Bp Share Discussion Threads

[waldron] 10/4/2019 17:05

FTSE 100
7,421.91 -0.05%
Dow Jones
26,136.77 -0.05%
CAC 40
5,449.88 +0.25%

Brent Crude Oil NYMEX 71.66 +1.49%
Gasoline NYMEX 2.02 +2.55%
Natural Gas NYMEX 2.71 +0.37%

(WTI) - 10/04 18:43:21
64.58 USD +0.65%


Eni
15.94 +0.33%


Total
50.37 +0.28%


Engie
13.605 +0.18%

Orange
14.68 -1.21%



BP
576.2 +0.38%


Shell A
2,490.5 +0.38%


Shell B
2,511.5 +0.36%

[waldron] 10/4/2019 16:52

BP PLC (BP.LN) has called on its shareholders to reject a climate resolution filed by activist investor Follow This that requests it to set targets for emissions from the consumers of its products.

In the notice of annual general meeting distributed today to shareholders, the BP board opposed the resolution filed by the Netherlands-based group of some 4,600 shareholders that urges oil-and-gas companies to set long-term targets in line with the Paris Agreement.

The British oil-and-gas company said it did not support the resolution because it calls for targets for "Scope 3" emissions that BP said it does not control. Scope 3 emissions are indirect emissions from sources such as capital goods, business travel, franchises and use of sold products--in this case use of fuel by BP's customers.

While BP's competitor Royal Dutch Shell (RDSB.LN) had previously accepted the same resolution and set targets for end-user emissions, BP said setting specific long-term reduction targets is inconsistent with its flexibility.

Quantitative targets, BP said, could significantly inhibit its ability to deliver shareholder value by limiting "future portfolio choices."

"An oil-and-gas company without targets for its products can never prove to be aligned with the Paris Climate Agreement," said Follow This member Mark van Baal.

Climate resolutions remain on the agendas for the AGMs of Equinor ASA (EQNR.OS) and Chevron Corp. (CVX), which Mr. van Baal said have not yet accepted responsibility for the emissions of their products.



Write to Maitane Sardon at [e-mail]



(END) Dow Jones Newswires

April 10, 2019 11:58 ET (15:58 GMT)

[sarkasm] 10/4/2019 10:09

BP P.L.C. NOTICE OF ANNUAL GENERAL MEETING

BP p.l.c. ('the Company') announces that the Notice of Meeting for the BP 2019 Annual General Meeting has been published along with the proxy card and notification of availability. The BP Notice of Meeting 2019 is publicly available via a direct link at www.bp.com/notice.

Copies of the documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.

Copies of all of these documents may also be obtained from:

The Company Secretary's Office

BP p.l.c.

1 St James's Square

London

SW1Y 4PD

Tel: [phone]

The Annual General Meeting will take place at Aberdeen Exhibition and Conference Centre, Scotland on Tuesday 21 May 2019 and will start at 11.00am. The total of the votes cast by shareholders for or against or withheld on each resolution to be put to the meeting will be published on www.bp.com on or shortly before Wednesday 22 May 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

[the grumpy old men] 10/4/2019 10:04

BP P.L.C. NOTICE OF ANNUAL GENERAL MEETING

BP p.l.c. ('the Company') announces that the Notice of Meeting for the BP 2019 Annual General Meeting has been published along with the proxy card and notification of availability. The BP Notice of Meeting 2019 is publicly available via a direct link at www.bp.com/notice.

Copies of the documents have been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.

Copies of all of these documents may also be obtained from:

The Company Secretary's Office

BP p.l.c.

1 St James's Square

London

SW1Y 4PD

Tel: [phone]

The Annual General Meeting will take place at Aberdeen Exhibition and Conference Centre, Scotland on Tuesday 21 May 2019 and will start at 11.00am. The total of the votes cast by shareholders for or against or withheld on each resolution to be put to the meeting will be published on www.bp.com on or shortly before Wednesday 22 May 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

[the grumpy old men] 10/4/2019 10:04

Analyst Broker Ratings
BP plc 13% Potential Upside Indicated by HSBC

Posted by: Charlotte Edwards 10th April 2019

BP plc using EPIC/TICKER code (LON:BP) had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at HSBC. BP plc are listed in the Oil & Gas sector within UK Main Market. HSBC have set their target price at 650 GBX on its stock.

[wolansm] 10/4/2019 09:17

Arm in Aberdeen is that unusual or been done before

[waldron] 09/4/2019 17:04

FTSE 100
7,425.57 -0.35%
Dow Jones
26,206.34 -0.51%
CAC 40
5,436.42 -0.65%


Brent Crude Oil NYMEX 70.75 -0.49%
Gasoline NYMEX 1.97 +0.37%
Natural Gas NYMEX 2.70 -0.44%

(WTI) - 09/04 18:43:28
64.03 USD -0.62%



Eni
15.888 +0.47%


Total
50.23 -0.73%


Engie
13.58 +0.26%

Orange
14.86 +0.30%



BP
574 -0.73%


Shell A
2,481 -0.96%


Shell B
2,502.5 -0.79%

[grupo guitarlumber] 09/4/2019 09:48

Jefferies International Hold reduced from 610.00 to 555.00 Reiterates

[philanderer] 09/4/2019 09:28

Big ;-)

Orders for first Saudi Aramco bond hit $85bn

[ariane] 09/4/2019 08:24

Investomania


Will the BP plc share price rise by another 17%?
Does BP plc (LON:BP) (BP.L) offer further share price growth potential?
April 9, 2019 Robert Stephens BP (LON:BP)
BP plc
BP plc

Since the start of 2019, the BP plc (LON:BP) (BP.L) share price has risen by around 17%. That’s a strong result in my opinion after what had been a challenging final quarter of 2018.

With the oil price having moved higher and investor sentiment being more bullish, could the company’s stock price increase further? Or, are there risks ahead that could lead to a challenging period for the business?
Industry prospects

In my opinion, the prospects for the oil and gas industry continue to be uncertain. There are risks facing a number of major oil-producing nations which could cause an imbalance between demand and supply in the near term. This may lead to volatility in the oil price, which may cause investor sentiment to come under pressure over future months.

Longer term, I feel that the world is gradually moving towards cleaner fuels than gas and oil. This trend has been in place for some time, and its pace may quicken as cleaner alternatives such as electric vehicles improve in terms of range and cost.

That said, I think that oil and gas will continue to be key parts of the energy mix over the long run. I feel that demand for them may remain high, since they are forecast to be key parts of industries such as transportation across the developed and developing world.
Company performance

Recent updates released by BP have been relatively positive in my opinion. The company’s strategy seems to be delivering on its goals, with its upstream and downstream segments operating relatively well. This suggests to me that its strategy is working well, and that it may be moving on financially from the challenges posed by the 2010 oil spill.

With the company continuing to invest heavily in its operations and asset base, I think it could have a bright future. It has a number of projects that are set to come onstream over the medium term. They could act as catalysts on its stock price, and may allow it to continue to outperform the FTSE 100 over the medium term.
Investment potential

Even though the BP share price has risen significantly since the start of 2019, it still offers a margin of safety to my mind. For instance, it has a P/E ratio of 12.2 and a dividend yield of 5.4%. These figures suggest to me that the company could offer good value for money at the moment relative to its industry peers.

Sure, there may be cheaper opportunities elsewhere in the oil and gas industry, but a number of other FTSE 100 and FTSE 250 operators have high levels of debt, as well as more concentrated portfolios.

Therefore, I’m optimistic about the investment potential of the business over the long run. I think it has a sound strategy, that its wider industry may perform well in spite of the risks it faces, and that it offers good value for money compared to the wider FTSE 100.

[philanderer] 08/4/2019 16:33

Market report:

Oil majors ended among the top performers in the FTSE 100, with BP shares closing up 1.7%, Royal Dutch Shell 'A' shares up 1.2% and 'B' shares up 1.0% as the price of Brent rose.

Brent oil was quoted at USD70.90 a barrel at the London equities close Monday, trading around five-month highs, up from USD69.90 late Friday.

Oil was boosted amid supply concerns, explained David Madden at CMC Markets.

"OPEC are reducing output, the US have imposed sanctions against Venezuela and Iran, and conflict in Libya has all helped drive oil to its highest level since November," said Madden.

Alliance News

[waldron] 08/4/2019 16:30

FTSE 100
7,451.89 +0.07%
Dow Jones
26,301.39 -0.47%
CAC 40
5,471.78 -0.08%

Brent Crude Oil NYMEX 71.06 +1.02%
Gasoline NYMEX 1.98 +0.77%
Natural Gas NYMEX 2.71 +1.80%


(WTI) - 08/04 18:06:55
64.08 USD +1.10%

Eni
15.814 -0.21%


Total
50.6 +0.62%


Engie
13.545 +0.78%

Orange
14.815 -0.30%



BP
578.2 +1.69%

Shell A
2,505 +1.19%

Shell B
2,522.5 +1.02%

[grupo guitarlumber] 08/4/2019 12:22

Enviromentally focused investor group Follow This to withdraw climate resolution at AGM

--The move aims to give Shell more time to align goals with Paris accord and is backed by key Dutch investors who will monitor the company's progress

--Follow This has similar resolutions planned for Equinor, BP and Chevron



By Oliver Griffin



Activist investor Follow This won't put forward a climate resolution at Royal Dutch Shell PLC's (RDSB.LN) annual general meeting this year to give the oil major more time to align itself with Paris Agreement objectives, a move that the company welcomed on Monday.

On Sunday, the Netherlands-based group of some 4,600 shareholders, which urges oil-and-gas companies to set long-term greenhouse gas emissions targets in line with the 2015 Paris accord, said it will withdraw its climate resolution from the agenda of the Anglo-Dutch company's AGM.

Shell said Monday it looked forward to receiving the formal documentation which supports the decision, which Follow This said it took based on the progress that Shell has made so far.

Follow This's decision follows discussions with six of Shell's top 10 Dutch investors--including Aegon NV (AGN.AE), NN Investment Partners and Van Lanschot Kempen NV (VLK.AE)--which have previously supported climate resolutions from the activist group. Follow This member Mark van Baal said it was due to these six companies' support for its climate resolutions that Shell had developed its "industry-leading" goals.

"Our mission is to have the entire oil-and-gas industry, which can make or break the Paris Climate Agreement, commit concretely to Paris and actually begin to invest in a sustainable energy supply," he said.

Follow This said its climate resolutions remain on the agendas of the AGMs of Equinor ASA (EQNR.OS), BP PLC (BP.LN) and Chevron Corp. (CVX).

Shell's climate goals are regarded as industry leading by Follow This in part because the company includes so-called Scope 3 emissions in its greenhouse gas-reduction targets. In this case, Scope 3 emissions are those generated by the fuels burned by Shell customers worldwide.

"Oil-and-gas companies had previously always taken the position that the emissions of their products fell outside the domain of their own responsibility," Mr. van Baal said.

Still, Follow This has pledged to keep up the pressure on Shell over emissions targets.

Mr. van Baal said: "Shell hasn't heard the last from us. We want Shell's investments to be aligned with Paris."

He said Shell's current targets aim for a reduction of just 30% in absolute carbon emissions by 2050. An energy company looking to bring its emissions targets in line with the Paris agreement would need to aim for a reduction of 65% to 90%, Follow This said.

Speaking on behalf of the six Dutch investors in Shell that back Follow This, NN Investment Partners' head of responsible investing, Adrie Heinsbroek, said: "We appreciate Shell's positive steps to align its climate ambitions with The Paris Agreement and encourage them to continue the transition. We are giving Shell this year to align its climate ambitions."

"We will continue to monitor closely and actively engage with Shell in the coming months and years," Mr. Heinsbroek said.

Last week Shell surprised the industry by saying it won't renew its membership with the American Fuel & Petrochemical Manufacturers in 2020 due to a material misalignment over climate policy. Shell decided to part ways with the trade association after conducting its first review on its association with 19 industry groups.

In March, Shell had said it aims to cut its net carbon footprint by up to 3% by 2021 compared with 2016, as it works to meet its goal of halving its greenhouse-gas emissions by 2050.

Last year, the Anglo-Dutch company said it would provide three- to five-year targets beginning in 2020 to reduce its net carbon footprint on an annual basis. Shell said it plans to incorporate the targets into a revised remuneration policy, which will be subject to a shareholder vote in 2020.



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



(END) Dow Jones Newswires

April 08, 2019 07:24 ET (11:24 GMT)

[waldron] 07/4/2019 17:27

Libya Oil Boss Sees Output Gain With Hope of BP Pumping Soon
By Annmarie Hordern
and Salma El Wardany
18 mars 2019 à 16:11 UTC+1 Updated on 19 mars 2019 à 06:19 UTC+1



Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping in the politically divided OPEC nation.

The Sharara field in southern Libya is currently producing 260,000 barrels a day, and the state-run National Oil Corp. is working to raise output, NOC Chairman Mustafa Sanalla told Bloomberg Television in an interview. Sharara resumed pumping oil earlier in March after the end of a three-month occupation by armed groups.

“Three weeks ago, production was around 900,000 barrels a day. Now we’re in the range of 1.2 million barrels a day,” Sanalla said. “Unfortunately, we have many oil fields that are outdated and did not undergo any rehabilitation in a long time.”

Libya, with Africa’s largest reserves, has endured major disruptions to its output and exports as battles and blockades among rival armed groups and militias hindered efforts to revive production. The country pumped about 1.1 million barrels a day last year, the highest since 2012, but still only about two-thirds of its output before a 2011 civil war.
Outdated Facilities

Oil has rallied this year as the Organization of Petroleum Exporting Countries and allies worked to curb output by 1.2 million barrels a day in the first half of 2019 to avert a supply glut. Libya was exempt from the cuts because of its internal turmoil. Benchmark Brent crude was trading 8 cents higher at $67.62 a barrel at 9:16 a.m. in Dubai.

The country has many fields needing maintenance, and the NOC wants to replace and upgrade pipelines, storage tanks and other installations, Sanalla said in the interview in Baku, Azerbaijan. However, the NOC needs funds and better security to increase capacity, he said.

“We don’t expect to have so much money from the government. That’s why we are focusing on our partners.”

Sanalla expressed hope that BP would start production “very soon” in western Libya near the Algerian border. “The situation in that area, the Ghadamis basin, is safe, with no security problems.” The NOC also anticipates investment from European companies Eni SpA, Total SA, Repsol SA and OMV AG, he said.

Many wells at Sharara were damaged by sabotage after the field was closed in December, Sanalla said. The NOC is developing its own security plan for Sharara, building protective sand berms and installing surveillance cameras, and its staff are working to boost production at the field to 315,000 barrels day, he said.
(Updates with oil price in fifth paragraph.)

[waldron] 07/4/2019 17:25

CHEERS PHIL

[philanderer] 07/4/2019 17:00

Re Libya , this from just over two weeks ago...

Libya boosted crude production by a third after restarting its biggest field, and its top oil official sees further gains when companies like BP Plc invest and start pumping in the politically divided OPEC nation.

Sanalla expressed hope that BP would start production “very soon” in western Libya near the Algerian border. “The situation in that area, the Ghadamis basin, is safe, with no security problems.” The NOC also anticipates investment from European companies Eni SpA, Total SA, Repsol SA and OMV AG, he said.

[the grumpy old men] 07/4/2019 15:19

Goldman: The Renewables Revolution Is Good For Big Oil
By Irina Slav - Apr 07, 2019, 10:00 AM CDT
Join Our Community
solar park

The renewable energy revolution that many have been seen as a threat for the oil and gas industry will actually benefit one significant segment of it: Big Oil. That’s what Goldman Sachs’s head of natural resources research in the EMEA region told CNBC this week.

The reason for the counterintuitive conclusion has everything to do with size: the same factor that has made Big Oil the most likely winner in the shale patch as long as oil and gas prices don’t slump too low.

“The decarbonization push, the push from the market to adapt to climate change, is tightening the financial conditions in the sector so much that we’re recreating the barriers to entry and we’re reconsolidating the market structure we lost at the beginning of the 2000s,” Michele della Vigna said.

As the barriers to entry rise higher, there is less competition for Big Oil and more opportunities to maintain and improve profitability. In other words, the rise of renewables had provided the world’s supermajors with one more competitive advantage over smaller oil and gas companies.

Yet this competitive advantage from renewable energy is not the only factor working for Big Oil. According to della Vigna, the world’s supermajors will also benefit from the slowness of the transition process from fossil fuels to renewable energy.

“We hear a lot of stories of long-term substitution of oil demand with electricity but it’s going to take a long time. And in the meantime, demand remains robust, particularly in the emerging markets which continue to buy a lot of crude.”
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This is nothing new, in fact. China, India and other emerging economies are the main swing factors where oil demand is concerned. Every bit of economic data coming from that direction swings prices in the blink of an eye and will likely continue to do so amid what now looks like permanent supervolatility in the oil market.

Again, the supermajors are better placed to respond to demand from emerging economies, not least because their size and the scale of their operations allow for deeper cost cuts. This, in turn, makes their oil—and their gas—more competitive than the commodities of smaller producers lacking the financial and other resources to reduce their costs sufficiently.
Related: Sharp Rise In Rig Count Pressures Oil Prices

So, it seems, we are now witnessing what Goldman’s analyst calls “the restoration of the industry’s oligopolistic market structure.” After the flurry of independents that made the so-called first shale revolution possible before the 2014 price crash, now things are returning to their normal state with the supermajors dominating the landscape in oil and gas, in both shale and conventional production.

And if that isn’t enough, here’s some more good news for Big Oil: according to della Vigna, the oil market will swing into a deficit in the next decade, reflecting the slump in investments in new production during the downturn. Those with big cash piles will be the companies to benefit from the tighter supply situation.

There is always the possibility of a surprise, of course, but bar any of these, supermajors have scarce competition to look forward to over the next few years.

By Irina Slav for Oilprice.com

[the grumpy old men] 07/4/2019 15:19

Goldman: The Renewables Revolution Is Good For Big Oil
By Irina Slav - Apr 07, 2019, 10:00 AM CDT
Join Our Community
solar park

The renewable energy revolution that many have been seen as a threat for the oil and gas industry will actually benefit one significant segment of it: Big Oil. That’s what Goldman Sachs’s head of natural resources research in the EMEA region told CNBC this week.

The reason for the counterintuitive conclusion has everything to do with size: the same factor that has made Big Oil the most likely winner in the shale patch as long as oil and gas prices don’t slump too low.

“The decarbonization push, the push from the market to adapt to climate change, is tightening the financial conditions in the sector so much that we’re recreating the barriers to entry and we’re reconsolidating the market structure we lost at the beginning of the 2000s,” Michele della Vigna said.

As the barriers to entry rise higher, there is less competition for Big Oil and more opportunities to maintain and improve profitability. In other words, the rise of renewables had provided the world’s supermajors with one more competitive advantage over smaller oil and gas companies.

Yet this competitive advantage from renewable energy is not the only factor working for Big Oil. According to della Vigna, the world’s supermajors will also benefit from the slowness of the transition process from fossil fuels to renewable energy.

“We hear a lot of stories of long-term substitution of oil demand with electricity but it’s going to take a long time. And in the meantime, demand remains robust, particularly in the emerging markets which continue to buy a lot of crude.”
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

This is nothing new, in fact. China, India and other emerging economies are the main swing factors where oil demand is concerned. Every bit of economic data coming from that direction swings prices in the blink of an eye and will likely continue to do so amid what now looks like permanent supervolatility in the oil market.

Again, the supermajors are better placed to respond to demand from emerging economies, not least because their size and the scale of their operations allow for deeper cost cuts. This, in turn, makes their oil—and their gas—more competitive than the commodities of smaller producers lacking the financial and other resources to reduce their costs sufficiently.
Related: Sharp Rise In Rig Count Pressures Oil Prices

So, it seems, we are now witnessing what Goldman’s analyst calls “the restoration of the industry’s oligopolistic market structure.” After the flurry of independents that made the so-called first shale revolution possible before the 2014 price crash, now things are returning to their normal state with the supermajors dominating the landscape in oil and gas, in both shale and conventional production.

And if that isn’t enough, here’s some more good news for Big Oil: according to della Vigna, the oil market will swing into a deficit in the next decade, reflecting the slump in investments in new production during the downturn. Those with big cash piles will be the companies to benefit from the tighter supply situation.

There is always the possibility of a surprise, of course, but bar any of these, supermajors have scarce competition to look forward to over the next few years.

By Irina Slav for Oilprice.com

[the grumpy old men] 07/4/2019 12:41

DOES bp HAVE OPERATIONS IN LIBYA


Wondering what affect on share price and oil prices next week or so

[the grumpy old men] 07/4/2019 12:40

DOES bp HAVE OPERATIONS IN LIBYA


Wondering what affect on share price and oil prices next week or so