BP plc (BP) and the governments of Venezuela and Trinidad and Tobago have entered discussions aimed at the development of a shared offshore gas field situated in the Caribbean, per a Reuters report. This collaboration marks a significant step toward bolstering natural gas production in the region.BP's interest in expanding its natural gas output in Trinidad aims to support the operations of the local Atlantic LNG export facility. Over the past five years, the company’s gas production has experienced a notab ...

BP (BP) closed at $37.49 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.Shares of the oil and gas company witnessed a gain of 5.28% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 6.72% and outperforming the S&P 500's gain of 3.27%.Market participants will be closely following the financ ...

BP plc (BP) is a leading integrated energy company and is likely to see earnings growth of almost 4% this year.What's Favoring the Stock?West Texas Intermediate crude price has touched $80 per barrel, which is highly favorable for BP’s exploration and production operations. The energy major has a vast pipeline of key upstream projects that are either in operation or yet to start activities this year or beyond.  BP is also leading the energy transition race. The company is planning to become a net-zero emiss ...

The petrol station forecourt for BP, one of the world's largest oil and gas companies.Getty ImagesOn Wednesday, BP president for Trinidad and Tobago, Sir David Campbell met with Trinidadian energy minister Stuart Young and Venezuelan oil minister Rafael Tellechea.The British oil and gas “supermajor” is exploring opportunities in the cross-border region, as it would be trying to follow in the footsteps of Shell to extract natural gas mostly from Venezuelan waters while using Trinidad’s existing LNG export in ...

BP plc (BP) and the Abu Dhabi National Oil Company (“ADNOC”) have decided to halt their $2 billion bid to acquire a 50% stake in Israeli gas field operator NewMed Energy. The move was a result of the Israeli company citing “uncertainty created by the external environment” as the reason behind the suspension, according to a statement released on Wednesday.NewMed holds the largest stake in the Leviathan offshore field, a significant gas reservoir operated by Chevron Corporation (CVX) , which plays a crucial r ...

BP PLC (LSE:BP.) appears confident in hitting pre-tax earnings of between US$46 billion and US$49 billion by 2025, UBS analysts have said following recent meetings with the oil giant. “This confidence comes from the high grading of its upstream portfolio through the ramp-up of higher-margin projects, increased presence in the liquified natural gas and power trading markets and integration of acquisitions already made,” a Thursday note said. Production capacity for some 100,000 barrels of oil equivalent per ...

BP plc’s (BP) chief executive Bernard Looney faced a significant blow to his total compensation in 2023, as revealed in the company's annual report. Looney, who resigned abruptly in September 2023, incurred a £1.8 million reduction in his compensation due to the penalties levied by the London-based oil and gas giant.BP attributed the financial setback to Looney's failure to disclose his relationship with colleagues to the company's board, deeming his actions as serious misconduct. The board's decision to di ...

A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the Israeli northern coastal beach of Nasholim, on August 29, 2022.DUBAI, United Arab Emirates — Plans for a 50% stake purchase by energy major BP and Abu Dhabi National Oil Company (Adnoc) in Israeli gas producer NewMed are on hold because of regional turbulence, NewMed said Wednesday.The three companies "have agreed, due to the uncertainty created by the external environment, to suspend discussions in relat ...

NEW YORK, March 11, 2024 /PRNewswire/ -- BP p.l.c. ("BP") (NYSE: BP) (LSE: BP) today announced the early tender results for the previously announced cash tender offer by its wholly-owned subsidiary BP Capital Markets p.l.c. (the "Offeror") to purchase for cash any validly tendered (and not validly withdrawn) and accepted Notes up to an aggregate principal amount of $1,300,000,000 (the "Offer Cap") of Notes issued by the Offeror (the "Tender Offer"). The Tender Offer is being made upon the terms and subject ...

Economies across the world are gradually transitioning to cleaner energy sources. There has been a steady increase in pressure on energy companies to act on climate change on multiple fronts. Most analysts believe that although renewable energy will meet future energy needs, it will not completely wipe out oil and natural gas demand. Demand for fossil fuels will also grow but at a slower pace.The U.S. Energy Information Administration, in its Annual Energy Outlook 2023, stated that through 2050, renewables ...