|Bid||499.90 x 0|
|Ask||500.10 x 0|
|Day's range||493.15 - 500.94|
|52-week range||5.08 - 603.20|
|Beta (3Y monthly)||1.36|
|PE ratio (TTM)||11.42|
|Earnings date||29 Oct 2019|
|Forward dividend & yield||0.34 (6.89%)|
|1y target est||7.99|
The FTSE 100 (INDEXFTSE: UKX) may not seem to be awash with companies playing the cannabis and sustainability trends, but scratch the surface and they can be found.
London's FTSE 100 bagged gains on Monday led by oil majors and Asia-exposed banks that rose on moves by China to keep business interest rates low, while pub operator Greene King helped midcaps outshine after agreeing to be bought out. The FTSE 100 added 1%, its biggest one-day rise in more than 10 days, but a 50% surge in Greene King shares helped the FTSE 250 index outperform with a 1.5% rise.
Nigerian state oil company NNPC said on Sunday that 15 companies had won the right to swap the nation's crude oil for fuels following a tender for the deals. About 132 companies bid for the deals, Nigerian National Petroleum Corp (NNPC) said in May. The tender for the one-year contracts effective Oct. 1, dubbed direct sale, direct-purchase (DSDP), was issued in March. NNPC said the companies that won the bids were made up of consortia of 15 companies including Vitol, Trafigura , oil major BP and local downstream companies.
Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. Since the third quarter of last year, bids, offers and trades reported to pricing agency S&P Global Platts as part of its pricing process have become "significantly more homogenous with regards to the terms used," said Ciaran Roe, global director of the company's LNG division.
Natural gas production at Zohr, the largest gas field in the Mediterranean Sea, more than tripled in the first half this year to reach 11.3 billion cubic metres (bcm), Russian energy giant Rosneft said on Wednesday. The field is an important asset for Kremlin-controlled Rosneft in its global expansion strategy and natural gas production programme. Rosneft bought a 30% stake in the project from Italy's Eni in 2017.
Reliance Industries said it would launch super-fast internet in India next month, stressing that partnerships would be its path to growth as it announced a tie up with Microsoft and a stake sale in its oil unit to Saudi Aramco. The group's plans to launch fibre broadband is likely to worry rivals who are struggling to keep up with Jio, billionaire Chairman Mukesh Ambani's telco upstart, which has upended the market with its cheap data plans and become India's top mobile operator by subscribers in just three years. The tech push and the planned stake sale comes as Reliance - India's second-biggest company by market value - looks to bolster its consumer businesses and diversify from its core oil and petrochemicals operations.
India's Reliance Industries is set to sell a 20% stake in its oil to chemicals business to Saudi Aramco, helping the Indian conglomerate to cut debt and giving Aramco better access to a fast growing market. While terms of the deal are yet to be finalised, Reliance will get roughly $15 billion, including some debt adjustments for the 20% stake, P.M.S. Prasad, Executive Director of Reliance Industries said on Monday, adding the two companies aim to close the deal by March 2020. The deal will see Reliance buy up to 500,000 barrels a day of crude oil from Aramco, Prasad told media after the company's annual general meeting (AGM), noting this would more than double the volumes that Reliance currently purchases from Aramco.
Iraq's oil ministry said on Saturday that it was still in talks with U.S. energy giant ExxonMobil over a major deal to improve the country's southern oil infrastructure. A deal with Britain's BP and Italy's Eni was over the building of two seabed oil pipelines for Iraq's southern exports through the Gulf, and was not part of the $53 billion 30-year southern mega-project, the ministry said. The lack of an agreement with Exxon so far did not mean negotiations were over or that Exxon has been excluded from the project, it said in a statement.
Royal Dutch Shell (RDS.A) stock has slumped 10.8% so far in Q3. Shell’s dividend yield has risen to 6.6%, the highest among its peers.
European downstream firm Varo Energy said on Friday it had agreed to increase its stake in a major refining complex in Germany to up to 55% by buying shares from oil major BP. Swiss-based Varo currently holds 45 percent of the Bayernoil complex while BP holds 10%. Bayernoil consists of two plants - Vohburg and Neustadt - with a combined capacity of 220,000 barrels per day.
BP Midstream Partners LP is considering shipping other products besides diluent on its 135,000 barrel per day Diamondback pipeline, which helps transport diluent from the United States to Canada, Chief Executive Rip Zinsmeister said on Thursday. The diluent is used in transporting heavy Canadian crude. "The heavy oil crowd is long heavy oil, so diluents will still make sense," Zinsmeister told analysts and investors on the company’s second quarter earnings call.
(Bloomberg) -- Indonesia’s PT AKR Corporindo is aiming to expand its gasoline station joint venture with BP Plc to as many as 350 outlets by 2027 to take advantage of a flurry of toll-road building across the archipelago.PT Aneka Petroindo Raya, set up by the two companies in late 2016, opened its first station last November and currently has nine outlets. The plan is to add as many as 20 to 25 stations before the end of this year and an additional 35 in 2020, said Suresh Vembu, AKR Corporindo’s business development and JV relationship director. The government’s $70 billion highway-building program will encourage Indonesians to make more long-distance car trips, he said.“You’re adding so many new cars, you’re adding more highways, people are driving,” Vembu said an interview in Jakarta on Tuesday. “Basically, the demand for gasoline in Indonesia is one of the fastest growing in the region.”President Joko Widodo, known as Jokowi, has announced plans to triple the length of Indonesia’s toll-road network to 5,400 kilometers (3,355 miles) by 2024, although there are questions about how the program will be funded. BP and AKR Corporindo are planning their expansion even as Indonesia considers a slew of incentives aimed at boosting the numbers of electric vehicles.BP expects to grow the gasoline station network together with its partner over the coming years, a spokesman for the London-based company said.The two companies are also setting up another joint venture to provide aircraft fuel, Vembu said. That business, called PT Dirgantara Petroindo Raya, will focus on serving the eastern part of the archipelago, he said.See also: BP, Reliance to Expand Partnership to Sell Transport Fuels in IndiaBP’s Indonesian initiatives are similar to what it’s doing in India, where it’s formed a joint venture with Reliance Industries Ltd. that will take over 1,400 Reliance-owned gasoline stations as well as aviation fuel operations at more than 30 airports. Meanwhile, in China, BP is focusing more on electric vehicles via a venture with Didi Chuxing Inc. to build charging infrastructure.AKR’s shares fell 1.9% as of 10:11 a.m. in Jakarta on Thursday as the Jakarta Composite Index rose 0.5%. They’re down 8.6% since Aug. 2, heading for the worst week since March, after the company reported a drop in first-half net income late last month.The Indonesian company is also focused on expanding its industrial estate business, according to Vembu. Several foreign firms have expressed interest in relocating some operations to its Java Integrated Industrial and Port Estate in Gresik, East Java, due to the deepening U.S.-China trade war, he said.PT Freeport Indonesia, a unit of PT Indonesia Asahan Aluminium and Freeport-McMoRan Inc., will develop a smelter in the business park. Industrial estates could easily make up 15% to 20% of AKR’s net income in the next three to four years, Vembu said.“We want to make the industrial estate as our recurring income source,” he said. “Roads have been laid, ports have been constructed and the power plants are already ready.” (Updates with AKR Corporindo share move in eighth paragraph.)\--With assistance from Rakteem Katakey.To contact the reporters on this story: Tassia Sipahutar in Jakarta at email@example.com;Harry Suhartono in Jakarta at firstname.lastname@example.orgTo contact the editors responsible for this story: Ramsey Al-Rikabi at email@example.com, Andrew Janes, Thomas Kutty AbrahamFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
India is set to relax rules for setting up fuel stations after almost two decades, in a move expected to allow companies like Saudi Aramco, Total and Trafigura to gain a foothold in a sector dominated by state-run entities. The new rules - suggested by an expert panel - mirror those in developed nations like the United States and Britain, and would allow convenience stores, shopping malls and hypermarkets to sell fuels if they are eligible, said an oil ministry source. The government panel has recommended allowing marketing rights for sale of gasoil, gasoline and aviation fuel to companies with a net worth of 2.5 billion rupees.
NEW DELHI/LONDON, Aug 6 (Reuters) - Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalise on rising demand in Asia's third-biggest economy. BP will own a 49% stake in its new Indian joint venture, with the rest held by Reliance, operator of the world's biggest refining complex. In 2011 BP acquired a 30% stake from Reliance in some of its exploration blocks and formed a gas sourcing and marketing tie-up.
Azerbaijan is betting on petrochemicals investment to diversify its oil and gas-dependent economy, industry and government officals told Reuters. Plummeting global oil prices five years ago sent the former Soviet energy producer's economy into decline, devalued its currency and led to bankruptcies among its commercial banks. Construction has been completed on three new petrochemical plants in Azerbaijan over the past 12 months.
British energy group BP is deepening its ties with Indian industrial company Reliance with a new joint venture for retail service stations and aviation fuel distribution across India, BP said on Tuesday. Reliance will own 51% of the new entity. The two companies expect the deal to close in the first half of next year and to benefit from Reliance's huge Jamnagar refining complex.
London's FTSE 100 closed sharply lower on Tuesday, its sixth straight session in the red, bringing its losses to more than 5% since U.S. President Donald Trump announced more tariffs on Chinese exports, while poor results sent Rolls-Royce tumbling. The FTSE 100, which suffered its worst day this year in the last session, lost 0.7% to end the session below its 200-day moving average - seen as a technical support level - for the first time since late May.