Bp Share Discussion Threads

[optomistic] 23/10/2018 16:01

I though the Dow was doing that this afternoon hellscream

[hellscream] 23/10/2018 15:42

traders using bp as a way to push the ftse down that's all.

[optomistic] 23/10/2018 15:08

Going from bad to worse!

[optomistic] 23/10/2018 14:16

Double post...

[optomistic] 23/10/2018 14:03

BP down again, today by 2.2%...the 3rd qtr results out on the 30th Oct and Brent hovering around $78
It seems unrealistic that BP's share price has weakened to this level when everything 'in the garden' seems so rosy.
Surely the results will signal a rapid re rating of the stock. In the meantime with such a good yield adding at this level must be a good move.

[la forge] 23/10/2018 12:45

Lightbulb
Leadership
BP Borrows Ideas from Other Industries to Drive Billions in Savings
“The Googles, the Apples, the pharma companies, the motor companies—we look at all of them.”

Bloomberg | Oct 23, 2018

As the sun reaches its crest over Oman’s sandy landscape, temperatures soar past the point at which it can melt a road. The searing heat triggers sensors that roughnecks extracting natural gas from a BP Plc well are wearing across their chests.

Faster than a drop of sweat can fall to the ground, they ping biological data to a bespoke, explosion-proof smartphone. After a near instantaneous analysis of heart rate, body temperature and breathing rhythm, a screen lights up. It’s time for a break. A medic in an office gets the same notification and will force the crew out of the heat if it comes to that. Failure to do so risks heat stroke, lost time and lost money.

The use of data in this scenario described by BP holds big promise for the company, which has cut billions of dollars of costs following oil’s recent existential slump. If applied widely, technology could save even more, with machines able to prevent people and equipment from breaking down, rather than hustling to expensively repair them.

BP is borrowing technology and adapting it for its own use. The idea of the body sensors in Oman came from fitness trackers that have adorned people’s wrists for years. For oil companies, sometimes seen as being set in their ways, it also represents a new culture.
Looking at Innovative Companies, Big and Small

“Because oil and gas is quite conservative, we spend a lot of time looking at the real innovative companies in the world, from big to small,” said BP’s Blaine Tookey, part of a 26-member team that spends most of its time “scanning̶1; other industries.

“The Googles, the Apples, the pharma companies, the motor companies—we look at all of them.”

Tookey’s team morphed into its current form in 2014, just as plummeting oil prices were making cost cutting essential to survive. Under Chief Digital Innovation Officer Morag Watson and a few others at BP, the company has become transfixed on adapting tech used in everyday life.

For example, the popular music app Shazam, which can identify millions of songs with a short sample. The British company applied the idea to an oil well out in the seas by putting miles of fiber-optic cables inside. The cables act as sensors and can record sounds as faint as moving grains of sand deep under the ocean.

Like in the app, these are then matched to a library of acoustics, helping pinpoint problems—ranging from sand entering a well to gas bubbles in oil—and showing its exact location. The entire process takes five seconds.

“We used to save that data on hard drives and disks, and then we would send it to shore on a ship,” said Paul Beaumont, a production technology manager whose team designed the process of using the fiber-optic cables. “And after about three or four months they’d say: ‘Here’s a log of what’s going on in that well,’ and we’d say: ‘That was four months ago. Now things have changed.”̵7;

The benefits of cost cutting were readily apparent over the last few years. As Benchmark Brent oil crashed from above $100 a barrel to $28 in 2016, the company was forced to slash capital expenditure by about a third, or $10 billion annually. Yet production has been steadily climbing.

It’s hard to say just how much BP stands to gain from integrating the best in consumer tech. Bernard Looney, the upstream chief executive officer, suggests much of the recent cost reductions have to do with tech’s increasing ability to let them do more for less. A favorite story he likes to tell at conferences is about BP’s Gulf of Mexico field Atlantis, where an algorithm by a Stanford student crunched data in two weeks that would have previously taken 1,000 years.

That enabled the company to identify 200 million barrels—potentially worth about $16 billion at current Brent oil price of about $80 a barrel—that it hadn’t seen before, Looney said at a London conference in October. “Technology is huge,” he said. Looney and Watson have been instrumental in changing the mindset of BP, according to people in the company’s tech team. Unlike previous time-consuming and costly ways that sometimes came up with sub-optimal technology, BP now incorporates feedback from teams and tweaks things as they go along, according to Beaumont.

Looney even has a “reverse mentor,” a 20-something brainy BP petro-physicist who regularly tells him what the cool kids in tech are doing these days.

“When a developer says: ‘Hey Paul, you want to see something cool?’ I know it’s going to be good.”

BP’s Upstream Chief Information Officer David Rae sees so much potential in harvesting external ideas, he pioneered a program where his employees spend a few months working at other companies. The first set was expected to go to firms including Microsoft Corp. and International Business Machines Corp., he said.

Still, like most technology that collect data, there are concerns about privacy. Tookey’s group want to attach tracking tags, popular with some major retailers, to workers’ helmets. That could give BP data on how people move through its refineries, improving the way they’re designed. It also sounds like something that could prove an employee took an unauthorized break.

Tookey said the tech needs to ensure the data collected only shows broad trends, and is anonymous.

His group is working on other tech. Like putting water bottle-sized satellites in the sky to keep a constant eye on its assets from space. Or giving engineers in an office on land a better look at oil-production platforms far out at sea by projecting a 360-degree view inside of a walk-in tent—an inspiration from crime-scene investigations.

“The acceleration in the capability just in the last two years has been phenomenal, really,” said Beaumont. “When one of the developers says: ‘Hey Paul, you want to see something cool?’ I know it’s going to be good.”

By Kelly Gilblom

[waldron] 22/10/2018 17:33

Total
52.08 -1.42%


Engie
11.695 -0.34%

Orange
13.885 -1.17%

FTSE 100
7,042.8 -0.10%
Dow Jones
25,312.28 -0.52%
CAC 40
5,053.31 -0.62%


Brent Crude Oil NYMEX 79.46 -0.65%
Gasoline NYMEX 1.89 -1.31%
Natural Gas NYMEX 3.16 -2.07%



BP
550.8 -1.20%


Shell A
2,498 -0.91%


Shell B
2,548.5 -0.80%

[sarkasm] 22/10/2018 13:41

Is the BP share price a ‘buy’ right now?

Rupert Hargreaves | Monday, 22nd October, 2018 | More on: BP ENQ
Image source: Getty Images.

Over the past few weeks, as volatility has gripped the FTSE 100, shares in oil giant BP (LSE: BP) have remained surprisingly resilient. The stock has only declined by 2.4%, excluding dividends, since mid-July, compared to a decline of 7.8% for the FTSE 100 over the same period.

In my view, this resilience shows that BP remains an investor favourite, and could be a great addition to your portfolio if you’re looking for stocks to protect your money from market volatility.
Profits recovering

Following years of cost-cutting, BP is now a leaner operation than ever before, which bodes well for investors. Indeed, shareholders are already reaping the benefits of the company’s leaner operating structure as the price of oil hovers near a multi-year high.

Last year, the company became the first of the Big Oil group to re-introduce share buybacks. Most eliminated these efforts to return cash to investors when the price of oil started to decline in 2014.

I’m expecting BP to ramp-up its cash return plans over the next six months as the firm’s bottom line gets a boost from the rising price of oil. On top of the buybacks, investors are entitled to a market-beating 5.6% dividend yield. The shares are hardly expensive either, changing hands for just 11.6 times forward earnings.

With higher cash returns on the cards, I rate BP a ‘buy’ right now.
High risk, high reward

If BP is one of the FTSE 100 most trusted dividend stocks, at the other end of the spectrum is small-cap oil producer Enquest (LSE: ENQ), which has endured a mixed record of growth.

For the past few years, the company has been struggling under a mountain of debt, built up when the price of oil was trading above $100 a barrel. Management has pulled out all of the stops to keep the business alive and, so far, these efforts seem to be paying off. The rising price of oil has helped, but cost reductions have done the bulk of the heavy lifting, putting Enquest back on a stable footing.

Management is now so confident that the company’s recovery is on-track that it’s started chasing growth again. The group recently exercised an option with BP to expand its ownership of the jointly-owned Magnus field and associated infrastructure and the Thistle and Deveron fields. This deal will give the firm an estimated additional 60m barrels of reserves for a total cost of £106m, funded by way of a rights issue.

As it continues its recovery, I view Enquest as a binary investment. The company will either make a full recovery or fail. I think the former is more likely, and the subsequent stock price recovery could produce tremendous gains for investors. For example, right now the stock is trading at a forward P/E of just 2.4 that’s compared to the sector average of 8.2.

These figures tell me that if Enquest can convince investors its recovery is the real deal, there could be an upside of 240% or more on offer here. The reward is certainly worth the extra risk in my view.

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Rupert Hargreaves owns no share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

[maywillow] 22/10/2018 09:40

Monday 22 October 2018 9:24am
BP and Shell get green light for North Sea joint venture, drilling for 20m barrels of oil
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Joe Curtis
Joe Curtis is the digital editor of City A.M.
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BP Filling Station Signage
The Alligin approval is BP's second go-ahead to drill for oil in two months (Source: Getty)

BP and Shell received approval for their 50-50 joint Shetland venture today, which they predict could produce 20m barrels of oil.

The Alligin oil field in the North Sea should produce 12,000 barrels of oil per day at its peak once it comes on stream in 2020, the oil giants said.

Read more: BP wins approval for North Sea project to produce 30m oil barrels

Ariel Flores, BP's North Sea regional president, said: “We announced our intention to develop Alligin in April and six months later we have achieved regulatory approval. Always maintaining our focus on safety, we are modernising and transforming how we work in the North Sea to fully realise the potential of our portfolio.

“Alligin is part of our advantaged oil story, rescuing stranded reserves and tying them back into existing infrastructure. Developments like this have shorter project cycles, allowing us to bring on new production quicker. These subsea tiebacks complement our major startups and underpin BP’s commitment to the North Sea.”

The fast-tracked development, 140km west of Shetland, was approved by the Oil and Gas Authority (OGA), and will use new subsea infrastructure including gas lift and water injection pipeline systems, with Deepsea Aberdeen’s rig drilling the pair of wells.

Read more: Oil prices fall after US crude inventories boosted by six million barrels

It is BP’s second approval for North Sea drilling in the last two months, after it received regulatory approval for its Vorlich oil field in September, where it hopes to fill 30m barrels of oil.

Meanwhile, its development at its Clair Ridge field is expected to begin later this year, targeting 640m​ barrels of oil and 120,000 barrels of oil a day.

Brenda Wyllie, west of Shetland and northern North Sea area manager for the OGA, said BP and Shell’s Alligin field will benefit from storing oil in its recently built Glen Lyon ship, which can store and offload oil

“[It] is a good example of the competitive advantage available to operators from the extensive infrastructure installed in the UK continental shelf,” she added.

[maywillow] 22/10/2018 09:35

BP given approval to develop new North Sea oil field
North Sea Oil is recovering from a previous slump. (File Photo)
North Sea Oil is recovering from a previous slump. (File Photo)
Published: 08:32 Monday 22 October 2018
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BP has been granted approval to develop the Alligin field in the North Sea, targeting 20 million barrels of oil equivalent.

The field, which lies 87 miles (140km) west of Shetland, is expected to produce 12,000 barrels gross of oil equivalent a day at peak.

BP has received approval from the Oil and Gas Authority (OGA) to proceed with the development, which is expected to come on stream in 2020.

Alligin forms part of the Greater Schiehallion Area and the new development will consist of two wells which will be tied back into the existing Schiehallion and Loyal subsea infrastructure, using the processing and export facilities of the Glen Lyon floating, production storage, offload (FPSO) vessel.

READ MORE: New BP field to produce 30,000 barrels a day

BP North Sea regional president Ariel Flores said: “We announced our intention to develop Alligin in April and six months later we have achieved regulatory approval.

“Always maintaining our focus on safety, we are modernising and transforming how we work in the North Sea to fully realise the potential of our portfolio.

“Alligin is part of our advantaged oil story, rescuing stranded reserves and tying them back into existing infrastructure.

“Developments like this have shorter project cycles, allowing us to bring on new production quicker. These subsea tiebacks complement our major start-ups and underpin BP’s commitment to the North Sea.”

Alligin is operated by BP with Shell as a joint venture partner.

Brenda Wyllie, West of Shetland and Northern North Sea area manager at OGA, said: “The Oil and Gas Authority is pleased to consent to the development of the Alligin field.

“This fast-tracked project will maximise economic recovery through utilising capacity in the Glen Lyon FPSO and is a good example of the competitive advantage available to operators from the extensive infrastructure installed in the UKCS.”

This is BP’s second North Sea development approval in the past two months.

[maywillow] 21/10/2018 08:34

BP CEO: $80 Oil Is Unhealthy For The World
By Tsvetana Paraskova - Oct 20, 2018, 11:59 PM CDT BP

Oil prices at $80 a barrel are too high and unhealthy for the world today, Bob Dudley, the chief executive of UK supermajor BP, said on the sidelines of an event on Friday.

“There’s a healthy price for oil and energy and I believe that balances producing countries and consuming countries,” Quartz quoted Dudley as saying on the sidelines of the conference One Young World in The Hague.

“In my mind, it’s somewhere between $50 and $65 a barrel. The world can live with this,” Dudley noted.

Emerging and developing economies like India, South Africa, or Turkey are seeing their highest-ever prices of gasoline because their currencies have rapidly depreciated against the U.S. dollar and because oil prices in dollars are high, BP’s chief executive said.

Currently, oil prices are “artificially high” due to Venezuela “defying gravity” and to the U.S. sanctions on Iran, according to Dudley, who said that once those geopolitical events subside, fundamentals will return to rule the market and prices should return back to $60-$65 a barrel.
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BP won’t be joining any EU special purpose vehicle designed to keep trade with Iran flowing, Dudley stressed, noting that “I think it’s full of risk.”
Related: What Killed The Oil Price Rally?

The concerns of BP’s chief executive that $80 oil is unhealthy for the world are shared by major international organizations such as the International Energy Agency (IEA) and the International Monetary Fund (IMF).

Expensive energy is back and it is threatening global economic growth, the IEA said in its Oil Market Report last week.

Also last week, the IMF slightly downgraded its projection for global growth for this year and next—at 3.7 percent, growth is now expected 0.2 percentage point lower than IMF’s forecast from April this year. The key reasons for the downgrade included trade disputes, geopolitical tensions, and a weaker outlook for emerging economies due to higher oil import bills, among other factors, according to the IMF.

By Tsvetana Paraskova for Oilprice.com

[waldron] 19/10/2018 17:11

Total
52.83 +0.06%


Engie
11.735 +0.47%

Orange
14.05 +0.72%


FTSE 100
7,049.8 +0.32%
Dow Jones
25,455.4 +0.30%
CAC 40
5,084.66 -0.63%




Brent Crude Oil NYMEX 80.36 +1.32%
Gasoline NYMEX 1.92 +1.64%
Natural Gas NYMEX 3.22 -0.12%



BP
557.5 +0.54%



Shell A
2,521 +1.33%


Shell B
2,569 +1.46%

[grupo] 19/10/2018 16:43

AS ARE MANY OTHER COUNTRIES

AUSTRALIA COMES TO MIND

[ianood] 19/10/2018 16:40

Yet Germany is still commissioning coal fired power stations!

[grupo] 19/10/2018 11:52

BP: Proportion of coal in global fuel mix remains unchanged over 20 years
19 October 2018 13:54 (UTC+04:00)

Baku, Azerbaijan, Oct.19

By Leman Zeynalova – Trend:

Proportion of coal in the global fuel mix has remained unchanged over 20 years, Bob Dudley, group chief executive of BP, said during the One Young World Summit.

“We can expect energy demand to rise by around a third by 2040. That’s like adding a whole new China and a whole new Europe’s worth of energy demand on top of what’s required today,” he said.

Dudley said that’s an enormous challenge – and it’s only half the story.

“The other half is that we need to bring greenhouse gas emissions down dramatically and quickly to tackle the threat of climate change,” he said.

The group chief executive of BP pointed out that after three years when emissions stayed relatively flat they started going up again last year and they look set to rise again this year.

“Projections indicate they could grow by around 10 percent by 2040 when they need to fall by half to be in line with the Paris climate goals. In a report looking at what would be required to keep the temperature rise to 1.5 degrees on pre-industrial times it said emissions need to come down by 45 percent by 2030.”

“So, on the one hand we’ve got to provide much more energy than ever before. And on the other we have to lower emissions drastically,” he said.

Dudley noted that back in 1998, coal made up 38 percent of the global fuel mix in the power sector and the same figure was recorded in 2017.

“So in 20 years, despite all the policy initiatives, all the industry collaboration, all the technological innovation – our world still relies on the same proportion of coal for its electricity,” he said. “That’s a problem, but it’s also an opportunity. It means we can make a huge difference at speed on emissions and we already have the evidence that it works.”

He went on to add that in the US, replacing coal with gas in power generation has helped bring emissions back down to where they were in the early 1990s.

“In the UK the change is even more dramatic. Emissions are back where they were in the 1890s, when Queen Victoria was on the throne. Gas has made a big contribution to those reductions because it emits half the carbon of coal when burned to produce power,” said Dudley.

The group chief executive of BP noted that the company is committed to advancing a low carbon future. “The whole of the company is dedicated to it. We’re reducing emissions in our operations. We’re improving our products so our customers can reduce theirs. And we’re creating low carbon businesses.”

---

Follow the author on Twitter: @Lyaman_Zeyn

[ps0u3165] 19/10/2018 07:16

BP said on Thursday that it had started up ahead of schedule its Thunder Horse Northwest Expansion project in deepwater Gulf of Mexico, adding 30,000 bpd to the Thunder Horse oil production at peak and taking the total field production to more than 200,000 bpd.

The project comes online four months ahead of the original start-up date in early 2019, and is completed 15 percent below budget, BP said, without quantifying its investment in the project.

[ariane] 18/10/2018 17:27

Home > News > BP delivers Thunder Horse expansion under-budget and ahead of schedule
BP delivers Thunder Horse expansion under-budget and ahead of schedule
10/18/2018

HOUSTON – BP announced that it has started up the Thunder Horse Northwest Expansion project in the deepwater Gulf of Mexico, four months ahead of schedule and 15% under budget.

This is the fourth Upstream major project to begin production for BP globally so far this year, following seven that started up in 2017 and six in 2016. BP expects that new projects beginning production between 2016 and 2021, part of its strategic focus on growing gas and advantaged oil production, will provide it with 900,000 boed of new production by 2021.

Bernard Looney, BP’s upstream chief executive said: “Our business in the GOM demonstrates our upstream strategy in action. Leveraging our world-class position and facilities, we are bringing new bbl online rapidly and efficiently, and uncovering more opportunities nearby. We are focused on growing value and these projects in the Gulf are competitive with any opportunities we have worldwide. This is what we mean by growing advantaged oil.”

The new project is expected to boost production at Thunder Horse by an estimated 30,000 boed at its peak, taking gross output at one of the largest oil fields in the GOM to over 200,000 boed. Originally planned for start-up in early 2019, the project is the latest sign of BP’s continued momentum in the U.S. offshore region.

“This latest expansion of Thunder Horse is another important milestone in our efforts to maximize value from our assets in the gulf,” said Starlee Sykes, regional president of BP’s GOM and Canada business. “Over the past five years we’ve driven up production through safe and reliable operations and bringing on new deepwater projects in a more efficient and standardized way. All this hard work is now delivering results. Our GOM business is thriving.”

The project, which achieved first oil just 16 months after being sanctioned, adds a new subsea manifold and two wells tied into existing flowlines two miles to the north of the Thunder Horse platform.

It comes after two other major field expansions at Thunder Horse in recent years. In 2017, an expansion of Thunder Horse’s south field – a four well tie-back to the floating hub – boosted gross production at the field by over 50,000 boed. The year before, BP started up a major water injection project at Thunder Horse to further enhance oil production at the field.

Developed with partner ExxonMobil, the Thunder Horse platform sits in more than 6,000 ft of water and began production in June 2008. It has the capacity to handle 250,000 gross bo and 200 million gross cfgd.

In the deepwater GOM, BP operates four large production platforms – Thunder Horse, Atlantis, Mad Dog and Na Kika – and holds interests in four non-operated hubs – Mars, Olympus, Ursa and Great White.

Over the last five years, BP’s net average daily production in the GOM has increased from under 200,000 boed in 2013 to over 300,000 boed and is set to grow further with the addition of the Mad Dog Phase 2 platform in 2021 and other upcoming projects.

[waldron] 18/10/2018 17:09

Total
52.8 -1.23%


Engie
11.68 -0.60%

Orange
13.95 +1.12%

FTSE 100
7,026.99 -0.39%
Dow Jones
25,449.97 -1.00%
CAC 40
5,116.79 -0.55%


Brent Crude Oil NYMEX 79.64 -0.83%
Gasoline NYMEX 1.90 -1.11%
Natural Gas NYMEX 3.24 -2.17%


BP
554.5 -0.68%


Shell A
2,488 -0.28%


Shell B
2,532 -0.67%

[gbh2] 18/10/2018 12:55

No mention of the 40% of employees that are on minimum pay or the ever growing number on zero hour contracts mainly due to Greed at the Top!

[waldron] 17/10/2018 17:02

Total
53.46 -0.67%


Engie
11.75 -0.68%

Orange
13.795 +0.69%

FTSE 100
7,054.6 -0.07%
Dow Jones
25,624.15 -0.68%
CAC 40
5,144.95 -0.54%


Brent Crude Oil NYMEX 79.92 -2.07%
Gasoline NYMEX 1.92 -3.08%
Natural Gas NYMEX 3.26 +0.31%



BP
558.3 -0.32%


Shell A
2,495 -0.40%


Shell B
2,549 +0.14%

[hellscream] 16/10/2018 20:42

would the ftse be down 30 if the dow was down 500?

[waldron] 16/10/2018 17:03

Total
53.82 +0.50%


Engie
11.83 +0.68%

Orange
13.7 +0.48%


FTSE 100
7,059.4 +0.43%
Dow Jones
25,629.15 +1.50%
CAC 40
5,173.05 +1.53%

Brent Crude Oil NYMEX 80.77 -0.05%
Gasoline NYMEX 1.96 +0.85%
Natural Gas NYMEX 3.25 -0.46%



BP
560.1 +0.13%


Shell A
2,505 +0.22%


Shell B
2,545.5 +0.16%

[aussiedonnie] 16/10/2018 09:52

Stock Market Crash, Global Reset, Masonic 33, and November 2018 - Important!