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BP PLC (BP_pb.L)

BP_pb.L on London Stock Exchange

165.25GBp
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

BP says to dispose interest in SECCO to Sinopec for $1.68 bln
Thursday, 27 Apr 2017 07:27am EDT 

April 27 (Reuters) - BP Plc ::BP agrees sale of interest in SECCO to SINOPEC.Consideration of sale of interest in SECCO to SINOPEC $1.68 billion.SECCO is currently owned by BP (50%), SINOPEC (30%) and Sinopec Shanghai Petrochemical Company Limited (20%), in which Sinopec holds a majority interest.Intends to use proceeds from disposal, most if not all of which are anticipated to be received in 2017, for general corporate purposes.Tansaction is subject to a number of regulatory approvals and other conditions, subject to which, it is currently anticipated to complete before end of year.  Full Article

Fitch affirms BP at 'A', outlook stable
Friday, 21 Apr 2017 06:50am EDT 

April 21 (Reuters) - BP Plc :Fitch affirms BP at 'A', outlook stable.  Full Article

BP says starts up Trinidad onshore compression project
Thursday, 13 Apr 2017 09:21am EDT 

BP Plc : BP starts up Trinidad onshore compression project . Full start-up will take place over next few months. . When fully on stream, onshore compression facility will have potential to deliver approximately 200 million standard cubic feet of gas per day. . Atlantic LNG Company Of Trinidad and Tobago will serve as operator. Further company coverage: [BP.L] (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

BP shareholder comments on remuneration policy
Thursday, 6 Apr 2017 08:20am EDT 

BP Plc shareholder: 2017 pay policy looks set to significantly reduce the total pay that CEO Bob Dudley will be awarded going forward . We applaud the BP remuneration committee for being proactive in responding to the shareholder revolt last year Further company coverage: [BP.L] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

BRIEF-BP says CEO Bob Dudley's 2016 total remuneration was $11.6 mln
Thursday, 6 Apr 2017 06:56am EDT 

Corrects currency in headline to dollars from pounds.BP Plc : Says CEO Bob Dudley's 2016 total remuneration, including pension was $11.6 million versus $19.4 million in 2015 . CEO Bob Dudley's 2016 annual bonus was $2.5 million vs. $4.2 million in 2015 . Bob Dudley's deferred bp share component of 2016 annual bonus was $848,000 . The salary for the group chief executive Dudley will remain at $1.854 million for 2017 . Says CFO Brian Gilvary total remuneration for 2016 at 4.2 million pounds versus 5.1 million pounds in 2015 . From 2017, level of bonus paid for an 'on-target' score will be reduced by 25 pct . From 2017, the proportion of annual bonus that must be deferred into shares will be increased from 33 pct to 50 pct . Executive directors have voluntarily agreed the extension of vesting periods for certain legacy share awards as a transitional approach to the new policy . From 2017, deferred shares will no longer be matched with additional shares . From 2017, will operate only two incentive plans – a short-term annual bonus and a long-term performance share plan . From 2017, maximum CEO longer-term incentives will be reduced from seven times salary to a maximum of five times salary . Expected that Bob Dudley and Brian Gilvary will maintain a shareholding of at least 250 percent of salary for two years following retirement.  Full Article

BP, DuPont venture acquires Nesika Energy
Monday, 3 Apr 2017 07:18am EDT 

BP Plc : Butamax Advanced Biofuels, a BP and DuPont JV, announced acquisition of Nesika Energy and its state-of--art ethanol facility in Kansas .Butamax plans to license its proprietary bio-isobutanol technology beyond this first facility on a global scale.  Full Article

BP says to sell forties pipeline system to Ineos
Monday, 3 Apr 2017 02:31am EDT 

Bp Plc - : BP press release - BP to sell forties pipeline system to Ineos . Agreed to sell its FPS business, with assets including main forties offshore and onshore pipelines and other associated pipeline interests and facilities . sale will not affect BP's existing rights to capacity in FPS . Under terms of agreement, Ineos will pay BP a consideration of up to $250 mln for business . Consideration comprises a cash payment of $125 mln on completion and an earn-out arrangement over seven years that totals up to $125 mln Further company coverage: [BP.L] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

BP says co, Accsys Technologies created a consortium
Thursday, 30 Mar 2017 05:11am EDT 

Bp Plc - : BP, Accsys Technologies through subsidiary Tricoya Technologies, Medite have announced creation of a consortium, Tricoya Ventures UK Limited . BP, through its petrochemicals and venturing businesses will invest over $25 million in TTL and TVUK over a two year period Further company coverage: [BP.L] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Onesubsea awarded contract by BP
Tuesday, 21 Mar 2017 03:43am EDT 

Schlumberger - : Onesubsea announced award by BP of an engineering, procurement and construction (EPC) contract Further company coverage: [BP.L] [SLB.N] ((bangalore.newsroom@thomsonreuters.com)).  Full Article

Wood Group says has been awarded two Mad Dog phase 2 contracts
Tuesday, 14 Mar 2017 03:36am EDT 

John Wood Group Plc : Wood group awarded two Mad Dog phase 2 contracts . $80 million contract follows december 2016 completion of interim agreement period (IAP) early work, which was valued at $4.5 million .Contracted by Samsung Heavy Industries to provide detailed engineering and procurement services for topsides for bp's mad dog phase 2 floating production unit.  Full Article

More From Around the Web

Four employees injured in incident at BP's Whiting, Indiana refinery: company

HOUSTON Four employees were injured on Friday in a power distribution center at BP Plc's 413,500 barrel per day (bpd) Whiting, Indiana, refinery, the company said in a statement.