BP plc (BP) stock has experienced a gain of almost 2%, since the announcement of an accord with Apollo Global Management, Inc. (APO) on Sept.16. Strategic Importance of BP's Trans Adriatic Pipeline AG Recently, Apollo and BP entered into a deal valued at $1 billion, where Apollo Funds will be granted a noncontrolling shareholding in bp Pipelines TAP Limited, which has about 20% shareholding in Trans Adriatic Pipeline AG (TAP). TAP, the owner and operator of a natural gas transportation infrastructure, repre ...

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Core Insights - BP's Castellon refinery in Spain will receive 25 MW of PEM electrolyzer systems from Plug Power as part of a joint venture with Iberdrola aimed at reducing carbon emissions through green hydrogen integration [1][2][3] - The project is expected to cut 23,000 tons of CO2 emissions annually and produce 2,800 tons of green hydrogen, enhancing sustainability and aligning with global climate goals [3][4] - Plug Power's involvement highlights its growing influence in the green hydrogen sector, with potential future expansion up to 2 gigawatts of electrolysis capacity [5][6][7] Company Performance - BP shares have underperformed the industry, declining 12.1% over the past six months compared to the industry's 1.1% decline [8] - BP currently holds a Zacks Rank 5 (Strong Sell), while Delek Logistics Partners, a competitor, has a Zacks Rank 1 (Strong Buy) with an expected earnings growth rate of 5.6% for the current year [10][11]

BP plc (BP) ), a leading UK-based energy company, has enlisted American Bureau of Shipping ("ABS") for a range of services related to the floating production unit (FPU) for its Kaskida development in the U.S. Gulf of Mexico. This marks BP's sixth-operated deepwater project in the region, located in a high-margin basin. ABS will provide classification and engineering verification services for the new semi-submersible FPU, a key component in BP's growing Gulf of Mexico portfolio. ABS' Role in BP's Kaskida Dev ...

BP plc (BP) , the British energy major, has announced a final investment decision for the construction of a green hydrogen project at its Castellón refinery, in partnership with the Spanish utility firm Iberdrola (IBDRY) . The company stated that the capacity of the green hydrogen project would be 25 MW and the facility is expected to come online in the second half of 2026. This hydrogen project is the first initiative of its kind, set to be developed by BP and Iberdrola through their 50-50 joint venture Ca ...

Trial met the primary and all key secondary endpoints in adults with moderate-to-severe disease; five times more patients achieved sustained disease remission with Dupixent than placebo Dupixent is the first medicine to show significant steroid-sparing effect in this debilitating and lifethreatening disease If approved, Dupixent would be the first and only targeted medicine to treat BP in the U.S. and European Union TARRYTOWN, N.Y. and PARIS, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc ...

Core Insights - BP plc has agreed to sell four mature gas fields and undeveloped resources in Trinidad and Tobago to Perenco T&T as part of its strategy to focus on shallow water, deepwater, and cross-border gas projects in the region [1][4] - The assets being sold include the Immortelle, Flamboyant, Amherstia, and Cashima gas fields, which currently produce approximately 30,000 barrels of oil equivalent per day, along with undeveloped resources from the Parang field [2][5] - BP will continue to purchase gas from these fields to fulfill its contractual obligations, with the ownership transfer expected to be completed by the end of 2024 [3] BP's Strategic Focus - This divestment aligns with BP's broader strategy to high-grade its portfolio by concentrating on new growth areas in Trinidad and Tobago, particularly in shallow water developments and deeper gas opportunities [4][5] - The move is intended to boost gas production, drive value, and support the energy future of Trinidad and Tobago [5] Perenco's Expansion - For Perenco, acquiring these assets marks a significant expansion in Trinidad and Tobago, where the company plans to leverage its expertise in mature field operations to enhance the life and production potential of the newly acquired fields [6][7] - Since entering the Trinidad market in 2016, Perenco has established itself as a notable gas supplier, and this acquisition further strengthens its role in the country's energy security [7] BP's Future Growth Initiatives - BP's divestment of mature assets is part of a series of strategic moves to optimize its Trinidad portfolio, including securing three deepwater blocks in partnership with Shell and participating in a shallow-water bid round in 2024 [8] - Additionally, BP has been granted a license for the Cocuina field in Venezuela, which is a step towards developing the cross-border Manakin-Cocuina gas field [8][9] - A joint venture with EOG Resources, Inc. for the development of the Coconut field is also in place, with the first gas expected in late 2026, reflecting BP's commitment to growing its gas business in Trinidad and Tobago [9]

The Index of Oil. Up. getty AI is in and energy is out. As usual. Which is just dandy for contrarian dividend investors like us. Let's talk about dividends up to 6.6% and stock prices that are dirt cheap. How cheap? Stocks trading for as little as half their sales! The best time to buy energy is before the next supply shortage. I was just "upwind" of Hurricane Hone on the Big Island of Hawaii—'tis the season for storms. Plus we have a volatile Middle East. And an economy that may get a bit of juice as the F ...

Core Insights - BP plc's Cherry Point oil refinery is launching a sustainable energy program to produce jet fuel from biomass feedstocks, supported by a nearly $27 million federal grant [1][3] - The initiative aims to produce jet fuel from sustainable sources such as beef tallow, soybean oil, and used cooking oil, marking a shift from traditional petroleum-based fuels [2][7] - The project is expected to produce up to 10 million gallons of green jet fuel annually, creating approximately 96 new jobs and contributing to local economies [4][6] Economic and Environmental Impact - The sustainable jet fuel project will supply airports across the Pacific Northwest via the Olympic Pipeline, enhancing cleaner air travel [5][6] - This initiative aligns with broader efforts to promote low-emission engines and reduce fuel consumption, contributing to the global transition toward cleaner fuels [6][7] Strategic Positioning - BP's efforts at Cherry Point represent a significant step toward sustainability and set an example for the energy and aviation industries [7] - The initiative is part of a larger strategy to diversify energy sources and adapt to the growing demand for greener solutions [7]

landbysea BP (NYSE:BP) (OTCPK:BPAQF) reported solid Q2'24 results that showed that the British energy company continues to benefit from earnings tailwinds related to higher petroleum prices. BP is also focusing on new major development projects in the Gulf of Mexico, which is set to be a catalyst for earnings and free cash flow growth going forward. Importantly, BP is trading at an exaggerated earnings yield of 15%, which is way above the company's rivals in the upstream industry. Since BP is focused on gro ...