|Bid||559.60 x N/A|
|Ask||559.70 x N/A|
|Day's range||558.40 - 564.70|
|52-week range||481.35 - 603.20|
|Beta (3Y monthly)||1.59|
|PE ratio (TTM)||11.48|
|Earnings date||30 Jul 2019|
|Forward dividend & yield||0.31 (5.54%)|
|1y target est||7.99|
In a deal heralded as a "turning point" for the fossil fuels industry, oil giant BP has accepted that its plans for the future must now embrace the terms of the Paris climate change agreement. BP's chairman, Helge Lund, said a transition to a low-carbon economy was "in the best interests" of the company. Despite considerable security, with around 30 guards deployed into the exhibition centre where the meeting was held, it was still held up by a demonstration from climate change activists.
The FTSE 100 was up 0.3%, while the FTSE 250 rose 0.5%, with builder Galliford Try leading gains after announcing job cuts. After weeks of waiting for significant updates on Brexit, investors welcomed a "new deal" for Britain's departure from the European Union set out by Prime Minister Theresa May, which offered the prospect of a possible second referendum on the agreement.
Activists disrupted BP's annual shareholder meeting on Tuesday shouting "this is a crime scene" in the latest climate protest against the oil and gas group, while rival Royal Dutch Shell got some rare praise from investors on its emissions policies. Both oil giants have been working with shareholders in recent years to try to define a path towards meeting the goals of the 2015 Paris climate agreement to limit global warming. Two women protesters inside BP's annual general meeting (AGM) in Aberdeen, Scotland, were carried out by security staff, while others turned on an alarm during BP Chief Executive Bob Dudley's speech as activists complained the UK-based group was not doing enough to battle global warming.
Hopes for a speedy resumption of oil exports from Russia to Poland and Germany along the Druzhba pipeline route are fading after plans to remove dirty oil from the pipeline had a major setback last week, three trading sources said. Russia halted oil flows along the pipeline to Eastern Europe and Germany in April because of contaminated crude, leaving refiners in Europe scrambling to find supplies. Under the restart plan, Total was due to take the lion's share of the dirty oil into its Leuna refinery in Germany to dilute and process it there, sources said.
Here Are Wall Street Analysts' Top Integrated Energy Picks(Continued from Prior Part)BP stands in bottom twoBP (BP) is one of the two integrated energy stocks that has less than 60% “buy” ratings. ExxonMobil (XOM) is in the same boat with 23% of
ABERDEEN, Scotland (Reuters) - BP shareholders overwhelmingly approved a climate resolution on Tuesday backed by investors and the oil and gas company which calls for it to meet the 2015 Paris climate ...
Here Are Wall Street Analysts' Top Integrated Energy PicksA glimpse at analysts’ favorite stocksIn this article, we have ranked six global integrated energy firms based on the “buy” ratings received from Wall Street analysts.Total (TOT) has
It’s proof that investors have the clout to compel executives to pay attention to their environmental responsibilities – and suggests that threats to expel climate transgressors from stock exchanges are misguided. The shadow Chancellor of the Exchequer told the Guardian newspaper in an interview last week that he would consider changing the law to force the London Stock Exchange to de-list firms that fall short of their obligations to preserve the planet.
The environmental group said volunteers arrived at BP’s office at 3 a.m. on Monday. The protest echoes a similar days-long event organized by activists from Extinction Rebellion last month. Greenpeace said Monday it will stop protesting at BP if the company ends its investment in oil and gas entirely and becomes a renewable-energy company, or if it winds down its operations and chooses to go out of business.
Climate activists have blocked the entrance to BP's headquarters in central London and demanded that the firm halt all new oil and gas exploration.. Greenpeace set out a list of demands after a team descended on the property in St James' Square in the early hours of Monday. The activists encased themselves in five containers that were placed in front of entrances using a crane, before being removed by police.
Greenpeace activists blocked the entrance to BP's London headquarters on Monday, demanding one of the world's biggest energy companies ends all new oil and gas exploration or goes out of business. Greenpeace activists arrived at the building in St James' Square in central London at 0200 GMT and encased themselves in specially designed containers to block all of the main entrances. "BP is fuelling a climate emergency that threatens millions of lives and the future of the living world," said Paul Morozzo, a Greenpeace activist.
The indexes, however, fared better than their European peers whose chipmakers were hit as sentiment were grim in the wake of the crackdown on Huawei. Concerns about the possible escalation of the U.S.-China trade conflict hung in the air after Google suspended some business with Huawei. "Seeing as the U.S. have taken a tough stance against Huawei, traders are not hopeful that the US-China trade dispute will be resolved quickly," CMC Markets analyst David Madden.
Oil companies BP Plc and Royal Dutch Shell Plc are giving $1 million each to the Americans for Carbon Dividends advocacy campaign, underwriting its efforts to persuade Congress to enact a carbon tax-and-dividend plan. Meanwhile, dozens of corporations, including Capital One Financial Corp., software company Salesforce.com Inc., and health care giant Kaiser Permanente, will be pleading with Congress for a carbon tax.
LONDON (Reuters) - British police began removing Greenpeace activists who had blocked BP headquarters in London, a Reuters photographer at the scene said. Greenpeace activists arrived at BP in St James's ...
Total and Eni have stopped payments for the contaminated oil sold to them by Russian firms and said they will only pay when compensation is agreed, trading sources said, upping the stakes in what the sources say is Russia's worst oil supply disruption. The French and Italian oil majors told their suppliers, including Russia's Rosneft and Surgut, that they would be ready to make payments when the extent of damages is clear and would pay for clean oil when supplies resume, the sources said. Total and Eni are big buyers of Russian oil and are still purchasing it via multiple routes besides Druzhba, which is a major pipeline from Russia to Central Europe and Germany.
Greenpeace activists have blockaded all entrances to the BP headquarters in London, demanding an end to all new oil and gas exploration.The campaigners arrived at 3am on Monday and encased themselves in heavy containers before the oil company’s annual general meeting on Tuesday.> Activists are blocking the entrances to BP’s London HQ. They have set up camp inside specially designed containers. BP can’t continue as if it’s business as usual in this ClimateEmergency we’re in. BPshutdown pic.twitter.com/9FaaLMajo5> > — Greenpeace UK (@GreenpeaceUK) May 20, 2019The containers, each weighing several tonnes, are being used to blockade all five entrances to prevent staff from entering BP’s offices in St James’s Square.Two activists are encased in each of the five containers with enough provisions to last at least a week. Another 15 activists are occupying the top of the boxes after abseiling down the side of the building.Greenpeace said it was carrying out the action because BP was behaving as if the climate emergency was not happening.> We're blockading @BP_plc's London offices because they're acting as if the ClimateEmergency isn't happening. Instead, BP is investing billions in new oil and fueling the crisis that will harm billions BPShutdown pic.twitter.com/wlHYFSHESY> > — Greenpeace UK (@GreenpeaceUK) May 20, 2019The group accused BP of “fuelling” the emergency and called on the company to “end the search for new oil and gas and start a rapid switch to 100% renewables”.Speaking to the Guardian by phone from inside one of the boxes, the activist Paul Morozzo said: “The situation is so serious so it needs action. We are definitely keen to stay for as long as we can.”He and his fellow activist Darren Payne are in a box outside the main staff entrance to BP’s offices. He said: “We’ve got food, water, a small Portaloo and some books to read and phone communication. What more could anyone need?”Morozzo refused to say how the boxes were made or assembled but said they were designed to be impossible to move without harming those inside. “The police can’t move these things without hurting us and they can’t get in without risking us.”He added: “I’ve been told not to talk about our logistics because it’s useful for us for future actions not to disclose details.” But he said the container was so solid that he could only communicate with fellow activists chained to the top of the box by phone.“At some point, either me and Darren will fall out, or we will run out of food and water. There’s obviously a physical limit to how long we can stay. It’s highly likely we’ll be arrested eventually.”Morozzo is a 52-year-old direct action veteran. In 2016 he helped attach gas masks to several statues in London to protest against air pollution, and he was one of 17 campaigners who occupied the top of a chimney of a gas-fired power station in West Burton in Nottinghamshire in 2012.He said: “We were on top of a chimney for five days so it was quite similar in way. But this is a tiny space with no natural light. There’s some tiny air vents but you can’t really see outside. You can just about stand up and sit down but not much else.”He added: “One of the activists trained by spending a couple of days studying in a cupboard to get used to it.”In a statement, Morozzo said: “We’re shutting down BP’s HQ because business as usual is just not an option. BP is fuelling a climate emergency that threatens millions of lives and the future of the living world. The science is clear: we must stop searching for new oil and gas if we want a liveable planet. BP must clean up or clear out.” The containers feature photographs from Gideon Mendel’s Drowning World project, which looks at the impact of the climate emergency on people worldwide.A spokesman for Greenpeace said that by 8am on Monday police had attempted to clear the area of pedestrians but had not carried out any arrests. In an email to its employees, BP told head office staff to stay at home on Monday. Greenpeace activists position one of the heavy containers outside BP headquarters. Photograph: Jiri Rezac/Greenpeace/PAMorozzo added: “For too long, BP and the oil industry have paid lip service to climate action while lying and lobbying against it behind the scenes and spending billions scouring the world for more oil and gas. The reality is that BP’s whole business plan is a heavy bet against our hopes to avoid a climate catastrophe and must change.”Greenpeace claims BP is outspending other oil giants on lobbying campaigns against climate action and spent $16bn (£12.6bn) adding to its oil and gas reserves in 2018. It said only $500m (£392.8m) was invested in alternatives to fossil fuels.In February, hundreds of environmental activists occupied the British Museum in protest against BP’s longstanding sponsorship of the institution.The Metropolitan police said officers had been called to the offices just after 4am after reports of protesters scaling the building. A spokeswoman said police were at the scene but no arrests had been made or roads closed.BP said: “We welcome discussion, debate, even peaceful protest on the important matter of how we must all work together to address the climate challenge, but impeding safe entry and exit from an office building in this way is dangerous and clearly a matter for the police to resolve as swiftly as possible.”
Dead porgy fish stuck in oil near Port Sulphur, Louisiana. The 2010 BP oil spill in the Gulf of Mexico was one of the largest environmental disasters in American history. Photograph: Sean Gardner/ReutersBP stepped up its campaign to be allowed to drill for oil in the Arctic sea and an Alaskan wildlife refuge after Donald Trump was elected president, according to documents that detail the British firm’s lobbying efforts.Documents written by BP and oil industry groups show how the oil “supermajor” seized on the opportunity presented by Trump’s 2016 election victory to expand its offshore business, just seven years after the Gulf of Mexico oil spill.Areas it targeted include the Arctic sea, where experts have warned an oil spill could be an ecological disaster, as well as the Arctic National Wildlife Refuge (ANWR), not far from where BP spilled 222,000 gallons of oil at Prudhoe Bay in 2006.Despite the reputational damage it had suffered after successive spills, BP played a key role in lobbying the government to loosen restrictions on oil drilling, according to documents obtained by Greenpeace’s investigative unit, Unearthed and shared with the Guardian.Within a year of taking office, the president sought to overturn drilling bans introduced under the Obama administration in the wake of the 2010 spill, in which millions of gallons of oil spewed into the sea off the US south coast.In February 2017, a month after Trump’s inauguration, the American Petroleum Institute (API), of which BP is a member, wrote to the Department of the Interior calling for the reversal of an executive order by Barack Obama in 2014 banning oil drilling in large areas of the Atlantic and Arctic.Lobbying disclosures made by BP America show that the company also intervened independently, making representations on issues relating to “Arctic oil and gas development”.That same month, Trump reversed Obama’s executive order, a decision that was later itself overturned by a federal judge in Alaska and remains the subject of a legal dispute.Separate communication between BP and the Trump administration reveals that BP was not satisfied by Trump’s efforts to open up the Arctic.In August 2017, BP’s regional president in the Gulf of Mexico, Richard Morrison, wrote to Kelly Hammerle, national programme manager of the Bureau of Ocean Energy Management (BOEM), which oversees offshore oil development, urging the organisation to expand the areas open for drilling.Morrison also signed a joint industry letter which urged the BOEM to “make new areas in the Atlantic, eastern Gulf of Mexico, Beaufort and Chukchi seas off Alaska, and the Pacific available for leasing as part of the programme”.In January 2018, the Trump administration unveiled plans to allow oil exploitation in almost all US offshore territory, including previously protected areas.In March 2018, BP pressed for even more measures to support its offshore ambitions.Starlee Sykes, BP’s regional president for the Gulf of Mexico and Canada, called on Hammerle to take “additional steps … to support this administration’s agenda of increasing exploration and production”.She said these should include relief on royalties for less profitable oil fields, which she described as a “win-win”.BP also took part in industry lobbying to permit oil exploration in the ANWR on the state’s north coast, home to polar bears, caribou, musk-oxen and migratory birds, the documents show.Restrictions on drilling in the area were lifted as part of Trump’s tax reform bill in December 2017.When the interior department kicked off the process of leasing areas for exploration in January last year, the BP Alaska president, Janet Weiss, wrote to officials welcoming the move.A day after that letter was sent, BP America’s president, Susan Dio, told a meeting of the Resource Development Council of Alaska that the decision to permit drilling in the ANWR was a “big policy victory”.The ANWR lies less than 120 miles (200km) to the east of Prudhoe Bay. In 2017, a BP oil well on Alaska’s North Slope blew out, venting natural gas and spraying a mist of crude oil over one acre of tundra of before the company plugged the leak.API ran targeted Facebook ads, which did not mention oil industry sponsorship, urging Americans to support oil exploration in the area, which it said would have “minimal environmental impact”.Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskBP has claimed that development of new oil and gas fields is compatible with limiting global carbon emissions in line with the Paris accords intended to address the climate crisis.A BP spokesman said: “We review access and exploration possibilities worldwide, and consider participating only if they are consistent with our strategy, competitive with opportunities we have elsewhere and we are confident that we can operate safely and responsibly, meeting regulatory requirements and our own high standards.”Charlie Kronick, oil campaigner at Greenpeace UK, said: “This should put paid to any claim that BP are at all consistent with the Paris agreement. We already have far more oil and gas than we can afford to burn if we want to meet the Paris target. Yet BP still plan to spend billions of dollars a year for the next decade to add to their oil and gas reserves.”
* BP has brought forward a planned turnaround on the 200,000 barrel per day crude unit (CDU3) at its Rotterdam, Netherlands, oil refinery to May, traders said. * The maintenance on the CDU, along with a 29,000 bpd reformer and other units, is expected to last for 4-6 weeks, traders said.
BP will face pressure at a meeting next week to set tougher targets to combat climate change, the latest signal from investors that they want the oil and gas industry to do more to clean up its act. After BP's 2018 carbon emissions rose to their highest in six years, the London-based major is being lobbied by activists and an increasing number of shareholders to ensure its operations are in line with goals set by the 2015 Paris climate deal to curb global warming. BP has already backed a resolution being put to investors on Tuesday for it to be more transparent about its emissions, link executive pay to reducing emissions from BP's operations and show how future investments meet Paris goals.
Are ExxonMobil, Chevron, Shell, and BP on the Rise in Q2?(Continued from Prior Part)Integrated energy stocks’ valuationIn this article, we’ll evaluate the forward valuations of integrated stocks ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell