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Articles by BP plc
bp reshapes Canada portfolio for strong future growth Original
Starlee Sykes, bp senior vice president, Gulf of Mexico & said: "This is an important step in our plans to create a more focused, resilient and competitive business in Canada. Bay du Nord will add sizeable acreage and a discovered resource to our existing portfolio offshore Newfoundland and Labrador.
bp & Linde plan major CCS project to advance decarbonization efforts across Texas Gulf Coast Original
As part of the project, bp will appraise, develop and permit the geological storage sites for permanent sequestration of the CO 2. bp's trading and shipping business aims to bring custom low carbon solutions to the project, including renewable power and certified natural gas, along with commodity trading and price risk management expertise. Linde will use its proprietary technology and operational expertise to capture and compress the CO 2 from its hydrogen production facilities for the project.
1Q22 SEA Part 1 of 1
BP PLC 1Q22 SEA Part 1 of 1 Released 07:00:14 03 May 202203 May 2022 London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.
BP to offload Rosneft stake, Russian companies sink on London market, Associated British Foods contends with margin pressures | Monday 28 Feb 2022
“In a move that feels seismic but at the same time completely unsurprising, BP has announced plans to offload its stake in Russian oil company Rosneft,” says Russ Mould, Investment Director at AJ Bell. “Remaining invested in Rosneft could almost be literally construed as fuelling the Russian war effort and that would not have been a sustainable position for much longer. Despite the financial cost shareholders are likely to be relieved that BP has taken pre-emptive action.
The bp-operated well, drilled to a depth of approximately 19,000 feet, is located southeast of the Na Kika platform, approximately 140 miles off the coast of New Orleans. The project provides infrastructure for future well tie-in opportunities. bp and Shell each hold a 50 percent working interest in the Herschel development.
BP beats expectations amid windfall tax calls, Ocado still lacking profit, and Hong Kong markets dip on new Covid restriction fears | Tuesday 08 Feb 2022
BP “BP followed Shell by reporting bumper profits but both companies probably wished the timing didn’t coincide with the rise in the UK energy price cap which piles pressure on households already facing a cost of living crisis,” says Russ Mould, Investment Director at AJ Bell.
bp helps establish coalition to support transportation carbon pricing program
HOUSTON, Sept. 24, 2020 /PRNewswire/ -- bp and five additional businesses from a range of industries announced they are launching an integrated advocacy campaign to encourage a group of East Coast states to enact the Transportation and Climate Initiative (TCI), a regional carbon pricing policy designed to reduce emissions from the transportation sector.
bp expands fuel discount for active military personnel, veterans, teachers and students
CHICAGO, Aug. 24, 2020 /PRNewswire/ -- bp continues to support American motorists by offering a special discount of up to 15 cents per gallon on every fill-up at bp and Amoco stations for 60 days for active military personnel, veterans, teachers and students. Program sign-up is available through bp.com/bpsupportsthecommunity and eligibility will be verified through a link to ID.me.
David C. Lawler named next chief of bp America
HOUSTON, May 28, 2020 /PRNewswire/ -- bp today announced that David C. Lawler, CEO of bpx energy, will add to his portfolio the responsibilities of chairman and president of bp America Inc., succeeding Susan Dio on July 1, 2020. Lawler will become bp's chief representative in the United States. With 13,000 employees and $30 billion invested since 2016, bp has a larger economic footprint in the U.S. than anywhere else in the world.
David C. Lawler named next chief of bp America
HOUSTON, May 28, 2020 /PRNewswire/ -- bp today announced that David C. Lawler, CEO of bpx energy, will add to his portfolio the responsibilities of chairman and president of bp America Inc., succeeding Susan Dio on July 1, 2020. Lawler will become bp's chief representative in the United States. With 13,000 employees and $30 billion invested since 2016, bp has a larger economic footprint in the U.S. than anywhere else in the world.
Games Workshop hits on the right formula and Somero’s profit warning out of management control | Friday 07 Jun 2019
“The FTSE 100 was back above the 7,300 level on Friday as investors flocked to snap up big names with lots of dollar-denominated earnings including British American Tobacco, Evraz, Ashtead and Ferguson,” says Russ Mould, Investment Director at AJ Bell.
Output growth supports the cash flow that bolsters dividends at BP | Tuesday 30 Apr 2019
For the fourth quarter in a row, BP has paid a quarterly dividend of 10.25 cents, up from 10 cents a year ago. That year-on-year increase, supported by increased output and this quarter’s increase in the oil price, means the shares are offering a dividend yield of around 5.6% for 2019, which may appeal to income-seekers. That only ranks the stock the twenty-fourth highest yielder in the FTSE 100, but that is in itself a bit of a back-handed compliment from investors.
Ocado and HMV | Tuesday 05 Feb 2019
Tuesday, February 5, 2019 - 09:43 “It’s the usual story of oils and miners to the rescue with the likes of BP and Glencore helping to drive up the FTSE 100 by 0.5% to 7,070. Markets were strong last night on Wall Street and this momentum extended to parts of Europe on Tuesday including a 0.4% rise in the German DAX index to 11,219.
Brexit divides the UK stock market | Thursday 29 Nov 2018
“The UK continues to be the most disliked region by fund managers, as shown in the most recent Bank of America Merrill Lynch fund manager survey, with professional investors underweight the region. This view is echoed by retail investors, who have been consistently selling UK funds since the EU referendum – with £10.5bn withdrawn from the funds since the Brexit vote," comments Laura Suter, AJ Bell Personal Finance Analyst.
Cash flow supports BP dividend and share price as oil major looks to start growing its output once more | Tuesday 30 Oct 2018
“For the second straight quarter in a row, BP has paid a quarterly dividend of 10.25 cents, up from 10 cents a year ago. That year-on-year increase, coupled with autumn’s slide in the share price, means the shares are offering a dividend yield of almost 6% for 2018 and 2019,” says Russ Mould, AJ Bell investment director.
Cash flow finally starts to gush at BP but concerns over BHP deal overshadow dividend increase | Tuesday 31 Jul 2018
“Gone are the days when BP was offering a dividend yield of 7% to 8% and that is actually a good thing, because it means investors are no longer demanding such a high return to compensate themselves for the risks associated with holding the shares,” says Russ Mould, AJ Bell Investment Director.
FTSE 100 slides as U.S. tech woes weigh on global markets
U.K. stocks stumbled Wednesday, tracking a fall in U.S. equities in the previous session, in which technology names took a hammering. The FTSE 100 index UKX, -0.74% dropped 0.7% to 6,950.60, as only the utilities sector — considered defensive — moved higher. That fall contrasts with Tuesday’s jump of 1.6% , which put an end to a four-session losing streak. The London blue-chip benchmark has lost more than 9% this year.
Self-driving cars could slash Uber, Lyft prices by 50%, BP chief economist says
Uber and Lyft are already giving cabdrivers a serious headache, but the competition could get even worse in coming years as self-driving cars start roaming the roads. As part of the rapid development in electric vehicles, fully autonomous cars are likely to hit the streets in the early 2020s and that will have a major, positive impact on ride-sharing services such as Uber and Lyft, according to BP’s BP., -0.94% BP, -1.72% chief economist Spencer Dale.
OPEC calls for $10 trillion in investment to guarantee adequate oil supply
The oil industry collectively needs at least $10 trillion in fresh investment by 2040 to ensure there is enough supply to meet demand from the world’s growing population, the president of OPEC said. Speaking in London on Tuesday, UAE Energy Minister Suhail bin Mohammed al-Mazroui — who holds the presidency of the Organization of Petroleum Exporting Countries in 2018 — called for the investment as the market starts to rebalance after years of oversupply.
FTSE 100 moves solidly higher as oil and mining stocks rise
U.K. blue-chip stocks on Thursday were pulled higher, with advances for mining and oil shares setting the market on course for a second straight rise. The sector gains came as prices of oil and metals gained, partly due to a fall in the U.S. dollar Wednesday after mixed economic data. The FTSE 100 UKX, +0.52% added 0.5% to 7,252.64, led by the basic materials and oil and gas groups. Together, those groups make up nearly 25% of the benchmark’s weighting, according to FactSet data.
U.K. stocks return to red with BOE’s ‘Super Thursday’ ahead
U.K. stocks moved into negative territory on Thursday, tracking a lower finish in the U.S., with investors staying cautious ahead of the Bank of England’s “Super Thursday”. Resource companies were among biggest decliners, hit by a stronger dollar after U.S. Congressional leaders agreed to a two-year budget deal. What are markets doing? The FTSE 100 index UKX, -0.49% dropped 0.4% to 7,246.81, setting it on track for a 2.6% weekly slide.
U.K. stocks fall to 10-month low in global market rout
U.K. stocks dropped and headed for their lowest close in almost 10 months on Tuesday, tracking a selloff in the U.S. where stocks fell by the most in more than six years. What are markets doing? The FTSE 100 index UKX, -1.74% fell 1.6% to 7,218.50, setting it on track for its lowest close since April 2017, according to FactSet data. The index traded as low as 7.079.41 — a 3.5% decline — but started to trim losses as U.S. stock futures swung into positive territory.
European stocks track Wall Street lower, as bond selloff prompts caution
European stocks fell Tuesday, tracking losses across global markets, as investors grew increasingly concerned about a sharp rise in U.S. bond yields and its impact on the cost of borrowing. Heavily-weighted oil companies led the decliners, as crude-oil prices came under pressure. Banks were also taking a hit across the board, after a strong start to 2018. What are markets doing? The Stoxx Europe 600 index SXXP, -0.42% fell 0.3% to 398.56, on the heels of a 0.2% loss on Monday.
FTSE 100 scrabbles to hold onto record, as BP falls
Blue-chip stocks edged lower Tuesday, pulled lower by a fall in shares of BP PLC after the energy heavyweight said it will take a $1.7 billion charge related to the Deepwater Horizon disaster. Traders were focused an update on U.K. inflation, expected to show a slight slowdown. How markets are moving: The FTSE 100 index UKX, +0.17% slipped 2 points to 7,767.55, with the oil and gas, and basic materials sectors in the red. But the consumer goods group led the sector advancers.
Oil majors power FTSE 100 higher as Iran tensions stir energy markets
U.K. stocks rose for a second straight session on Thursday, with energy companies among the biggest gainers as oil prices continued their rally to trade around a three-year high. What is the market doing: The FTSE 100 index UKX, +0.11% added 0.2% to 7,685.34, setting it on track for its highest close since Friday, Dec. 29, when it scored an all-time high. The pound GBPUSD, +0.1554% bought $1.3526, compared with $1.3516 late Wednesday in New York.
European stocks set for 2-week high, boosted by car makers and oil majors
European stock markets posted broad-based gains on Thursday, joining a global rally that has taken Japan’s benchmark index to a 26-year high and sent all three major U.S. indexes to fresh records. Energy majors helped propel equity markets higher in Europe as oil prices hit a three-year high, while car maker shares jumped after better-than-expected U.S. auto sales data.
FTSE 100 fights for firm direction as inflation hits highest in almost 6 years
U.K. blue-chip stocks on Tuesday struggled around two-week highs, as shares of oil producers were pulled higher by a rise in crude prices, but some supermarket shares were dragged down by new industry sales figures. All the moves come ahead of the release of British consumer price data for November, due later in the session. The inflation reading is key to policy decisions by the Bank of England, which will send out an update on its interest rate stance on Thursday.
European stocks climb for 3rd day, as Credit Suisse propels bank rally
After a wobbly start to the trading day, European stocks headed higher on Thursday. The pan-European index was lifted by broad-based gains in the banking sector, after Credit Suisse Group AG provided an upbeat outlook and vowed to return a large chunk of profits to investors. Oil companies, however, were trading mixed as the closely watched OPEC meeting got under way in Vienna.
FTSE 100 set to break 5-day losing run as oil stages slight rebound
U.K. stocks rose for the first time in six sessions on Thursday, boosted by a rebound in oil prices and taking inspiration from an upbeat day in Asia. On the economic docket, U.K. retail sales are the highlight for the day when they come out at 9:30 a.m. London time, or 4:30 a.m. Eastern Time. What markets are doing: The FTSE 100 index UKX, -0.03% was slightly higher at 7,374.91, after ending at its lowest level since Sept. 28 on Wednesday following five straight sessions of losses.
Commodity stocks pull FTSE 100 toward fifth straight decline
Stocks in the U.K. fell Wednesday, heading for a fifth straight loss, as a slide in oil prices pulled energy producer shares lower. Elsewhere in commodities, a drop in metals prices knocked down prices for miners. After a disappointing reading on inflation Tuesday, investors are focused on U.K. wages figures due later, likely to play a part in the Bank of England’s deliberations on the path of interest rates. What markets are doing: The FTSE 100 index UKX, -0.41% dropped 0.4% to 7,383.17.
FTSE 100 hovers around record high as miners advance
U.K. blue-chip stocks steadied around record highs Monday, with commodity stocks among those gaining ground. What markets are doing: The FTSE 100 index UKX, -0.09% was down less than 1 point at 7,560.27. Commodity, utility, tech and health care shares strengthened, but financial, consumer services and industrials shares lost ground. On Friday, the benchmark rose 0.1% to 7,560.35, the highest close on record. It also finished last week up by 0.7%. bouncing back after two weeks of declines.
European stocks stick around 5-month highs, cruise toward October gain
Stocks across Europe stuck around five-month highs Tuesday, with the last session of what’s set to be a winning month of October seeing share-price gains for airline Ryanair Holdings PLC and oil major BP PLC. What stock indexes are doing: The Stoxx Europe 600 index SXXP, +0.27% picked up 0.2% to 394.70, with only the telecommunications sector in the red. The index on Monday rose 0.1%, enough to score its highest close since May 16.
FTSE 100 advances as BP shares rally to 3-year high
Stocks in the U.K. rose on Tuesday, and a jump in BP PLC shares after the oil major’s quarterly results could help the blue-chip market wrap up October trade with a win. What markets are doing: The FTSE 100 index UKX, +0.31% rose 0.3% to 7,510.39, led by the oil and gas and utility sectors. But the consumer goods and services and basic materials sectors were among those moving lower. On Monday, the index fell 0.2%.
European stocks waver after North Korea sparks fresh fears of nuclear war
European stocks struggled for direction in Tuesday’s trade, as traders digested the latest flare up in U.S.-North Korea tensions and as the euro continued to slide after Germany’s general election over the weekend. The Stoxx Europe 600 index SXXP, +0.15% was marginally lower at 383.85, and was swinging between small gains and losses. Most country-specific indexes were seesawing after North Korea’s foreign minister late in Monday’s session claimed the U.S. has declared war on the isolated state.
FTSE 100 heads for 1.3% weekly gain as Draghi, Yellen prepare to speak
U.K. stocks moved cautiously higher on Friday, as investors looked ahead to speeches from the U.S. and eurozone central-bank heads at the Jackson Hole summit later in the day. The FTSE 100 index UKX, +0.20% rose 0.2% to 7,420.66, after closing at its highest level since Aug. 16 on Thursday. The London blue-chip index was on track for a 1.3% weekly gain. U.K. stocks are closed for trade on Monday due to a bank holiday.
European stocks fight for gains as countdown to Draghi speech begins
European stock markets swung between small gains and losses Friday, as investors geared up for the main event of the week: speeches from the heads of the eurozone and U.S. central banks at Jackson Hole, Wyo. The Stoxx Europe 600 index SXXP, +0.22% traded 0.3% higher at 375.74, after closing 0.2% higher on Thursday. The pan-European benchmark was on track for a 0.4% weekly gain.
European stocks struggle as oil and bank shares are dragged down
Stocks in Europe ebbed lower Wednesday, as energy shares pulled back alongside a drop in oil prices, while France’s Société Générale SA and other bank stocks suffered. The Stoxx Europe 600 SXXP, -0.23% slipped 0.2% to 379.37, led by oil and gas, basic material and financial stocks. But advancers included consumer services, health care and tech stocks. The pan-European benchmark on Tuesday closed up 0.6%. Off the main indexes, Frankfurt-listed shares of Apple Inc. APC, +6.67% jumped 6.3%.
FTSE 100 marches higher as BP, Rolls-Royce shares advance
U.K. blue-chip stocks pushed higher Tuesday, with shares of BP PLC and Rolls-Royce Holdings PLC gaining after respective earnings reports from the oil major and the engine manufacturer. The FTSE 100 UKX, +0.54% moved up 0.4% to 7,402.96, led by industrial and oil and gas stocks. But basic materials shares sagged. The benchmark on Monday closed up 0.1% and logged a July rise of 0.8%.
European stocks rise on wave of earnings, with GDP in focus
Stocks in Europe gained ground Tuesday, as the start of trading in August saw oil major BP PLC climb after its earnings report, while investors looked toward the first reading of second-quarter economic growth for the eurozone. The Stoxx Europe 600 SXXP, +0.45% tacked on 0.4% at 379.33. All sectors rose, led by industrial stocks and oil and gas shares. The pan-European index on Monday slipped 0.1% to close at its lowest since April.
FTSE 100 advances with oil stocks up; Jimmy Choo rallies
U.K. blue-chip stocks advanced Tuesday, with well-received corporate updates and gains for oil producers helping the market's benchmark chip away at a sharp loss logged in the previous session. The FTSE 100 index UKX, +0.58% popped up 0.5% to 7,413,89, with only a few components in the red. Among them, shares of Wm. Morrison Supermarkets PLC MRW, -0.53% fell 0.8% after the company’s market share fell to 10.5% in the 12 weeks to July 16, according to Kantar.
Airlines, oil stocks put FTSE 100 under pressure
Blue-chip stocks in the U.K. fell Monday, with airlines pulled lower after a warning from Ryanair and OPEC’s monthly meeting casting a shadow on oil and gas shares. The FTSE 100 index UKX, -0.56% dropped 0.4% to 7,422.66, with all sectors moving lower. The benchmark on Friday lost 0.5%, but notched a weekly advance of 1%, its best such showing late May, according to FactSet data.
FTSE 100 edges up, reaches for a weekly win
U.K. stocks notched small gains on Friday, putting Britain’s blue-chip benchmark on track for its best week in more than two months, even as stock markets across Europe broadly fell. Vodafone PLC was a standout as shares of the mobile telecoms company drove higher, but oil majors lost ground ahead of a meeting of the Organization of the Petroleum Exporting Countries. The FTSE 100 index UKX, +0.19% was up 0.1% at 7,493.78, with consumer-related and health care shares rising.
FTSE 100 slips as AstraZeneca slides
U.K. stocks edged down Thursday, with drug maker AstraZeneca PLC weighing on the London blue-chip benchmark a day after it logged its biggest gain in more than two months. The FTSE 100 UKX, +0.04% was down 0.2% at 7,404.57, led lower by health care, tech and oil and gas shares.
Buy these 3 energy winners — and avoid this trio of losers
For energy investors, the past few years have been one crazy ride. Anyone who tried to catch a falling knife in the energy sector across the waterfall declines of 2014 and 2015 probably lost a few fingers. As crude-oil prices CLQ7, +0.87% crashed from over $90 in mid-2014 to under $40 at the beginning of 2016, the carnage included a more than 40% decline for oil major BP BP, +1.77% BP., +1.85% and a decline of more than 50% for energy service stock HAL, +0.89% Then 2016 brought stability.
European stocks rise, lifted by oil firms and Burberry
European stocks broadly rose on Wednesday, lifted by a rally in oil stocks and with Burberry driving luxury goods stocks higher after a well-received trading update. The Stoxx Europe 600 index SXXP, +0.59% rose 0.6% to 381.38, rebounding from a 0.7% loss on Tuesday. In focus on Wednesday, U.S. Federal Reserve Chairwoman Janet Yellenwill give a testimony before Congress at 3 p.m. London time, or 10 a.m. Eastern Time.
FTSE 100 steady as investors puzzle over Fed minutes
U.K. stocks held steady Thursday, as investors digested the latest minutes from the U.S. Federal Reserve, which seemed to have left some confused as to the central bank’s plan of action. Among big stock movers, Reckitt Benckiser Group PLC shares dropped after a sales warning prompted by a cyberattack, while Associated British Foods PLC shares jumped after an upbeat outlook. The FTSE 100 UKX, -0.11% shed 0.1% to 7,358.36, as tech, consumer, commodity and industrial shares fell.
FTSE 100 falls back into the red, as oil majors and miners decline
U.K. stocks fell Tuesday as energy producers and miners lost ground, while shares in supermarket chain J Sainsbury PLC gained after an upbeat sales update. The FTSE 100 UKX, -0.29% declined 0.5% to 7,340.42. All sectors were in the red, led by shares of resource producers. Trading volume is expected be lower than usual as the U.S. marks the Independence Day holiday. On Monday, the London index snapped a four-session losing streak by settling up 0.9% as oil prices rallied.
FTSE 100 on track to break 4-day losing streak as oil rallies
U.K. stocks rose for the first time in five sessions on Monday, lifted by shares of energy and mining giants as oil prices gained and data showed a rebound in China’s manufacturing activity. The FTSE 100 index UKX, +0.48% gained 0.4% to 7,342.37, after ending at the lowest level since early May on Friday. Among the biggest gainers, shares of BP PLC BP., +1.26% BP, -0.60% climbed 1% and Royal Dutch Shell PLC RDSB, +1.36% RDS.B, -0.33% gained 0.7%.
FTSE 100 falls as oil’s slide pulls energy majors lower, pound holds to gains
U.K. blue-chip stocks dropped Wednesday, under pressure from a strengthening pound and from losses for the key oil sector. The FTSE 100 UKX, -0.52% was down 0.5% to 7,399.99. The consumer services sector was the only one higher, while the oil and gas and tech groups led decliners. The London benchmark on Tuesday fell 0.2%, its fifth loss in six sessions. On Wednesday, Royal Dutch Shell PLC RDSB, -0.92% RDS.B, +1.26% declined 1.1% and BP PLC BP., -0.73% BP, +0.77% gave up 0.8%.
FTSE 100 breaks 4-day losing streak as oil rallies
U.K. stocks closed higher for the first time in five sessions on Monday, with energy companies aiding in the charge north as oil prices continued to rebound after a recent selloff. The FTSE 100 index UKX, -0.17% gained 0.3% to end at 7,446.80, after logging its lowest close since June 15 on Friday. Oil heavyweights Royal Dutch Shell PLC RDSB, +1.07% RDS.B, +1.26% and BP PLC BP., +0.55% BP, +0.77% both picked up 0.3%.
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