Energy giant BP has released its trading statement for the second quarter of 2024, offering a glimpse into slowing production rates in its upstream business while static oil price offer little in the way of encouragement for investors. BP shares were 3.47% lower at the time of writing. “A teaser ahead of second-quarter results later […]

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The FTSE 100 was down marginally on Friday as the market ended the week on a tepid note, following a 5% drop over June marking the worst month for the FTSE 100 since the first shock of the Covid-19 pandemic in 2020. US markets also had a dismal June which culminated in the worst quarter […]

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The FTSE 100 closed down 0.4% to 7,014 in Friday trading, as the market continued to lose ground after a week of central bank action. UK interest rates were hiked to 1.25%, which the market had been pricing in for weeks, however the Bank’s revised inflation estimate of 11% in Q4 this year threw investors […]

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BP announced its acquisition of a 40.5% stake and operatorship of the Asian Renewable Energy Hub (AREH) green hydrogen energy project in Pilbara, Western Australia on Wednesday. The project is one of the largest renewables and green hydrogen energy hubs in the world, and is set to support the development of up to 26GW of […]

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The FTSE 100 was down 0.9% and closed at 7,532.9 on Wednesday as the price of oil fell below the $120 mark, with Brent Crude trading at $117 per barrel as OPEC signalled a possible end to its ties with Russia, sparking hopes that the organisation could start increasing production. The outcome of OPEC’s decision […]

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Shell shares were up 3.1% to 2,294.5p in early morning trading on Thursday, as the energy giant’s profits tripled on the back of surging oil prices. The escalating conflict in Ukraine sent the price of Brent crude to $110 per barrel, boosting Shell to a quarterly profit of $9.1 billion, its highest on record and […]

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BP’s balancing act between moving away from the oil industry and securing its long-term future is an area UK Investor Magazine has covered for a long time. This has included analysing the various angles from which pressure is building on BP, from investors to regulators, to divest away from fossil fuels and into clean energy. […]

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BP made an underlying profit of $2.8bn for the quarter to June BP (LON:BP) raised its dividend and committed to buying back shares after its Q2 profit surpassed expectations as oil prices rose and demand recovered. BP will give shareholders $1.4bn (£1bn) through share buybacks, while it will increase its dividend by 4% a year […]

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BP’s proposal could lead to thousands of new green energy jobs BP (LON:BP) is pledging to invest £10bn to construct an offshore wind farm in Aberdeen in a move that could bring about thousands of new jobs. Along with its partner, German energy company EnBW, the UK oil giant made a bid for a lease […]

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BP Share Price The BP share price (LON:BP) is down by 2.09% on Tuesday following a period of solid gains in April when it reached as high as 318.5p. The FTSE 100 oil giant’s upwards movement came alongside increases in the price of Brent crude oil and West Texas Intermediate. Over a longer period BP’s […]

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BP Share Price The BP share price (LON:BP) jumped over the last couple of weeks, from 292p per share on 20 April to 312p today. The sharp rise came about as the FTSE 100 oil giant promised to buy back shares after it cut its debt faster than expected. Year-to-date the BP share price has […]

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BP will begin its share buyback in Q2 BP’s (LON:BP) earnings climbed over the last quarter, as a result of significantly higher oil prices and bumper revenue from natural gas trading. Profits rose to $3.3bn on a replacement cost (RC) basis, up from a loss of $628m in Q1 of 2020 when the pandemic began, […]

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BP to release Q1 results on 27 April BP (LON:BP) announced on Tuesday that it expects to reach its $35bn net debt target in Q1 of 2021. The estimate is a result of earlier-than-expected proceeds from disposals and a “very strong quarter”, the oil company said today. At the end of 2020, BP had a […]

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BP Share Price The BP share price (LON:BP) is up 17.5% year-to-date after a challenging 2020. Over the same period the FTSE 100 index is up by 2%. While the major oil player could be set to capitalise on an economic recovery across the world, and rising oil prices, a number of factors remain at […]

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BP Share Price BP’s share price surged throughout February and into March despite a slight retreat in the last few days. BP shares are now at 313.75p per share, up by 21% over the past 30 days from 259.1p. The oil and gas sector has generally experienced an upturn, helped in part due to a […]

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BP announced a loss of $5.6bn for the year as the industry took a year-long beating from the coronavirus pandemic. As reported earlier this week, BP said the results were caused by falling energy prices, significant exploration write-offs, reduced demand and weaker refining margins.  A number of question marks remain for investors over the company. […]

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The FTSE 100 climbed on hopes for an economic recovery and a US stimulus package, with hotels outweighing a fall in BP profits. The FTSE 100 index rose by 30 points to 0.4%, in anticipation of negotiations between President Biden and US Senators for a $1.9tn (£1.4tn) Covid stimulus. Spreadex analyst Connor Campbell said “all […]

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Profits fell by 96% in final quarter of 2020 BP slumped to an overall loss of $5.69bn in 2020 as the coronavirus pandemic took its toll on the energy market. The company’s underlying replacement cost profit, a barometer for net profit/less, was at $0.1bn over the final quarter of the year. This compared to a […]

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Hitting a nine-month high, the FTSE 100 finished the week at the front of the global equities pack, beating its Eurozone and US counterparts thanks to the continued recovery of Shell (LON:RDSA) and BP (LON:BP). Oil majors saw the UK index enjoy a happy Friday, rising 0.92%, to 6,550.23 – its highest level since the […]

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Shock, the third Monday in a row where vaccine news push value stocks higher. Though underwhelming, the AstraZeneca (LON:AZN) vaccine trial results shoved long-suffering air travel, financial and commodities stocks higher, once again. Across the FTSE 100, air travel stocks led the way, with Rolls Royce soaring 7.60%, while IAG bounced around 5.50%. Meanwhile, mining […]

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Having cheered on the news of Pfizer’s (NSYE:PFE) vaccine candidate demonstrating 90% efficacy, global equities heavily priced in COVID challenges being overcome, and favoured pandemic casualties during trading on Tuesday. Leading the charge and at one point up by almost 18%, Lloyds finished up by 6.63%, up to 32.82p a share. Following close behind were […]

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BP (LON: BP) has reported an underlying profit of $86m (£66m) for the third quarter of 2020. Stronger oil prices led to a profit, beating analysts’ expectations of a $120m (£92m) loss for the three months ending 30 September. BP reported a record $6.7bn (£5.1bn) loss in the second quarter of the year. “BP’s future […]

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It’s little secret that FTSE 100 oil stocks have been absolutely battered in 2020, and today’s share price drops seemed to add icing to the rather underwhelming cake. If you’re confused about why today in particular is significant, here are a few reasons why it might be so. Number 1: Sluggish oil price recovery Yes, […]

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Shares at BP plc (LON:BP) have plunged to their lowest level since 1995, reaching a mere £2.10 on Wednesday and falling from its £5-a-share value at the start of 2020, just weeks after new CEO Bernard Looney warned of a major restructuring drive amid mounting fears about the role of the oil industry in the […]

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BP (LON: BP) has reported a record loss in its latest quarterly results. The oil giant reported a record $6.7bn (£5.1bn) loss as the Coronavirus pandemic led to a slump in global oil demand. The $6.7bn loss is compared to a $2.8bn profit for the same period a year earlier. As a result, the group […]

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With March to May being a turbulent period for shareholders, June appeared to be the month where some semblance of usual service resumed. Though, while most companies began finding their feet again, most of their share prices were significantly below where they were at the start of the year, with a return to previous levels […]

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The Royal Dutch Shell PLC (LON:RDSA) share price has slipped by 2.34% just before lunchtime on Tuesday as the company warns that the historic slump in oil prices could reduce the value of its assets by as much as $22 billion. A tumultuous few months for the oil industry look set to have a lasting […]

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BP plc (LON: BP) has announced the sale of its global petrochemicals business to London-based chemical producers INEOS. The $5 billion transaction of BP’s aromatics, acetyls and related commodities represents the “next strategic step” in reinventing BP’s portfolio. BP’s share price bounced a modest 2.57% or 7.82p to 312.42p at BST 10:41 in response to […]

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British energy company Centrica (LON:CNA) announced on Monday that it had launched British Gas X, a modern-day challenger to its British Gas flagship brand. The company said a test website for British Gas X was already up and running, and that the new service would be entirely online and designed for ‘digitally savvy’ consumers. It […]

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BP plc (LON:BP) is to slash $17.5 billion off the value of its oil and gas assets following grim projections of the impact of the coronavirus pandemic on global oil demand. Just last week, the company announced plans to cut up to 10,000 jobs by the end of the year, representing nearly 15% of its […]

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The BP share price (LON:BP) fell over 5% on Tuesday morning as the market attempted to navigate a world where oil can trade in negative territory. The front month May WTI oil contract fell as low as -$40.23 per barrel oil in futures markets overnight, the first time in history oil has traded negatively. This […]

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Black Monday offered volley upon volley of bad news for investors, with the worst dip in global equities since the financial crash, and the biggest Dow Jones dip in its century-and-a-half-long history. With Brent Crude diving by a third and the Dow shedding 2,000 points after the open, Monday offered little in the way of […]

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Today Brent Crude was down 7% to $46.25 per barrel, a $25 price cut from the first week of 2020, and representing its lowest price since mid-2017. This came on the back of fresh talks between OPEC and Russia, on potential production cuts, with Russia apparently refusing to agree to a deal. The effect this […]

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Premier Oil (LON:PMO) have seen their shares in red, despite the firm giving a relatively steady update on Thursday. Premier Oil told the market that it had seen a year of progress, however its’ profit levels had been bruised due to higher charges. The CEO noted: “2019 was another year of strong operational and financial […]

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BP Plc (LON:BP) have said that they will cut links with three US trade associations, including the US’s main refining lobby. The decision to cut ties today came about as the firm faced disagreements over their climate related policies and actives. BP have made an extra effort to become a more environmentally friendly company, and […]

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Kosmos Energy (LON:KOS) have agreed to sell liquefied natural gas to BP Gas Marketing Ltd, which is a subsidiary of BP PLC (LON:BP). The firm said that the liquefied natural gas will be sourced from phase one of the Greater Tortue Ahmeyim project, offshore Mauritania. The agreement will mean that BP takes 3.45 million tonnes […]

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BP Plc (LON:BP) have announced their intentions to become net carbon zero by 2050 in an update on Wednesday. “The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero. We all want energy that is reliable and affordable, but that is no longer enough. It must also […]

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BP plc (LON:BP) shares have jumped on Tuesday morning as the firm gave an update on their fourth quarter operations. The oil and gas major reported a fall in fourth quarter and annual earnings, as both oil and gas prices remained volatile in the quarterly period. Notably, this would be the last time Chief Executive […]

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It was a somewhat flat day for British performance indices. That isn’t to say that nothing happened, rather that performance indicators failed to deliver any kind of groundbreaking revelations one way or the other. BP posted a dismal set of results for the last quarter, which saw the day’s trading get off to a lulling […]

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BP (LON:BP) has just bought Chargemaster Plc for 130 million GBP, in an effort to diversify its operations and accommodate the increasing demand for electric vehicles. The deal comes in the wake of BP announcing a five year contract with analysis engineering firm AS Mosley, and after President Trump eased tensions by calling off the […]

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BP’s deal making sector has been busy putting pen to paper signing up new deals with an investment of almost US$1bn in a partnership with Kosmos Energy and a US$2.4bn agreement over the weekend confirming BP will take a 10 per cent stake in Abu Dhabi’s oilfields. The deals see BP moving on the front […]

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