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BP PLC (BP_pb.L)

BP_pb.L on London Stock Exchange

165.88GBp
30 Nov 2016
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Latest Key Developments (Source: Significant Developments)

BP extends agreement with Accenture as its provider of business process services
Tuesday, 1 Nov 2016 07:57am EDT 

Accenture Plc : Accenture-BP extended agreement by 2 years for co to serve as its global provider of finance and accounting business process services through 2021 .Press release - BP extends agreement with Accenture as its global provider of business process services for finance and accounting through 2021.  Full Article

BP CFO sees potentially two more final investment decisions this year
Tuesday, 1 Nov 2016 05:26am EDT 

Bp Plc : Bp cfo gilvary says expects modest improvement in refining margins next year . Bp cfo gilvary says will probably hit $7 billion cost saving target against 2014 earlier than end 2017 . Bp cfo gilvary says once financials back in balance in 2017 company will consider share buybacks . Bp cfo gilvary says assets for disposals include midstream, property . Bp cfo gilvary says potentially completing 5 final investment decisions this year, fids will ramp up next year . Bp cfo gilvary says rig cancellations costs in q3 were "north of" $150 million Further company coverage: [BP.L] (London Equities Newsroom) ((+44 20 7542 7717;)).  Full Article

BP Q3 underlying replacement cost profit $933 mln
Tuesday, 1 Nov 2016 03:00am EDT 

BP Plc : Downstream expect a higher level of turnaround activity compared with Q3, and that industry refining margins will continue to be under pressure in Q4 . Petrochemicals business reported an underlying replacement cost profit before interest and tax of $78 million for Q3 .Lubricants business reported an underlying replacement cost profit before interest and tax of $370 million for Q3.  Full Article

BP Q3 underlying replacement cost profit $933 mln
Tuesday, 1 Nov 2016 01:57am EDT 

BP Plc : BP's third-quarter replacement cost (RC) profit was $1,661 million, compared with $1,234 million a year ago . After adjusting for a net gain for non-operating items of $949 million and net unfavourable fair value accounting effects of $221 million . After adjusting for a net charge for non-operating items of $2,648 million and net unfavourable fair value accounting effects of $608 million (both on a post-tax basis), underlying RC profit for nine months was $2,185 million . Says net pre-tax charge of $189 million for Q3 . Net cash provided by operating activities for Q3 and nine months was $2.5 billion and $8.3 billion respectively . Says net debt. at Sept. 30, 2016 was $32.4 billion, compared with $25.6 billion a year ago. Net debt ratio. at 30 September 2016 was 25.9% . BP today announced a quarterly dividend of 10.00 cents per ordinary share ($0.600 per ADS), which is expected to be paid on 16 december 2016 . Q3 capital expenditure on an accruals basis. for Q3 was $3.7 billion, of which organic capital expenditure. was $3.6 billion, compared with $4.3 billion for same period in 2015 . For nine months, capital expenditure on an accruals basis was $11.8 billion, of which organic capital expenditure was $11.5 billion, compared with $13.3 billion for same period in 2015 . Disposal proceeds, as per cash flow statement, were $0.6 billion for Q3 and $2.2 billion for nine months.  Full Article

Aker BP core Q3 result above forecast, to pay $0.185 dividend/quarter
Monday, 31 Oct 2016 02:17am EDT 

Aker Bp Asa : q3 revenues $248 million (reuters poll $258 million) . q3 ebitda $179 million (reuters poll $173 million) . q3 production of 112.6 mboepd including BP Norge . The newly merged company is on track with the integration process and the board of directors proposes a dividend of usd 125 million, split equally for december 2016 and march 2017 . This translates into a dividend per share (dps) of usd 0.185 per quarter . The company aims to sustain a minimum dividend level of usd 250 million per year going forward, payable quarterly and to increase this level once johan sverdrup is in production . Says maturing snadd towards pdo in 2017 . Says building a potential new core area north of alvheim . Says assessing aker bp’s capital structure going forward with the aim to lower cost of capital over time . expects full year 2016 (bp norge included for 12 months) capex to be usd 910 - 930 million . says exploration expenditures are expected to be usd 240 - 260 million in 2016 . says production guidance for 2016 is expected between 118 and 120 mboepd . says production cost is expected to average about 13 usd per barrel of oil equivalent . says capex for johan sverdrup project continue to come down and break-even oil price for phase one is now estimated to be below usd 25 per barrel.  Full Article

BRIEF-Aker BP core Q3 result above forecast, to pay $0.185 dividend/quarter
Monday, 31 Oct 2016 01:45am EDT 

Aker Bp Asa : q3 revenues $248 million (reuters poll $258 million) . q3 ebitda $179 million (reuters poll $173 million) . q3 production of 112.6 mboepd including BP Norge . The newly merged company is on track with the integration process and the board of directors proposes a dividend of usd 125 million, split equally for december 2016 and march 2017 . This translates into a dividend per share (dps) of usd 0.185 per quarter . The company aims to sustain a minimum dividend level of usd 250 million per year going forward, payable quarterly and to increase this level once johan sverdrup is in production . Says maturing snadd towards pdo in 2017 . Says building a potential new core area north of alvheim . Says assessing aker bp’s capital structure going forward with the aim to lower cost of capital over time . expects full year 2016 (bp norge included for 12 months) capex to be usd 910 - 930 million . says exploration expenditures are expected to be usd 240 - 260 million in 2016 . says production guidance for 2016 is expected between 118 and 120 mboepd . says production cost is expected to average about 13 usd per barrel of oil equivalent . says capex for johan sverdrup project continue to come down and break-even oil price for phase one is now estimated to be below usd 25 per barrel.  Full Article

Uniper and BP sign a cooperation agreement
Thursday, 6 Oct 2016 05:16am EDT 

Uniper SE :Uniper and BP plan jointly to examine and develop possibilities for using power-to-gas technology in refining process..  Full Article

BP says technical issue reported at its Clair platform on Sunday
Sunday, 2 Oct 2016 04:33pm EDT 

Bp Plc - : Confirms that a technical issue was reported on its Clair platform at approximately 1000 hours on Sunday . Technical issue on its Clair platform resulted in a release of a quantity of oil to sea . All personnel have been accounted for and there are no injuries at its Clair platform . Investigating cause of technical issue at Clair platform and monitoring the situation; all relevant authorities have been informed . Clair platform has been shut down and release of oil to sea has been stopped Further company coverage: [BP.L] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Aker BP merger completed, plans Q4 dividend
Friday, 30 Sep 2016 09:35am EDT 

Det Norske Oljeselskap Asa : Det norske oljeselskap says has completed the closing of the merger with BP Norge and the subsequent establishment of Aker BP ASA .Says company is on track with the integration process and reiterates the ambition of a quarterly dividend for the fourth quarter of 2016.  Full Article

Teekay Offshore Partners awarded New North Sea Shuttle Tanker Contracts
Friday, 23 Sep 2016 06:59am EDT 

Teekay Offshore Partners LP : Teekay Offshore Partners awarded New North Sea Shuttle Tanker Contracts . CoAs are expected to commence in first half of 2017 with requirement for approximately two shuttle tankers . Partnership expects to service these New CoAs with its existing CoA shuttle tanker fleet .Awarded 3-year shuttle tanker contracts of affreightment (coa), plus extension options, with BP Plc, Royal Dutch Shell and OMV Group.  Full Article

Egypt accepts six bids for oil and gas exploration

CAIRO Egypt has accepted six bids for oil and gas exploration worth a total investment of up to $200 million, the Ministry of Petroleum said on Friday.