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BP PLC (BP_pb.L)

BP_pb.L on London Stock Exchange

171.50GBp
20 Jul 2017
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Latest Key Developments (Source: Significant Developments)

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

Nexans Norway signes global framework agreement with BP
Monday, 10 Jul 2017 05:05am EDT 

July 10 (Reuters) - NEXANS ::NEXANS NORWAY SIGNED A FIVE-YEAR GLOBAL FRAMEWORK AGREEMENT WITH BP.  Full Article

Ardian buys 44 pct stake in oil pipeline network firm SPMR from Total, BP
Monday, 3 Jul 2017 11:47am EDT 

July 3 (Reuters) - Ardian::Closed the acquisition of a 44 percent stake in Société du Pipeline Méditerranée Rhône (SPMR), the refined oil pipeline network company, from Total and BP.Following deal, Ardian will be the largest shareholder in SPMR alongside Trapil, ESSO, ENI, Petrofrance and Thevenin & Ducrot, who all remain invested in co.Ardian Infrastructure has become largest shareholder in SPMR.  Full Article

BP expects $750 million non-cash exploration write-off in Angola
Thursday, 29 Jun 2017 10:14am EDT 

June 29 (Reuters) - BP Plc ::Actively managing exploration portfolio and exiting non-competitive assets, expects around $750 million non-cash exploration write-off in Angola.Decided to relinquish its 50 pct interest in block 24/11 offshore southern Angola.Katambi, a gas discovery made in block in 2014, has not been determined to be commercial.Due to write-offs in Angola, bp expects a non-cash exploration write-off in Angola of around $750 million, which will not attract tax relief in its Q2 2017 results.  Full Article

BP says allotment of 70.1 mln shares under scrip dividend programme
Friday, 23 Jun 2017 02:00am EDT 

June 23 (Reuters) - Bp Plc ::Confirms allotment of 70.1 million shares of $0.25 each to shareholders who elected to receive shares under scrip dividend programme.  Full Article

Statoil swaps stakes with BP in four blocks off Australia
Thursday, 8 Jun 2017 04:48pm EDT 

June 8 (Reuters) - Statoil Asa : :Says has signed a swap agreement with BP <<>> and has been granted regulatory approval to take over two exploration permits and extend its work program in the Great Australian Bight.Says has transferred its 30% equity interest in offshore exploration permits EPP37 and EPP38 to BP and exited the licences.Says BP has transferred its 70% equity interest in offshore exploration permit EPP39 and EPP40 to Statoil and exited the licences.Says Statoil consequently holds 100% equity interest in the two exploration permits.Says the regulator has granted Statoil a suspension and extension of the work commitments in EPP39 and EPP40.Says the approved extension includes drilling of one exploration well in EPP39 before Oct. 30, 2019.  Full Article

Moody's upgrades BP's rating to A1; outlook is positive
Thursday, 8 Jun 2017 08:02am EDT 

June 8 (Reuters) - BP Plc ::Moody's upgrades BP's rating to A1; outlook is positive.Moody's says upgraded to a1 from A2 issuer rating of bp and long term debt ratings of its guaranteed subsidiaries.Moody's says decision to upgrade bp factors in increased clarity around size, timing of remaining cash payments linked to deep water horizon incident.  Full Article

Repsol and BP discover large gas volume in Trinidad and Tobago
Monday, 5 Jun 2017 11:24am EDT 

June 5 (Reuters) - REPSOL SA ::DISCOVERS IN TRINIDAD AND TOBAGO ITS LARGEST VOLUME OF GAS OF THE LAST FIVE YEARS‍​.SAYS THE DISCOVERY MADE IN TWO WELLS WAS COMPLETED BY REPSOL AND ITS PARTNER BP.SAYS HAS A 30% INTEREST IN THE DISCOVERY CONSORTIUM, BPTT, WHILE THE REST BELONGS TO BP.  Full Article

BP finds more gas in Trinidad, sanctions new field development
Friday, 2 Jun 2017 03:21am EDT 

June 2 (Reuters) - BP Plc ::‍BP discovers more gas in Trinidad and sanctions development of new field.Has made two new gas discoveries offshore Trinidad, which have potential to support future developments.Results of Savannah and Macadamia exploration wells have unlocked about 2 trillion cubic feet of gas in place to underpin new developments.‍Have now approved development of our next gasfield offshore Trinidad, Angelin, expected to come on stream in 2019​.At Angelin offshore gas project, drilling is due to commence in Q3 2018 and first gas from the facility is expected in 1Q 2019.  Full Article

BP announces start of production at key Shetland project
Monday, 22 May 2017 03:17am EDT 

May 22 (Reuters) - BP Plc ::Announces start of production from Quad 204 project, west of Shetland.Announce first oil from redeveloped schiehallion area.Over next 18 months, BP plans to participate in up to five exploration wells in UK, in addition to drilling about 50 development wells over next 3-4 years.  Full Article

RPT-After false dawn, Big Oil to double down on cost cuts

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