The energy market often sees companies shedding assets worth billions of dollars. This is basically a strategic move to optimize portfolios, improve financial performance and align with long-term business objectives. One of the key motives for divesting non-core assets is to lower the debt burden. Proceeds from asset sales are often used to reduce debt levels, thereby improving financial flexibility and strengthening the balance sheet. Companies typically employ this strategy after major acquisitions or dur ...

BP plc (BP) ), the UK-headquartered energy giant, and Trinidad and Tobago's state energy firm NGC have obtained a two-year license from the U.S. Treasury Department, per a Reuters report. This license will allow them to negotiate and develop the Cocuina-Manakin gas fields in partnership with Venezuela, Trinidad's Energy minister Stuart Young announced on Wednesday. The new license has enabled BP and NGC to embark on a project involving an offshore reservoir containing approximately 1 trillion cubic feet (tc ...

BP's robust financial results in the first quarter of 2024 provide a strong foundation for investment consideration. The Zacks Rank #3 (Hold) company reported an underlying replacement cost profit of $2.7 billion, even amid challenging market conditions characterized by lower oil and gas realizations, and the impacts of refinery outages. BP shares have gained 8.3% in a year. A share buyback, also known as a stock repurchase, occurs when a company buys back its own shares from the marketplace. This practice ...

BP plc (BP) has put on hold its negotiations with Venezuela regarding the development of the Manakin- Cocuina gas field, which straddles the maritime border between Venezuela, and Trinidad and Tobago, per a Reuters report. The decision follows the expiration of a crucial U.S. license in April 2024, which previously permitted some level of engagement with the Venezuela government under sanctions. The Manakin-Cocuina field, boasting an estimated reserve of 1 trillion cubic feet, has been a focal point of disc ...

The return of Keith Gill (aka Roaring Kitty), a prominent figure in the meme stocks saga, may have sparked a brief revival of the investing trend last week. However, the latest latest meme wave has come and gone. And while some of the most popular meme stocks may be pulling back, there are a few value meme stocks to buy. Meme stocks may be best known for making big moves driven by speculative frenzy rather than fundamentals. But that's not to say that every stock in this category is overvalued and/or has po ...

The ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another company. The ex, Tyler Loudon, also was sentenced to one year of supervised release after his prison term and fined $10,000 by U.S. District Court Judge Sim Lake in Houston on Monday. Loudon's lawyer, Peter Zeidenberg, asked Lake to sentence him to one year of home confinement f ...

Amoco Ultimate® with Invigorate® can take you up to 300 miles farther yearly, compared to regular fuel in top-selling sedans and car SUVs. bp's "300 Miles Farther" campaign is an unmatched claim that enables drivers to cover more distance between fill-ups with confidence. CHICAGO, May 20, 2024 /PRNewswire/ -- bp (NYSE: BP) continues to push the boundaries of driving range thanks to the findings from new research, revealing that drivers can go up to 300 miles farther each year using Amoco Ultimate® with Invi ...

These energy companies are investing heavily in building renewable natural gas platforms. Landfills are major greenhouse gas emitters. They're the third-largest source of U.S. greenhouse gas emissions, accounting for 14.4% of the total. Landfills produce carbon dioxide and methane gas. Methane is the more dangerous contributor to global warming. It's 28 times more effective at trapping heat in the atmosphere than carbon dioxide. While methane gas is harmful to the environment when emitted, it's much less da ...

BP plc (BP) has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days. The Zacks Consensus Estimate for the Zacks Rank #3 (Hold) company's 2024 and 2025 earnings is pegged at $4.78 and $5.44 per share, respectively. What's Favoring the Stock? BP's commitment to shareholder returns is evident from its aggressive buyback program and stable dividends. In the first quarter of 2024 alone, BP announced a $1.75-billion share buyback and maintained a dividend of 7.270 cents per share. T ...

Zacks Rank & Key Picks BP currently carries a Zack Rank #3 (Hold). BP plc's (BP) unit, BP Ventures, established over 12 years ago to access disruptive technologies and innovative business models in the renewable energy sector, has consistently aimed to deliver strategic value for BP. In line with this objective, BP Ventures has co-led a $111.3 million Series B investment round in Australian electrolyzer manufacturer Hysata alongside Templewater. Both BP Ventures and Templewater invested $10 million in the p ...