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Share Price Information for BP (BP.)

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Share Price: 460.00
Bid: 459.60
Ask: 459.80
Change: 0.00 (0.00%)
Spread: 0.20 (0.044%)
Open: 460.30
High: 463.35
Low: 458.30
Prev. Close: 460.00
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BP posts 64% decline in second-quarter profits

Tue, 28th Jul 2015 08:32

(ShareCast News) - BP has reported a 64% slump quarterly profits as the low oil price and fallout from the 2010 Gulf of Mexico oil spill continued to dent its takings. In trading update on Tuesday, the company said second-quarter replacement cost profit came in at $1.31bn, compared to $3.63bn recorded over the corresponding quarter last year.The figure was well short of the $1.66bn called by analysts. The replacement cost profit measure takes into account fluctuations in the price of oil reconciling it against takings, and is used across the US dollar sensitive oil and gas industry to report earnings.After allocating another $7.5bn towards costs relating to the 2010 oil spill, the company recorded an actual loss of $6.26bn.On 2 July, BP reached an $18.7bn settlement with US Department of Justice over the Deepwater Horizon oil spill, with disbursal of the said amount spread over 18 years. The development prompted ratings agency Moody's to upgrade its outlook on the company from 'negative' to 'positive'.With BP budgeting for a $60 a barrel oil price for the next three financial years, headline capital expenditure is expected to be less than $20 billion for the current year. However, cash costs for the year to date are currently $1.7bn below the corresponding quarter last year, as the company's cost cutting measures continue.Societe Generale argued that while the headline numbers missed consensus, this was due to a material non-cash exploration write-off of circa $800m, half of which was due to force majeure events in Libya. "Thus underlying upstream performance, adding back the write-offs, was of the order of $1.2bn-$1.3bn and thus ahead of consensus."
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17 Jan 2024 15:03

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17 Jan 2024 12:10

BP's Auchincloss named CEO, reaffirms energy transition plan

Auchincloss was interim CEO

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17 Jan 2024 08:48

LONDON MARKET OPEN: UK inflation surprises markets sending stocks down

(Alliance News) - Stock prices in London took a hit on Wednesday morning, after some hotter-than-expected UK inflation data added to interest rate worries.

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17 Jan 2024 08:33

TOP NEWS: BP buys Getec Energie; promotes Auchincloss to permanent CEO

(Alliance News) - BP PLC on Wednesday said that it will buy Getec Energie GmbH as it promoted Murray Auchincloss to the role of permanent chief executive officer.

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17 Jan 2024 07:46

LONDON BRIEFING: UK inflation surprises as unexpectedly rises to 4.0%

(Alliance News) - Stocks in London are called to open lower on Wednesday, following some hotter-than-expected consumer price data from the UK.

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17 Jan 2024 07:11

BP names acting CEO Murray Auchincloss as permanent leader

(Sharecast News) - BP has named its former chief financial officer Murray Auchincloss as its permanent chief executive, after having served in an interim capacity for the past four months.

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16 Jan 2024 21:28

PRESS: BP close to naming acting CEO Auchincloss as permanent chief

(Alliance News) - Directors of BP PLC were meeting on Tuesday evening to finalise the appointment of Murray Auchincloss, the company's acting chief executive, as its permanent boss, according to a report.

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16 Jan 2024 16:38

Shell halts Red Sea shipments over attack fears from Yemeni rebels

(Alliance News) -London-based oil major Shell PLC has paused transit through the key Red Sea shipping route indefinitely, over fears of escalating tensions involving Yemen's Houthi rebels, according to a media report on Tuesday.

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16 Jan 2024 13:13

Shell in Nigeria

LONDON, Jan 16 (Reuters) - Shell pioneered Nigeria's oil and gas industry and remains a major investor in the West African country even after exiting its onshore operations. But over the decades the British company has come under fire over spills in the Delta region and struggles with oil theft, corruption and oil-fuelled violence.

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12 Jan 2024 15:39

London close: Stocks rise on positive UK economic data

(Sharecast News) - London's financial markets closed on a positive note today, buoyed by fresh data indicating that the UK economy had returned to growth in November.

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8 Jan 2024 19:48

Shell signs 20-year purchase deal with Canadian Ksi Lisims LNG project

Jan 8 (Reuters) - Global gas giant Shell has agreed to buy two million metric tons of liquefied natural gas (LNG) per year from Ksi Lisims LNG, partners in the proposed Canadian project said on Monday.

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8 Jan 2024 16:59

LONDON MARKET CLOSE: Stocks mixed as eyes on US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, with oil majors holding down higher gains in the FTSE 100 index.

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8 Jan 2024 16:38

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

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8 Jan 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms in muted start to week

(Alliance News) - Stock prices in London traded lower at the start of the week, with oil firms weighing on then FTSE 100, as investors look ahead to the week's key inflation prints.

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