BP Share Price (BP.)

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Share Name Share Symbol Market Type Share ISIN Share Description
British Petroleum LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Shares Traded Last Trade
  -3.90p -0.71% 548.20p 24,352,492 16:35:18
Bid Price Offer Price High Price Low Price Open Price
549.30p 549.60p 553.60p 546.10p 549.10p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 238,179.18 15,195.45 10.98 51.7 109,409.8
Related Shares
Shell A (RDSA), Shell B (RDSB), Katoro Gold (KAT), Spitfire Oil (SRO)

BP (BP.) Latest News

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Date Time Source Headline
20/3/201917:45UKREGBP PLC Transaction in Own Shares
18/3/201917:42UKREGBP PLC Transaction in Own Shares
18/3/201912:48DJNAlgeria's Political Turmoil Casts Doubt on Oil and Gas Deals
18/3/201909:30UKREGBP PLC Q4 2018 Payment of dividends in Sterling
14/3/201910:58DJNEni Finds Gas at Nour Prospect Offshore Egypt
13/3/201917:36UKREGBP PLC Transaction in Own Shares
13/3/201916:23DJNBP Announces New Plan to Lower Methane Emissions
12/3/201917:33UKREGBP PLC Director/PDMR Shareholding
11/3/201918:16UKREGBP PLC Transaction in Own Shares
08/3/201914:37DJNE&P Oil Stocks Fall as Norway Fund to Cease Investment
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25/3/201918:40BP. - Charts & News2,583
21/3/201920:40 BP90,555
13/2/201910:28Only a question of time before Rio take out GGP and BP take out UKOG-
23/10/201814:52Could BP be heading for 350p?67
11/10/201809:14BP AND GOLDMAN SUCKS FACING JUNK STATUS..SHORT TO OBLIVION!11

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BP (BP.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
18:59:23549.6811,19661,542.17O
18:28:48548.20920,2065,044,569.29O
17:45:14550.00368,0002,024,000.00O
17:39:35551.488314,582.80O
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25/3/2019
08:20		BP Daily Update: British Petroleum is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker BP.. The last closing price for BP was 552.10p.
British Petroleum has a 4 week average price of 527p and a 12 week average price of 485.95p.
The 1 year high share price is 603.20p while the 1 year low share price is currently 463.95p.
There are currently 19,958,001,728 shares in issue and the average daily traded volume is 25,576,318 shares. The market capitalisation of British Petroleum is £109,409,765,472.90.
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04/2/2019
12:27		adrian j boris: BP share price trades higher ahead of fourth-quarter update Group expected to post rise in year-on-year profit Tsveta Zikolova by Tsveta Zikolova Monday, 04 Feb 2019, 10:12 GMT BP share price trades higher ahead of fourth-quarter update Shares in BP (LON:BP) have climbed higher in London this morning ahead of the oil major’s fourth-quarter results tomorrow. The update will come after FTSE 100 Royal Dutch Shell (LON:RDSA) beat forecasts last week. As of 09:26 GMT, BP’s share price had added 0.96 percent to 526.50p, outperforming the benchmark FTSE 100 index which currently stands 0.28 percent higher at 7,039.58 points. The group’s shares have added more than seven percent to their value over the past year, as compared with about a 5.5-percent drop in the Footsie. BP to post Q4 results BP is scheduled to update investors on its fourth-quarter performance tomorrow and IG reports that a company-compiled consensus of 20 brokers suggests that the oil major will post underlying replacement cost profit – its version of net income – of $2.63 billion for the last three months of the year, down almost 31 percent from the $3.8 billion reported in Q3. Profit, however, is still anticipated to be 25 percent higher compared to Q4 2017. Proactive Investors meanwhile has quoted Deutsche Bank Lucas Herrmann as saying in a recent note that “sharp commodity declines combined with a challenging downstream means the strong earnings and cash momentum apparent for much of the past two years should end this quarter”. The analyst, however, reckons that the results “should show good year-on-year progress with headline cash flow strongly supported by the material release of working capital, helpful for balance sheets”. Analyst ratings update Royal Bank of Canada reaffirmed BP as a ‘top pick’ on Friday, without specifying a price target on the shares. According to MarketBeat, the blue-chip oil major currently has a consensus ‘buy’ rating and an average price target of 645.83p on the shares. As of 10:14 GMT, Monday, 04 February, BP plc share price is 526.50p.
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04/2/2019
09:04		grupo: INVESTMANIA Why I think the BP plc share price could offer growth potential I’m optimistic about the prospects for the BP plc (LON:BP) (BP.L) share price February 4, 2019 Robert Stephens BP (LON:BP) BP plc BP plc While the performance of the BP plc (LON:BP) (BP.L) share price has been volatile in recent quarters, I’m upbeat about the long-term outlook for the business. Sure, the oil price is likely to remain volatile over the near term to my mind. It is difficult to accurately predict how supply growth will change in the near term, with there being the potential for extensions to sanctions waivers on Iran. Similarly, the outlook for the world economy remains uncertain. Although consumer demand has generally been robust in recent months, that could change and demand growth for oil could decline. As a result, I believe that BP is a relatively risky stock which may experience periods of difficulty in future depending on the performance of the wider oil and gas sector. However, at the same time I remain optimistic about its long-term growth potential. I think that it has been able to invest in a range of areas across its asset base which has boosted its Upstream and Downstream performance in recent quarters. This could lead to stronger financial performance in future should operating conditions be favourable. Since BP has a dividend yield of around 6% at the moment, I feel that the company could offer a margin of safety. Its P/E ratio of around 11 suggests to me that it could represent good value for money compared to some of its FTSE 100 index peers. And with EPS due to rise by 11% this year, I’m upbeat about its financial and share price prospects. Although there may be less risky and more resilient stocks in the FTSE 100, I believe that the company’s low valuation and growth potential could help it to outperform the wider index over the long run after what has been a challenging period for the wider oil and gas industry.
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03/2/2019
09:45		maywillow: Https://www.fool.co.uk/investing/2019/02/03/why-i-think-the-bp-share-price-could-be-the-ftse-100-buy-of-the-decade/ Why I think the BP share price could be the FTSE 100 buy of the decade Rupert Hargreaves | Sunday, 3rd February, 2019 | More on: BP Young woman sat at laptop by a window Image source: Getty Images. When it comes to finding dividend stocks, I think it’s hard to beat the BP (LSE: BP) share price. The company has almost everything going for it. It has a portfolio of some of the world’s best oil and gas assets, cash generation is strong, and the firm has a well-developed hydrocarbon distribution network around the world. More importantly, unlike so many other companies, BP doesn’t have to try to reinvent itself every few years. Indeed, one of the biggest problems companies face is trying to stay relevant over the long-term. This means investing millions or even hundreds of millions of pounds in research and development and new capital projects. All BP has to do is find oil and get it out of the group which, granted, isn’t that easy, but it’s easier than trying to predict the next consumer trend or invent the next miracle drug. That said, one threat we can’t ignore is BP’s business model, from the global transition away from dirty, polluting fossil fuels like oil and gas, towards cleaner renewable energy. According to BP’s forecasts, demand for oil and gas will continue to expand until around 2035, and then level off from there. This implies that the company will still be able to reap (and distribute to investors) the rewards of producing oil and gas. But the group is also trying to grow its presence in the renewable energy space — it’s not resting on its laurels — which I believe is a sensible move, considering the way the world is heading. Slow and steady As I’ve explained above, the main reason why I believe BP could be the FTSE 100 buy of the decade is its predictable business model. This means management can concentrate on other things like improving efficiency, profit margins and cash returns to investors. BP is already one of the FTSE 100’s top income-producing equities. It currently has a dividend yield of 6.1%, and the distribution is covered 1.5 times by earnings per share. There’s much more to BP’s cash returns policy than just its dividend. The firm is also forking out billions to buy back its own shares, which will reduce the number in issue, pushing up earnings per share, and ultimately, the share price. According to my figures, the amount of money BP is currently spending on buybacks is equivalent to a buyback yield of 0.5%. When added to the dividend yield, this gives a total yield for investors of around 6.6%. Investing for the long term Unfortunately, because the company forked out $10.5bn to buy a string of producing assets across the US from BHP in the middle of last year, management has informed shareholders that buybacks will take a back seat in 2019 as the firm devotes all available funds to reducing debt. Still, over the long term, these new assets should only lead to improved cash generation, which will ultimately mean higher cash returns for investors when the borrowings used to fund the deal are paid off. These are just some of the reasons why I believe the BP share price is the FTSE 100 buy of the decade. You Really Could Make A Million Of course, picking the right shares and the strategy to be successful in the stock market isn't easy. But you can get ahead of the herd by reading the Motley Fool's FREE guide, "10 Steps To Making A Million In The Market". The Motley Fool's experts show how a seven-figure-sum stock portfolio is within the reach of many ordinary investors in this straightforward step-by-step guide. Simply click here for your free copy. Rupert Hargreaves owns no share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
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15/1/2019
12:35		ariane: 4 resources stocks with investing appeal? BP plc, Glencore PLC, Tullow Oil plc and Royal Dutch Shell Plc Do these resources shares have bright futures? BP plc (LON:BP) (BP.L), Glencore PLC (LON:GLEN) (GLEN.L), Tullow Oil plc (LON:TLW) (TLW.L) and Royal Dutch Shell Plc (LON:RDSB) (RDSB.L) January 15, 2019 Robert Stephens FTSE 100 Royal Dutch Shell Plc Royal Dutch Shell Plc The prospects for resources shares BP plc (LON:BP) (BP.L), Glencore PLC (LON:GLEN) (GLEN.L), Tullow Oil plc (LON:TLW) (TLW.L) and Royal Dutch Shell Plc (LON:RDSB) (RDSB.L) is the focus of this article. Could they deliver improving share price growth? With the oil price having been volatile of late, BP has experienced a difficult period. This situation could continue in the near term in my opinion, with demand growth for oil potentially being weaker than expected due to fears surrounding the prospects for the world economy. Since BP has invested heavily in its asset base and in acquiring the petroleum assets of BHP Group, I think that it could offer long-term growth. A dividend yield of around 6% suggests to me that the stock could offer good value for money. Glencore’s shares have been volatile in recent months, with the prospect of a stronger dollar potentially weighing on investor sentiment. This trend could continue in 2019 in my view, since a couple of interest rate rises are expected. However, with Glencore having a single-digit P/E ratio and an improved business model in my eyes after reducing costs and debt levels, I’m optimistic about its recovery prospects in future years. Tullow Oil’s strategy of increasing production and reducing debt could pay off in the medium term. it may create a more profitable and less risky business that is able to deliver improved share price performance. In the near term, its shares could be volatile and risky due in part to the uncertainty surrounding the oil price. But for a long-term investor like me, I believe that Tullow Oil could offer recovery potential given favourable operating conditions. Shell’s strategy of reducing debt and disposing of non-core assets could create a stronger business in the long term in my view. It may allow the company to focus on areas where it feels it has the greatest competitive advantage and most favourable risk to reward ratio. Since Shell has a dividend yield of around 6%, I believe that its shares could offer a margin of safety. Although its financial performance is highly dependent upon the price of oil, I think that it could outperform the FTSE 100 over the long term. About Robert Stephens 5344 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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29/11/2018
08:37		waldron: Where next for BP plc, Tullow Oil plc, Premier Oil PLC and Royal Dutch Shell Plc? Do these oil shares offer recovery potential? BP plc (LON:BP) (BP.L), Tullow Oil plc (LON:TLW) (TLW.L), Premier Oil PLC (LON:PMO) (PMO.L) and Royal Dutch Shell Plc (LON:RDSB) (RDSB.L) November 29, 2018 Robert Stephens FTSE 100 Royal Dutch Shell Plc Royal Dutch Shell Plc With the oil price having fallen by 33% in the last two months, I’m considering the investment prospects of BP plc (LON:BP) (BP.L), Tullow Oil plc (LON:TLW) (TLW.L), Premier Oil PLC (LON:PMO) (PMO.L) and Royal Dutch Shell Plc (LON:RDSB) (RDSB.L). Could they offer improving outlooks? BP’s share price has fallen by around 12% since early October. I wouldn’t be surprised if there is further volatility ahead for the FTSE 100 oil major. The sanctions waivers on Iran put in place by the US may mean that supply growth is stronger than previously expected, and may lead to continued weakness in the oil price in the near term. BP, though, seems to have an improving asset base in my opinion. It continues to invest in its operations, while the recent acquisition of BHP’s petroleum assets may boost its long-term growth potential. Premier Oil may also experience share price volatility. Fears surrounding the world economy and its growth rate may lead to uncertainty among investors with regard to the oil price. The company, though, seems to be making progress in maintaining cost discipline as well as ramping-up production. Trading on a P/E ratio of around 5 using current year EPS forecasts suggests to me that Premier Oil could offer a margin of safety. Tullow Oil is also ramping-up production, and this could create a business with less debt. In the long run, this may allow it to better cope with the volatility of the oil and gas industry. The company is also investing in its exploration activities. This could offer a growth catalyst in future years. A P/E ratio of around 10 and a forecast rise in EPS next year suggest to me that Tullow Oil may be undervalued, but could experience further volatility in the near term. Shell’s asset disposal programme could help to reduce its debt levels while allowing it to focus on core assets. This may lead to a stronger and more flexible business which is better able to overcome the inherent risks of the oil and gas industry. With Shell having a dividend yield of almost 6%, I think it could offer good value for money. In the long run, there is no guarantee that the sanctions waivers on Iran will continue, which means I remain optimistic about the prospect of a recovery for the oil price. But in the meantime, further volatility could be ahead. About Robert Stephens 4992 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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08/11/2018
20:14		charleybrown: EX DIVIDEND DATES ARE NORMALLY THURSDAYS YOU CAN PURCHASE THE SHARES UP TO CLOSE OF BUSINESS 16.30 GMT ON THE DAY BEFORE THE EX DIVIDEND DAY (WEDNESDAY) AND YOU WILL GET THE DIVIDEND . ON THE EX DIVIDEND DAY (THURSDAY) BEFORE THE MARKET OPENS THE SHARE PRICE AT THAT TIME WILL BE MARKED DOWN BY THE DIVIDEND AMOUNT. IF YOU LIKE ON THE EX DIVIDEND DAY (THURSDAY) YOU CAN SELL THE SHARES AND STILL GET THE DIVIDEND PAYMENT TODAY BEING THE EX DIVIDEND AND THE DIVIDEND AMOUNT TO BE PAID WAS AROUND 7.9p SHARE PRICE THE PREVIOUS DAY WEDNESDAY CLOSED AT 544.30 NOW BECAUSE OF THE OVERNIGHT ADJUSTMENT/ the share price instead of opening around 536.40 it opened at 542.30 down 2p this happened because overnight the share price went up to around 550.2 then the dividend adjustment was made - 7.9p so the share price opened at 542.30
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31/10/2018
08:26		waldron: Are share price gains ahead for BP plc, Tullow Oil plc, Royal Dutch Shell Plc and Premier Oil PLC? Do these stocks offer upside potential? BP plc (LON:BP) (BP.L), Tullow Oil plc (LON:TLW) (TLW.L), Royal Dutch Shell Plc (LON:RDSB) (RDSB.L) and Premier Oil PLC (LON:PMO) (PMO.L) October 31, 2018 Robert Stephens FTSE 100 Royal Dutch Shell Plc Royal Dutch Shell Plc The outlook for oil and gas shares such as BP plc (LON:BP) (BP.L), Tullow Oil plc (LON:TLW) (TLW.L), Royal Dutch Shell Plc (LON:RDSB) (RDSB.L) and Premier Oil PLC (LON:PMO) (PMO.L) could be relatively volatile in my view. Fears of a global economic slowdown could cause their share prices to come under pressure in the short run. BP, though, could deliver improving share price performance in the long run. The company’s recent update showed that its profitability is moving higher, while further investment in its asset base could create a stronger business over the coming years. With dividends rising and the stock yielding over 5%, I think the company could have improving income investing appeal. With a P/E ratio of around 13, I feel that BP could be undervalued at the moment. Shell’s financial prospects appear to be improving. The company’s investment in its asset base could prove to be a sound move, while a focus on deleveraging could create a stronger business in the long run. With Shell’s free cash flow forecast to improve over the next couple of years, I think the company could offer a rising dividend. On a yield of around 5.5%, I think the stock could offer good value for money versus the wider FTSE 100. Tullow Oil’s strategy of ramping-up production could begin to pay off. The company is due to record a double-digit rise in EPS next year, and yet it trades on a P/E ratio of around 10. This suggests to me that the stock could be undervalued. With Tullow Oil set to reduce debt levels over the medium term, I’m optimistic about its prospects in the coming years. While potentially volatile, its improving financial prospects and exploration potential make me upbeat about its capital growth outlook. Premier Oil has focused on reducing costs and increasing production. This is set to lead to improving free cash flow, which could help to reduce debt levels. While potentially volatile and risky, I feel that Premier Oil could offer a margin of safety. It has a P/E ratio of around 6 using next year’s EPS figure, which indicates to me that it may offer upside potential. About Robert Stephens 4720 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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26/9/2018
09:28		the grumpy old men: 4 surprising dividend growth shares? AstraZeneca plc, Barclays PLC, Glencore PLC and BP plc Do these stocks offer upbeat dividend growth outlooks? AstraZeneca plc (LON:AZN) (AZN.L), Barclays PLC (LON:BARC) (BARC.L), Glencore PLC (LON:GLEN) (GLEN.L) and BP plc (LON:BP) (BP.L) September 26, 2018 Robert Stephens FTSE 100 Barclays Barclays The dividend growth outlooks of AstraZeneca plc (LON:AZN) (AZN.L), Barclays PLC (LON:BARC) (BARC.L), Glencore PLC (LON:GLEN) (GLEN.L) and BP plc (LON:BP) (BP.L) could be relatively strong in my view. After a number of years without rising dividends, AstraZeneca is expected to increase shareholder payments in the next financial year. The company’s investment in its pipeline looks set to pay off, with EPS growth of 12% in 2019 being forecast by the stock market. With the company having an increasingly strong position in a number of key markets, its long-term outlook appears to be improving. A dividend yield of 3.7% may not be the highest in the FTSE 100, but AstraZeneca’s dividend growth potential seems to be high. After freezing its dividend in the last couple of years to focus on rebuilding its balance sheet, Barclays is expected to deliver strong dividend growth over the next two years. In fact, by 2019 its dividend payments are forecast to be around 170% higher than they were in 2017. This puts the stock on a forward yield of 4.5%, and suggests that Barclays could be a surprise income option in the long run. Glencore’s share price performance has been relatively disappointing of late. Regulatory concerns and a stronger dollar have caused investor sentiment to come under a degree of pressure. This means that the mining company now has a dividend yield of around 5%. In my view, this provides it with income investing appeal. Clearly, it is a relatively risky and volatile stock which lacks the resilience of some of its FTSE 100 peers. But with a P/E ratio of 9, I feel that Glencore’s risk to reward ratio is relatively appealing. BP’s financial prospects have improved significantly in recent months. A rising oil price means that the company’s EPS growth is expected to positive, although its dividend yield still stands at over 5% in spite of a share price increase. With the BP share price having a P/E ratio of around 13, I feel that it offers good value for money. Since I believe that the oil price could move higher, the stock could deliver improving dividend growth over the medium term. About Robert Stephens 4396 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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22/8/2018
14:45		grupo guitarlumber: Aug 22, 2018, 06:26am Five Reasons To Be Bullish About Investing In BP Gaurav Sharma Gaurav Sharma Contributor i I cover commodities, mostly oil & gas, often debunking risk premiums. The recently concluded earnings season turned out to be mixed bag for oil and gas majors, with one notable exception – BP (LON:BP). The company delivered a sterling set of quarterly results and has been unveiling a series of eye-catching announcements for much of the current calendar year. The developments give existing and potential investors much to be positive about. Towards the second quarter of 2017, BP was among my stock picks as a nailed-on 'buy' with a 12-month U.K. share price target of 550p. Over the stated period, the company not only outperformed its peers and but beat also the price target with time to spare. Relatively higher oil prices and increased output helped BP quadruple its second quarter underlying replacement cost profit, the company's definition of net income, to $2.8 billion up from $0.7 billion over the same quarter last year, as revealed in July. There are many reasons to be optimistic about investing in BP (Photo: Andrew Yates /AFP/Getty Images) Based on public statements, portfolio optimization efforts and developments at the oil major, I maintain that 'buy' sentiment and believe BP is well poised to match or cap a share price level of 650p over the next 12 months. Here are five reasons to be bullish: Production uptick and the U.S. 'Shale Gale' ride BP's output in the first six months of 2018 came in at 3.662 million barrels of oil equivalent per day (boepd), up from 3.544 million (boepd) over the same period a year ago. The company shows clear signs of moving onward and upward. MORE FROM FORBES Eidoo BrandVoice The Importance Of Being Trustless: Eidoo's Hybrid Exchange NVIDIA BrandVoice Prescribing Deep Learning in Healthcare Civic Nation BrandVoice Students Helping Students To Alleviate The Hidden Costs Of College On July 27, BP revealed it is buying $10.5 billion worth of U.S. shale assets from BHP Billiton, the blue chip miner that's had a troubling time managing them since purchase back in 2011. The acquisition is BP's biggest since 1999. In pure barrels of oil equivalent terms, the acquisition will increase BP's U.S. onshore oil and gas resources by 57%. That would be 190,000 boepd in additional output; split as 90,000 boepd from the Eagle Ford, 60,000 boepd from Haynesville and last but not the least 40,000 boepd from the Permian. The acquisition is a massive impact statement from BP as all three plays point to a quicker monetization of barrels compared to conventional offshore oil and gas plays that take years to yield. Furthermore, make no mistake; BP can most certainly manage the assets way better than BHP Billiton did. Moving on from Deepwater Horizon litigation Even though it is still paying the $65 billion bill in clean-up and penalty costs resulting from the disaster, market consensus and vibes from BP suggest the company is putting the troubles of the 2010 Deepwater Horizon accident and the Gulf of Mexico oil spill behind it. BP (LON:BP) share price trajectory for 12 months to August 2018.BBC The saga weighed on the company for nearly five financial years, causing divestments across the board, as it attempted to get a handle on things. However, since the start of 2016, many in the investor community view the oil major to be growing in confidence in its ability to manage and put the fallout behind it. Putting a figure on it, based on the conjecture of rating agencies and market projections, BP's spill damages are likely to fall from an average of $7 to 8 billion per year to less than $1 billion from 2020-21. If that turns out to be the case, BP's free cash-flow (FCF) exceeds this. Upstream portfolio optimisation Back in July, commenting on his company's U.S. shale move, BP Chief Executive Bob Dudley described it as "a transformational acquisition" and "world class addition" to the company's portfolio. That portfolio has become among the best in the oil and gas business in recent years, with the oil major proving itself to be deft at shifting and bagging upstream assets. View of BP's Khazzan project site in Oman.BP Plc Buying shale assets, divesting in Alaska, going big on natural gas, remaining a key participant in Gulf of Mexico oil block auctions, cutting operations in the North Sea yet revealing two new finds in the mature prospect – BP has seen and done it all. The company was also deemed to have had "best-in-class" lifting costs in 2017, according global analysis and advisory firm Rystad Energy. For instance, BP's $6 billion investment in the Khazzan Phase 1 and Makarem projects in Oman highlighted its "execution excellence" by achieving greenfield costs below $5 per barrel of oil equivalent. With upstream on the up, as a sweetener for shareholders, BP lifted its dividend by 2.5% in the second quarter. It is the first such increase since 2014, offering a higher yield (of 5.44%) and better cash returns. New ventures, innovation and downstream fine-tuning Alongside signature moves in upstream, sit strategic low carbon and downstream overtures. Back in February, at the time of the publication of its 2017 annual results that pointed to a 24% annualized uptick in downstream profits, BP's Chief Scientist Dr Angela Strank told me the oil major is playing a "longer wavelength game" underpinned by emerging technologies, scientific agility and a robust downstream portfolio. "In recent times we have divested a number of refineries, but our current focus is on eight refineries around the world that are really world class in terms of their operations and complexity. We've improved the reliability of our assets, and turned around our petrochemicals business to be resilient at any point in the cycle which maybe it wasn’t in the past," she added. BP petrol station near Mexico city, part of its expansion strategy for fuel retail sales in emerging markets. (Photo: Ronaldo Schemidt/AFP/Getty Images) The company has strategically entered retail fuel markets in Mexico and China. Efforts also range from creating biosynthetic lubricants (Castrol Edge) to more efficient fuels (BP Ultimate), digital apps for aviation support like FlyVictor and RocketRoute to Tricoya, a consortium project that facilitates acetylation of wood chips for use in the fabrication of panel products such as medium density fibreboard and particle-boards. Its venture Lightsource BP, in which the company has a 43% stake and is already the largest developer and operator of utility-scale solar projects, is looking to spread its wings to India's renewable energy market. In June, BP bought Chargemaster, the UK's top electric vehicle charging firm. CEO's commitment to lower break-even The company's moves are accompanied by prudent management coming straight from the top. If the Deepwater Horizon disaster was the trigger for a lower break-even, the oil price slump of 2015-16 served as a catalyst. BP Chief Executive Bob Dudley was the first of the big oil bosses to declare his aspiration for a $30 per barrel break-even, although several of his peers have since followed suit. Last year, at the World Petroleum Congress in Istanbul, Turkey, Dudley told me that he felt the age of $100 oil prices was an aberration, and that BP would be aiming to lower its break-even first to $50, then to the $35-40 range, and ultimately to $30 by 2021. BP Chief Executive Bob Dudley has made clear his desire for a lower break-even. (Photo: BP Plc)BP Plc Investors should take comfort as the top man is so vocal about an optimized portfolio and a lower break-even. In Dudley, BP has a boss who not only steadied a rocky ship but has also turned it around. The company continues to show impressive financial resilience under his leadership. The various downstream and upstream overtures, especially the $10.5 billion mammoth shale acquisition, are likely to result in a marginal increase of its gearing, or debt-to-capital, ratio. However, this will "remain" within the company’s 20% to 30% target range, according to BP. Of course, the oil major's shares trade in near tight correlation with oil (and gas) prices and in some ways present a similar level of volatility. But crude oil benchmarks have oscillated within a predictable $60-80 per barrel range for a while now, and BP, for me at least, represents the corporate turnaround story of the past few years. By that argument, I consider it to be a long-term addition to any investment portfolio. Disclaimer: The above commentary is meant to stimulate discussion based on the author's opinion and analysis. It is not solicitation, recommendation or investment advice to trade the aforementioned company’s shares, and/or oil and gas futures, options or products. Oil and gas markets can be highly volatile and opinions in the sector may change instantaneously and without notice. The author is an oil & gas analyst and market commentator. Follow him on Twitter @The_Oilholic FORBES
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16/8/2018
17:31		the grumpy old men: 16 August 2018 BP p.l.c. Second quarter interim dividend for 2018 Scrip Dividend Programme On 26 July 2018, the Directors of BP p.l.c. announced that the interim dividend for the second quarter 2018 would be US$0.1025 per ordinary share (US$0.615 per ADS) (see RNS Number: 9448V). This interim dividend is to be paid on 21 September 2018 to shareholders on the share register on 10 August 2018. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. A scrip dividend alternative will be made available for this dividend allowing shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs. The 'Reference Share Price' for the issue of new ordinary shares under the scrip dividend alternative is: US$7.099 for each new ordinary share. For holders of ordinary shares this is equivalent to 1 new share for approximately every 69.259 shares held prior to the ex-dividend date of 9 August 2018. The Reference Share Price is the average of the US dollar equivalent of the closing mid price quotation for a BP ordinary share on the London Stock Exchange Daily Official List for the five consecutive dealing days beginning on the ex-dividend date of 9 August 2018. The US dollar equivalent price each day is calculated from the sterling closing mid price using an exchange rate published in the London Stock Exchange Daily Official List. The 'Reference ADS Price' for the issue of new ADSs under the scrip dividend alternative is: US$42.644 for each new ADS. For holders of ADSs this is equivalent to 1 new ADS for approximately every 69.340 ADSs held prior to the ex-dividend date of 9 August 2018. The Reference ADS Price is calculated by multiplying the Reference Share Price by six (as there are six ordinary shares underlying each ADS) and adjusting for the fee payable to the Depositary under the ADS Deposit Agreement (US$0.05 per ADS). Prior to the 2012 first quarter dividend payment stamp duty reserve tax ("SDRT") of 1.5% was deducted from this calculation, but following a tax tribunal decision in 2012, HM Revenue & Customs will no longer seek to impose 1.5% SDRT on issues of UK shares and securities to non-EU clearance services and depositary receipt systems. Dividends payable in cash in sterling on 21 September 2018 will be converted from US dollars at the average of the market exchange rates for the four dealing days from 5 to 10 September 2018. The sterling cash dividend will be announced to the London Stock Exchange on 11 September 2018. The latest date for receipt of elections to participate in the Scrip Dividend Programme for this interim dividend is 4 September 2018. Shareholders must return their mandate form or otherwise input their CREST elections, to be received by BP's Registrar, Link, by 5.00 pm (London time) on 4 September 2018, and ADS holders must return their election form to the Depositary, JPMorgan Chase Bank N.A., by 5.00 pm (New York time) on that date. Elections received after this deadline will apply to subsequent dividends only. Unless revoked by you, your scrip dividend election will apply for all future dividends for which a scrip dividend is offered. Evergreen elections for CREST shareholders will not be accepted and elections will revert to cash by default after the payment of each dividend. Details of the second quarter 2018 dividend and timetable are available at www.bp.com/dividends and details of the Scrip Dividend Programme are available at www.bp.com/scrip. 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 rns@lseg.com or visit www.rns.com. END DIVFQLFFVVFEBBF (END) Dow Jones Newswires August 16, 2018 07:54 ET (11:54 GMT)
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