:54

UBS Buy 563.55 610.00 - Unchanged

[zztop] 27/7/2018 09:08

Market always slow to react

[dov] 27/7/2018 08:41

Market not sold on this deal clearly

[garycook] 27/7/2018 07:47

Around 7.8p a Quarter at the present GBP/USD rate.Takes the yield on BP around 5.5%

[zztop] 27/7/2018 07:43

Uk price dividend?

[neilyb675] 27/7/2018 07:28

Boom

Big asset purchase from BHP in USA.

Divi increased to 10.25 cents.

[steve73] 27/7/2018 07:26

That's sneaky... hiding the dividend increase under a misleading title....

Dividend increasing slightly to 10.25ct...

[hellscream] 27/7/2018 04:09

wonder how hard were gonna get hit today.

[waldron] 26/7/2018 17:47

Total
54 +2.27%

Engie
13.81 +2.26%

Orange
14.3 +2.29%


FTSE 100
7,663.17 +0.06%
Dow Jones
25,555.64 +0.56%
CAC 40
5,480.55 +1.00%


Brent Crude Oil NYMEX 74.49 +0.59%
Gasoline NYMEX 2.11 +1.06%
Natural Gas NYMEX 2.76 +0.22%

BP
564.5 -0.27%

Shell A
2,576 -3.05%


Shell B
2,626.5 -3.61%