Company
LON:BP
BP is one of the world's largest oil and gas companies with operations in more than 100 countries across six continents. The company's main businesses are exploration and production of oil and gas; refining, manufacturing and marketing of oil products and petrochemicals; transportation and marketing of natural gas; and BP Alternative Energy, a growing business in renewable and low-carbon power and next generation energy technologies.
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A 5.25 cents per share quarterly dividend is set to be the new normal for BP which aims to transition into an integrated energy company.
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The UK index of premier shares closed up around three points, or 0.05% at 6,036
Among the other announcements, numbers from Diageo and easyJet will also be of interest
It is the oil giant's second major sales to INEOS, the vehicle of reportedly Britain’s richest man, Jim Ratcliffe
The Swiss bank is now forecasting a dividend cut, potentially in the second quarter.
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After the recovery from the 23rd March lows (supreme irony: the very date that many countries went into social and economic “lockdown”) and the -6% mini-crash last Thursday, we see stock markets as being in a redistribution phase as “shareh
So far, the blue-chip index has seen around 42% of the total payouts for the 2020 calendar year cut or cancelled amid pandemic disruption
Economies will be "rebuilt better" in the wake of the pandemic, according to BP
In April, the firm reported a record US$4bn quarterly loss but maintained the dividend at 10.5 cents per share
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Investors will also be treated to trading updates from St James's Place Capital and Provident Financial as well as BP's AGM
In 2019, the US$6.5bn paid by BP represented some 8.6% of the FTSE 100’s dividend returns.
The oil major retained its quarterly dividend in the face of starkly grim trading, not least a US$3.7bn drop in the value of crude held in storage
“The revised agreement is expected to maintain the majority of the value of the transaction,” BP said.
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Britain's blue-chip benchmark finished on Monday up over 94 points, or 1.64%, at 5,846
The price target drops to 360p per share, but its still based on US$60 per barrel Brent crude assumptions
Demand is weak and the economic impacts of something like coronavirus are unprecedented.
Capex for 2020 is expected at US$12bn and it plans to cut US$2.5bn of costs.
The oil major will reduce carbon and methane intensity as well as increasing the proportion of investment into non-oil and gas businesses “over time”
Tufan Erginbilgic is the latest BP executive departing amid a broader management reorganisation.
Bernard Looney takes over from Bob Dudley in the coming days, and, it is expected he may accelerate BP's "energy transition" efforts.
BP paid out another US$2.4bn in Gulf of Mexico oil spill payments in 2019, but it expects the figure for 2020 will be beneath US$1bn
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The UK's premier index of shares closed up over 113 points at 7,439. The FTSE 250 gained over 279 points at 21,439
Tuesday also is due to see final results from Micro Focus International accompanied by an update on its strategic review
New CFO Murray Auchincloss has worked alongside incoming group CEO Brian Looney for several years.
“We think that the stock will be in a holding pattern through H1 ahead of the cash proceeds that BP will receive for disposals and the new strategy outlook from the incoming CEO," Berenberg's analyst said.
The killing last week of Qassem Suleimani, one of Iran's senior military commanders, has raised concerns that the Middle East's oil supply could be at risk
“What’s fair value for a company that produces one in every eight global oil barrels, is instrumental in supporting oil prices and owns the world’s fourth largest integrated downstream system?” analysts wondered
The oil giant's finance chief told analysts a day earlier that this year was unlikely to see a dividend hike
Underlying profit in the quarter dropped 39% to US$2.3bn as the exploration, development and production business saw profits plunge 47%
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The UK index of leading shares finished 25.02 points lower at 7,306.26. The FTSE 250 fell 41.83 points to close at 20,168.33
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BP’s shares have fallen 12% drop from their year-high in March as trade war tensions and intrigues in the Iranian gulf have sent oil prices sliding
BP took petroleum out of its name quite some time ago – now it faces the task of taking some out of the business model
BP also said it expects to deliver $10bn from its divestment programme by the end of the year
Three-quarters of Extinction Rebellion protestors would buy shares in BP and Shell if the oil supermajors shifted to renewables
A look back at the main events in the oil and gas sector we reported on this week
Bernard Looney, who currently heads up BP’s oil and natural gas exploration division, will take over as CEO
American-born Dudley was appointed chief executive in the wake of the Deepwater Horizon oil spill in 2010
"We have other opportunities, both in the US and around the world, that are more closely aligned with our long-term strategy," said boss Bob Dudley
While a London listing for the trillion-dollar oil giant will bring in fat fees for the City's banks and law firms, it could leave pitfalls for investors