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BP PLC (BP)

BP on New York Consolidated

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18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

KBR awarded contracts for BP's Tortue project
Thursday, 17 Aug 2017 05:52am EDT 

Aug 17 (Reuters) - KBR Inc ::KBR awarded pre-feed engineering and project support contracts for BP's Tortue project.Revenue from contract is undisclosed​.Revenue from contract will be booked into backlog for KBR's Engineering & Construction business segment in Q3 of 2017​.Awarded contracts by BP for development of Tortue/Ahmeyim field offshore Mauritania and Senegal​.  Full Article

BP annouces first gas from a project in Trinidad and Tobago
Monday, 14 Aug 2017 08:40am EDT 

Aug 14 (Reuters) - BP Plc ::BP TRINIDAD AND TOBAGO ANNOUNCED FIRST GAS FROM JUNIPER DEVELOPMENT, PROJECT EXPECTED TO BOOST BPTT’S GAS PRODUCTION CAPACITY BY ABOUT 590 MILLION STANDARD CUBIC FEET A DAY.  Full Article

Woolworths comments on ‍ACCC statement on BP's proposed acquisition of Woolworths' retail service station sites​
Wednesday, 9 Aug 2017 08:32pm EDT 

Aug 10 (Reuters) - Woolworths Ltd -:‍ACCC released a statement of issues in relation to bp's proposed acquisition of woolworths' retail service station sites​.Woolworths will continue to work with bp and accc to progress merger clearance process.  Full Article

ACCC comments on proposed acquisition by BP Australia of Woolworth's network of retail service station sites​
Wednesday, 9 Aug 2017 06:51pm EDT 

Aug 10 (Reuters) - ‍Australian Competition And Consumer Commission-:Flagged concerns regarding proposed acquisition by bp australia of woolworth's network of retail service station sites​.Is seeking feedback from interested parties regarding proposed acquisition​.Proposed acquisition may substantially lessen competition for retail supply of fuel across metropolitan areas.  Full Article

BP says natural gas well in Mancos shale online
Monday, 7 Aug 2017 10:59am EDT 

Aug 7 (Reuters) - BP PLC ::HAS BROUGHT ONLINE NATURAL GAS WELL IN MANCOS SHALE.WELL ACHIEVED AN AVERAGE 30-DAY INITIAL PRODUCTION RATE OF 12.9 MILLION CUBIC FEET PER DAY.  Full Article

Fitch says 1H results suggest EMEA oil majors through worst of cycle​
Thursday, 3 Aug 2017 07:43am EDT 

Aug 3 (Reuters) - Fitch on EMEA oil majors:Fitch says 1H results suggest EMEA oil majors through worst of cycle​.Fitch says first-half results from top three European integrated oil and gas companies support view that they and are on a path to deleveraging​.  Full Article

BP weighs electric vehicle battery charging JVs -CEO
Tuesday, 1 Aug 2017 09:48am EDT 

Aug 1 (Reuters) - Bp Plc :BP in talks with electric vehicle manufacturers to install battery chargers at its service stations -CEO Dudley.BP sees new U.S. Shale opportunities as "too expensive" - CEO Dudley.Reports BP is seeking to sell entire North Sea oil and gas portfolio are 'absolutely incorrect' - CEO Dudley.  Full Article

BP Plc says gearing level was 28.8 pct at Q2 end
Tuesday, 1 Aug 2017 02:06am EDT 

Aug 1 (Reuters) - BP Plc :BP’s Dudley says ‍"continue to position BP for new oil price environment, with continued focus on costs, efficiency and discipline in capital spending​"."upstream major projects on track; two new projects sanctioned in quarter"‍​.BP expects divestments of $4.5-5.5 billion in 2017, with proceeds weighted to the second half of the year‍​.BP continues to intend to keep annual organic capital expenditure in the range $15-17 billion."BP continues to target a gearing range of 20-30%."."Expect third-quarter reported production to be broadly flat with the second quarter".At the end of the second quarter, gearing was 28.8%.  Full Article

BP reports Q2 underlying replacement cost profit of 3.47 cents/share
Tuesday, 1 Aug 2017 02:00am EDT 

Aug 1 (Reuters) - BP PLC :PRODUCTION FOR QUARTER WAS 2,431MBOE/D, 9.9% HIGHER THAN Q2 OF 2016.UNDERLYING PRODUCTION* FOR QUARTER INCREASED BY 7.0%, DUE TO RAMP-UP OF MAJOR PROJECTS.EXPECT THIRD-QUARTER REPORTED PRODUCTION TO BE BROADLY FLAT WITH Q2.IN Q3, EXPECT A SIMILAR LEVEL OF INDUSTRY REFINING MARGINS AND THAT NORTH AMERICAN HEAVY CRUDE OIL DIFFERENTIALS WILL REMAIN UNDER PRESSURE.Q2 REPLACEMENT COST PROFIT OF $553 MILLION VERSUS. LOSS OF $2,247 MILLION A YEAR AGO.Q2 UNDERLYING REPLACEMENT COST PROFIT OF $684 MILLION VERSUS. PROFIT OF $720 MILLION, A YEAR AGO.QTRLY UPSTREAM UNDERLYING REPLACEMENT COST (RC) PROFIT BEFORE INTEREST AND TAX $ ‍710​ MILLION VERSUS $29 MILLION.Q2 REPLACEMENT COST PROFIT PER SHARE OF 2.80 CENTS.QTRLY DOWNSTREAM UNDERLYING REPLACEMENT COST (RC) PROFIT BEFORE INTEREST AND TAX $ ‍1,413​ MILLION VERSUS $1,513 MILLION.Q2 UNDERLYING REPLACEMENT COST PROFIT PER SHARE OF 3.47 CENTS.SAYS ‍NET DEBT AT 30 JUNE 2017 WAS $39.8 BILLION, COMPARED WITH $30.9 BILLION A YEAR AGO​.NET DEBT ROSE PRIMARILY DUE TO GULF OF MEXICO PAYMENTS, EXPECT WILL IMPROVE OVER H2 AS PAYMENTS DECLINE,DIVESTMENT PROCEEDS COME IN TOWARDS YEAR END.ORGANIC CAPITAL EXPENDITURE OF $4.3 BILLION IN THE SECOND QUARTER BROUGHT THE TOTAL FOR THE FIRST HALF OF 2017 TO $7.9 BILLION.Q2 UNDERLYING REPLACEMENT COST PROFIT ESTIMATE OF $500 MILLION - COMPANY COMPILED ESTIMATES.  Full Article

Reliance Industries says shale gas business maintains cautious approach to resuming development
Thursday, 20 Jul 2017 08:15am EDT 

July 20 (Reuters) - Reliance Industries Ltd :Says currently 8 wells in D1D3 and 3 wells in MA is under production at KG-D6 field.RIL’s polymer production was down by 15% y-o-y to 0.98 MMT on account of planned shutdowns at Hazira and Nagothane.Co, BP expect to submit field development plan for MJ and Satellite Cluster Field for Management Committee approval by end of 2017.Shale gas business continues to maintain a cautious approach to resuming development.Q1 revenue from petrochemicals segment increased due to increase in prices of PP, PVC, PTA and polyester.Says outstanding debt as on 30th June 2017 was 2.01 trln rupees compared to 1.97 trln rupees as on 31st March 2017.Cash and cash equivalents as on 30th June 2017 were at 721.07 bln rupees compared to 772.26 bln rupees as on 31st March 2017.  Full Article

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Exclusive: China's CEFC in early talks to buy Rosneft stake - sources

HONG KONG/BEIJING CEFC China Energy, which has grown from a niche oil trader to a sprawling energy conglomerate, is in talks to acquire a stake in Russian state oil giant Rosneft , three people with direct knowledge of the discussions said.