Key Takeaways ExxonMobil expects up to $1.9B decline in upstream earnings due to falling oil and gas prices. BP sees refining margins surge to $21.10 per barrel, adding up to $500M to downstream profits. Shell's refining margins rose to $8.90 per barrel, helping offset weaker LNG and drilling results.The upcoming earnings reports for big oil and energy companies will tell a story of two different worlds. On the one hand, we will likely see lower profits from simply drilling for oil and gas (or the ‘upstre ...

Key Takeaways Azule Energy has discovered gas in Angola's offshore Gajajeira-01 well within Block 1/14. The well revealed over 1 Tcf of gas and 100M barrels of condensate in the Lower Oligocene. Azule Energy will continue drilling to assess the full scale of the find before forming development plans.BP plc (BP) and Eni SpA’s (E) joint venture, Azule Energy, has encountered gas in an offshore block in Angola. Angola’s National Agency of Petroleum, Gas and Biofuels (“ANPG”) stated that the gas discovery was ...

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Group 1: BP's Production and Financial Outlook - BP expects higher oil and gas production for Q2 2025, surpassing previous forecasts and improving from the prior quarter [1] - The company anticipates Q2 upstream production to exceed both prior guidance and Q1 output levels [8] - BP projects an increase in average refining margins for Q2 to $21.1 per barrel, up from $15.2 in the previous quarter, expecting a gain of $300-$500 million in its customers and products segment [4][8] Group 2: Price Impact and Earnings Forecast - Lower crude oil prices are expected to negatively impact BP's Q2 earnings by approximately $800 million, with average crude prices at $67.88 per barrel compared to $75.73 in the previous quarter [2][3][8] - U.S. gas prices averaged $3.44 per million British thermal units in Q2, down from $3.65 [3] Group 3: Competitor Performance - Rival Shell plc expects quarterly earnings to be negatively impacted by weaker trading in its integrated gas division and losses in chemicals and products operations [5] - Shell's integrated gas division has lowered its production guidance for Q2, indicating a decline in performance compared to earlier forecasts [5] Group 4: Stock Performance - BP shares have gained 17.1% over the past three months, outperforming the industry's growth of 12.2% [7]

Market Overview - US stock index futures are all down, with Dow futures down 0.62%, S&P 500 futures down 0.59%, and Nasdaq futures down 0.51% [1] - European indices also show declines, with Germany's DAX down 0.91%, UK's FTSE 100 down 0.45%, France's CAC40 down 0.85%, and the Euro Stoxx 50 down 0.95% [2][3] Oil Market - WTI crude oil increased by 1.11% to $67.31 per barrel, while Brent crude oil rose by 0.96% to $69.30 per barrel [3][4] Economic Insights - Thrasher Analytics reports that the volume of declining stocks has reached a low of 42% of total trading volume, indicating potential overconfidence in the market [5] - The upcoming earnings season is expected to be a significant test for the market [5] Federal Reserve Outlook - San Francisco Fed President Mary Daly suggests that two rate cuts this year are still possible, with manageable impacts from tariffs on inflation [5] Liquidity Concerns - The potential rebuilding of the Treasury General Account (TGA) could lead to a liquidity loss of approximately $510 billion by the end of September, impacting market liquidity [5] Oil Demand Forecast - OPEC predicts that global oil demand will continue to rise, projecting an increase from 103.7 million barrels per day last year to 113.3 million barrels per day by 2030, and nearing 123 million barrels per day by 2050 [6] Cryptocurrency Market - Bitcoin has reached a new high of $118,000, driven by strong institutional demand and favorable policies from the Trump administration [7] Company Developments - Apple plans to launch a series of new products in early 2026, including a new low-end iPhone and upgraded Mac computers, aiming to revitalize growth [8] - Tesla has applied to test its Robotaxi service in Arizona, indicating a push to catch up with Waymo in the autonomous vehicle market [9] - BP expects an increase in oil production and strong trading performance in Q2, signaling a positive outlook for the company [10] - SAP's CEO is optimistic about revenue growth driven by customer migration to cloud services, with a focus on deep analytics and data services [11]

美国同行埃克森美孚公司预计，油价和天然气价格的下跌将使该公司季度收益减少约 15 亿美元。埃克 森表示，预计炼油业务的利润会有一定程度的回升。 英国石油净债务在第一季度增加了约 40 亿美元，达到近 270 亿美元。预计在第二季度，这一数字将"小 幅"下降。贸易、炼油和上游产业的积极迹象可能会因各行业(具体未指明)约 5 亿至 15 亿美元的资产减 值而受到影响。 智通财经APP获悉，英国石油公司(BP.US)表示，预计其第二季度的石油产量将有所增长，其石油交易 业务也将取得良好业绩，这将为这家努力扭转多年业绩不佳局面的能源巨头带来提振。该公司周五在一 份声明中表示，截至 6 月的三个月的产量预计将高于第一季度。这比此前的预期有所上升，此前的预期 是产量将基本持平。今年头三个月产量有所下降。该公司将于 8 月 5 日公布二季度盈利情况。其发布的 声明语气比本周其主要竞争对手壳牌(SHEL.US)以及美国同行埃克森美孚(XOM.US)的最新公告更为乐 观。 对于英国石油公司而言，开展业务活动至关重要，因为该公司正试图重新回归油气业务的核心领域。然 而，这一举措是在油价受到美国总统特朗普的贸易战、欧佩克+政策的调 ...

BP says it expects to report rising production and a strong result from its oil trading business for the second quarter https://t.co/7PF5NKQIdH ...

Core Viewpoint - BP plc is divesting its mobility and convenience, as well as bp pulse businesses in the Netherlands to Catom as part of a $20 billion divestment program aimed at reducing debt and refocusing on fossil fuels [1][2][9]. Group 1: Divestment Details - The divestment is expected to be completed by the end of 2025 and includes around 300 retail sites and 15 active bp pulse EV charging hubs, along with eight additional hubs under development [2][3][9]. - Catom, a rapidly expanding player in the fuel and lubricant distribution sector, will expand its OK retail network to over 400 sites in the Netherlands with this acquisition [4]. Group 2: Strategic Implications - This transaction is part of BP's ongoing portfolio reshaping, which has included divestments in U.S. midstream assets and Canadian oil sands, with a target of generating $3-$4 billion in asset sales by 2025 [5][6]. - The deal reflects a broader trend of consolidation in Europe's downstream sector, where smaller firms like Catom are leveraging scale and adaptability to grow in both fossil fuel and EV infrastructure markets [7]. Group 3: Financial Performance - BP's stock has increased by 17.6% over the past three months, outperforming the industry average growth of 13% [8].

Core Viewpoint - BP is focusing on the recovery of its oil and gas business as a central part of its revitalization plan, led by Gordon Birrell, amidst skepticism from investors and volatile oil prices [1][2] Group 1: Operational Reliability - The company is implementing a comprehensive reform to track and manage operational issues, highlighted by the installation of a performance dashboard focusing on safety, reliability, competitiveness, and durability [3] - The Glen Lyon floating production facility, crucial for extracting oil from several fields, experienced mechanical failures, with actual uptime only at 78% last year [3] - Proactive engineering solutions are being emphasized, with a recent incident leading to a 95% uptime for equipment this year [4] Group 2: Use of Technology - BP's upstream division is leveraging artificial intelligence to optimize oil field operations, particularly in the U.S. and Caribbean markets [5] - BPX Energy has reduced its cost per barrel by $1 over the past year and aims to increase production by 60% to 650,000 barrels of oil equivalent per day by 2030 [6] - In Trinidad and Tobago, the integration of seismic analysis tools with machine learning has opened up new drilling targets, enhancing the operational lifespan of BP's gas business [6] Group 3: Cost Control - The company is adopting a global unified model to control spending, particularly on contractors, and is consolidating engineering and technical capabilities into three centers: the U.S., the U.K., and India [7] - A partnership with Palantir Technologies is enhancing predictive maintenance efforts, allowing the company to identify potential equipment issues through the analysis of unstructured data [7]

BP has put an oil and gas revival at the heart of its turnaround plan, and upstream chief Gordon Birrell is leading the push to make the business a more reliable driver of profits https://t.co/DjO8WwdNSn ...