|Bid||466.05 x 0|
|Ask||466.10 x 0|
|Day's range||465.90 - 471.20|
|52-week range||452.38 - 583.40|
|Beta (3Y monthly)||0.57|
|PE ratio (TTM)||19.92|
|Earnings date||3 Feb 2020 - 7 Feb 2020|
|Forward dividend & yield||0.32 (6.74%)|
|1y target est||7.99|
Environmental law charity Clientearth has accused BP of “misleading” the public regarding its low-carbon credentials with its multimillion-pound advertising campaign
BP boosts stake in solar firm amid clean energy plan for its officesOil and gas firm will buy new shares from startup Lighthouse BP for undisclosed price
BP is increasing its stake in solar energy developer Lightsource BP to 50% from 43% and is aiming for rapid growth over the next few years, the two companies said on Thursday. European oil companies like BP have been stepping up investment in renewable power to diversify their businesses in the face of global moves towards a lower carbon economy to combat climate change. Dev Sanyal, chief executive at BP’s Alternative Energy division said, renewables were attractive even though they usually offered lower returns than the company's traditional oil and gas business.
BP is increasing its stake in Lightsource BP to 50% from its current 43%, the solar energy developer said in a statement on Thursday. The new investment will simplify the joint venture structure with BP as Lightsource BP seeks to accelerate its drive towards 10 gigawatts of developed assets by the end of 2023. Financial details of the new investment were not revealed.
Activists call for BP ads to carry 'climate damage' warningClientEarth lodges complaint with OECD that claims advertisements are misleading
U.S. Supreme Court justices on Tuesday appeared inclined to shield a unit of British oil major BP Plc from claims seeking a more extensive cleanup of a Superfund hazardous waste site in Montana than what federal environmental officials had ordered. The nine justices heard arguments in an appeal by Atlantic Richfield Co of a Montana state court ruling allowing a group of private landowners within the sprawling site of its former Anaconda copper smelter in western Montana to bring their claims for restoration damages to trial. Liberal and conservative justices alike signaled their concern that landowners could interfere with land remediation efforts ordered by the U.S. Environmental Protection Agency.
British oil major BP Plc and U.S. commodities trader Bunge Ltd announced on Monday the completion of a deal to combine their sugar and ethanol operations in Brazil, creating the world's second largest cane processor. The 50-50 joint venture BP Bunge Bioenergia, which will manage 11 plants in five Brazilian states with a total capacity to crush 32 million tonnes of sugarcane per year, will rank only behind Raízen, the joint venture between Royal Dutch Shell Plc and Brazilian energy group Cosan SA.
Turkey and Azerbaijan formally marked the completion of the Trans-Anatolian Natural Gas Pipeline (TANAP) on Saturday, a milestone in a major project to help reduce Europe's dependence on Russian gas. TANAP comprises the longest stretch of the $40 billion Southern Gas Corridor, a series of pipelines that will carry gas from Azerbaijan's Shah Deniz II field to Europe.
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Bids for North Sea oil and gas firm Siccar Point, backed by private equity groups Blackstone and Blue Water Energy, came in at between $1.2 billion and just under $2 billion, according to three industry sources. Bidders in the first round, which ended on Nov. 7, include EIG-backed Chrysaor, private equity fund HitecVision, North Sea-focused oil and gas group RockRose and Norwegian oil major Equinor, the sources said.
Airlines are confident of having sufficient supplies of biofuel-infused jet fuel to comply with a Norway requirement which takes effect next year, although they warn of additional costs. From January, jet fuel suppliers in Norway must blend 0.5% of biofuel in all their aviation fuel, a policy Oslo hopes will boost supply and demand and lead to lower CO2 emissions.
The head of BP in the UK and Europe has told Sky News he is "disappointed" arts institutions including the Royal Shakespeare Company have ended their partnership with the oil giant. Peter Mather said it was wrong to "demonise and ostracise" BP from the debate over climate change as the firm could be "very much part of the solution and part of the future". It comes as climate protesters from the group BP Or Not BP blocked a VIP reception at the BP-sponsored Troy exhibition at the British Museum.
(Bloomberg) -- Reliance Industries Ltd., run by Asia’s richest man Mukesh Ambani, has eclipsed BP Plc to break into an elite club of energy supermajors.The Indian conglomerate is now valued at $138 billion, compared with the British energy giant’s $132 billion value at the close of trading on Tuesday. Reliance’s shares have increased at three times the pace of India’s benchmark index this year after its billionaire owner in August announced plans to cut the company’s net debt to zero in 18 months through measures including a stake sale in the oil-to-chemicals business to Saudi Aramco.The surge in shares gives Ambani a net worth of $56 billion, making him Asia’s richest person, above Alibaba Group’s Jack Ma, according to the Bloomberg Billionaires Index. Reliance’s market value briefly surpassed BP for the first time at the end of last month, and it has now regained the lead over the British company after its shares hit a fresh high in Mumbai on Wednesday.It also narrowing the gap with PetroChina Co., currently Asia’s biggest oil firm by value, and is within a whisker of becoming the first Indian company to hit the 10 trillion rupee market-cap milestone.Reliance has rallied 40% this year, compared with BP’s 1.2% gain as it works on cutting high debt levels. Oil companies have struggled because of swings in crude prices and as uncertainty persists over future energy demand.Reliance, meanwhile, has benefited in a number of ways. It operates the world’s biggest oil-refining complex in western India, which can process low-quality crude and turn it into higher-grade fuels, partly protecting it from volatility in prices.Telecom, RetailWhile Reliance gets two-third of its revenue from energy, Ambani has also made massive investments in telecom and digital services as he looks to benefit from growing demand in the world’s second-biggest market for mobile phone users. He has also expanded the company’s retail business to take on Amazon.com Inc. and Walmart Inc.The telecom unit, Reliance Jio, which claims to be world’s largest mobile data network, was also bolstered by a recent blow to India’s wireless carriers that left Ambani’s company largely unscathed. On Tuesday, Jio said it will take steps including an appropriate increase in tariffs in the next few weeks.Reliance is now the world’s sixth-largest oil company, with Exxon Mobil Corp. topping the list with a market value of about $290 billion. Aramco, formally known as Saudi Arabian Oil Co., is planning an initial public offering with a valuation target of between $1.6 trillion and $1.7 trillion, which would make it the world’s biggest.(Updates with superlative on market value in fifth paragraph)\--With assistance from Ravil Shirodkar and P R Sanjai.To contact the reporter on this story: Debjit Chakraborty in New Delhi at firstname.lastname@example.orgTo contact the editors responsible for this story: Serene Cheong at email@example.com, Rakteem Katakey, Abhay SinghFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Foreign oil stocks seem to be weathering the current environment better than US drillers, and some of them have managed to significantly raise profits over the last few quarters
* Western Desert sale process to launch end of Nov. LONDON, Nov 15 (Reuters) - Royal Dutch Shell has appointed investment bank Citi to run the sale of its onshore Egyptian oil and gas assets which could fetch around $1 billion, sources close to the process said. The sale process is expected to be officially launched at the end of November, the sources said.