BP restarts North Sea gasfield that it owns with Iran: BP has recommenced production at one of the U.K.’s most important North Sea gasfields, nearly four years after the oil major was forced to halt output because of sanctions against Iran.
Although weaker oil prices mean energy companies and investors can expect lower profits in the coming months, big integrated oil majors may find their unloved oil refining businesses will soften the blow, according to a WSJ report.
For the likes of BP and Shell (RDS.A, RDS.B), their refining operations become more profitable when the oil they use is cheaper; for each dollar-per-barrel of improved profit margin for refined products, BP generates $500M/year in extra pre-tax operating profit, and BP says that refining margin was $5.70/bbl higher in recent weeks than in Q4 of last year.
nearly topped up today but didn`t cos SO much scare and silly articles about oil prices. QUESTION ! remember until 2 years ago we hjeard LOTS and LOTS and the oil price fluctuated/ went up accordingly. Reason ? the regular hurricanes and whether their course would cause the workers to be taken off the drilling rigs . Ain`t it VERY strange now we hear absolutely nothing like that. Climate change was supposed to make it worse, the New Orleans thing was supposed to be more likely. SO :- Is such news now being suppressed ? or Can the US now control the weather ? amazing the number of floods that happen now other places.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.