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BP PLC (BP_p.L)

BP_p.L on London Stock Exchange

167.50GBp
16 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Aker BP raises 2018 dividend plan to $450 mln, sees further increase
Monday, 15 Jan 2018 01:17am EST 

Jan 15 (Reuters) - Aker Bp Asa ::‍DURING 2017, AKER BP INCREASED ITS RESERVES (2P) BY A NET OF 202 MILLION BARRELS OF OIL EQUIVALENTS (MMBOE), TO A TOTAL OF 913 MMBOE​.‍TO INCREASE DIVIDENDS FOR 2018 TO USD 450 MILLION.CLEAR AMBITION TO GROW DIVIDENDS FURTHER IN COMING YEARS BY USD 100 MILLION ANNUALLY TO 2021​​.‍AKER BP'S PRO-FORMA PRODUCTION IN 2017 WAS 160 MBOEPD, INCLUDING PRODUCTION FROM HESS NORWAY​.‍2018 PRODUCTION IS EXPECTED TO BE BETWEEN 155 AND 160 MBOEPD, WITH AN AVERAGE PRODUCTION COST OF 12 USD/BOE​.‍WITH ITS CURRENT PORTFOLIO, COMPANY HAS POTENTIAL TO PRODUCE 330 MBOEPD IN 2023​.‍WHILE COMPANY'S OIL AND GAS RESERVES GREW TO 913 MMBOE AT END OF 2017, CONTINGENT RESOURCES WERE ESTIMATED AT 785 MMBOE AT YEAR-END 2017, EACH WITH AN INCREASE OF APPROXIMATELY 30 PERCENT FROM PREVIOUS YEAR​.‍ORGANIC RESERVE REPLACEMENT RATIO (RRR) WAS 2.3 TIMES PRODUCTION, AND TOTAL RRR WAS 4.5 TIMES.​.‍HAS AN AMBITION TO DISCOVER A NET OF 250 MMBOE OIL AND GAS IN 2016 - 2020 PERIOD​.‍COMPANY WILL CONTINUE ITS ACTIVE EXPLORATION STRATEGY IN 2018 WITH 12 EXPLORATION WELLS TO BE DRILLED, WITH RISKED PRE-DRILL ESTIMATES RANGING FROM 50 - 150 MMBOE NET TO AKER BP​.‍FURTHER INFILL WELLS AT ULA AND TAMBAR ARE BEING EVALUATED, AND ODA DEVELOPMENT IS ONGOING​.‍TAMBAR RE-DEVELOPMENT IS WELL UNDERWAY, EXPECTING FIRST OIL IN 2018​.2018 ‍CAPEX SEEN AT AROUND USD 1.3 BILLION​.2018 EXPEX SEEN AT AROUND USD 350 MILLION​.2018 DECOM EXPENDITURE SEEN AT AROUND USD 350 MILLION​.  Full Article

‍Aker BP produced 135,600 boe per day in Q4 2017, in line with guidance
Monday, 15 Jan 2018 01:08am EST 

Jan 15 (Reuters) - Aker Bp Asa ::AKERBP: FOURTH QUARTER 2017 PRODUCTION.‍AKER BP ASA PRODUCED 135.6 THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY («MBOEPD») IN Q4 2017​.‍FOR YEAR 2017, COMPANY'S PRODUCTION AVERAGED 138.8 MBOEPD, IN LINE WITH LATEST GUIDANCE.  Full Article

BP Awards Jacobs Phase 2 Of Gas Project In Oman
Wednesday, 10 Jan 2018 07:45am EST 

Jan 10 (Reuters) - Jacobs Engineering Group Inc ::BP AWARDS JACOBS PHASE 2 OF THE KHAZZAN TIGHT GAS PROJECT IN THE SULTANATE OF OMAN.JACOBS ENGINEERING - ‍SELECTED BY BP TO PROVIDE ENGINEERING, PROCUREMENT,CONSTRUCTION MANAGEMENT SERVICES FOR PHASE 2 OF KHAZZAN PROJECT IN OMAN.  Full Article

ArcLight Capital Buys Interest In Deepwater Perdido Platform From BP
Wednesday, 3 Jan 2018 12:07pm EST 

Jan 3 (Reuters) - ArcLight Capital Partners::ARCLIGHT CAPITAL ACQUIRES INTEREST IN DEEPWATER PERDIDO PLATFORM FROM BP.AN AFFILIATE ACQUIRED 26.5% NON-OPERATED INTEREST IN PERDIDO REGIONAL HOST FROM BP EXPLORATION & PRODUCTION.  Full Article

BP To Invest $200 Mln In Lightsource Over 3 Years For 43 Pct Stake
Friday, 15 Dec 2017 01:23am EST 

Dec 15 (Reuters) - BP Plc ::BP TO INVEST $200M IN LIGHTSOURCE OVER THREE YEARS FOR A 43% STAKE IN THE BUSINESS‍​.LIGHTSOURCE TO REBRAND AS LIGHTSOURCE BP‍​.‍WILL PAY LIGHTSOURCE $50MILLION ON COMPLETION OF AGREEMENT, WITH BALANCE PAID IN INSTALMENTS OVER THREE YEARS​.LIGHTSOURCE WERE ADVISED BY ROTHSCHILD, WHITE AND CASE, DELOITTE AND BAKER & MCKENZIE.  Full Article

BP says Consulting With Lawyers After Australian Watchdog Blocks Woolworths Deal
Wednesday, 13 Dec 2017 06:25pm EST 

Dec 14 (Reuters) - BP Plc ::ACKNOWLEDGES ANNOUNCEMENT BY AUSTRALIAN COMPETITION AND CONSUMER COMMISSION THAT IT INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS’ RETAIL FUEL BUSINESS."REMAIN CONFIDENT,WITH APPROPRIATE DIVESTMENTS AS OFFERED BY BP,WOOLWORTHS' RETAIL FUEL BUSINESS DEAL WOULD NOT SUBSTANTIALLY LESSEN COMPETITION‍​".CURRENTLY CONSULTING WITH LAWYERS TO DETERMINE NEXT STEPS AFTER ACCC INTENDS TO OPPOSE PROPOSED ACQUISITION OF WOOLWORTHS' RETAIL FUEL BUSINESS.  Full Article

Australian Competition and Consumer Commission To Oppose BP's Acquisition Of Woolworths Service
Wednesday, 13 Dec 2017 05:12pm EST 

Dec 14 (Reuters) - Australian Competition and Consumer Commission::ACCC TO OPPOSE BP'S ACQUISITION-WOW'S SERVICE STATIONS.TO OPPOSE BP'S ACQUISITION OF WOOLWORTHS SERVICE."‍BP ACQUIRING WOOLWORTHS' SERVICE STATIONS WILL BE LIKELY TO SUBSTANTIALLY LESSEN COMPETITION IN RETAIL SUPPLY OF FUEL"​."‍BELIEVE THAT FUEL PRICES WILL LIKELY INCREASE AT WOOLWORTHS SITES IF BP ACQUIRES THEM AND OTHER RETAILERS WOULD THEN FACE LESS COMPETITIVE PRESSURE"​."DETERMINED THAT UNDERLYING CONCERNS ARISING FROM PROPOSED ACQUISITION WOULD NOT BE ADDRESSED BY DIVESTMENTS PROPOSED BY BP"​.  Full Article

Petrofac Says Awarded Contract Worth About $800 Mln By BP
Tuesday, 12 Dec 2017 10:11am EST 

Dec 12 (Reuters) - PETROFAC LTD ::PETROFAC AWARDED CONTRACT FOR KHAZZAN.AWARDED CONTRACT WORTH ABOUT US$800 MILLION BY BP FOR PHASE 2 CENTRAL PROCESSING FACILITY AT KHAZZAN PHASE 2 (GHAZEER) GAS DEVELOPMENT IN SULTANATE OF OMAN​.PROJECT COMPRISES ADDITION OF A THIRD GAS TRAIN WITH A CAPACITY FOR NOMINALLY HANDLING 500 MILLION STANDARD CUBIC FEET OF GAS PER DAY.  Full Article

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

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Alaska oil producers focus on efficiencies, not $70 oil

ANCHORAGE, Alaska The rebound in the price of crude oil in recent months that has helped producers will be temporary, and the industry must prepare for competition from energy sources elsewhere, the head of the Alaska operations of BP Plc said at an industry conference on Friday.