Sharesmagazine
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Share Price   Awards   Market Scan   Videos   Broker Notes   Director Deals   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Indices   Forward Diary   Forex Prices   Shares Magazine   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Comparison Tables   Spread Betting 
You are NOT currently logged in
 
Register now or login to post to this thread.

OIL TO BOUNCE BP BACK (BP.)     

l2e - 30 Apr 2003 07:12

BP dissapointed private investors as the share price slid even though a
Massive 136 percent jump in profits were recorded for the last quarter.
This was already expected and comments from Lord Browne saying falls in oil expected have brought also helped the stock down.
He says can stand oil price even below $16 pb
The hostage situation in Nigeria getting bad maybe BP putting on some weight today?
Locals want enviroment cleaned up and profits shared.
Any chance?

Chart.aspx?Provider=EODIntra&Code=BP.&Si

HARRYCAT - 11 Mar 2016 12:22 - 603 of 688

.

HARRYCAT - 15 Apr 2016 11:11 - 604 of 688

Exane BNP Paribas today reaffirms its neutral investment rating on BP PLC (LON:BP.) and set its price target at 340p.

HARRYCAT - 26 Apr 2016 08:19 - 605 of 688

StockMarketWire.com
BP's underlying replacement cost profit for the first quarter was $532 million, compared with $196 million for the previous quarter and $2.6 billion for the first quarter of 2015.

Compared with the previous quarter, lower costs throughout the Group more than offset the impact of significantly weaker oil and gas prices and refining margins.

BP posts a loss of $583m - down from $3.3bn in the previous quarter and a profit of $2.6bn a year ago.

BP has announced an unchanged dividend for the quarter of 10c per ordinary share, expected to be paid in June.

Group chief executive Bob Dudley said: "Despite the challenging environment, we are driving towards our near-term goal of rebalancing BP's cash flows. Operational performance is strong and our work to reset costs has considerable momentum and is delivering results. Furthermore, development of our next wave of material upstream projects is well on track."

The Brent oil marker price averaged $34 a barrel in the quarter, compared with $44 in 4Q 2015 and $54 in 1Q 2015, and refining margins were at the lowest quarterly average for over five years. Brent prices have so far averaged $40 in the second quarter.

"Market fundamentals continue to suggest that the combination of robust demand and weak supply growth will move global oil markets closer into balance by the end of the year," added Dudley.

Underlying operating cash flow in the first quarter was $3.0 billion. This excluded $1.1 billion of payments related to the Gulf of Mexico oil spill which were offset by divestment proceeds of $1.1 billion. Operational performance continued to be strong with reliability of Upstream operated assets and refining availability both at 95%.

Organic capital expenditure in the first quarter was $3.9 billion compared to $4.4 billion in the first quarter of 2015. BP now expects total organic capital expenditure in 2016 to be around $17 billion and, in the event of continued low oil prices, sees flexibility to move to $15-17 billion in 2017.

Costs are also reducing; BP's cash costs over the last four quarters were $4.6 billion lower than in 2014. BP expects cash costs for 2017 to be $7 billion lower than for 2014.

Chief financial officer Brian Gilvary said: "As we steadily take out more costs, the point at which we expect to be able to rebalance 2017 organic sources and uses of cash continues to move lower; we currently anticipate being able to achieve this at oil prices in the range $50-55 a barrel. This progress underpins our commitment to sustaining BP's dividend as the first priority within our financial frame. Should prices remain low, we have the flexibility to adjust further within the financial framework."

At the end of the quarter BP's gearing level was 23.6%. Following the finalisation of the settlement of federal and state claims arising from the Deepwater Horizon accident, and to allow more flexibility in the current volatile oil price environment, BP intends to return to managing gearing within its historical range of 20-30%.

skinny - 03 Jun 2016 09:30 - 606 of 688

Deepwater Horizon - MDL 2185 Securities Litigation

In May 2014, the federal district court certified a class of post-explosion ADS purchasers in the MDL 2185 securities litigation. BP and representatives of the post-explosion class have agreed to settle these class claims for the amount of $175 million, payable during 2016-2017, subject to approval by the court. This settlement does not resolve other securities-related litigation in connection with the Gulf of Mexico oil spill.


-- ENDS --

skinny - 03 Jun 2016 09:30 - 607 of 688

02 Jun Exane BNP Paribas Neutral 360.55 350.00 350.00 Reiterates

01 Jun Barclays Capital Overweight 360.55 550.00 550.00 Reiterates

31 May HSBC Buy 360.55 410.00 410.00 Reiterates

skinny - 08 Jun 2016 11:44 - 608 of 688

07 Jun Barclays Capital Overweight 376.38 550.00 550.00 Reiterates

skinny - 10 Jun 2016 07:03 - 609 of 688

Det norske & BP join forces in Norway

Det norske and BP join forces to grow Norway's
leading independent oil and gas producer

Deal creates strategic platform for long-term growth in Norway, combining Det norske's efficient operating model with BP's experience and technical expertise

BP and Det norske oljeselskap today announced the creation of Aker BP ASA, an independent oil and gas company combining the assets and expertise from both companies' Norwegian exploration and production operations to form the largest Norwegian independent oil and gas producer.

BP group chief executive Bob Dudley commented: "BP and Aker have matured a close collaboration through decades, and we are pleased to take advantage of the industrial expertise of both companies to create a large independent E&P company. The Norwegian Continental Shelf represents a significant opportunity going forward and we are looking forward to working together with Aker to unlock the long term value of the company through growth and efficient operations. This innovative deal demonstrates how we can adapt our business model with strong and talented partners to remain competitive and grow where we see long-term benefit for our shareholders."

Under the terms of the proposed transaction, the BP Norge and Det norske businesses will combine and be renamed Aker BP ASA. Aker BP will be independently operated and listed on the Oslo Stock Exchange. Aker BP will be jointly owned by current Det norske shareholder Aker (40%), other Det norske shareholders (30%) and BP (30%). BP will also receive a cash payment of $140 million plus positive working capital adjustments as part of the transaction.

Øyvind Eriksen, chairman of the board of directors in Det norske commented: "Aker BP will leverage on Det norske's efficient operations, BP's international capabilities and Aker's 175 years of industrial experience. Together, we are establishing a strong platform for creating value for our shareholders through our unique industrial capabilities, a world-class asset base, and financial robustness."

The completion of the transaction, which is expected by the end of 2016, is subject to customary closing conditions, regulatory review and approval by Det norske shareholders. All of BP Norge's roughly 850 employees will transfer to the combined organization upon completion of the deal.

In addition to the attractive combination of the two companies' Norwegian asset portfolios, Aker BP will benefit from the combined strength of Det norske's efficient, streamlined operating model and BP's long experience in Norwegian offshore operations, asset knowledge, technical skills and international experience. The companies believe this new Norwegian super-independent could organically grow production to more than 250,000 barrels of oil equivalent per day by the early 2020s.

more....

skinny - 07 Jul 2016 14:51 - 610 of 688

13+ month high @458.55p.

HARRYCAT - 11 Jul 2016 09:20 - 611 of 688

Jefferies International today reaffirms its hold investment rating on BP PLC (LON:BP.) and raised its price target to 400p (from 340p).

skinny - 15 Jul 2016 14:14 - 612 of 688

Why BP is heading to 600p

skinny - 26 Jul 2016 07:43 - 613 of 688

BP second quarter 2016 results

· Draws a line under Deepwater Horizon liabilities at $61.6 billion.

· Strong operations and cash flow
o Underlying replacement cost profit $720 million
o Underlying operating cash flow $5.5 billion
o Further progress in resetting costs and capital

· Clear plans for growth
o New wave of Upstream major project start-ups delivering growth to 2020
o Capacity to sustain Upstream growth beyond 2020 into long-term
o Downstream resilience and access to growth markets

· Dividend unchanged for September payment

more...

skinny - 26 Jul 2016 09:52 - 614 of 688

Barclays Capital Overweight 429.35 600.00 600.00 Reiterates

skinny - 04 Oct 2016 09:23 - 615 of 688

Barclays Capital Overweight 464.13 600.00 600.00 Reiterates

HARRYCAT - 01 Nov 2016 07:32 - 616 of 688

StockMarketWire.com
BP reports a profit for the third quarter of 2016 of $933 million on an underlying replacement cost basis.

This compares to $720 million profit for the previous quarter and $1.8 billion for the third quarter of 2015. The quarter's result was affected by a weaker price and margin environment. It was also negatively impacted by a number of mainly one-off and non-cash items in the Upstream.

However, the result also included benefits from lower cash costs being incurred throughout the group and a positive one-time tax credit. Underlying operating cash flow, which excludes pre-tax Gulf of Mexico payments, was $4.8 billion for the quarter. It was $13.3 billion for the first nine months of the year, benefiting from reliable operations and lower cash costs.

BP announced an unchanged dividend for the quarter of 10c per ordinary share, expected to be paid in December. Chief financial officer Brian Gilvary said: "We continue to make good progress in adapting to the challenging price and margin environment. We remain on track to rebalance organic cash flows next year at $50 to $55 a barrel, underpinned by continued strong operating reliability and momentum in resetting costs and capital spending.

"At the same time we are investing in the projects, businesses and options to deliver growth in the years ahead." BP's cash costs over the past four quarters were $6.1 billion lower than in 2014, continuing the Group's progress towards 2017 cash costs being $7 billion lower than in 2014.

BP's expectation for 2016 organic capital expenditure was reduced again and it is now expected to total around $16 billion, compared to original guidance of $17-19 billion given at the start of the year.

BP expects capital expenditure in 2017 to be between $15 billion and $17 billion. Cash divestment proceeds for the year to date, including the partial sale of BP's shareholding in Castrol India, are now $2.7 billion. At the end of the third quarter, BP's gearing level was 25.9%, within the targeted 20-30% range.

The Brent oil price averaged $46 a barrel in the quarter, compared with $50 a barrel in 3Q 2015, and gas prices outside the US were also weaker. Refining margins were steeply down from a year earlier, depressed by high product stock levels. BP reported an overall headline profit for the quarter of $1.6 billion, which includes a net gain of $728 million for non-operating items and fair value accounting effects.

This is comparable to a profit of $46 million a year earlier and a loss of $1.4 billion in the second quarter of this year, when significant charges associated with the Gulf of Mexico oil spill were taken.

HARRYCAT - 19 Dec 2016 08:20 - 617 of 688

StockMarketWire.com
BP has agreed a deal with Kosmos Energy to partner on world-class discoveries in Mauritania and Senegal and been awarded a 10% interest in Abu Dhabi's ADCO onshore concession.

BP has signed agreements with Kosmos Energy to acquire a 62% working interest, including operatorship, of Kosmos's exploration blocks in Mauritania and a 32.49% effective working interest in Kosmos's Senegal exploration blocks --acreage which holds world-class deepwater gas discoveries and exploration prospectivity across both countries.

The approximately 33,000 square kilometres of acreage covered by today's agreements includes the Tortue field, estimated by Kosmos to contain more than 15 tcf of discovered gas resources. The total acreage, by Kosmos' estimates, could contain roughly 50tcf of gas resource potential and in excess of 1 billion barrels of liquids resource potential.

BP will invest nearly $1bn mostly in the form of a multi-year exploration and development carry to acquire a 62% interest and operatorship of offshore Blocks C-6, C-8, C-12 and C-13 in Mauritania and an effective 32.49% interest in the Saint-Louis Profond and Cayar Profond blocks in Senegal.

BP chief executive Bob Dudley said: "BP's entry into Mauritania and Senegal represents an exciting strategic opportunity to work with Kosmos Energy in an emerging world-class hydrocarbon basin. We believe our expertise in integrating the gas value chain, together with a talented exploration partner in Kosmos, along with the support of the Mauritanian and Senegalese governments brings together all the elements needed to create a new LNG hub in Africa."

BP has aslo signed an agreement with the Supreme Petroleum Council of the Emirate of Abu Dhabi and the Abu Dhabi National Oil Company (ADNOC) that grants BP a 10% interest in Abu Dhabi's ADCO onshore oil concession, which has a life of 40 years.

In addition to the interest in the ADCO concession, BP becomes a 10% shareholder in ADCO, the Abu Dhabi Company for Onshore Petroleum Operations Limited, which operates the concession. The agreement includes BP becoming asset leader for the Bab asset group within the concession.

In connection with the transaction, BP has agreed to issue new ordinary shares representing approximately 2% of BP's issued share capital (excluding treasury shares), to be held on behalf of the Abu Dhabi Government. The issuance of the new ordinary shares is subject to certain listing requirements and is expected to be completed shortly.

skinny - 19 Dec 2016 09:25 - 618 of 688

From Friday :- 16 Dec Goldman Sachs Neutral 493.35 435.00 505.00 Reiterates

skinny - 21 Dec 2016 11:15 - 619 of 688

2+ year high @499.65p

CC - 03 Jan 2017 13:14 - 620 of 688

After sitting in this trade for nearly 3 years I have finally got out for a 7% profit plus all the dividends I've collected all the way.

I think the share price is being overly supported by cable and as the pound recovers this isn't going to help the share price even if oil continues to climb

skinny - 03 Jan 2017 13:32 - 621 of 688

I'm up @11% on purchases - some going back to November 2010.

I'll continue to hold short term on the potential supply cut - see the link on the Oil thread.

skinny - 13 Jan 2017 13:54 - 622 of 688

2+ year high @521.20p
Register now or login to post to this thread.