you need to own the stock on record date. ex div date is set 2 days before the record date. trades used to take 3 days to settle but now take 2. so historically you would always need to purchase before close 1 day before ex date. Im not certain that is the case now. i wouldnt risk buying on ex date to find out.
BP announces final investment decision to expand Indonesia’s Tangguh LNG facility
Project will create 10,000 new jobs and support economic growth in Papua Barat Province
BP, on behalf of Tangguh Production Sharing Contract Partners, today announced that the Final Investment Decision (FID) has been approved for the development of the Tangguh Expansion Project in the Papua Barat Province of Indonesia.
“The Tangguh Expansion Project demonstrates BP and its partners’ continued confidence in Indonesia and our commitment to work closely with the government to meet the country’s energy needs, while creating thousands of jobs,” said Bob Dudley, BP Group Chief Executive.
The Tangguh Expansion Project will add a third LNG process train (Train 3) and 3.8 million tons per annum (mtpa) of production capacity to the existing facility, bringing total plant capacity to 11.4 mtpa. The project also includes two offshore platforms, 13 new production wells, an expanded LNG loading facility, and supporting infrastructure.
The Tangguh Expansion Project will play an important role in supporting Indonesia’s growing energy demand, with 75% of the Train 3 annual LNG production sold to the Indonesian state electricity company PT. PLN (Persero). The remaining volumes are under contract to Kansai Electric Power Company in Japan, the other foundation buyer for Train 3.
The Tangguh Expansion Project will also bring a positive contribution to Indonesia and the Papua Barat Province starting in 2016, supporting economic growth and providing 10,000 valuable jobs spread over the project period.
Tangguh is currently making positive local social and economic impacts through its comprehensive community development programs and providing much needed electricity for the Teluk Bintuni Regency. Train 3 will enhance this with a portion of the gas committed for the electrification of Papua Barat, and further development of Tangguh’s Papuan workforce to meet the 85% Papuan skilled workforce commitment by 2029.
Commenting on the decision, Christina Verchere, BP Regional President Asia Pacific said, “This final investment decision marks the culmination of many years of hard work by BP, our partners, and the Indonesian Government. We are pleased to reach this major milestone and look forward to continued cooperation as we progress the largest upstream project in the eastern part of Indonesia.”
This FID decision follows the Government of Indonesia’s approval of the Plan of Development II in late 2012. Awards for the project’s key engineering, procurement and construction (EPC) contracts are expected in the third quarter of 2016 with construction to begin thereafter. Operation is expected in 2020.
Also consider the amount of investors who have been sitting on the sidelines for the Brexit result to pass. There has been a big influx of cash into the FTSE and BP is a solid company with good dividend and posted better than expected Q1 results. No reason why the Sp can't move up more from here oil market has balanced out considerably over the last month. BP was knocking £4 before brexit so it's just continued on the upward curve.
Sold 40% of holding at close. The market is still pricing in a dividend cut which is understandable. $50 oil means cash flow covers capex, you need $60 oil to pay a sustainable dividend. BP seemed to draw a line in the sand when they said the upper gearing level was 30%, I think it's circa 25 now. Interesting times.
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