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BP PLC (BP.L)

BP.L on London Stock Exchange

514.20GBp
13 Dec 2018
Change (% chg)

-2.30 (-0.45%)
Prev Close
516.50
Open
511.30
Day's High
514.20
Day's Low
503.87
Volume
52,440,460
Avg. Vol
32,072,084
52-wk High
603.60
52-wk Low
452.50

Latest Key Developments (Source: Significant Developments)

BNP Paribas Awarded BP’S Cash Management Business Across Europe
Wednesday, 12 Dec 2018 04:31am EST 

Dec 12 (Reuters) - BNP PARIBAS::ANNOUNCED THAT IT HAS BEEN AWARDED BP’S CASH MANAGEMENT BUSINESS ACROSS EUROPE, FOLLOWING A COMPETITIVE TENDER.  Full Article

BP Plc Recommends ADS Holders To Reject TRC's Mini-Tender Offer
Friday, 30 Nov 2018 08:28am EST 

Nov 30 (Reuters) - BP Plc ::BP RESPONDS TO 'MINI-TENDER' OFFER.RECEIVED NOTIFICATION THAT ON NOVEMBER 19, 2018 TRC CAPITAL COMMENCED AN UNSOLICITED, BELOW-MARKET MINI-TENDER OFFER.BP RECOMMENDS THAT ADS HOLDERS REJECT OFFER AND DO NOT TENDER THEIR ADSS IN RESPONSE TO OFFER BY TRC.TRC CAPITAL COMMENCED UNSOLICITED, BELOW-MARKET MINI-TENDER OFFER TO PURCHASE UP TO 3 MILLION OF AMERICAN DEPOSITARY SHARES OF BP.BP IS IN NO WAY ASSOCIATED WITH TRC, MINI-TENDER OFFER OR OFFER DOCUMENTS.TRC MINI-TENDER OFFER IS NOT RELATED TO BP'S OWN SHARE BUYBACK PROGRAM TO REPURCHASE ORDINARY SHARES.TRC CAPITAL MINI-TENDER OFFER IS AT A PRICE OF $39.00 PER ADS.  Full Article

Hess Corp says Drilling Completed On Aspy Well
Friday, 9 Nov 2018 02:09pm EST 

Nov 9 (Reuters) - Hess Corp ::DRILLING COMPLETED ON ASPY WELL.PROSPECT DID NOT ENCOUNTER COMMERCIAL QUANTITIES OF HYDROCARBONS.HESS' SHARE OF WELL COST THROUGH SEPTEMBER 30, 2018 WILL BE EXPENSED IN Q3.DRILLING OF ASPY EXPLORATION WELL OFFSHORE NOVA SCOTIA REACHED TOTAL DEPTH OF 7,400 METERS.  Full Article

BP CFO says major oil price correction unlikely
Tuesday, 30 Oct 2018 05:53am EDT 

Oct 30 (Reuters) - BP PLC ::BP CFO SAYS EXPECTS TO OFFSET EFFECT OF SCRIP DIVIDENDS SINCE LATE 2017 BY END OF NEXT YEAR.BP CFO SAYS EXPECTS ORGANIC CASH BREAKEVEN POINT AT $50/BBL IN 2018.BP CFO SAYS UNLIKELY WE WILL SEE MAJOR CORRECTION IN OIL PRICE.BP CFO SAYS FIRST TRANCHE OF DIVESTMENT OF LOWER 48 ASSETS TO GO THROUGH NEXT YEAR.BP CFO SAYS WE ARE CERTAINLY NOT SEEING ANY INFLATION IN RIG RATES.  Full Article

BP gearing might go above 30 pct in 2019 depending on oil price-CFO
Tuesday, 30 Oct 2018 04:44am EDT 

Oct 30 (Reuters) - BP PLC ::BP CFO SAYS GEARING MIGHT GO ABOVE 30 PERCENT IN 2019 DEPENDING ON OIL PRICES.BP CFO SAYS BP WILL REACH OVER $3 BILLION IN DISPOSALS THIS YEAR.BP CFO SAYS COMPANY HAS PREPARED FOR ALL BREXIT SCENARIOS, BUT DOES NOT EXPECT ANY MAJOR IMPACT ON BP.  Full Article

BP Expects To Fund Deal To BHP's Shale Assets From Available Cash
Tuesday, 30 Oct 2018 03:00am EDT 

Oct 30 (Reuters) - BP Plc ::ACQUISITION FROM BHP TO COMPLETE ON OCT. 31; EXPECTS TO FUND ENTIRE DEAL FROM AVAILABLE CASH, THAN USING EQUITY FOR THE DEFERRED CONSIDERATION.NET DEBT AT 30 SEPTEMBER 2018 WAS $39.2 BILLION, COMPARED WITH $39.8 BILLION A YEAR AGO.GEARING AT 30 SEPTEMBER 2018 WAS 27.5%, COMPARED WITH 28.4% A YEAR AGO.EXPECT GEARING TO REMAIN WITHIN THE TARGET BAND OF 20-30% DURING THE FOURTH QUARTER OF 2018.GEARING MAY MOVE TEMPORARILY ABOVE TOP END OF BAND IN EARLY 2019; EXPECTED TO MOVE BACK DOWN TOWARDS THE MIDDLE OF THE BAND BY THE END OF 2019.  Full Article

BP Underlying Replacement Cost Profit More Than Doubles To $3.8 Bln
Tuesday, 30 Oct 2018 03:00am EDT 

Oct 30 (Reuters) - BP PLC ::3Q18 PART 1 OF 1.UNDERLYING REPLACEMENT COST PROFIT FOR Q3 OF 2018 WAS $3.8 BILLION, MORE THAN DOUBLE A YEAR EARLIER.Q3 OPERATING CASH FLOW, EXCLUDING GOM OIL SPILL PAYMENTS OF $6.6 BILLION VERSUS $6.6 BILLION REPORTED LAST YEAR.GULF OF MEXICO OIL SPILL PAYMENTS IN QUARTER WERE $0.5 BILLION ON A POST-TAX BASIS..ORGANIC CAPITAL EXPENDITURE FOR THIRD QUARTER WAS $3.7 BILLION COMPARED WITH $4.0 BILLION LAST YEAR.DIVIDEND OF 10.25 CENTS A SHARE FOR Q3.QTRLY RC PROFIT OF $3,091 MILLION VERSUS. $1,379 MILLION AS REPORTED A YEAR EARLIER.DIVESTMENT PROCEEDS WERE $0.1 BILLION FOR THIRD QUARTER COMPARED WITH $0.2 BILLION LAST YEAR.QTRLY RC PROFIT PER ORDINARY SHARE OF 15.45 CENTS.QTRLY UNDERLYING RC PROFIT PER ORDINARY SHARE OF 19.18 CENTS.QTRLY UNDERLYING REPLACEMENT COST PROFIT ESTIMATE OF $2.85 BILLION, ACCORDING TO COMPANY COLLECTED CONSENSUS.PRODUCTION FOR QUARTER WAS 2,460MBOE/D, FLAT WITH THIRD QUARTER OF 2017, UNDERLYING PRODUCTION FOR THE QUARTER INCREASED BY 6.8%.EXPECT FOURTH-QUARTER REPORTED PRODUCTION TO BE HIGHER THAN THE THIRD QUARTER DUE TO THE ACQUISITION OF BHP ASSETS IN THE US LOWER 48.THUNDER HORSE NORTHWEST EXPANSION IN GULF OF MEXICO AND WESTERN FLANK B PROJECT IN AUSTRALIA BEGAN PRODUCTION IN OCT, BOTH AHEAD OF SCHEDULE.IN FOURTH QUARTER, EXPECT LOWER INDUSTRY REFINING MARGINS AND HIGHER LEVELS OF TURNAROUND DRIVEN BY ACTIVITY AT WHITING REFINERY IN U.S..  Full Article

Aker BP Q3 operating profit above forecast, keeps 2018 production outlook
Friday, 19 Oct 2018 01:00am EDT 

Oct 19 (Reuters) - Aker BP ASA ::AKER BP Q3 OPERATING REVENUES $1,000 MILLION (REUTERS POLL $969 MILLION).AKER BP Q3 NET RESULT $125 MILLION (REUTERS POLL $128 MILLION).AKER BP Q3 OPERATING PROFIT $548 MILLION (REUTERS POLL $521 MILLION).COMPANY STILL EXPECTS FULL-YEAR PRODUCTION TO BE WITHIN PREVIOUSLY COMMUNICATED RANGE OF 155-160 MBOEPD.COMPANY'S CAPEX ESTIMATE FOR 2018 HAS BEEN REDUCED FROM AROUND USD 1.3 BILLION TO AROUND USD 1.25 BILLION.AKER BP KEEPS QUARTERLY DIVIDEND AT $0.3124 PER SHARE (REUTERS POLL $0.31).COMPANY'S ESTIMATED EXPLORATION SPEND FOR 2018 HAS BEEN REVISED DOWN TO USD 400 MILLION VERSUS PREVIOUS USD 425 MILLION.AKER BP SEES 2018 ABANDONMENT COSTS AT $250 MILLION PREVIOUS GUIDANCE $250 MILLION.FOR THE FULL YEAR 2018, THE COMPANY MAINTAINS ITS ESTIMATE OF PRODUCTION COSTS OF AROUND 12 USD/BOE.ODA ON TRACK FOR PRODUCTION START IN Q2 2019.AT THE END OF THE THIRD QUARTER, APPROXIMATELY 93 PERCENT OF JOHAN SVERDRUP PHASE 1 FACILITIES WERE COMPLETE.  Full Article

Eni, BP And NOC Sign Deal To Resume Libyan Exploration
Monday, 8 Oct 2018 10:51am EDT 

Oct 8 (Reuters) - Eni SpA ::ENI - ENI, BP AND NOC SIGN DEAL TO RESUME LIBYAN EXPLORATION.ENI - AGREEMENT WILL SEE CO BUY 42.5% STAKE, BECOME OPERATOR OF 3 OF BP’S LIBYAN OIL EXPLORATION AREAS.ENI - PARTIES INTEND TO FINALIZE & EXECUTE ALL NECESSARY AGREEMENTS BY CURRENT YEAR-END, WITH AIM OF RE-STARTING EXPLORATION ACTIVITIES IN 2019.  Full Article

Enquest Says Magnus and Thistle Options Exercised With BP
Thursday, 4 Oct 2018 02:00am EDT 

Oct 4 (Reuters) - BP PLC ::ENQUEST PLC - HAS EXERCISED ITS OPTIONS WITH BP RELATING TO MAGNUS FIELD AND ASSOCIATED INFRASTRUCTURE AND THISTLE AND DEVERON FIELDS.ENQUEST PLC - EXERCISING THISTLE OPTION RESULTS IN ENQUEST RECEIVING $20 MILLION IN CASH.ENQUEST PLC - CAP ON ENQUESTS TOTAL PAYMENT OBLIGATION ALSO INCREASES BY £42 MILLION TO £99 MILLIO.ENQUEST PLC - FUNDS ARE EXPECTED TO BE RECEIVED FROM BP WITHIN 10 BUSINESS DAYS.ENQUEST PLC - MAGNUS ACQUISITION EXPECTED TO ADD APPROXIMATELY $500 MILLION OF NET PRESENT VALUE TO GROUP.  Full Article

BP targeted with first shareholder resolution on climate goals

LONDON, Dec 10 Pressure on oil companies to tackle climate change is growing after an activist group for the first time filed a shareholder resolution urging BP to set hard targets for reducing overall carbon emissions.