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?

20Oct2018- Today, I heard on R4 that BP would be tapping into large N.Sea reserves by 2020 - a large one near Shetland Isles -( was it?).... yet no mention in RNS today and sp is down a tad.
+The only BP-News I could find was a middle-East investment can go through with profits in Escrow, until US embargos are lifted. ( Skinny's link to Telegraph).

Group results Third quarter and nine months 2018

Highlights

Strong earnings driven by high reliability and major project delivery

• Strong earnings and cash flow:

- Underlying replacement cost profit for the third quarter of 2018 was $3.8 billion, more than double a year earlier and the highest quarterly result in more than five years, including significant earnings growth from the Upstream and Rosneft.

- Operating cash flow excluding Gulf of Mexico oil spill payments for the quarter was $6.6 billion, including a $0.7 billion working capital build (after adjusting for inventory holding gains).

- Gulf of Mexico oil spill payments in the quarter were $0.5 billion on a post-tax basis.

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

• Strong operating performance:

- Very good reliability, with the highest quarterly refining availability for 15 years and BP-operated Upstream plant reliability of 95%.

- Reported oil and gas production was 3.6 million barrels of oil equivalent a day. Upstream underlying production, which excludes Rosneft and is adjusted for portfolio changes and pricing effects, was 6.8% higher than a year earlier, driven by ramp-up of new projects. Rosneft production of 1.2 million barrels of oil equivalent a day was 2.8% higher than last year.

• Strategic delivery:

- The Thunder Horse Northwest expansion project in the Gulf of Mexico and the Western Flank B project in Australia began production in October, both ahead of schedule. They are BP's fourth and fifth Upstream major projects to start up in 2018.

- Further expansion in fuels marketing, with now around 1,300 convenience partnership sites worldwide and network growth in Mexico.

• BHP transaction:

- The acquisition from BHP is expected to complete on 31 October.

- Reflecting confidence in cash generation and continued capital discipline, and assuming oil prices remain firm in the recent trading range, BP now expects to fund the entire transaction from available cash, rather than using equity for the deferred consideration. In this case, proceeds from the associated $5-6 billion of divestments will be used to reduce net debt.

more.....

RBC Capital Markets Top pick 554.80 700.00 Reiterates

Barclays Capital Overweight 565.20 705.00 Reiterates

Deutsche Bank Buy 565.20 620.00 Reiterates

IC suggests SELL, as BP is suffering from reduced oil demand as well as other woes. They suggest that Bib Dudley has made a good job of turning the stock around ( since Deepwater disadster), but from now, it has nowhere further to go . . . . anyone agree?

"It has nowhere to go...."!

BP buys UK's biggest electric car charger network for £130m

The future of electric vehicles

Lightsource BP: one year on and going global


From a year ago :- What Are Analysts Saying About The Future Of BP pl.c.’s (NYSE:BP) Business?

As renewables soar, BP sees China hitting brakes on energy growth.

Thanks for that Skinny, if only our useless Government would support our renewable industries in the UK instead of constantly undermining them.