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BP PLC (BP)

BP on New York Consolidated

39.93USD
11 Dec 2017
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Latest Key Developments (Source: Significant Developments)

BP ‍To Build A New Lubricants Blending Plant In China​
Wednesday, 6 Dec 2017 04:12am EST 

Dec 6 (Reuters) - Bp Plc ::‍TO BUILD A NEW LUBRICANTS BLENDING PLANT IN CHINA​.‍NEW LUBRICANTS BLENDING PLANT IN CHINA WITH EXPECTED INVESTMENT OF AROUND RMB1.5 BILLION​.‍NEW PLANT EXPECTED TO START OPERATION BEFORE END OF 2021​.NEW PLANT ‍WILL HAVE AN ANNUAL PRODUCTION CAPACITY OF 200,000 TONS​.  Full Article

BP Biofuels And Copersucar Form Joint Venture To Operate Ethanol Storage Terminal
Thursday, 30 Nov 2017 03:42am EST 

Nov 30 (Reuters) - BP Plc ::BP PLC - BP BIOFUELS AND COPERSUCAR TODAY ANNOUNCED THAT THEY HAVE AGREED TO FORM A JOINT VENTURE.BP PLC - JOINT VENTURE TO OWN AND OPERATE A MAJOR ETHANOL STORAGE TERMINAL IN BRAZIL.BP PLC - COMMERCIAL DETAILS OF THIS TRANSACTION ARE NOT BEING RELEASED.  Full Article

ACCC To Delay Consideration Of BP's Acquisition Of Woolworths' Service Stations ‍​
Wednesday, 29 Nov 2017 12:10am EST 

Nov 29 (Reuters) - Australian Competition & Consumer Commission::TO DELAY CONSIDERATION OF BP'S ACQUISITION OF WOOLWORTHS' SERVICE STATIONS ‍​.EXPECTED NEW DECISION DATE IS DEC. 14, 2017‍​.EXTENSION TO THE CONSIDERATION PERIOD WILL ALLOW THE ACCC TO CONSIDER FURTHER INFORMATION FROM THE PARTIES‍​.  Full Article

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

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Britain's biggest oil pipeline shut 'for weeks' for repairs

LONDON Britain's largest oil pipeline could shut down for weeks for unscheduled repair work, sending the price of crude to new two-year highs and triggering a steep rally in natural gas prices, just as a cold snap sweeps the country.