BP plc (BP) , the UK-based energy major, has secured a foothold in Israel’s offshore gas exploration sector through a newly granted set of licenses, marking a strategic move alongside Azerbaijan’s SOCAR and NewMed Energy. This joint venture, approved by Israel’s Ministry of Energy and Infrastructure, will explore six blocks within the country’s Exclusive Economic Zone (“EEZ”), strengthening Israel’s energy security and boosting its export potential.In a competitive bidding round, BP, SOCAR, and NewMed Energ ...

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BP plc (BP) , the UK-based energy major, has approved the development of the Ginger natural gas project offshore Trinidad and Tobago. This is one of the 10 major upstream projects that the company aims to bring online by 2027. The decision aligns with BP's recent strategy reset, which involves increasing investment in oil and gas while scaling back spending on renewables. BP Expands Upstream Investment Amid Strategy Shift Last month, BP announced that it would increase its upstream oil and gas investments t ...

Group 1 - Global crude oil prices are experiencing a decline, with Brent crude down 15% year-on-year and showing negative returns so far in 2025 [1] - Despite the drop in oil prices, the global Energy sector has outperformed US large-cap stocks in recent months [1]

BP plc (BP) , the UK-based energy major, announced plans on Thursday to divest its mobility and convenience business in Austria, marking a strategic shift under CEO Murray Auchincloss' reset strategy. The move is part of the company's broader efforts to streamline operations and focus on core assets.BP to Exit Austrian Retail and EV Charging BusinessThe divestment will include more than 260 retail sites across Austria, along with BP’s Austrian fleet business, electric-vehicle (EV) charging infrastructure, a ...

BP plc (BP) , the UK-based energy major, has secured final approval from the Iraqi government to proceed with the redevelopment of the Kirkuk oil fields, aiming to produce more than 3 billion barrels of oil equivalent. This agreement marks a significant advancement for Iraq's energy sector, which has faced challenges due to years of conflict and infrastructural issues. The project also aligns with BP's strategic focus on enhancing its oil and gas portfolio.The contract involves collaboration between BP, Ira ...

BP plc (BP) , the UK-based energy major, is facing mounting pressure from activist investor Elliott Management, which has been meeting major shareholders to advocate deeper reforms, including cost cuts and potential leadership changes. The push came despite BP’s recent shift to hydrocarbons, following a strategy revamp last month.BP Faces Investor Scrutiny Over PerformanceBP has lagged rivals Shell and ExxonMobil over the past five years, a trend that many investors attribute to the company’s 2020 decision ...

Company Performance - BP closed at $34.11, reflecting a -1.27% change from the previous day, underperforming the S&P 500's gain of 1.77% [1] - Over the past month, BP shares increased by 1.95%, while the Oils-Energy sector gained 0.43% and the S&P 500 decreased by 5.73% [1] Earnings Projections - The upcoming EPS for BP is projected at $0.64, indicating a 34.02% decline compared to the same quarter last year [2] - Revenue is expected to reach $57.08 billion, representing a 14.25% increase from the year-ago quarter [2] - For the full year, earnings are projected at $3.21 per share and revenue at $241.39 billion, reflecting changes of -1.53% and +24.02% respectively from the prior year [3] Analyst Estimates and Valuation - Recent adjustments to analyst estimates for BP are crucial as they reflect short-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks BP at 3 (Hold), with a recent EPS estimate decrease of 9.11% [6] - BP's Forward P/E ratio stands at 10.78, which is a premium compared to the industry average of 7.99 [6] - The PEG ratio for BP is 1.22, slightly above the industry average of 1.19 [7] Industry Context - The Oil and Gas - Integrated - International industry, to which BP belongs, ranks in the bottom 39% of all industries according to the Zacks Industry Rank [8]

Group 1: BP's Transaction and Strategic Moves - BP has secured a $1 billion deal with Apollo-managed funds to divest a 25% non-controlling stake in BP Pipelines, which holds BP's 12% interest in the Trans-Anatolian Natural Gas Pipeline (TANAP) [1] - The agreement builds on a previous transaction in November 2024, where Apollo acquired a stake in the Trans Adriatic Pipeline, enhancing BP's ability to monetize infrastructure assets while retaining strategic governance rights [2] - The sale is expected to close in the second quarter of 2025, pending regulatory and shareholder approvals, and is part of BP's broader divestment program targeting $20 billion in proceeds [3] Group 2: Importance of TANAP and European Energy Security - TANAP spans approximately 1,800 kilometers across Türkiye and is a crucial segment of the Southern Gas Corridor, delivering gas from Azerbaijan's Shah Deniz field to European markets [4] - The pipeline plays a vital role in European energy security by ensuring a steady supply of natural gas [4] Group 3: Operational Updates and Future Prospects - BP recently resolved a temporary shutdown at its Shah Deniz Alfa platform due to a subsea pipeline technical issue, with operations resuming swiftly [5] - The Shah Deniz project has been a cornerstone of Azerbaijan's gas exports since 2007, with the second phase expanding production capabilities [5] - BP continues to optimize its portfolio while maintaining a stake in energy infrastructure critical for European gas supply [6]

Core Insights - BP plc is seeking to sell a 50% stake in its solar unit, Lightsource BP, to cut costs and improve returns while addressing investor concerns [1][7] - The initiative, named Project Scala, aims to find a strategic partner with expertise in renewable energy [2][3] - BP's recent strategy shift under CEO Murray Auchincloss emphasizes increasing returns from its renewable business while balancing financial discipline [3][5] Company Strategy - BP took full control of Lightsource BP for £400 million plus £2.1 billion in debt last October and is now looking to partially divest [2] - The company plans to cut renewable energy investments while increasing annual oil and gas spending to $10 billion [5] - BP is targeting $20 billion in divestments by 2027 and is reviewing its lubricants business, Castrol [5] Market Position and Expansion - Lightsource BP currently operates 5.7 gigawatts of assets across 19 markets, with over 2 GW of new projects completed in 2024 [3] - BP's sales document outlines an ambitious expansion strategy for Lightsource BP, targeting 3 to 5 GW of annual capacity additions [6] - A new investor could provide access to specific markets, such as India, where solar demand is surging [6] Investor Pressure - BP is under pressure from investors, particularly activist fund Elliott Management, which has built a 5% stake in the company [4] - Elliott Management has urged BP to scale back its green energy investments and focus on more profitable ventures, including oil and gas [4]