Bp Share Discussion Threads

[optomistic] 05/2/2019 08:49

One for Bracke...is this the formation of a breakaway gap?

[la forge] 05/2/2019 08:41

BP
539 +3.63%

[la forge] 05/2/2019 08:19

BP PLC (BP.LN) swung to a profit in the fourth quarter of 2018, exceeding analysts' expectations following a strong operating performance across all its business segments.

The London-listed oil company posted $2.72 billion in fourth-quarter replacement cost profit--a figure similar to the net income that U.S. oil companies report--which compared with a replacement cost loss of $583 million in the year-earlier period.

BP said Tuesday that after stripping out one-off items its underlying replacement cost profit for the three months ended Dec. 31 rose to $3.48 billion from $2.11 billion in the fourth quarter of 2017.

A consensus of 20 brokers supplied by BP had forecast underlying replacement cost profit of $2.63 billion.

Total revenue rose 9.8% to $76.89 billion, while operating cash flow for was $7.1 billion.

BP said payments related to the 2010 Gulf of Mexico oil spill for the year were $3.2 billion.

During 2018, the company divested a total of $3.5 billion worth of assets. BP said it plans to complete more than $10 billion worth of divestments over the next two years, including plans following its acquisition of assets from BHP Group PLC (BHP.LN) last year.

BP declared a fourth-quarter dividend of 10.25 cents a share, in line with prior quarters after having hiked its dividend by 2.5% last July, but up from the 10 cents-a-share-dividend in the final quarter of 2017.

The company said it expects underlying production this year to rise above 2018 levels due to new projects. Actual reported production will depend on the exact timing of project start-ups, acquisitions and divestment activities, the company said.



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



(END) Dow Jones Newswires

February 05, 2019 02:41 ET (07:41 GMT)

[penycae] 05/2/2019 08:16

Morning all!

Out at 537.52 from yesterday's paper purchase. Still holding crude longs on cfd's and sb accounts to keep some skin in the game.

Trade well and prosper......

[waldron] 05/2/2019 08:07

BP full-year profit beats expectations on strong oil and gas output
Published an hour ago | Updated 16 min ago
Sam Meredith
@smeredith19




Key Points

The British oil giant said its underlying replacement cost profit, used as a proxy for net profit, came in at $12.7 billion in 2018.
A company-provided consensus forecast had expected full-year underlying replacement cost profit of $11.88 billion.
“This is a really good quarter and, actually, the end of a great year for us,” Bob Dudley, chief executive of BP, told CNBC’s “Squawk Box Europe” on Tuesday.

[waldron] 05/2/2019 08:03

© Irish Examiner Ltd, Linn Dubh, Assumption Road, Blackpool, Cork. Registered in Ireland: 523712.

Home»business
BP sees annual profits more than double

Tuesday, February 05, 2019 - 07:40 AM

BP has seen profits more than double to 12.7 billion US dollars for 2018, following higher oil prices and after it launched a raft of new projects.

The energy giant’s underlying replacement cost profit – BP’s preferred income measure – surged from 6.2 billion US dollars in 2017.

Its fourth quarter underlying earnings also jumped higher despite oil prices easing back at the end of last year, to 3.5 billion US dollars against 2.1 billion US dollars a year earlier.

The FTSE 100 stalwart has been riding the wave of a rebound in the cost of crude in recent years, as has rival Royal Dutch Shell, which last week reported a 36% jump in annual profits.

Our strategy is clearly working and will serve the company and our shareholders well through the energy transition

But BP has also been embarking on a number of new projects, which has been boosting production.

Bob Dudley, group chief executive of BP, said: “We now have a powerful track record of safe and reliable performance, efficient execution and capital discipline.

He added: “Our strategy is clearly working and will serve the company and our shareholders well through the energy transition.”

- Press Association

[waldron] 05/2/2019 07:59

Tuesday 5 February 2019 7:24am
BP more than doubles profit in bumper 2018
Share


James Booth
Reporter covering the legal and insurance sectors. Email stories to james.booth@ [..] Show more
NZ Petrol Prices Continue To Rise Amid Calls For Government To Reverse Petrol Tax
Oil giant BP more than doubles profits (Source: Getty)

Oil major BP’s profit more than doubled in 2018 its fourth-quarter financial results show.

In 2018 BP recorded $9.383bn (£7.19bn) in profit attributable to shareholders, up from $3.389bn in 2017.

Return on average capital was 11.2 per cent compared to 5.8 per cent in 2017.

Operating cash flow for 2018 was $26.1bn, up from $24.1bn the previous year.

Further reading: BP pledges more transparency on climate change

The company made $3.2bn in payments in 2018 in connection with the Gulf of Mexico oil spill.

It made $3.5bn of divestments in 2018 and said it planned more than $10bn in the next two years.

A dividend of 10.25 cents was announced for the fourth quarter, up 2.5 per cent on a year previously.

Chief executive Bob Dudley said: “We now have a powerful track record of safe and reliable performance, efficient execution and capital discipline. And we're doing this while growing the business - bringing more high-quality projects online, expanding marketing in the downstream and doing transformative deals such as BHP. Our strategy is clearly working and will serve the company and our shareholders well through the energy transition.”

[ammu12] 05/2/2019 07:56

Update out from enquest too this morning

[waldron] 05/2/2019 07:19

BP earnings: Full-year profit comes in at $12.7 billion, vs. $11.88 billion expected
Published 17 min ago
Sam Meredith
@smeredith19




Premium EA: BP oil gas station london U.K. 130604
A BP company logo at a gas station in London, U.K.
Chris Ratcliffe | Bloomberg | Getty Images

BP reported stronger-than-anticipated full-year profits on Tuesday, citing a strong operating performance across all business segments.

The British oil giant said its underlying replacement cost profit, used as a proxy for net profit, came in at $12.7 billion in 2018. A company-provided consensus forecast had expected full-year underlying replacement cost profit of $11.88 billion.

“This is a really good quarter and, actually, the end of a great year for us,” Bob Dudley, chief executive of BP, told CNBC’s “Squawk Box Europe” on Tuesday.

This is a breaking news story. Please check back for more.

Market participants saw large gains in energy shares over the first nine months of 2018 largely wiped out by a dramatic decline in crude futures in the fourth quarter.

The value of a barrel of Brent crude soared to a four-year high of $86 a barrel in early October, before collapsing to around $50 within weeks.

Crude futures have hovered around $60 a barrel so far this year.

[waldron] 05/2/2019 07:07

Key events

On 31 October, BP completed the acquisition of BHP's US unconventional oil and gas assets.

On 23 November, BP announced the start-up of the Clair Ridge project. This was the sixth major project to start up in 2018 (BP operator 45.1%, Shell 28%, Chevron 19.4% and ConocoPhillips 7.5%).

On 14 December, BP announced the sanction for two new gas developments offshore Trinidad, Cassia Compression and Matapal.

On 17 December, Sonangol and BP signed an agreement to progress to final investment decision the development of the Platina field in deepwater Block 18, offshore Angola. Sonangol also agreed to extend the production licence for the BP-operated Greater Plutonio project on Block 18 to 2032, subject to government approval, and for Sonangol to assume an equity interest in the block (BP operator 50% and Sonangol Sinopec International Limited 50%).

On 21 December, BP announced final investment decision, subject to regulatory approvals, for Phase 1 of the Greater Tortue Ahmeyim LNG development in Mauritania and Senegal (BP operator 62% in Mauritania and 60% in Senegal).

On 8 January, BP announced sanction of Atlantis Phase 3 development (BP operator 56% and BHP 44%) in US Gulf of Mexico. In addition, two oil discoveries were also announced: Manuel (BP operator 50% and Shell 50%) and Nearly Headless Nick (LLOG operator 26.84%, BP 20.25% and other partners) in the Gulf of Mexico.

On 14 January, BP and Eni signed a heads of agreement with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly towards the award of a new exploration and production-sharing agreement (EPSA) for Block 77 in central Oman (Eni operator 50% and BP 50%).

Outlook

We expect full-year 2019 underlying production to be higher than 2018 due to major projects. The actual reported outcome will depend on the exact timing of project start-ups, acquisition and divestment activities, OPEC quotas and entitlement impacts in our production-sharing agreements*.

We expect first-quarter 2019 reported production to be flat with fourth-quarter 2018 with divestments of assets in the North Sea and Alaska and turnaround and maintenance activities mainly in the high margin Gulf of Mexico region, offset by major project start-ups and the benefit of the BHP assets acquired by BPX Energy.

[waldron] 05/2/2019 07:05

RNS Number : 0431P

BP PLC

05 February 2019


FOR IMMEDIATE RELEASE

London 5 February 2019


BP p.l.c. Group results
Fourth quarter and full year 2018
====================================



For a printer friendly copy of this announcement, please click on the link below to open a PDF version:



Top of page 1


Highlights Building business momentum, growing earnings and returns

-- More than double full-year earnings, near double returns

- Underlying replacement cost profit for full year 2018 was $12.7 billion, more than double that reported for 2017. The fourth quarter result was $3.5 billion, driven by the strong operating performance across all business segments.

- Return on average capital employed was 11.2% compared to 5.8% in 2017.

- Operating cash flow, excluding Gulf of Mexico oil spill payments, for full year 2018 was $26.1 billion, including a $2.6 billion working capital build (after adjusting for inventory holding losses). This compares with $24.1 billion for 2017, which included a working capital release of $2.6 billion.

- Gulf of Mexico oil spill payments in 2018 totalled $3.2 billion on a post-tax basis.

- Total divestments and other proceeds in 2018 were $3.5 billion. BP intends to complete more than $10 billion divestments over the next two years, which includes plans announced following the BHP transaction.

- Dividend of 10.25 cents a share announced for the fourth quarter, 2.5% higher than a year earlier.

-- Record Upstream reliability, record refining throughput

- Operational reliability was very strong in 2018 for both main business segments.

- For the year, BP-operated Upstream plant reliability was a record 96%, and Downstream delivered refining availability of 95% and record refining throughput.

- Reported oil and gas production averaged 3.7 million barrels of oil equivalent a day for 2018. Upstream underlying production, which excludes Rosneft, was 8.2% higher than 2017.

-- Growing the business, advancing the energy transition

- Six Upstream major projects started up in 2018, making a total of 19 brought online since 2016.

- Reserves replacement ratio (RRR) for 2018, including Rosneft, is 100%. Including acquisitions and disposals, RRR is 209%, primarily reflecting the BHP transaction.

- Fuels marketing continued to grow, with over 25% more convenience partnership sites, as well as further retail expansion in Mexico.

- BP set out its approach to advancing the energy transition in 2018, introducing its 'reduce-improve-create' framework and setting clear targets for operational greenhouse gas emissions, towards which it is already making significant progress.

- BP acquired UK electric vehicle charging company Chargemaster and Lightsource BP saw important expansion internationally.





See chart on PDF


Bob Dudley - Group chief executive:
We now have a powerful track record of safe and reliable performance,
efficient execution and capital discipline. And we're doing this while
growing the business - bringing more high-quality projects online, expanding
marketing in the Downstream and doing transformative deals such as BHP.
Our strategy is clearly working and will serve the company and our shareholders
well through the energy transition.

[waldron] 05/2/2019 07:03

European markets seen higher; BP set to report earnings
Published 29 min ago
Sam Meredith
@smeredith19




Key Points

The FTSE 100 is seen 28 points higher at 7,062, the CAC is expected to open up around 13 points at 5,013, while the DAX is poised to start 17 points higher at 11,194, according to IG.
Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday.

European stocks are set to open higher Tuesday morning, as overnight strength on Wall Street underpinned appetite for riskier assets.
European Markets: FTSE, GDAXI, FCHI, IBEX
TICKER COMPANY NAME PRICE CHANGE %CHANGE VOLUME
FTSE FTSE 100 FTSE 7034.13 13.91 0.20 630918085
DAX DAX DAX 11176.58 0.00 0.00 0
CAC CAC CAC 5000.19 0.00 0.00 72849730

The FTSE 100 is seen 28 points higher at 7,062, the CAC is expected to open up around 13 points at 5,013, while the DAX is poised to start 17 points higher at 11,194, according to IG.

Market focus is largely attuned to the latest batch of corporate results, after fourth-quarter earnings helped to push the S&P 500 slightly higher on Monday.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.4 percent — hovering close to a four-month high.

Trading was subdued on Tuesday, with many of Asia’s financial markets closed for the Lunar New Year. China’s financial markets are closed all week, with South Korea’s index set to reopen on Thursday.

Back in Europe, Austria’s AMS, Italy’s Intesa Sanpaolo and Britain’s BP are all expected to release their latest quarterly earnings results on Tuesday morning.

Market participants are also likely to closely monitor the release of Spain’s consumer confidence figures at around 9:00 a.m. London time.

The euro area is scheduled to publish month-on-month retail sales data for December later in the session.

[ariane] 04/2/2019 20:29

04 Feb, 2019 Home Company News Preview

Alexander Bueso
WebFG News
04 Feb, 2019 19:33
Tuesday preview: Services PMI, BP, and Ocado in focus
petrole-etats-unis-gaz-pumpjack-derrick-puits-pompe

The focus on Tuesday will be on a raft of services sector survey results for the UK, US, and Eurozone covering the month of January.

In the case of the UK, expectations are for a slight dip from the prior month reading of 51.2 to 50.9.

It will be the last major economic release before the Monetary Policy Committee meets to decide on policy the following day.

On the corporate front meanwhile, by far the most important of the firms that are due to update markets on Tuesday is BP.

UBS's Jon Rigby sees a possibility that the company will extend its recently provided 2025 free cash flow figure for Upstream to the entire group.

Given recent updates on Upstream, the focus this time is likely to be on the Downstream business, Rigby also said in a research report sent to clients.

Commitments on disposals to reduce the oil major's gearing are also likely, he said.

For the fourth quarter, he had penciled in a 2% year-on-year rise in production, but sequentially production was expected to grow by 7% due to seasonality and following the purchase during the period of the BHP L48 assets.

[ohojim] 04/2/2019 20:00

Only 12 hours to go! Exciting 🤗🤪😜🤗

[waldron] 04/2/2019 17:08

FTSE 100
7,034.13 +0.20%
Dow Jones
25,062.13 -0.01%
CAC 40
5,000.19 -0.38%

Brent Crude Oil NYMEX 62.18 -0.91%
Gasoline NYMEX 1.43 -0.41%
Natural Gas NYMEX 2.67 -2.45%


WTI (WTI)
- 04/02 17:45:00
54.05 USD -2.08%



Eni
14.786 +0.09%


Total
48.09 -0.25%

Engie
13.935 -1.10%

Orange
13.465 -0.96%



BP
520.1 -0.27%


Shell A
2,413 +1.22%

Shell B
2,431 +1.95%

[optomistic] 04/2/2019 16:28

LOL...and never lost for the appropriate words in your answers.

[bracke] 04/2/2019 16:18

Would I ever! Merely giving you support.

[optomistic] 04/2/2019 16:14

Bracke...now you are trying to usurp my optimism :-/

[bracke] 04/2/2019 16:10

Brent support 60.75 then 59.80.

[optomistic] 04/2/2019 15:42

Brent having another go at $62

[ohojim] 04/2/2019 15:39

I guess once a year we have to deal with facts, which may or may not be priced in. But rumour and leakage and tweetage is much more interesting (well, not actually leakage per se), and is what sustains the market for most of the year.