|Bid||300.55 x 0|
|Ask||300.85 x 0|
|Day's range||296.55 - 337.00|
|52-week range||4.69 - 583.40|
|Beta (5Y monthly)||0.64|
|PE ratio (TTM)||15.51|
|Earnings date||28 Apr 2020|
|Forward dividend & yield||0.33 (9.68%)|
|Ex-dividend date||13 Feb 2020|
|1y target est||7.99|
Equinor will leave industry lobby group the Independent Petroleum Association of America (IPAA) over a disagreement about climate policy, the energy producer said on Friday. The Norwegian company is undertaking a review of its memberships of industry associations under an agreement with a group of institutional investors, the Climate Action 100+, signed last April. The Washington-headquartered IPAA represents thousands of independent oil and natural gas producers and service companies across the United States.
An activist group has withdrawn a shareholder resolution urging BP to adhere to the Paris climate agreement after the oil and gas company agreed to work together on a joint resolution. BP and climate-focused Follow This have agreed to jointly draft a shareholder resolution on BP's climate goals for its 2021 annual general meeting (AGM), they said in a statement on Friday. Follow This agreed to pull a resolution it filed independently ahead of BP's 2020 AGM, planned for May.
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals. International crude oil prices have lost about 45% this month and fallen below the cost of much of the world's production, causing energy companies worldwide to slash spending by tens of billions of dollars. The collapse in demand and of energy diplomacy between Saudi Arabia, Russia and others have triggered unprecedented responses from governments and investors.
The world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia. Cuts already announced by seven major oil companies including Saudi Aramco and Royal Dutch Shell come to a combined $25 billion, or a drop of 20% from their initial spending plans of $127 billion. Others such as U.S. giant Exxon Mobil Corp and Britain's BP have said they will cut capital expenditure but haven't given specific figures as yet.
The world's biggest oil and gas firms should break an industry taboo and consider cutting dividends, rather than taking on any more debt to maintain payouts as they weather the fallout from the coronavirus pandemic, investors say. The top five so-called oil majors have avoided reducing dividends for years to keep investors sweet and added a combined $25 billion to debt levels in 2019 to maintain capital spending, while giving back billions to shareholders. The strategy was designed to maintain the appeal of oil company stocks as investors came under increased pressure from climate activists to ditch the shares and help the world move faster towards meeting carbon emissions targets.
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Britain's Deliveroo announced two services on Tuesday that could help people who are self-isolating due to the coronavirus - the first supplying essentials such as tinned goods, pasta and household items, and secondly, a tie-up with Marks & Spencer's stores on BP forecourts. The company, known for its online restaurant delivery service, said its "Essentials by Deliveroo" service would offer convenience items to people at home, especially the elderly and vulnerable who are staying at home to reduce the risk of coronavirus. It has already gone live in Cambridge and will be rolled out in Reading, Brighton, Nottingham, Manchester, Leeds and London over the next two weeks, Deliveroo said.
Spending on new oil and gas projects could fall by more than two thirds this year if oil prices remain at the current levels, the Oslo-based Rystad Energy consultancy said on Monday. Crude oil prices dropped more than 60% since the start of the year as demand fell due to travel and business restrictions to stem the spread of the coronavirus, while Russia and Saudi Arabia ended an agreement to curb production. North Sea oil was trading at $25.7 a barrel by 1533 GMT on Monday.
Most North Sea oil and gas fields can make money at $30 a barrel, but stakeholders in the fields that have to be shut in the current price rout are set to face a huge bill for removing facilities like platforms and subsea infrastructure, Wood Mackenzie said. The North Sea between Britain and Norway, home of the Brent crude stream that underpins global oil prices, is one of the world's oldest and most expensive oil basins. Crude oil prices have posted four straight weeks of losses and dropped more than 60% since the start of the year.
Shell said on Monday it would cut operating costs by up to $4bn, reduce planned spending by $5bn in 2020, and abandon a $1bn share buyback.
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Rupert Hargreaves considers whether investors can rely on the BP share price to produce a steady income in these times of crisis.The post Is the 15% dividend yield on BP shares safe? appeared first on The Motley Fool UK.
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The London-based firm said it has implemented a new 'team-based' shift model to restrict contact between two teams at major operational sites, including refineries. Several oil and gas firms, including BP, have announced spending cuts, sparked by the spread of the coronavirus and the collapse of a supply cut deal between major oil producing nations.
The BP share price keeps falling and the oil giant now yields 15%. Roland Head explains why he thinks investors should be buying at current levels.The post The BP share price has crashed 50%. Here's why I'd buy appeared first on The Motley Fool UK.
The FTSE 100 edged higher in a choppy start on Thursday, supported by a jump in the shares of tobacco company BAT and a weaker pound as London braced for a virtual shutdown due to the spread of the novel coronavirus. The internationally focussed FTSE 100 rose 0.7% by 0827 GMT, as exporters benefitted from a plunge in sterling to its lowest level since March 1985. British American Tobacco climbed 3.7% after it said the outbreak has not had any material impact, while shares of other blue-chip companies including Diageo, BP and Unilever rose more than 3%.
Britain's oil and gas sector needs financial help to survive, industry body OGUK said, as the oil price crash triggered by the coronavirus and a Saudi-Russian price war means they may be unable to keep producing hydrocarbons in the North Sea. Benchmark oil prices on Wednesday fell to around $25 a barrel, their lowest level in 17 years, as measures to tackle the virus outbreak have had a drastic impact on demand.
Italian energy group Eni followed rivals on Wednesday by cancelling a share buyback and sharply cutting investments as a result of the coronavirus outbreak and falling oil prices. "Eni's priorities at the moment are safeguarding the health of our people and the communities we operate in, as well as our robust balance sheet and the dividend," Eni CEO Claudio Descalzi said in a statement. Oil prices plunged on Wednesday after Goldman Sachs said lockdowns to counter the coronavirus pandemic raised the prospect of the steepest ever annual fall in oil demand.