In our view, the story for BP p.l.c. (NYSE: BP ) and the wider group of European energy majors has always been about value, yet valuations for the stock have continued to drop over the course of last year, currentlyAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other tha ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking AlphaAnalyst’s Disclosure: I/we have a beneficial long position in the shares of O, UTG, PTY ...

A New York state court has dismissed the city’s lawsuit against major oil companies, marking a significant setback for climate accountability efforts. The suit, filed in 2021, accused ExxonMobil (XOM) , BP plc (BP) and Shell (SHEL) of misleading the public about the environmental impact of their products. The city alleged that these companies used deceptive marketing tactics to portray themselves as climate-friendly while continuing to invest heavily in fossil fuel production.Big Oil Targeted in the Lawsuit ...

BP plc (BP) , the UK-headquartered energy giant, has resumed gas production from its Shah Deniz Alpha platform in the Caspian Sea after resolving a technical issue that halted operations earlier this month. The temporary suspension on Jan. 10, 2025, was due to a malfunction in a subsea condensate export pipeline linking the platform to the Sangachal terminal.The company confirmed that the issue caused no environmental harm or safety risks to the platform or pipeline. Production and export operations have si ...

BP (BP) closed at $31.69 in the latest trading session, marking a -0.28% move from the prior day. This change lagged the S&P 500's 1% gain on the day. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 1.51%.The oil and gas company's stock has climbed by 11.86% in the past month, exceeding the Oils-Energy sector's loss of 3.79% and the S&P 500's loss of 2.14%.The upcoming earnings release of BP will be of great interest to investors. The company's upcoming EPS is projecte ...

BP plc (BP) , the British oil and gas giant, has announced job cuts to reduce its global workforce as part of its cost-cutting initiatives to restore investors’ confidence in the energy stock. The company will reduce its global staff by 5%, including almost 4,700 employees and 3,000 contractor positions. Per Reuters, the job cuts were announced in an internal memo.BP’s CEO Auchincloss has mentioned that the company aims to reduce costs by at least $2 billion by the end of 2026. Auchincloss also mentioned th ...

Group 1: Workforce Reduction - BP will cut over 5% of its global workforce, amounting to approximately 4,700 employees and 3,000 contractor positions, from a total workforce of around 90,000 [1][4] - This decision is part of CEO Murray Auchincloss' strategy to reduce costs and rebuild investor confidence following a scandal [1][2] Group 2: Cost-Cutting Measures - Auchincloss aims to cut costs by at least $2 billion by the end of 2026 to enhance returns and address investor concerns regarding BP's energy transition strategy [2] - The company has paused or halted 30 projects since June to focus on those with the highest profitability [7] Group 3: Leadership Changes and Scandal - Former CEO Bernard Looney resigned in September 2023 due to failure to disclose past personal relationships, which violated the company's code of conduct [3][5] - Looney's departure has created uncertainty in BP's leadership and future direction, leading to a shift back toward traditional oil and gas investments under Auchincloss [6] Group 4: Market Position and Performance - BP's market capitalization is currently at $84.58 billion, valued at less than half of Shell, and has fallen behind other oil majors [7] - The company's stock has decreased nearly 20% over the last five years, trading at $31.30 as of the market close on Wednesday [9][10]

BP engineer working on drilling rig, Caspian sea, Azerbaijan. (Photo: Giles Barnard/Construction ... [+] Photography/Avalon)Getty ImagesEnergy giant BP (LON: BP) unveiled nearly 8,000 job cuts on Thursday as part of corporate cost cutting measures across its global operations.Confirming the job losses, the FTSE 100 company said it would reduce its workforce by 4,700 staff. Given BP's global headcount is around 90,000 personnel, the cuts represent over 5% of its total workforce.The company also said 3,000 co ...

Market Overview - The S&P 500 has declined by -2.78% and the Nasdaq has fallen by -3.64% in the first week of 2025, indicating significant market volatility prior to the new administration taking over [1]. Investment Strategy - The focus is on growth and dividend income, with a strategy aimed at creating a portfolio that emphasizes compounding dividend income and growth [1]. - The portfolio is structured to provide monthly dividend income that grows through dividend reinvestment and yearly increases [1].

The U.S. Supreme Court has declined to hear an appeal from major oil companies seeking to block climate change lawsuits, clearing the way for Honolulu’s claims against industry giants to proceed. This decision, hailed as a landmark moment for climate accountability, allows lawsuits alleging deceptive practices by oil firms about fossil fuel impacts on global warming to remain in state courts, a venue perceived as less favorable to corporate interests. The lawsuit, originally filed in 2020, targets several i ...