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United States

BP PLC (BP)

BP on New York Consolidated

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21 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Serica Energy announces purchase of BP interests in Bruce, Keith and Rhum
Tuesday, 21 Nov 2017 02:00am EST 

Nov 21 (Reuters) - SERICA ENERGY PLC ::‍ACQUISITION OF BP INTERESTS IN BRUCE, KEITH AND RHUM FIELDS IN NORTH SEA​.‍UNDER SALE AND PURCHASE AGREEMENT, SERICA WILL ACQUIRE A 36% INTEREST IN BRUCE, A 34.83% INTEREST IN KEITH AND A 50% INTEREST IN RHUM ​.‍DEAL HAS AN EFFECTIVE DATE OF 1 JANUARY 2018 AND COMPLETION OF ACQUISITION IS EXPECTED TO TAKE PLACE IN MID-2018​.‍INITIAL CONSIDERATION FOR ACQUISITION IS £12.8 MILLION, TO BE ADJUSTED FOR WORKING CAPITAL​.‍BP WILL ALSO RECEIVE A SHARE OF PRE-TAX NET CASH FLOW FROM BKR ASSETS OF 60% IN 2018, 50% IN 2019 AND 40% IN EACH OF 2020 AND 2021​.‍MITCH FLEGG APPOINTED CEO AND TO BOARD OF SERICA WITH IMMEDIATE EFFECT​.  Full Article

BP says to commence share buyback programme
Wednesday, 15 Nov 2017 03:14am EST 

Nov 15 (Reuters) - BP Plc :SHARE BUYBACK PROGRAMME.‍IT IS TO COMMENCE A SHARE BUYBACK PROGRAMME TO REPURCHASE ORDINARY SHARES IN CAPITAL OF COMPANY​.‍PERIOD FOR WHICH AUTHORISATION FOR PROGRAMME HAS BEEN GIVEN IS 15 NOVEMBER 2017 UNTIL DATE OF COMPANY'S 2018 ANNUAL GENERAL MEETING​.  Full Article

Russia's Rosneft to start production at Zohr in coming months
Tuesday, 14 Nov 2017 08:00am EST 

Nov 14 (Reuters) - Russia's Rosneft ::Says plans to start gas production in Zohr field in Egypt in the coming months;.Says to launch Yurubcheno-Tokhomskoye and Kondinskoye oilfields in Russia by the end of 2017..  Full Article

Ineos completes acquistion of North Sea Forties Pipeline System and Kinneil Terminal
Tuesday, 31 Oct 2017 03:08pm EDT 

Oct 31 (Reuters) - :Ineos says it has completed the acquistion of the North Sea Forties Pipeline System and Kinneil Terminal from BP‍​.  Full Article

BP to recommence share buyback programme in Q4
Tuesday, 31 Oct 2017 03:19am EDT 

Oct 31 (Reuters) - BP PLC ::CFO - WILL BE RECOMMENCING A SHARE BUYBACK PROGRAMME THIS QUART‍​ER.BP NOW EXPECTS TOTAL ORGANIC CAPITAL EXPENDITURE FOR 2017 WILL BE AROUND $16 BILLION, WITHIN THE $15-17 BILLION RANGE PREVIOUSLY INDICATED.TOTAL DIVESTMENT PROCEEDS IN 2017 ARE EXPECTED TO BE AROUND $4.5 BILLION.BP CONTINUES TO TARGET A GEARING RANGE OF 20-30%; AT THE END OF THE THIRD QUARTER, GEARING WAS 28.4%.  Full Article

Aker BP says share issue fully subscribed at NOK 184
Tuesday, 31 Oct 2017 03:14am EDT 

Oct 31 (Reuters) - Aker BP Asa :NOK 4.1 billion private placement fully subscribed.‍Raising gross proceeds of NOK 4,084 million ($501.02 million). Price per share was nok 184 per share​.‍subscription price of nok 182.5 per share and nok 1.5 per share as payment for associated right to cash dividend of usd 0.185.‍investors who participate in private placement are informed that shares offered in private placement will be delivered inclusive of right to receive cash dividend.Aker Capital AS pre-committed 40 pct of the placement.BP Global Investments Limited subscribed for 30 pct.  Full Article

BP reports Q3 underlying replacement cost profit of $1.87 bln
Tuesday, 31 Oct 2017 03:00am EDT 

Oct 31 (Reuters) - BP Plc :Q3 REPLACEMENT COST PROFIT PER SHARE OF ‍6.98​ CENTS.Q3 UNDERLYING REPLACEMENT COST PROFIT PER SHARE OF ‍9.44​ CENTS.Q3 TOTAL REVENUES AND OTHER INCOME OF $‍60,808​ MILLION VERSUS $48,043 MILLION LAST YEAR.Q3 REPLACEMENT COST PROFIT OF $‍1,379​ MILLION VERSUS. PROFIT OF $1,661 MILLION IN Q3 2016.Q3 UNDERLYING REPLACEMENT COST PROFIT OF $‍1,865​ MILLION VERSUS. PROFIT OF $933 MILLION IN Q3 2016.QTRLY UPSTREAM UNDERLYING REPLACEMENT COST PROFIT BEFORE INTEREST AND TAX $1,562 ‍​ MILLION VERSUS LOSS OF $224 MILLION.Q3 UNDERLYING REPLACEMENT COST PROFIT ESTIMATE OF $1.58 BILLION - COMPANY COMPILED ESTIMATES.QTRLY DOWNSTREAM UNDERLYING REPLACEMENT COST (RC) PROFIT BEFORE INTEREST AND TAX $ ‍​ 2,338 MILLION VERSUS $1,431 MILLION.‍PRODUCTION FOR QUARTER WAS 2,462MBOE/D, 16.3% HIGHER THAN Q3 OF 2016​.UNDERLYING PRODUCTION* FOR QUARTER INCREASED BY 10.9%, DUE TO RAMP-UP OF MAJOR PROJECTS​.NET DEBT AT 30 SEPTEMBER 2017 WAS $39.8 BILLION, COMPARED WITH $32.4 BILLION A YEAR AGO.SEES Q4 REPORTED PRODUCTION TO BE HIGHER THAN Q3 ON CONTINUED RAMP-UP OF MAJOR PROJECTS, RECOVERY FROM SEASONAL TURNAROUND, MAINTENANCE ACTIVITIES​.‍IN Q4, EXPECT A HIGHER LEVEL OF TURNAROUND ACTIVITY​ IN DOWNSTREAM.ANNOUNCED A QUARTERLY DIVIDEND OF 10.00 CENTS PER ORDINARY SHARE ($0.600 PER ADS), WHICH IS EXPECTED TO BE PAID ON 21 DECEMBER 2017.SAYS IN DOWNSTREAM INDUSTRY REFINING MARGINS, EXPECT A NORMAL SEASONAL DECLINE IN Q4 COMPARED WITH Q3.  Full Article

BP Midstream Partners units open about 6.4 pct below IPO price Of $18.00 per unit‍​
Thursday, 26 Oct 2017 11:10am EDT 

Oct 26 (Reuters) - :BP Midstream Partners LP units open at $16.85 in debut on the NYSE versus IPO price of $18.00 per unit‍​.  Full Article

BP ‍says Carl-Henric Svanberg to retire as chairman​
Thursday, 19 Oct 2017 10:34am EDT 

Oct 19 (Reuters) - BP Plc ::‍CARL-HENRIC SVANBERG HAS INFORMED COMPANY'S BOARD OF DIRECTORS OF HIS INTENTION TO RETIRE AS CHAIRMAN​.‍SVANBERG WILL CHAIR ANNUAL GENERAL MEETING TO BE HELD IN MAY 2018 AND WILL REMAIN IN POSITION UNTIL A SUCCESSOR IS IN POST​.‍IAN DAVIS, BP BOARD'S SENIOR INDEPENDENT DIRECTOR, WILL NOW LEAD PROCESS TO IDENTIFY AND APPOINT BP'S NEXT CHAIRMAN​.  Full Article

BP Midstream sees IPO of 42.5 mln common units priced between $19 and $21 per common unit
Monday, 16 Oct 2017 07:24am EDT 

Oct 16 (Reuters) - Bp Plc :Sees IPO of 42.5 million common units priced between $19.00 and $21.00 per common unit - SEC filing.Intend to use estimated proceeds of about $804.8 million from offering to pay a distribution to bp Holdco.Board of general partner to adopt cash distribution policy to distribute minimum qtrly distribution of $0.2625 per unit.  Full Article

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BP seeks stake in Cairn Energy Senegal assets: sources

SYDNEY/LONDON Oil exploration company Cairn Energy is in talks with BP to sell a 30 percent stake in its deepwater SNE field offshore Senegal, which could be valued at around $600 million, banking sources and a Senegal oil ministry source said.