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BP PLC (BP_pb.L)

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Latest Key Developments (Source: Significant Developments)

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

BP and Clean Energy partner to expand U.S. renewable natural gas transportation fueling capabilities
Wednesday, 1 Mar 2017 06:29am EST 

Bp Plc : BP and Clean Energy partner to expand U.S. Renewable natural gas transportation fueling capabilities . Under terms of agreement, BP will pay $155 million for Clean Energy's existing biomethane production facilities . BP to acquire Clean Energy's upstream renewable natural gas business and sign long-term supply agreement with clean energy . BP will continue to subcontract operations of these facilities to Clean Energy .BP Plc - Clean Energy will buy renewable natural gas fuel from BP and collect royalties on gas purchased from BP and sold as redeem at it stations.  Full Article

BP CEO says 60 pct of company's production will be gas by mid-2020s
Tuesday, 28 Feb 2017 11:25am EST 

Bp Plc : Bp ceo says expects 60 percent of company's production to come from gas by mid-2020s Further company coverage: [BP.L] (London Equities Newsroom) ((+44 20 7542 7717;)).  Full Article

BP says 5 billion barrels of oil, gas accessible at around $1/bbl
Tuesday, 28 Feb 2017 09:05am EST 

Bp Plc : Bp says targets 10 percent return on average capital employed by 2021 - presentation . Bp says around 5 billion barrels of oil equivalent accessible at around $1/bl cost - presentation . Bp says targets $2 billion growth in pre-tax earnings from refining between 2014-2021 Further company coverage: [BP.L] (London Equities Newsroom) ((+44 20 7542 7717;)).  Full Article

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