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Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 524.80
Bid: 525.20
Ask: 525.30
Change: -1.50 (-0.29%)
Spread: 0.10 (0.019%)
Open: 529.30
High: 530.70
Low: 522.30
Prev. Close: 526.30
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BP, Det Norske to form joint Norwegian independent producer

Fri, 10th Jun 2016 07:04

(ShareCast News) - BP and Det Norske Oljeselskap on Friday said they were combining the assets and expertise from both companies' exploration and production operations to create Aker BP ASA, which will become Norway's largest independent oil and gas producer.Under the terms of the proposed deal, Aker BP will be independently operated and listed on the Oslo Stock Exchange. It will be jointly owned by current Det Norske shareholder Aker (40%), other Det norske shareholders (30%) and BP (30%). BP will also receive a cash payment of $140m plus positive working capital adjustments as part of the transaction.The companies said they believed the new "Norwegian super-independent" could organically grow production to more than 250,000 barrels of oil equivalent per day by the early 2020s. Headquartered in Trondheim, Det Norske Oljeselskap ASA is an independent exploration and production company with exploration, development and production activities on the Norwegian Continental Shelf. Det Norske merged with Aker Exploration in 2009 and acquired Marathon Oil Norway in 2014. It employs about 550 people.Det Norske is the operator of producing fields Alvheim, Volund, Vilje and Jette. The company is also the operator of the large Ivar Aasen development. The company is also a partner in the Johan Sverdrup field, one of the largest on the Norwegian continental shelf.Headquartered in Fornebu (Oslo), Aker ASA is a leading Norwegian company that owns interests in subsidiaries in oilfield services construction and marine sectors. Aker owns 49.9% of Det Norske along with significant ownership stakes in Aker Solutions (oilfield services) and Kvaerner (oilfield construction) amongst other interests. BP Norge has been active on the Norwegian continental shelf since 1965 and operates five producing fields comprised of 13 platforms and one floating, production, storage and offloading vessel. The five fields are the Skarv field in the Norwegian Sea and Valhall, Hod, Ula and Tambar in the North Sea. Headquartered in Stavanger, BP Norge has approximately 850 employees.
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(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

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15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

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(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

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12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

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12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

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12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

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12 Apr 2024 14:45

London close: Stocks mixed as data shows UK GDP growth

(Sharecast News) - London's markets closed with a mixed performance on Friday, as investors digested the latest GDP data suggesting an end to the recession in the UK.

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12 Apr 2024 11:51

LONDON MARKET MIDDAY: February data spurs end of UK recession hopes

(Alliance News) - Stocks in London got a boost on Monday at midday, as investors were optimistic that the UK is heading out of its short lived recession.

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12 Apr 2024 11:47

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

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12 Apr 2024 11:37

TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

(Alliance News) - Shares in BP jumped on Friday after reports that the state-owned, United Arab Emirates oil company was considering, but had ruled out, a bid for the London-based oil major.

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12 Apr 2024 08:58

LONDON MARKET OPEN: Stocks get boost thanks to growth in UK economy

(Alliance News) - Stock prices in London opened higher on Friday, thanks to new data suggesting the UK economy is out of recession.

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12 Apr 2024 07:56

UAE's ADNOC said to have recently considered BP takeover

(Sharecast News) - The United Arab Emirates' state-owned oil company recently considered buying BP but the deliberations did not progress beyond preliminary discussions, according to a report.

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11 Apr 2024 14:41

Senegal says oil, gas and mine contracts will be reworked if needed

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10 Apr 2024 08:41

Johnson Matthey and BP win deal for US sustainable aviation fuel plant

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10 Apr 2024 07:47

LONDON BRIEFING: Stocks called up ahead of US inflation data

(Alliance News) - Stocks in London are called to open higher, as investors shake off nerves ahead of a key US inflation reading.

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