Bp Share Discussion Threads

[waldron] 26/11/2018 17:13

Total
48.3 +1.50%


Engie
12.44 +2.89%

Orange
14.89 +1.74%

FTSE 100
7,036 +1.20%
Dow Jones
24,551.42 +1.09%
CAC 40
4,994.98 +0.97%

Brent Crude Oil NYMEX 60.66 +3.16%
Gasoline NYMEX 1.44 +4.30%
Natural Gas NYMEX 4.18 -3.95%


BP
524.8 +2.38%


Shell A
2,363.5 +2.74%

Shell B
2,400 +2.89%

[florenceorbis] 25/11/2018 19:48

A Gamechanger In European Gas Markets?
Profile picture for user Tyler Durden
by Tyler Durden
Sun, 11/25/2018 - 13:00
1

Authored by Irina Slav via Oilprice.com,

The Southern Gas Corridor on which the European Union is pinning most of its hopes for natural gas supply diversification away from Russia is coming along nicely and will not just be on schedule, but it will come with a price tag that is US$5-billion lower than the original budget, BP’s vice president in charge of the project told S&P Global Platts this week.

"Often these kinds of mega-projects fall behind schedule. But the way the projects have maintained the schedule has meant that your traditional overspend, or utilization of contingency, has not occurred," Joseph Murphy said, adding that savings had been the top priority for the supermajor.

The Southern Gas Corridor will carry natural gas from the Azeri Shah Deniz 2 field in the Caspian Sea to Europe via a network of three pipelines: the Georgia South Caucasus Pipeline, which was recently expanded and can carry 23 billion cubic meters of gas; the TANAP pipeline via Turkey, with a peak capacity of 31 billion cubic meters annually; and the Trans-Adriatic Pipeline, or TAP, which will link with TANAP at the Turkish-Greek border and carry 10 billion cubic meters of gas annually to Italy.

TANAP was commissioned in July this year and the first phase of TAP is expected to be completed in two years, so Europe will hopefully have more non-Russian gas at the start of the new decade. But not that much, at least initially: TANAP will operate at an initial capacity of 16 billion cubic meters annually, of which 6 billion cubic meters will be supplied to Turkey and the remainder will go to Europe. In the context of total natural gas demand of 564 billion cubic meters in 2020, according to a forecast from the Oxford Institute for Energy Studies released earlier this year, this is not a lot.

Yet at some point the TANAP will reach its full capacity and hopefully by that time, TAP will be completed. Surprisingly, it was the branch to Italy that proved the most challenging, and BP’s Murphy acknowledged that. While Turkey built TANAP on time to the surprise of the project operator, TAP has been struggling because of legal issues and uncertainty after the new Italian government entered office earlier this year.

At the time, the government of Giuseppe Conte said the pipeline was pointless but, said Murphy, since then he has accepted the benefits the infrastructure would offer, such as transit fees. And yet local opposition in southern Italy remains strong but BP still sees first deliveries of gas through Italy in 2020.

The BP executive admitted that at first the Southern Gas Corridor wouldn’t make a splash.

"The 10 Bcm/year into Europe is not a game-changer from a volume point of view, but it is a game-changer from a new source of product into mainland Europe perspective and it can be expanded."

Meanwhile, however, Russia and Turkey are building another pipeline, Turkish Stream, that will supply gas to Turkey and Eastern Europe, as well as possibly Hungary. The two recently marked the completion of its subsea section. Turkish Stream will have two lines, each able to carry up to 15.75 billion cubic meters. One will supply the Turkish market and the other European countries.

In this context, the Southern Gas Corridor seems to have more of a political rather than practical significance for the time being, giving Europe the confidence that it could at some future point import a lot more Caspian gas because the infrastructure is there.

[florenceorbis] 25/11/2018 14:51

Miners generally were weighing on the FTSE 100 index amid weaker metal prices, with Rio Tinto down 3.3%, Evraz down 3.8%, Anglo American down 4.5%, Glencore down 3.5%, and Antofagasta down 2.0%.

Gold was lower quoted at USD1,222.80 from USD1,227.52 late Thursday.

Royal Dutch Shell B shares closed down 3.8% and its A shares were down 2.2% as the price of oil continues to slip.

Oil producers dropped to the bottom of the FTSE 250 as well, with the worst performer Premier Oil, closing down 11%. Tullow Oil ended down 6.3% and Cairn Energy ended down 7.0%, while oil and gas industry services provider Petrofac closed down 4.5%.

Brent was quoted at USD58.78 a barrel at the London equities close, down from USD62.70 at the close on Wednesday. Brent is down 12% this week and 27% this month.

IG's Chris Beauchamp said: "While oil is stealing the headlines, a stronger US dollar continues to put pressure on commodities, while weaker expectations of economic growth are doing their part as well. Miners and oil stocks are near the bottom of the FTSE 100, and even gold miners are hard hit."

Fellow oil major BP, which ended down 2.4%, delivered first oil production from the Clair Ridge project in the West of Shetland region, offshore the UK.

The Clair Ridge is operated by BP, which holds a 29% interest in the project. Shell holds a 28% stake in the project, with ConocoPhillips and Chevron North Sea, part of Chevron, holding 24% and 19%, respectively.

The project has been designed to recover an estimated 640 million barrels of oil with production expected to ramp-up to a peak at plateau level of 120,000 barrels of oil per day.

[waldron] 23/11/2018 17:06

Total
47.585 -3.01%


Engie
12.09 -0.45%

Orange
14.635 -0.07%

FTSE 100
6,952.86 -0.11%
Dow Jones
24,403.55 -0.25%
CAC 40
4,946.95 +0.18%

Brent Crude Oil NYMEX 58.83 -6.05%
Gasoline NYMEX 1.38 -6.25%
Natural Gas NYMEX 4.48 +5.88%


BP
512.6 -2.40%


Shell A
2,300.5 -3.48%


Shell B
2,332.5 -3.83%

[ariane] 23/11/2018 15:55

BP begins pumping oil from west of Shetland
By National Newsdesk
The new development is the second phase of the Clair field

The new development is the second phase of the Clair field

ENERGY giant BP has used technology designed to maximise oil production offshore for the first time, as it began pumping oil from a new development west of Shetland.
2 comments

The firm hopes to be able to get 640 million barrels of oil from the Clair Ridge, with production expected to peak at 120,00 barrels a day.

The new development is the second phase of the Clair field, which was discovered just over 40 years ago with an estimated seven billion barrels of reserves.

READ MORE: BP given go-ahead to develop North Sea oil field

To get the oil from the site, which is 75 kilometres west of Shetland, BP used its enhanced recovery technology for the first time offshore.

The technique involved is called "LoSal", with the energy firm having estimated its use could result in up to 40m additional barrels being removed over the lifetime of the project.

Two new oil platforms, which are linked by a bridge, with pipelines to take away the oil and gas have been installed there, with BP having invested more than £4.5 billion there.

Bernard Looney, BP chief executive upstream, said: "The start-up of Clair Ridge is a culmination of decades of persistence.

"Clair was the first discovery we made in the west of Shetland area in 1977. But trying to access and produce its seven billion barrels proved very difficult. We had to leverage our technology and ingenuity to successfully bring on the first phase of this development in 2005.

READ MORE: Letters: Scotland is not reliant on England for energy

"And now more than 40 years after the original discovery, we have first oil from Clair Ridge, one of the largest recent investments in the UK.

"This is a major milestone for our opstream business and highlights BP's continued commitment to the North Sea region."

Andy Samuel, the chief executive of industry regulators at the Oil and Gas Authority (OGA), said the production of the first oil from the newly built Clair Ridge platform was a "major milestone" for the UK Continental Shelf (UKCS).

He added: "The OGA continues to view the west of Shetland as strategically important with substantial remaining potential.

"The Clair field has in excess of seven billion barrels in place and is expected to sustain production for many decades to come, with significant scope for further phases of development."

Deirdre Michie, the chief executive of industry body Oil and Gas UK, said Clair Ridge was part of a "frontier region which is likely to have the greatest potential to expand current UK production".

She added: "It's greatly encouraging to see one of the basin's original explorers using new, ambitious approaches and pioneering technology to help lead a revival in production.

"This is another firm step towards maximising economic recovery from the basin."

[tradejunkie2] 23/11/2018 15:35

Fabulous to see the weakness here. Come to papa.


Oil prices slump to nine-month low after seven straight weeks of decline amid supply glut worries

[waldron] 23/11/2018 12:04

Total
48.595 -0.95%


BP
523 -0.42%


Shell A
2,342 -1.74%


Shell B
2,378 -1.96%


Brent Crude Oil NYMEX 61.03 -2.54%
Gasoline NYMEX 1.43 -3.06%
Natural Gas NYMEX 4.31 +1.79%


WHATA BLACK DAY OR JUST VARIOUS SHADES OF GREY

[waldron] 23/11/2018 06:18

BP PLC (BP.LN) said Friday that it has achieved first oil production from the Clair Ridge project in the West of Shetland region in the U.K. North Sea.

The Clair Field was discovered in 1977. The development is the sixth new upstream project to be brought online by BP this year. It will target reserves of 640 million barrels of oil, with a peak production rate of 120,000 barrels of oil a day

Bernard Looney, the chief executive of the company's upstream business, said the Clair Ridge project is "a culmination of decades of persistence" as access to the available oil proved difficult.

BP is the operator of the Clair field where it holds a 28.6% interest. Royal Dutch Shell PLC (RDSB.LN) has a 28% interest, while Chevron North Sea Ltd.--a subsidiary of Chevron Corp. (CVX)--holds a 19.4% interest.

ConocoPhillips (COP) currently holds a 24% interest in the Clair field. However in July BP agreed to buy a ConocoPhillips subsidiary which holds a 16.5% interest in the field. Once the deal completes, BP's interest will be 45.1% and ConocoPhillips will hold a 7.5% stake.

BP said Clair Ridge is the first offshore use of its LoSal technology, which has the potential to increase oil recovery by injecting water of a lower salinity into reservoirs. The company expects its technology to result in an additional 40 million barrels of oil being recovered in a cost-effective manner over the project's lifetime.



Write to Oliver Griffin at [e-mail]; @OliGGriffin



(END) Dow Jones Newswires

November 22, 2018 19:15 ET (00:15 GMT)

[buywell3] 23/11/2018 01:51

So BP and SHELL are buying into Gas and Electricity power generation as OIL drops like a brick towards $50 again


Good luck with that one


Massive capital investment needed for loads of flack and little rewards which is why


Global investment in energy fell for a second consecutive year in 2016, and an international watchdog is ringing alarm bells about future shortages of oil and electricity.

Energy companies and investors last year plowed $1.7 trillion into fossil fuel exploration, new power plants, upgrades to the electric grid and all the other means of powering the world, the International Energy Agency reported Tuesday. That marks a 12 percent drop from 2015, IEA said in its annual World Energy Investment report.

The decline was largely driven by falling oil and gas spending during the second full year of a punishing crude price downturn, as well as falling investment in power generation

[waldron] 22/11/2018 17:13

Total
49.06 -0.71%


Engie
12.145 -1.42%

Orange
14.645 -0.20%

FTSE 100
6,960.32 -1.28%
Dow Jones
24,464.69 +0.00%
CAC 40
4,938.14 -0.75%


THANKSGIVING NOT A NORMAL DAY OR WEEK


Brent Crude Oil NYMEX 62.77 -1.12%
Gasoline NYMEX 1.47 -1.70%
Natural Gas NYMEX 4.21 -5.48%



BP
525.2 -1.04%


Shell A
2,383.5 -1.12%


Shell B
2,425.5 -1.00%

[waldron] 21/11/2018 17:00

Total
49.41 +1.12%


Engie
12.32 +1.32%

Orange
14.675 +0.96%

FTSE 100
7,050.23 +1.47%
Dow Jones
24,631.4 +0.68%
CAC 40
4,975.5 +1.03%


Brent Crude Oil NYMEX 64.01 +2.37%
Gasoline NYMEX 1.52 +2.48%
Natural Gas NYMEX 4.51 -0.20%


BP
530.7 +2.25%


Shell A
2,410.5 +2.27%



Shell B
2,450 +2.34%

[waldron] 20/11/2018 17:00

Total
48.865 -1.38%


Engie
12.16 -0.29%

Orange
14.535 -0.92%

FTSE 100
6,947.92 -0.76%
Dow Jones
24,552.62 -1.86%
CAC 40
4,924.89 -1.21%



Brent Crude Oil NYMEX 63.48 -4.96%
Gasoline NYMEX 1.50 -4.75%
Natural Gas NYMEX 4.49 -4.38%



BP
519 -0.71%


Shell A
2,357 -1.57%


Shell B
2,394 -1.72%

[ariane] 20/11/2018 10:58

1224/5000
LONDON (Agefi-Dow Jones) - The dull performance of BP shares creates a buying opportunity, said Raymond James, who RAISES ITS recommendation on the oil major "online performance" to "outperform".

[waldron] 19/11/2018 17:31

Total
49.55 -0.89%


Engie
12.195 -0.04%

Orange
14.67 +0.07%

FTSE 100
7,000.89 -0.19%
Dow Jones
24,999.21 -1.63%
CAC 40
4,985.45 -0.79%


Brent Crude Oil NYMEX 66.24 -0.78%
Gasoline NYMEX 1.56 -0.55%
Natural Gas NYMEX 4.72 +10.58%



BP
522.7 -0.42%


Shell A
2,394.5 -0.52%


Shell B
2,436 -0.71%

it seems that oil still has an impact on the oil and gas majors than natural gas

[skinny] 19/11/2018 13:39

A reiteration on post 90128 -

Lets not forget this eye on the future :-



and this

.

[ny boy] 19/11/2018 12:38

Best oil play to be in...imho

[la forge] 18/11/2018 08:04

TO BE FRANK

NICE