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BP PLC (BP_p.L)

BP_p.L on London Stock Exchange

147.00GBp
21 Aug 2019
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Latest Key Developments (Source: Significant Developments)

BP, Reliance To Form Jointly-Owned Fuel Retail Network & Aviation Fuel Business
Tuesday, 6 Aug 2019 

Aug 6 (Reuters) - BP PLC ::BP AND RELIANCE HAVE TODAY SIGNED AN AGREEMENT TO FORM A JOINTLY-OWNED FUEL RETAIL NETWORK AND AVIATION FUEL BUSINESS OPERATING ACROSS INDIA.JOINT VENTURE WILL ALSO INCLUDE RIL'S AVIATION FUELS BUSINESS, WHICH CURRENTLY OPERATES AT OVER 30 AIRPORTS ACROSS INDIA.AGREED TO SET UP A NEW JOINT VENTURE CO, HELD 51% BY RIL AND 49% BY BP, THAT WILL ASSUME OWNERSHIP OF RIL'S EXISTING INDIAN FUEL RETAIL NETWORK.FUEL RETAIL NETWORK, AVIATION FUEL BUSINESS TO START FROM RELIANCE'S NETWORK OF OVER 1,400 RETAIL SITES, AVIATION BUSINESS SERVING 30 AIRPORTS.ANTICIPATED FINAL JV DEALS WITH RELIANCE TO BE REACHED DURING 2019; TRANSACTION WILL BE COMPLETE IN FIRST HALF OF 2020.JV ALSO EXPECTED TO BENEFIT FROM ACCESS TO COMPETITIVE FUELS SUPPLIES FROM RIL'S JAMNAGAR REFINING COMPLEX IN GUJARAT ON WEST COAST OF INDIA.  Full Article

BP And Didi To Form JV To Build Electric Vehicle Charging Infrastructure In China
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - BP PLC ::BP AND DIDI JOIN FORCES TO BUILD ELECTRIC VEHICLE CHARGING NETWORK IN CHINA.BP PLC - BP AND DIDI CHUXING AGREED TO FORM NEW JOINT VENTURE TO BUILD ELECTRIC VEHICLE CHARGING INFRASTRUCTURE IN CHINA.BP PLC - BP AND DIDI INTEND TO EXPAND VENTURE INTO LOYALTY AND CONVENIENCE OFFERINGS AND OTHER FLEET SERVICES IN NEAR FUTURE.BP PLC - BP AND DIDI HAVE ALREADY OPENED A PILOT SITE IN GUANGZHOU IN THE GUANGDONG PROVINCE.BP PLC - PILOT SITE IN GUANGZHOU IN THE GUANGDONG PROVINCE WILL MIGRATE INTO JOINT VENTURE ONCE LIVE.  Full Article

Eni Signs Exploration And Production Sharing Agreement For Block 77, Onshore Oman
Wednesday, 31 Jul 2019 

July 31 (Reuters) - Eni SpA ::SIGNS EXPLORATION AND PRODUCTION SHARING AGREEMENT FOR BLOCK 77, ONSHORE OMAN.DURING EXPLORATION PHASE, ENI AND BP WILL EACH HOLD 50% OF EXPLORATION AND PRODUCTION SHARING AGREEMENT FOR BLOCK 77.WILL ACT AS OPERATOR IN EXPLORATION AND PRODUCTION SHARING AGREEMENT FOR BLOCK 77 ONSHORE OMAN.  Full Article

BP Q2 Underlying RC Profit Above Consensus, Sees Q3 Production Lower Than Q2
Tuesday, 30 Jul 2019 

July 30 (Reuters) - BP PLC ::2Q19 PART 1 OF 1.UNDERLYING REPLACEMENT COST PROFIT FOR Q2 OF 2019 WAS $2.8 BILLION, SIMILAR TO A YEAR EARLIER.WITH START-UP OF CULZEAN IN NORTH SEA THIS QUARTER, FOUR UPSTREAM MAJOR PROJECTS HAVE BEGUN PRODUCTION IN FIRST HALF OF YEAR.IN DOWNSTREAM, QUARTER ON QUARTER GROWTH IN LUBRICANTS AND FUELS MARKETING, MORE THAN OFFSET BY PLANNED TURNAROUNDS AHEAD OF IMO 2020.A DIVIDEND OF 10.25 CENTS A SHARE WAS ANNOUNCED FOR QUARTER.AT MIDPOINT OF OUR FIVE-YEAR PLAN, BP IS RIGHT ON TARGET.Q2 2019 UNDERLYING REPLACEMENT COST PROFIT ESTIMATE $2.46 BILLION – COMPANY-SUPPLIED CONSENSUS.GULF OF MEXICO OIL SPILL PAYMENTS OF $1.4 BILLION ON A POST-TAX BASIS IN Q2 WERE PRIMARILY SCHEDULED ANNUAL PAYMENTS.QTRLY TOTAL REVENUE & OTHER INCOME $73,747 MILLION VERSUS $76,907 MILLION AS REPORTED A YEAR EARLIER.QTRLY NET CASH PROVIDED BY OPERATING ACTIVITIES $6,815 MILLION VERSUS $6,306 MILLION AS REPORTED A YEAR EARLIER.EXPECT Q3 2019 REPORTED PRODUCTION TO BE LOWER THAN Q2 REFLECTING CONTINUED SEASONAL TURNAROUND AND MAINTENANCE ACTIVITIES.RC PROFIT WAS $1,775 MILLION FOR Q2, COMPARED WITH $1,789 MILLION IN 2018.UPSTREAM PRODUCTION, WHICH EXCLUDES ROSNEFT, FOR THE FIRST HALF OF THE YEAR AVERAGED 2,640MBOE/D, 4.2% HIGHER THAN A YEAR EARLIER.NET DEBT AT 30 JUNE 2019 WAS $46.5 BILLION, COMPARED WITH $38.7 BILLION A YEAR AGO.GULF OF MEXICO OIL SPILL PAYMENTS FOR THE FULL YEAR CONTINUE TO BE EXPECTED TO BE AROUND $2 BILLION ON A POST-TAX BASIS.  Full Article

Aker BP signs $4 bln credit facilities
Friday, 24 May 2019 

May 24 (Reuters) - Aker BP ASA ::AKER BP SUCCESSFULLY CLOSES USD 4.0 BILLION SENIOR UNSECURED REVOLVING CREDIT FACILITIES.FOLLOWING STRONG DEMAND FROM BANKS, FACILITIES WERE OVERSUBSCRIBED BY MORE THAN 47%, RESULTING IN AKER BP CHOOSING TO SCALE BACK LARGEST COMMITMENTS AND CLOSING TRANSACTION AS A 17 BANK CLUB DEAL WITH EQUAL TICKETS.FACILITIES COMPRISE A 3-YEAR USD 2.0 BILLION WORKING CAPITAL FACILITY AND A USD 2.0 BILLION 5-YEAR LIQUIDITY FACILITY.LIQUIDITY FACILITY INCLUDES TWO 12-MONTH EXTENSION OPTIONS.FACILITIES WILL BE USED FOR GENERAL CORPORATE PURPOSES AND WORKING CAPITAL AS WELL AS PROVIDING A LIQUIDITY RESERVE.  Full Article

BP Says Upstream CEO Looney Sold About 2 Mln Stg Of Shares
Thursday, 2 May 2019 

May 2 (Reuters) - BP PLC ::SAYS UPSTREAM CEO BERNARD LOONEY SELLS ABOUT 2 MILLION STG WORTH OF SHARES OF CO - FILING.SAYS UPSTREAM CEO BERNARD LOONEY SELLS 347,630 SHARES OF CO AT 5.596 STG/SHARE - FILING.  Full Article

BP Profits Slump But Slightly Beat Forecasts
Tuesday, 30 Apr 2019 

April 30 (Reuters) - BP PLC ::UNDERLYING REPLACEMENT COST PROFIT FOR Q1 OF 2019 WAS $2.4 BILLION, COMPARED TO $2.6 BILLION A YEAR EARLIER.OPERATING CASH FLOW, EXCLUDING GULF OF MEXICO OIL SPILL PAYMENTS, FOR QUARTER WAS $5.9 BILLION.DIVIDEND OF 10.25 CENTS A SHARE ANNOUNCED FOR QUARTER, 2.5% HIGHER THAN A YEAR EARLIER.QTRLY RC PROFIT OF $2,095 MILLION VERSUS. $2,389 MILLION AS REPORTED A YEAR EARLIER.ORGANIC CAPITAL EXPENDITURE FOR Q1 WAS $3.6 BILLION; REPORTED $3.5 BILLION FOR SAME PERIOD IN 2018.INTEGRATION OF US ONSHORE ASSETS ACQUIRED FROM BHP CONTINUES, WITH BP TAKING OPERATIONAL CONTROL IN MARCH.Q1 RESULTS REFLECT EFFECTS OF IFRS 16 FOR FIRST TIME.QTRLY RC PROFIT PER ORDINARY SHARE OF 10.38 CENTS.WHILE EFFECTS OF IFRS 16 IMPACTS A NUMBER OF LINES ACROSS FINANCIAL STATEMENTS, FINANCIAL FRAMEWORK IS UNCHANGED.QTRLY UNDERLYING RC PROFIT PER ORDINARY SHARE OF 11.69 CENTS.UPSTREAM PRODUCTION, EXCLUDING ROSNEFT, FOR QUARTER WAS 2,656 MBOE/D, 2% HIGHER THAN A YEAR EARLIER.QTRLY UNDERLYING REPLACEMENT COST PROFIT $2.3 BILLION, ACCORDING TO COMPANY COLLECTED CONSENSUS.BP - SAFELY BROUGHT 22 NEW UPSTREAM MAJOR PROJECTS INTO PRODUCTION SINCE 2016, REMAINING ON TRACK TO DELIVER 900,000BOE/D FROM NEW PROJECTS BY 2021.NET DEBT* AT 31 MARCH 2019 WAS $45.1 BILLION, COMPARED WITH $39.3 BILLION A YEAR AGO.EXPECT SECOND-QUARTER 2019 REPORTED PRODUCTION TO BE BROADLY FLAT WITH Q1.  Full Article

Top Ships Inc Announces Commencement Of Charter With Oil Major
Thursday, 11 Apr 2019 

April 11 (Reuters) - Top Ships Inc ::TOP SHIPS INC. ANNOUNCES COMMENCEMENT OF CHARTER WITH OIL MAJOR.TOP SHIPS - RECENTLY DELIVERED SCRUBBER FITTED SUEZMAX TANKER M/T ECO BEL AIR COMMENCED TIME CHARTER EMPLOYMENT WITH BP ON APRIL 11, 2019.TOP SHIPS INC - REVENUE BACKLOG EXPECTED TO BE GENERATED BY FIXTURE RELATING TO CHARTER, ASSUMING ALL OPTIONS ARE EXERCISED, IS ABOUT $47.5 MILLION.TOP SHIPS INC - FOR 2019 ALONE, CHARTER WITH BP IS EXPECTED TO INCREASE REVENUE BY $6.6 MILLION..  Full Article

UK's Unite Plans Industrial Action On Petrofac-owned BP Platforms In North Sea
Wednesday, 20 Mar 2019 

March 20 (Reuters) - UK'S UNITE UNION::UK'S UNITE UNION SAYS MEMBERS VOTED FOR INDUSTRIAL ACTION ON ALL BP PLATFORMS IN THE NORTH SEA OWNED BY PETROFAC.UK'S UNITE UNION SAYS DATES FOR THE INDUSTRIAL ACTION WILL BE ANNOUNCED IN DUE COURSE.UK'S UNITE UNION SAYS PETROFAC DISPUTE IS SEPARATE FROM ONGOING INDUSTRIAL ACTION INVOLVING SHETLAND GAS PLANT AND ALWYN, DUNBAR AND ELGIN PLATFORMS.  Full Article

BP CEO Says He Does Not Think Oil Supply Gap Is Imminent
Tuesday, 26 Feb 2019 

Feb 26 (Reuters) - BP PLC ::BP CEO SAYS OIL PRICE AT $50-70/BBL CAN WORK FOR CONSUMERS AND PRODUCERS.BP CEO SAYS HE DOES NOT THINK OIL SUPPLY GAP IS IMMINENT.  Full Article

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Oil majors, exporters boost FTSE 100; Fed minutes eyed

London's FTSE 100 rose on Wednesday as oil majors tracked gains in crude prices and exporters benefited from a weaker pound, while markets waited for minutes of the U.S. Federal Reserve's July meeting for signs of further policy easing.