Bp Share Discussion Threads

[sarkasm] 17/12/2018 15:07

BP PLC (BP.LN) said Monday that it has signed an agreement with Angola's national oil company to further develop its activities in the country.

The company said it agreed with Sonangol to take a final investment decision for the Platina field in the second quarter of 2019, with first oil in late 2021 or early 2022. The Platina field was discovered in 1999 and is at a water depth of around 1,300 meters.

BP and Sonangol also agreed to extend a production license for the Greater Plutonio project to 2032, and for Sonangol to take an 8% stake in the project, the British energy major said.

The two companies signed memoranda of understanding regarding potential future access and exploration offshore Angola, as well as cooperation in a new crude terminal and storage facility in the country, BP said.



Write to Carlo Martuscelli at [e-mail]



(END) Dow Jones Newswires

December 17, 2018 08:54 ET (13:54 GMT)

[sarkasm] 17/12/2018 14:48

Oliver Haill
WebFG News
17 Dec, 2018 14:30
BP shakes hands with Angola on further development plans
luanda12
Luanda, Angola

BP and Angola's state oil company expect to make the final investment decision on what will be the east African country's first new project in over five years.
BP
508.60
14:32:46 17/12/18
-0.80%
-4.10
FTSE 100
6,791.86
14:32:46 17/12/18
-0.78%
-53.54
FTSE 350
3,750.86
14:32:46 17/12/18
-0.83%
-31.45
FTSE All-Share
3,702.79
14:32:46 17/12/18
-0.81%
-30.28

On Monday in Luanda, BP and Sonangol agreed to extend the production licence to 2032 for the BP-operated Greater Plutonio project on the Block 18 of the Platina field, subject to government approval. Sonangol will also take an 8% equity interest in the block, which is 50-50% owned between BP and Sonangol Sinopec, Angola's joint venture with China's Sinpoec.

BP and Sonangol also agreed to try and come to a final investment decision in the second quarter of 2019, ahead of first oil being expected no later than the first quarter of 2022.

Sonangol chairman Carlos Saturnino and BP chief executive Bob Dudley also signed two further memorandums of understanding regarding potential further access and exploration offshore Angola and co-operation in a planned new products and crude terminal and storage facility in Angola.

Under one agreement, the pair agreed to further discuss other exploration activities in Blocks 31 and 18, to enter discussions for Blocks 46 and 47, and to explore options in Block 18/15.

The other MOU enables the pair to enter discussions regarding financing and construction of the planned terminal and storage facility at Barra do Dande in Bengo province, which is roughly 30 kilometres north of Luanda.

BP's Angolan business, which has interest in six offshore deep and ultra-deepwater blocks, produced an average 211,000 barrels of oil per day net in 2017.

[the grumpy old men] 16/12/2018 18:22

Big Oil Is Better Prepared For The Next Price Crash
By Tsvetana Paraskova - Dec 16, 2018, 12:00 PM CST
Join Our Community
offshore

The six largest international oil companies have shored up profits and cash flows this year, reporting incomes at their highest levels since the 2014 oil price crash. Cost cuts, conservative price assumptions in spending plans, and investment cherry-picking has paid off.

Now the six biggest of Big Oil—Exxon, Chevron, Shell, BP, Total, and Eni--are in a good place to remain resilient at $60 a barrel Brent Crude, thanks to diversified and robust portfolios, according to ratings agency S&P Global Ratings.

Even when oil prices hit four-year highs in October, the largest publicly traded international oil companies didn’t change their underlying price assumptions for future investment in projects—they continue to conservatively plan for a world of oil prices at $50 to $60.

“Supermajors and these guys, the big players, the IOCs, they reckon they can break even with Brent at $50 (per barrel),” Simon Redmond, senior director of corporate ratings at S&P Global Ratings, told CNBC this week.

“So, whether its $65 or $60, they’re looking pretty good. And they should be able to generate meaningful cash flow,” Redmond said, singling out Exxon and Shell as the two majors with the strongest profiles.

In October, when Brent Crude hit $86 a barrel, oil majors didn’t get carried away like some analysts who started talking about a return of $100 oil.

Big Oil reaffirmed that their base-case project planning scenarios continue to be in the $55-65 range and that they can break even at around $50 Brent Crude price or even below.

“As oil prices stay up over $50 a barrel, we will be surplus free cash as we go into 2020, and 2021. And, of course, we have said our breakeven goes down to $35-40 a barrel by the end of 2021, unless we chose to distribute to shareholders,” BP’s CFO Brian Gilvary said on the Q3 earnings webcast.
Related: Saudi Arabia Under Fire From All Sides

Answering an analyst question at what oil price BP is basing its plans, Gilvary said that this year the company set that at $55 a barrel.

“We run those cases at $50 and $75 a barrel. And at $75 a barrel real over a very long period of time, and $50 is the base case that we run everything at. That’s how we look at our projects,” Gilvary noted.

Total said in its strategy presentation in September that it had more than halved its post-dividend breakeven to $50 a barrel now, compared to 2014.

Shell is aiming for its projects to be able to break even at $40 oil, CFO Jessica Uhl said at the Q3 earnings call.
Oilprice.com
The most vital industry information will soon be
right at your fingertips

Join the world's largest community dedicated entirely to energy professionals and enthusiasts
Join Today

Eni has halved its cash neutrality point—the point at which it will be able to fund capex and dividend—from $114 a barrel in 2014 to $57 a barrel. In the Q3 earnings release, Eni confirmed its cash neutrality for 2018 is at $55 per barrel oil.

Big Oil’s project and profitability estimates may be put to the real test next year, as oil prices slumped by around 30 percent from early October highs, with Brent currently sitting just above $60.

OPEC and allies’ deal to curtail production again may have put a soft floor under oil prices, but it has definitely failed to impress the market. Analysts have recently slashed projections for oil prices for 2019.

Earlier this week, Morgan Stanley lowered its Brent Crude price forecast for 2019 by US$10 a barrel to US$68.50.

S&P Global Ratings sees Brent at $65 next year and at $55 in the longer term, and expects WTI at $60 in 2019.

Related: No, The U.S. Is Not A Net Exporter Of Crude Oil

In its December Short-Term Energy Outlook (STEO), the EIA slashed its 2019 price forecasts for Brent and WTI to $61 and $54, respectively—both $11 a barrel lower than forecast in the November STEO.

“EIA expects that the magnitude of the recent price declines combined with the OPEC production cuts will bring 2019 supply and demand numbers largely into balance, which EIA forecasts will keep prices near current levels in the coming months,” it said.

Market volatility in November was the largest since 2012 for Brent and the largest since 2014 for WTI. The implied volatility more than doubled in November in a sign of the growing uncertainty in the market about future supply and demand, according to the EIA.

Amid uncertainties and market volatility, oil majors expect to continue churning in profits even at $50 Brent. We may see their resilience tested next year.

By Tsvetana Paraskova for Oilprice.com

[sarkasm] 16/12/2018 08:48

BP invests $12bn in two new energy projects

by
Renuka Singh
17 hours ago
Sat Dec 15 2018

An agree­ment be­tween BP T&T (bpTT) and the Gov­ern­ment will see the en­er­gy com­pa­ny in­vest­ing some US$1.8 bil­lion (TT$12 bn) in two new en­er­gy projects.

The agree­ment, signed on Fri­day, en­tailed the ex­ten­sion of the South East Ga­le­o­ta Ex­plo­ration & Pro­duc­tion li­cence and will al­so see bpTT be­gin the off­shore in­vest­ments of the Cas­sia Com­pres­sion Project as well as the Mat­a­pal Gas Project. The Mat­a­pal Gas Project is ex­pect­ed to de­vel­op the gas re­sources dis­cov­ered by bpTT in 2017.

The sign­ing of the agree­ment was wit­nessed by Prime Min­is­ter Dr Kei­th Row­ley, Min­is­ter of En­er­gy and En­er­gy In­dus­tries Franklin Khan and Re­gion­al Pres­i­dent of bpTT Claire Fitz­patrick, at the Of­fice of the Prime Min­is­ter in St Clair.

The sign­ing of the agree­ment con­clud­ed the first phase of this coun­try’s ne­go­ti­;a­tions with bpTT for fu­ture gas pro­duc­tion and projects in T&T.

Min­is­ter of Na­tion­al Se­cu­ri­;ty, Com­mu­ni­ca­tions and Min­is­ter in the Of­fice of the Prime Min­is­ter Stu­art Young, Chief Op­er­at­;ing Of­fi­cer, Glob­al Up­stream Re­gions at BP William Lin, Head of Plan­ning and Com­mer­cial Fi­nance at bpTT Richard Eaton and bpTT’s Man­ag­ing Coun­sel, Wendy Fae Thomp­son were al­so present at the sign­ing.

Back in March, Mc­Der­mott In­ter­na­tion­al, Inc an­nounced that it was award­ed a de­tailed en­gi­neer­ing and long lead pro­cure­ment ser­vices con­tract from bpTT for the Cas­sia C Com­pres­sion Plat­form.

Mc­Der­mott’s was al­so award­ed the con­tract for the en­gi­neer­ing, pro­cure­ment, con­struc­tion, in­stal­la­tion and com­mis­sion­ing (EP­CIC) con­tract for the An­gelin project by bpTT last year.

The Cas­sia C Com­pres­sion project, ac­cord­ing to in­for­ma­tion on Mc­Der­mott’s web­site, in­cludes a new un­manned com­pres­sion plat­form for the ex­ist­ing Cas­sia com­plex. The fa­cil­i­;ty is ex­pect­ed to pro­vide gas com­pres­sion to the Cas­sia com­plex through a new bridge con­nect­ed to Cas­sia B.

Cas­sia C is bpTT’s third Cas­sia plat­form.
Tagged in:

Written by
Renuka Singh

Guardian Media is the premier provider of multimedia solutions and authoritative insight on news, politics, business, finance, sports, and current affairs. Our brand portfolio includes CNC3, Guardian and the TBC Radio Network.

[k38] 15/12/2018 02:29

https://petition.parliament.uk/petitions/229963

[waldron] 14/12/2018 17:37

Total
49.1 +0.33%


Engie
12.905 +1.02%

Orange
14.54 -0.38%

FTSE 100
6,845.17 -0.47%
Dow Jones
24,160.19 -1.78%
CAC 40
4,853.7 -0.88%


Brent Crude Oil NYMEX 60.29 -1.89%
Gasoline NYMEX 1.44 -2.74%
Natural Gas NYMEX 3.89 -5.67%

WTI - 14/12 18:17:07
51.15 USD -3.13%



BP
512.7 -0.29%


Shell A
2,342.5 +0.06%

Shell B
2,358 -0.17%

[waldron] 13/12/2018 18:02

Total
48.94 +0.97%


Engie
12.775 +0.99%

Orange
14.595 -1.22%


FTSE 100
6,877.5 -0.04%
Dow Jones
24,527.25 +0.00%
CAC 40
4,896.92 -0.26%


Brent Crude Oil NYMEX 60.73 +0.96%
Gasoline NYMEX 1.45 +2.12%
Natural Gas NYMEX 4.18 +1.02%

WTI - 13/12 18:41:05
51.92 USD +1.15%

BP
514.2 -0.45%


Shell A
2,341 -0.32%


Shell B
2,362 -0.19%

[wbecki] 13/12/2018 17:38

Red wine as a side?

Gym tuesday isnt soon enough!!!! :)

[optomistic] 13/12/2018 17:04

Nicely refreshed, now for some rib-eye steak :-))

[waldron] 13/12/2018 15:54

Thursday 13 December 2018 3:42pm
FTSE dividend payments to hit record £94bn next year and yields boosted by market drop
Share


Callum Keown
Reporter at City A.M. covering markets and exchanges, pharmaceuticals, science, [..] Show more
Follow Callum

Markets Nervous Amid Fears
FTSE 100 dividend payments set to reach record high (Source: Getty)

FTSE 100 dividend payments could hit record highs of £94bn next year while falling markets have increased yields, tempting investors and keeping the index stable amid political uncertainty.

A difficult autumn for the markets with shares falling has seen the forecast dividend yield for the blue chip index rise to 4.9 per cent for 2019, according to AJ Bell.

The investor platform’s analyst Russ Mould said the “tempting̶1; yields would provide support for UK stocks among the “maelstrom of political uncertainty.”

Housebuilder Taylor Wimpey could offer the highest yield of 13.1 per cent, followed by coal and steel miner Evraz - 12.1 per cent - and Persimmon at 11.8 per cent.

Barratt Developments could return yields of 9.6 per cent, as three housebuilders appeared in the top ten of AJ Bell’s analysis.

Mould said: “Such a fat yield looks extremely tempting compared to the Bank of England’s 0.75 per cent base rate for cash and the 1.23 per cent yield on benchmark UK ten-year Gilt.

“The presence of three house builders in the top ten is testimony to the size of their capital return programmes, but it may also hint at investor scepticism that the industry can maintain its current lofty levels of profitability without the benefit of Government assistance, via the Help to Buy and Lifetime ISA schemes.”

But the research raised concerns over Standard Life Aberdeen, whose long streak of dividend increases could end next year and Vodafone, where the shareholder distribution may not grow for the first time in two decades.

More than half of the £93.7bn paid out to shareholders will come from just ten firms, with Shell, HSBC, BP, and British American Tobacco accounting for 34 per cent of forecasted payments.

[optomistic] 13/12/2018 15:31

Having a pint now,got to rebuild ☺ next gym Tuesday.

[bracke] 13/12/2018 14:59

Good day Penycae

Hmmmm. A distinct lack of will power.

What you need is some form of back stop to stop the back sliding but its got to be binding none of this 'mamby pamby' maybe business.

[penycae] 13/12/2018 14:44

Crude moving up Stateside, so the planets are starting to line up.
I used to go the gym, but I could never get past the vending machines in the lobby.
Gave all that up, and started to walk the dog. That went well for a few weeks, until the breakfast bar arrived. The rest, as they say, is history.

[bracke] 13/12/2018 14:14

optomistic


"surplus energy"
==================

You should be so lucky!

[optomistic] 13/12/2018 14:02

Good afternoon bracke, apologies for the delay but I had to go to the gym to dispel some surplus energy.
Your chart is appreciated and this time easy to follow...too many lines and it confuses me, which is not too difficult to do at my age.
Looking forward to the cycle starting all over again as it surely must :-)

[bracke] 13/12/2018 11:43

Good day optomistic

I would not want to explain the reasons for the share price price action but you will see from the chart there is a relationship in price movement with the oil price. It's interesting to go back in time with the chart and see how the macro changes but the day to day relationship remains.

BP. had an excellent run up from 460 in April to 600 in October, a 30% rise. There comes a time when the institutions want to take profits. If you still follow AHT that is another example. At some point the share price drops to a level where buyers come in and all things being equal, the cycle starts again. Such is life.

BP/BRENT DAILY - BP. is the Orange line

[penycae] 13/12/2018 09:32

Morning all.

Bought a few at 507.90.
Off for a bacon sarnie with the dog. Cold and grey here. Christmas this weekend at Penycae Towers. All the family coming home early. Only time we can get together.
Nothing ever cast in stone, not even Christmas day!

Trade well and prosper......

[optomistic] 13/12/2018 09:11

diku, but when such as BP. are yielding 6%+ how can income funds ignore them? and no buybacks recently.

[diku] 13/12/2018 09:06

Some of these mega caps are all on a downtrend...look at banks/Insurance...just get the feeling the entire market could be on course for a capitulation...

[optomistic] 13/12/2018 08:47

What's happening here with BP? these sort of moves seen over the last days usually herald bad news, I haven't seen anything anywhere to justify the fall.

[waldron] 12/12/2018 17:05

Total
48.47 +1.48%


Engie
12.65 +3.18%

Orange
14.775 +1.23%


FTSE 100
6,880.19 +1.08%
Dow Jones
24,669.46 +1.23%
CAC 40
4,909.45 +2.15%

Brent Crude Oil NYMEX 61.00 +1.33%
Gasoline NYMEX 1.46 +1.10%
Natural Gas NYMEX 4.19 -4.99%

WTI - 12/12 17:45:59
52.31 USD +0.58%



BP
516.5 -0.06%


Shell A
2,348.5 +0.43%


Shell B
2,366.5 +0.70%

[hellscream] 12/12/2018 16:46

all other oil majors up?

[waldron] 11/12/2018 17:30

Total
47.765 +0.90%


Engie
12.26 +2.25%

Orange
14.595 +0.69%


FTSE 100
6,806.94 +1.27%
Dow Jones
24,462.16 +0.16%
CAC 40
4,806.2 +1.35%

WTI 51.63 +1.37%

Brent Crude Oil NYMEX 60.29 +0.53%
Gasoline NYMEX 1.43 +0.78%
Natural Gas NYMEX 4.38 -3.59%


BP
516.8 +1.51%


Shell A
2,338.5 +0.93%


Shell B
2,350 +0.99%