Bp Share Discussion Threads

[florenceorbis] 14/6/2021 17:56

Oil majors actively pursuing renewable power projects for long-term sustainability, says analyst

Features & AnalysisPowerOil & Gas

By James Murray 14 Jun 2021

Analysis by GlobalData said the portfolio restructuring will help the industry’s largest companies to reduce their carbon intensity
India renewable energy investment

Within the renewable power sector, solar and wind energy are expected to show the highest growth rates over the next 10 years (Credit: Shutterstock/hrui)

The oil majors are actively pursuing renewable power projects for long-term sustainability as demand for fossil fuels is expected to fall in the coming years, says an analyst.

Analysis by data and analytics firm GlobalData said the portfolio restructuring will help the industry’s largest companies to reduce their carbon intensity and align themselves with the changing energy mix in the long run.

It claims oil and gas engineering, procurement and construction (EPC) vendors are enabling the energy transition by “building capabilities to set up renewable energy infrastructure”;.

“Global power demand is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2020 to 2030,” said Ravindra Puranik, oil and gas analyst at GlobalData.

“A significant portion of this will be fulfilled by renewable power generation. This growth outlook makes renewable power a key market for players across the energy sector, including oil and gas companies whose traditional market is at risk amid the transition to low-carbon sources.”


Oil majors BP, Equinor and Shell investing in renewable power projects

Within the renewable power sector, solar and wind energy are expected to show the highest growth rates over the next 10 years.

GlobalData projects solar power generation, including solar PV and solar thermal, to grow at a compound annual growth rate (CAGR) of 11.9% between 2020 and 2030.

Meanwhile, onshore and offshore wind segments are expected to collectively grow at a CAGR of 9.4% over the same period.

“Various governments are actively focusing on reducing carbon emissions and have enacted laws to facilitate decarbonisation in their countries,” said Puranik.

“Electrification, based on renewable energy sources, is an ideal approach to reduce carbon emissions. It also marks a strategic shift away from fossil fuels in the global effort to mitigate the threat to climate change.”

A key driver enabling the transition to renewables is falling costs. Traditionally, clean energy projects had a significant cost disadvantage over coal- and gas-fired power plants.

But in recent years, their economic competitiveness has improved significantly due to government policies and incentives, as well as technological advances.

“This has incentivised oil and gas majors such as BP, Equinor and Shell to invest in wind power generation,” said Puranik. “BP and Total are also leading the way in terms of upcoming solar power capacity.”

GlobalData notes that the growing role of renewable energy poses a “major threat” to fossil fuel-based power generation.

It added that the share of natural gas-based power generation will be “threatened221; by renewables growth and is likely to be the “next biggest loser” in the global power generation mix after coal.

[veryniceperson] 14/6/2021 16:58

You enjoy Newyork Boy. Envious. Oil at the price it's been at should come through in the results next month.

[smurfy2001] 14/6/2021 16:52

Larger than normal volumes today, promising.

[plastow] 14/6/2021 15:34

Blow through resistance great about time too

[klotzak] 14/6/2021 14:54

An excellent example of resistance being tested at 330. Needs a bit of oomph to breach that, but within next 7 days it should be a solid support. Especially with all the dividend reinvestment.

[meb123] 14/6/2021 11:27

Just read Shell is selling $10bn of its US oil assets. Maybe BP should gobble them up lol

[gwatson56] 14/6/2021 10:13

Looks like the 38.2% Fibonacci expansion at $70.37 WTI has been breached. The 50% level is $74.42 WTI.

IF WTI pivots at this number then perhaps Fibonacci has some relevance. Still have an open mind on this, but the $74.42 WTI number is a clear gauge of the theory.

[meb123] 14/6/2021 08:49

I think he wants to make our own judgements lol

[shieldbug] 14/6/2021 08:40

What's the point Johnwise? How does that all affect BP? What are we as investors supposed to do about it? Buy? Hold? Sell?

[johnwise] 14/6/2021 08:34

.
The evidence - global warming isn't happening..


Video: The truth about global warming



VIDEO: A Dearth of Carbon Dr. Patrick Moore



VIDEO: Bill Gates Slams Unreliable Wind and Solar Energy



VIDEO: European Parliament Told 'There is No Climate Emergency!'



Global warming a total “hoax and scam” run by corrupt scientists, warns Greenpeace co-founder



Exposed: How world leaders were duped into investing billions over manipulated global warming data

[johnwise] 14/6/2021 08:31

British Governments plan to destroy British car manufacturing Update:


G7 drops target aim to shift car sales away from oil

Group of Seven nations backed away from plans to set a target for making sure most new cars sold are greener vehicles, instead pledging only speed up efforts to move away from combustion engines.



Electric cars may make driving too expensive for middle classes, warns Vauxhall chief

[florenceorbis] 14/6/2021 08:28

Norwegian renewable energy investment company Aker Horizons ASA said Monday that BP PLC has agreed to join Statkraft and Aker Offshore Wind in a consortium bidding to develop offshore wind energy in Norway.

Aker Horizons, which holds a majority shareholding in Aker Offshore Wind, said the partnership will see BP, Statkraft and Aker Offshore Wind each hold a 33.3% share and will pursue a bid to develop offshore wind power in the Sorlige Nordsjo II licence area.

The consortium also intends to explore opportunities to provide clean power to electrify offshore oil and gas facilities.

"BP aims to grow our renewables business at scale and we see great opportunities in offshore wind energy," said Dev Sanyal, BP's executive vice president of gas and low carbon energy.

"Coming together with Aker and Statkraft, we believe this consortium will be ideally positioned to effectively and efficiently grow and deliver clean power for European markets, as well as strengthen the supply to Norway when needed," he said.



Write to Dominic Chopping at [e-mail]



(END) Dow Jones Newswires

June 14, 2021 03:04 ET (07:04 GMT)

[johnwise] 14/6/2021 08:22

.
The evidence - global warming isn't happening..


Video: The truth about global warming


VIDEO: A Dearth of Carbon Dr. Patrick Moore


VIDEO: Bill Gates Slams Unreliable Wind and Solar Energy


VIDEO: European Parliament Told 'There is No Climate Emergency!'


Global warming a total “hoax and scam” run by corrupt scientists, warns Greenpeace co-founder


Exposed: How world leaders were duped into investing billions over manipulated global warming data

[johnwise] 14/6/2021 08:21

British Governments plan to destroy British car manufacturing Update:


G7 drops target aim to shift car sales away from oil

Group of Seven nations backed away from plans to set a target for making sure most new cars sold are greener vehicles, instead pledging only speed up efforts to move away from combustion engines.


Electric cars may make driving too expensive for middle classes, warns Vauxhall chief

[veryniceperson] 13/6/2021 22:19

B.P 19.5% of Rossneff worth one wonders. Shell are selling oil assets in Texas worth 10 billion 6% of there over all supply.

[porsche1945] 13/6/2021 20:54

This and shell in several funds of mine, gutted how poorly they are doing, as usual US companies in exactly the same biz, most Europeans too, recovered well, what is it with anything listed on dog of the world brexit index ftse 100. Back at dec 1999 levels. Dire.Once I’m able to get to cost and clear on UK listed stuff I’m sticking to S&P growth, this dividend lark is capital destructive dross.

[gwatson56] 13/6/2021 18:31

Looks like Rosneft mk 2.... helps with the green targets and as with Rosneft a divi is paid. Smart move as the shareholders ultimately need to fund the transition to green targets. Might take some time to germinate though....


LONDON—BP PLC is working on a plan to spin off its operations in Iraq into a stand-alone company, according to people familiar with the matter, as the oil giant shuffles its assets and investment plans in its pivot toward lower-carbon energy.

The new company would hold BP’s interest in Iraq’s giant Rumaila oil field—one of the world’s largest—and be jointly owned by China National Petroleum Corp., one of the British company’s partners at the site, the people said. The new entity would hold its own debt, separate from BP, and distribute profits via dividends, the people added.

The plan aims to give BP more flexibility to invest in low-carbon energy by enabling it to reduce its spending on oil and gas, the people said.

[klotzak] 12/6/2021 18:20

Good to know this isn't shorters.

[klotzak] 12/6/2021 18:19

Don't think so. Within 6-8 weeks long haul holidays are going to get going. Regardless of your green beliefs, there is not enough fuel... hence the price will have to up. Saudi and the cartels walk that fine line with fracking, but demand outstrips supply by 0.9 mbpd already. It's a ticking time bomb when the air is full of long haul fuel drinkers.BP are advancing their green credentials as well. A well led company.

[starguitar] 12/6/2021 12:48

BP has loads of 'green' energy production, more than most companies. The fact is we still need oil and gas and that's not going change for a long time! Even if you want to live in a tent eating roots and dead crows you still need fossil fuels to produce the tent!

[spacecake] 12/6/2021 12:36

"It’s being massively manipulated for some reason."

Portfolio stock rotation away from atmospheric polluters who are not acting quick enough ?

I can't find any evidence of BP short interest.

[klotzak] 12/6/2021 12:21

It's being massively manipulated for some reason. Not sure if it's shorters, but Saudi are going to war on shorters, so expect supply to remain tight whilst demand continues to rise.At some point the shorters are going to take a massive hit. You're right, though, could it be it's out of favour until 28 July when Q2 results show the expected squeeze never happened due to buoyant oil prices?