The temporary suspension of production at Deepwater Gunashli, one of the seven Azeri-Chirag-Gunashli (ACG) platforms, commenced on Apr 25 for scheduled maintenance, inspection, and project work. However, BP's efficient execution enabled them to conclude the planned maintenance activities ahead of schedule. The production and export systems of the platform were restarted on May 7, as the works were completed in less than the initially projected 15 days. Currently, production is being ramped up to pre-mainten ...

BP plc (BP) recently reported weak first-quarter 2024 earnings. The leading integrated energy player’s earnings per share were 97 cents, while revenues came in at $49.9 billion.Keep an Eye on the StockSince the earnings announcement on May 7, the stock has declined marginally. Despite the weak results, the British energy giant expects its reported and underlying upstream production to be marginally higher this year. Also, there are key oil and gas projects that are already operational or slated for completi ...

Oil prices continue to be volatile and hard to predict, which is why finding undervalued energy stocks can be hard, too. After rising steadily for most of March and April, crude prices just suffered their biggest weekly decline in three months as tensions in the Middle East ratchet down and global demand softens. Brent crude oil, the international standard, is currently trading at $83.78 per barrel, while West Texas Intermediate crude oil, the American benchmark, has fallen below $80 a barrel.The current de ...

BP plc (BP) , a global leader in the energy sector, is set to embark on a significant expansion of its electric vehicle (“EV”) charging business in the United States. In a recent Bloomberg interview, Sujay Sharma, CEO of BP pulse Americas, revealed the company's ambitious plans to acquire Tesla (TSLA) Supercharger sites and ramp up its network of charging points.Acquisition StrategySharma disclosed that BP is actively pursuing the acquisition of Tesla Supercharger sites across the United States. This move c ...

As we enter the tail end of first-quarter earnings season, clear winners and losers have emerged. Many well-known blue-chip companies that were expected to knock the cover off the ball with their prints ended up striking out. In turn, this badly hurting their share prices in the process and drawing the ire of shareholders. The poor results come at a difficult time. The stock market is seeking direction and adjusting to the reality of higher for longer interest rates and the potential for zero rate cuts this ...

BP plc (BP) reported first-quarter 2024 adjusted earnings of 97 cents per American Depositary Share on a replacement-cost basis, excluding non-operating items. The bottom line missed the Zacks Consensus Estimate of $1.03 and declined from the $1.66 reported a year ago.Total quarterly revenues of $50 billion lagged the Zacks Consensus Estimate of $61.8 billion and declined from the $57 billion reported in the year-ago quarter.Lower realizations of commodity prices primarily led to weak quarterly results.Oper ...

BP p.l.c. (NYSE:BP) Q1 2024 Earnings Conference Call May 7, 2024 8:00 AM ET Company Participants Craig Marshall - Group Head, IR Murray Auchincloss - CEO & Director Katherine Thomson - CFO, SVP, Finance for Production & Operations & Director Conference Call Participants Josh Stone - UBS Biraj Borkhataria - RBC Capital Markets Paul Cheng - Scotiabank Ryan Todd - Piper Sandler Christopher Kuplent - Bank of America Merrill Lynch Lydia Rainforth - Barclays Bank Michele Della Vigna - Goldman Sachs Martijn Rats - ...

Note 4. Analysis of replacement cost profit (loss) before interest and tax and reconciliation to profit (loss) before taxation $ million 2024 2023 2023 gas & low carbon energy 1,036 2,169 7,347 | --- | --- | --- | --- | |------------------------------------------------------------------------------------------|-------|---------|--------| | | | | | | oil production & operations | 3,060 | 1,879 | 3,317 | | customers & products | 988 | (554) | 2,680 | | other businesses & corporate | (300) | (16) | (90) | | | ...

Investors are closely monitoring BP plc (BP) as it prepares to announce first-quarter 2024 earnings on May 7, before the opening bell. Some investors are considering whether to buy shares of this large integrated energy company before its earnings release or wait for a more favorable entry opportunity.Promising Price TrendsBP has proven to be rewarding since the beginning of 2024, gaining 9.3% year to date, exceeding the 8.7% rise of the broader Zacks Oil - Energy sector. The new management’s strong emphasi ...

RobsonPL/iStock Editorial via Getty Images Finding investments with solid growth and strong cash is hard. While some companies in sectors such as tobacco and the utility industry have stable revenues, finding corporations that can offer investors consistent capital gains and impressive dividends is hard. One sector that has offered investors very strong returns and solid income since the Pandemic hit in late 2019 is the oil and gas industry. Demand for energy was strong coming out of the pandemic, and a ...