|Bid||517.70 x 0|
|Ask||517.70 x 0|
|Day's range||516.10 - 521.64|
|52-week range||481.35 - 603.20|
|Beta (3Y monthly)||1.31|
|PE ratio (TTM)||10.61|
|Earnings date||30 Jul 2019|
|Forward dividend & yield||0.32 (6.26%)|
|1y target est||7.99|
Operation of Train 3 at BP's Tangguh liquefied natural gas plant in Indonesia is expected to be delayed by a year, Fatar Yani Abdurrahman, deputy chief of upstream oil and gas regulator SKK Migas, told reporters. A number of natural disasters across Indonesia have delayed shipments of construction material needed in Tangguh, he said, adding that financial difficulty faced by one contractor had also hampered progress.
Royston Wild looks at a few FTSE 100 (INDEXFTSE: UKX) shares that could fly next month. Are they great ways to bolster your income flows?
Norwegian investment firm Aker could launch its planned initial public offering (IPO) of Aker Energy in late 2019 or in 2020, depending on when Ghana approves the development plan of its Pecan oilfield, the CEO said. The company, controlled by Norwegian billionaire Kjell Inge Roekke, has said it wants to make Aker Energy a leading exploration and production company on Ghana's continental shelf. "My educated guess is a late 2019 or during the course of next year," Aker Chief Executive Oeyvind Eriksen told Reuters when asked about the IPO plans.
Britain's FTSE 100 followed other major stock markets lower on Thursday as initial batches of corporate earnings jangled nerves over global growth, while losses for London's mid-cap index were capped by a buyout of pub operator Ei Group. All but two of the blue-chip index's sectors ended in the red as it shed 0.5% - its biggest intraday fall in nearly two weeks, while the mid-cap FTSE 250 lost 0.4%.
Britain is rightly concerned about protecting its goods in the Strait of Hormuz, defence minister Penny Mordaunt said on Thursday following tensions with Iran over the passage of vessels in the Gulf. Relations between Tehran and the West have been increasingly strained after Britain seized an Iranian tanker in Gibraltar and London said the British Heritage, operated by oil company BP, had been approached in the strait between Iran and the Arabian peninsula. "We are rightly concerned about protecting our goods in the Straits of Hormuz," she said.
Total SA (TOT) is scheduled to announce its second-quarter results on July 25. Analysts expect the company to post 2% lower earnings YoY in the second quarter.
European stock markets lost ground on Wednesday after three straight days of gains, with Swedish share prices hit by a slew of poor quarterly results and oil majors across the region reeling from this week's slide in oil prices. The pan-European STOXX 600 ended down 0.4%, with Stockholm-listed shares suffering their biggest percentage loss since May on falls for Ericsson, Swedbank and engineering group Alfa Laval.
The FTSE 100 index tumbled on Wednesday amid sharp falls in oil majors as investors priced in an overnight slide in crude to one-week lows, while downbeat trading updates knocked chemicals group Johnson Matthey and miner Fresnillo. Shell and BP slipped 1.5% and 2.9% respectively, and were the biggest drags on the blue-chip index, pulling the FTSE 100 0.6% lower even as global oil prices recovered some ground.
Vitol and Total won a tender from India's IOC which closed on Thursday, with the latter due to send a Suezmax for an unspecified grade of West African crude. * European gasoline cracks have benefitted from the shutdown at Philadelphia's main refinery, providing a boon for Nigerian. * Although the Philadelphia Energy Refinery (PES) facility was a consistent buyer of West African and especially Nigerian crude, only one cargo bound for Philadelphia has been diverted since a fire partially shut down operations.
Britain is not seeking to escalate the situation with Iran, foreign minister Jeremy Hunt said on Friday, as tensions continue between London and Tehran over a seized Iranian tanker and the passage of vessels through the Strait of Hormuz. Relations between Iran and the West have been increasingly strained after Britain seized an Iranian tanker in Gibraltar and London said the British Heritage, operated by oil company BP, had been approached by Iranian vessels in the strait between Iran and the Arabian peninsula. "We are reacting to what is happening in a measured and careful way and we are being clear to Iran that we are not seeking to escalate this situation," Jeremy Hunt told Sky News.
Discussions between Britain and the United States on building up their military presence in the Gulf are ongoing, Prime Minister Theresa May's spokeswoman said on Friday amid tensions with Iran. Relations between Tehran and the West have been increasingly strained after Britain seized an Iranian tanker in Gibraltar and London said the British Heritage, operated by oil company BP, had been approached in the strait between Iran and the Arabian peninsula. "We are talking to the US about building on our presence in the face of recent threats to shipping in the area," May's spokeswoman said on Friday.
Norwegian oil firm Aker BP has made an oil discovery off Norway which could strengthen its hand in negotiations with sometimes partner Equinor on how to develop fields. Aker BP, formed from a merger of BP's Norwegian oil assets and the Det norske oil firm controlled by billionaire Kjell-Inge Roekke, said on Thursday it had made an oil discovery with its Polish partner LOTOS. The find is estimated to hold between 80 million and 200 million barrels of recoverable oil equivalent (boe), in an area with several oil and gas discoveries, nicknamed NOAKA.
Three Iranian vessels tried to block a British-owned tanker passing through the strait that controls the flow of Middle East oil to the world, but backed off when confronted by a Royal Navy warship, Britain said on Thursday. A week after Britain seized an Iranian tanker accused of violating sanctions on Syria, London said the British Heritage, operated by oil company BP, had been approached in the Strait of Hormuz between Iran and the Arabian peninsula.
Nigerian oil was selling consistently on good European gasoline margins as a handful of spot cargoes remained for July loading -- though a sizeable overhang looms -- while traders reported an outage to the Saturno crude stream offshore Angola. * High European gasoline cracks provided an incentive for imports of Nigerian oil, as the Philadelphia refinery outage has boosted margins and gasoline exports from Europe. * Around 6-8 cargoes of Nigerian crude were heard to remain for July loading.
(Bloomberg) -- The HMS Montrose, the naval vessel that protected a BP Plc oil tanker as it passed through the Strait of Hormuz, is the U.K.’s only warship in the area, according to Britain’s Ministry of Defence. It has several other naval vessels in the Gulf, it said.The U.K. government said the Montrose had to warn three Iranian vessels to stay away from the tanker, the British Heritage. The oil carrier didn’t load a planned cargo of Iraqi crude and instead left the region empty, according to a person familiar with the matter. BP was concerned it could be a target for Iran after British Royal Marines helped to seize a tanker transporting the Persian Gulf country’s crude in the Mediterranean Sea. The master and chief officer of that ship have been arrested, Gibraltar’s government said Thursday.Here are responses from the MoD to questions from Bloomberg:Question: For how long has HMS Montrose been in the area? Answer: HMS Montrose has been in the Gulf since late 2018.Q: Was it there to escort vessels through Strait of Hormuz? A: HMS Montrose was in the area providing a maritime security role.Q: Was it an Iran Revolutionary Guard Corps vessels? Or some other Iranian entity? A: IRGC vessels.Q: Where did the confrontation happen? (nearest city on the Iranian side/landfall?) A: The incident involving HMS Montrose took place in international waters.(Updates with information about arrest of tanker officials in 2nd paragraph.)To contact the reporter on this story: Verity Ratcliffe in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Alaric Nightingale at email@example.com, Brian WingfieldFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Britain does not intend to escort every British-flagged merchant vessel through the Strait of Hormuz, a security source said on Thursday, after a Royal Navy warship had to stop three Iranian vessels from blocking the passage of a BP-operated tanker. The source said London would be resolute in defending its maritime interests in the Gulf but it does not want to escalate the situation with Iran. Exactly a week after Britain seized an Iranian tanker in Gibraltar accused of violating sanctions on Syria, London said the British Heritage tanker operated by oil company BP had been approached in the Strait, the main outlet for Middle Eastern oil.
Three Iranian vessels tried to block the passage of a BP-operated tanker through the Strait of Hormuz but withdrew after warnings from a British warship, the British government said on Thursday. The stand off followed a warning by U.S. President Donald Trump that U.S. sanctions on Iran would soon be "substantially" increased as part of Washington's drive to curb Iran's nuclear activities and regional behaviour. Britain urged Iran to "de-escalate the situation in the region" after the incident involving British Heritage, which is operated by BP under an Isle of Man flag.