Core Insights - Petrobras, Brazil's state-run oil company, has signed a deal to acquire 49.99% of Lightsource bp's subsidiaries in Brazil [1] Company Summary - Petrobras is expanding its portfolio by acquiring a significant stake in Lightsource bp's subsidiaries, indicating a strategic move towards renewable energy [1] - The acquisition reflects Petrobras's commitment to diversifying its energy sources and investing in sustainable projects [1] Industry Summary - The deal highlights the growing trend of traditional oil companies investing in renewable energy sectors, aligning with global shifts towards sustainability [1] - This acquisition may enhance competition in the renewable energy market in Brazil, as more players enter the space [1]

Earnings Reports - BP p.l.c. reported third-quarter adjusted earnings of 85 cents per American depositary share, exceeding the consensus estimate of 75 cents. However, total revenue increased to $48.42 billion from $47.25 billion year-over-year, falling short of analyst projections of $51.38 billion [1] - Perpetua Resources Corp. reported third-quarter losses of 24 cents per share, which missed the analyst consensus estimate of losses of 3 cents per share [3] Mergers and Acquisitions - Cencora, Inc. agreed to acquire the majority stake in OneOncology from TPG and other shareholders for approximately $3.6 billion, which includes retiring existing corporate debt of $1.3 billion, totaling around $5 billion [2] Stock Performance - Cencora shares increased by 1.3% to settle at $350.32 [4] - BP shares decreased by 0.03% to close at $35.25 [4] - Perpetua Resources shares fell by 6.9% to close at $26.84 [4]

On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended selling BP p.l.c. (NYSE:BP) .On the earnings front, BP, on Nov. 4, posted third-quarter adjusted earnings of 85 cents per American depositary share, topping the consensus estimate of 75 cents. Total revenue rose to $48.42 billion from $47.25 billion in the same quarter last year, falling short of analyst projections of $51.38 billion.Cramer said, although he likes Cencora, Inc. (NYSE:COR) a lot, Cardinal Health, Inc. (NYSE:CAH) has “got them all ...

Shell's chief of mergers Greg Gut has left the firm after the CEO Wael Sawan and his top lieutenant block an internal proposal to buy rival oil and gas major BP this year, the Financial Times reported on Tuesday. ...

据英国金融时报，因首席执行官否决对英国石油公司(BP)的收购要约，壳牌并购业务主管离职。 本文源自：金融界AI电报 ...

此次扩建采用两口水下回接井连接至现有亚特兰蒂斯平台。BP表示，提前投产得益于使用了现有的水 下库存设备、更高效的钻完井作业以及简化的海上施工计划。 该项目是BP为实现在墨西哥湾战略目标而推进的一系列项目之一。公司的长期目标包括：到2030年将 美国产量提升至约每日100万桶油当量，并在本年代末将墨西哥湾的产能提高至每日40万桶油当量以 上。今年8月，BP已启动了Argos平台西南延伸项目。此外，公司计划于2027年交付亚特兰蒂斯主要设 施扩建，以利用现有基础设施进一步释放产量。 中化新网讯 近日，英国石油公司(BP)宣布，其位于美国墨西哥湾的亚特兰蒂斯油田一号钻探中心扩建 项目已提前约两个月投产。该项目是BP在2025年启动的第七个重大上游项目，预计将为该油田带来约 每日1.5万桶油当量的峰值产量。 ...

Core Insights - Hedge funds and trading companies are increasingly entering the physical commodities market, seeking new revenue sources despite lacking the decades of experience and information that established firms like Trafigura and Vitol possess [1][2] - The entry of these funds into the physical commodities market allows them to gain information advantages and increase their exposure to global price fluctuations [1][4] Group 1: Market Dynamics - Hedge funds such as Balyasny, Jain Global, and Qube are expanding their operations into the physical commodities market, including natural gas pipeline transportation rights and oil storage leasing [1] - The volatility in natural gas prices in 2022 led to significant profits for top traders, inspiring hedge funds to enter the market [2] - The performance of hedge funds and trading companies has been relatively flat in 2023 compared to 2022 due to narrower price fluctuations in oil and gas commodities [3] Group 2: Strategic Moves - Qube has entered the European physical power market through its affiliate Volta, which has applied to join NEPOOL to assist in setting market rules [2] - Citadel has made several acquisitions to bolster its trading business, including a $1.2 billion purchase of Paloma Natural Gas and the acquisition of FlexPower, which is involved in grid-scale battery project development [2] - Hedge funds are leveraging advanced analytics to predict electricity demand peaks, particularly in the physical power sector, which is seen as a lucrative opportunity [4] Group 3: Risks and Challenges - The business model of physical trading requires hedge funds to take on unknown risks outside their traditional expertise, as evidenced by the collapse of Amaranth in the mid-2000s due to poor investment decisions in commodities [5] - There are concerns that hedge funds may struggle to compete with large commodity trading firms and oil companies that have substantial capital and control over the entire supply chain [5]

This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. ISO New England opposes BP Energy Retail Co.’s effort to recoup nearly $6 million in excess funds it paid due to faulty meter data from a third-party provider, the grid operator said in a Friday filing at the Federal Energy Regulatory Commission. While ISO-NE is “sympathetic” to the issues the retail power provider is facing with NSTAR Electric, which provides BP’s ...

Core Insights - BP plc has commenced production at the Atlantis Drill Center 1 expansion project in the Gulf of America, achieving this milestone two months ahead of schedule, with an expected peak addition of nearly 15,000 barrels of oil equivalent per day (Boe/d) to the Atlantis platform [1][8] Expansion Project Details - The expansion involves adding two new wells connected to an existing subsea drill center, enhancing the reach of the Atlantis field [2] - The Atlantis field, discovered in 1998, has a gross production capacity of up to 200,000 barrels of oil per day, with first oil from the project achieved earlier than planned by optimizing existing subsea infrastructure and drilling operations [3] Long-Term Production Goals - The Atlantis Drill Center 1 supports BP's goal to increase U.S. upstream production to approximately 1 million Boe/d by 2030, marking the fifth upstream project delivered earlier than planned in 2025 [4][8] - BP plans to advance several new projects in the Gulf of America by 2030, aiming to grow production capacity from the U.S. offshore region to over 400,000 Boe/d [5] Strategic Focus on U.S. Offshore Production - BP emphasizes its ability to enhance production from the U.S. offshore region by optimizing existing infrastructure, asserting that America will remain central to delivering secure and reliable energy globally [6]

Core Insights - BP has commenced production at the Atlantis Drill Center 1 expansion project in the Gulf of Mexico, two months ahead of schedule, expected to add approximately 15,000 barrels of oil equivalent per day (boepd) to the Atlantis platform at gross peak annualized average production [1][2] - This expansion is BP's seventh major project to start operations in 2023, with five of these projects beginning earlier than planned [2] - The project aims to support BP's goal of increasing US production to around one million boepd by 2030, demonstrating the efficiency and dedication of its project teams [3][4] Production Capacity and Future Plans - The Atlantis field, discovered in 1998, has a gross production capacity of up to 200,000 barrels of oil per day, and the expansion adds two new wells to the existing subsea hub [2][4] - BP plans to increase its production capacity to over 400,000 boepd from the US offshore region by the end of the decade, with further expansions planned, including the Atlantis Major Facility Expansion in 2027 [5] - The early delivery of the Atlantis Drill Center 1 expansion is attributed to existing subsea inventory, improved drilling techniques, and streamlined execution planning [4] Strategic Importance - The expansion at Atlantis underscores BP's commitment to maximizing production from existing platforms in the Gulf of Mexico, enhancing US offshore energy production safely and efficiently [6] - BP emphasizes the critical role of the Gulf of Mexico in delivering secure and reliable energy, reinforcing its investment strategy in the region [6]