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 ...

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 ...

Financial Performance - The company reported a first quarter adjusted EBITDA of $10.3 billion and underlying earnings of $2.7 billion, demonstrating resilient financial performance despite an unplanned outage at the Whiting refinery [5][6]. - Operating cash flow for the quarter was $7.4 billion, adjusted for expected seasonal working capital build [6]. Business Line Performance - The company made strategic progress with the safe start-up of the Azeri Central lease project and the online launch of Checkmate, its third central processing facility [6]. - In biogas, Archaea brought online its largest modular RNG plant and has five more in commissioning [6]. Market Performance - The company announced a 42.5% firm-in into an exploration block in the Orange basin offshore Namibia, indicating expansion in its market presence [7]. Company Strategy and Industry Competition - The company aims to deliver at least $2 billion in cash cost savings by the end of 2026, focusing on simplifying operations and removing complexity [7]. - The management emphasized a countercyclical approach to acquisitions, indicating a focus on strategic growth during low price periods [31][32]. Management Commentary on Operating Environment and Future Outlook - Management acknowledged challenges in the macroeconomic environment, particularly in the U.S. freight sector, which has impacted business performance [11][16]. - The company remains confident in achieving its 2025 EBITDA targets of $3 billion to $4 billion from transition growth engines, driven by growth in various segments including EV and hydrogen [13][16]. Other Important Information - The company is focusing on digital transformation to drive efficiencies, including the use of AI to reduce coding needs and improve operational efficiency [73][76]. - The company is also looking to optimize its supply chain through alliances with partners to eliminate waste and improve cost efficiency [76]. Q&A Session Summary Question: Concerns about 2025 EBITDA targets - Management acknowledged skepticism in the market regarding the 2025 EBITDA targets but highlighted strong operational momentum and growth in transition engines as key drivers [11][16]. Question: Lessons learned from Whiting refinery outage - Management stated it is too early to draw lessons from the outage, but the team is currently reviewing the incident to improve future operations [12]. Question: Cost-cutting measures and benchmarking against peers - Management discussed the challenges of comparing costs across companies due to different accounting practices and emphasized their focus on cash costs and efficiency improvements [21][22]. Question: Dividend growth expectations - Management indicated that the Board will consider various factors for dividend growth, including share count reduction and overall business performance [86][87]. Question: Update on low-carbon and trading businesses - Management confirmed that low-carbon trading is included in overall trading numbers but will not be broken out further beyond existing disclosures [112]. Question: Update on the Permian operations - Management reported that the third central gathering process is now online, increasing capacity and improving productivity in the Permian region [103][104].