Core Insights - BP forecasts that global oil demand will continue to grow until 2030, delaying the peak demand prediction from 2025 to 2030 due to slower improvements in energy efficiency [1] Group 1: Demand Projections - According to BP's latest annual report, oil demand is expected to reach 103.4 million barrels per day by 2030 and decline to 83 million barrels per day by 2050 under the current trajectory scenario [1] - The previous year's report anticipated peak oil demand at 102 million barrels per day in 2025 [1] - If energy efficiency improvements remain slow, oil demand could rise to approximately 106 million barrels per day by 2035 [1] Group 2: Scenarios - BP's report includes two scenarios: "business as usual," which considers existing policies and commitments, and a "below 2°C" scenario that aims to limit global temperature rise to below 2°C as per the Paris Agreement [1] - In the "below 2°C" scenario, oil demand is projected to peak at around 102.2 million barrels per day in 2025 and drop to 33.8 million barrels per day by 2050 [1]

bp (NYSE: BP) has reached a final investment decision on the Tiber-Guadalupe project, a new 100%-owned deepwater oil hub in the US Gulf of America. The $5 billion development will feature a floating production platform with capacity for 80,000 barrels of oil per day, drawing from six wells in the Tiber field and two tiebacks from Guadalupe. Production is targeted to begin in 2030. The project underscores the growing importance of the Gulf of America within bp’s upstream portfolio. Tiber-Guadalupe will be ...

Market Performance - Market indexes experienced gains, with the Dow up +68 points, S&P 500 gaining +17 points, and Nasdaq increasing +107 points, while the Russell 2000 rose +2 points [2] - The market was influenced by a government shutdown threat and OPEC+'s decision to raise oil production by 137K barrels per day, leading to a -3.8% drop in WTI prices and a -2.5% decline in Exxon Mobil and BP stocks [1] Housing Market - Pending Home Sales rose by +4.0% in August, surpassing expectations and reversing a previous downward trend, aided by slightly easing mortgage rates [3] - Newly-built homes also saw an increase, with homebuilder stocks like Lennar, Pulte Home, and KB Home rising more than +1% due to pent-up demand [4] Cannabis Industry - The Trump administration is considering reclassifying cannabis from Schedule I to Schedule III, which could have significant implications for the industry, resulting in a +60% increase in Tilray's stock price [5] Economic Data Expectations - Upcoming economic data includes Case-Shiller Home Prices, Chicago Business Barometer, and Consumer Confidence, with expectations for slight increases and a narrowing in Consumer Confidence to 95.8 [6] - The Job Openings and Labor Turnover Survey (JOLTS) is expected to show a decrease in job openings to 7.1 million, the lowest since September 2024 [7] Company Earnings - Nike is set to report fiscal Q1 earnings, with expectations of a -60% year-over-year earnings decline and -4.95% revenue drop, despite having outperformed earnings expectations for eight consecutive quarters [8][9]

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

European oil and gas majors BP and TotalEnergies on Monday deepened their commitments to the United States, with BP approving a $5 billion offshore oil field and TotalEnergies buying into an onshore g... ...

智通财经APP获悉，英国石油(BP.US)正在推进一项耗资 50 亿美元的美国墨西哥湾海上钻探项目。该公 司已就Tiber-Guadalupe项目做出了最终投资决定，批准了其第二个新的生产平台，该平台的日原油产量 可达 8 万桶。该项目包括Tiber油田的六口油井以及从Guadalupe油田延伸出的两口连接井。 Tiber浮式生产平台在设计上约 85%基于Kaskida的设计，计划于 2030 年开始投产。其开发成本预计比 Kaskida低约每桶 3 美元，得益于设计上的协同效应。 英国石油正在墨西哥湾推进新的深水项目Tiber-Guadalupe和Kaskida，并将它们与现有的五个平台一起 定位为公司的主要增长动力。预计到 2030 年，这些资产将使该公司的美国海上石油产量能力提升至每 天超过 40 万桶油当量。 Tiber和Guadalupe油田预计在初始阶段可开采的石油资源量约为 3.5 亿桶油当量。未来阶段可能会进一 步钻探更多油井，具体事宜需视后续评估结果而定。 ...

Core Viewpoint - BP Plc has approved a $5 billion oil and gas project in the Gulf of America, emphasizing its commitment to offshore growth and energy security for the future [1][3]. Group 1: Project Details - The Tiber-Guadalupe development is set to begin production in 2030, with a capacity of 80,000 barrels of crude oil per day [1]. - This project will be BP's seventh operated hub in the Gulf and combines six wells from the Tiber field with two tiebacks from the Guadalupe field [2]. - The first phase of the development is projected to recover approximately 350 million barrels of oil equivalent, with potential for further drilling [3]. Group 2: Strategic Importance - The new hub is expected to increase Gulf output to over 400,000 barrels of oil equivalent per day by 2030, building on BP's operational experience [4]. - The project utilizes advanced technology designed to safely manage extreme pressures of up to 20,000 pounds per square inch [4]. Group 3: Financial Outlook - BP plans to launch eight to ten major projects globally between 2028 and 2030, with an investment of about $10 billion to unlock Paleogene resources in the Gulf [5]. - The company is balancing growth with shareholder returns, having raised its dividend and announced a $750 million share buyback in August [5].

BP has reached the final investment decision on its estimated $5 billion Tiber-Guadalupe project in the U.S. Gulf of Mexico, as part of its strategy to grow upstream production and boost its U.S. output to more than 1 million barrels of oil equivalent per day by 2030. Tiber-Guadalupe, 100%-owned by the UK-based supermajor, will be BP’s seventh operated oil and gas production hub in the Gulf of America, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil pe ...

Core Viewpoint - BP has announced a $5 billion offshore drilling project in the US Gulf of Mexico, demonstrating its commitment to rebuilding and expanding its operations in the energy sector [1] Company Summary - The $5 billion investment signifies BP's strategic focus on offshore drilling as a key area for growth [1] - This project is part of BP's broader strategy to enhance its energy production capabilities and respond to market demands [1] Industry Summary - The decision to invest in offshore drilling reflects a trend in the energy industry towards increasing production capacity in response to rising energy needs [1] - The Gulf of Mexico remains a critical region for oil and gas exploration, attracting significant investments from major energy companies [1]

British energy major BP (NYSE:BP) is moving forward with a $5 billion offshore drilling project in the U.S. Gulf of Mexico. The company reached a final investment decision on the Tiber-Guadalupe project, approving its second new production platform with the capacity ...