The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: 0.00 (0.00%)
Spread: 0.10 (0.02%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 510.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

HEARD ON THE STREET: BP's Double Exposure

Mon, 21st Jun 2010 20:13

By Liam Denning A DOW JONES COLUMN After his roasting in the U.S., Tony Hayward might almost regard a mooted trip to Russia as a welcome break. But the BP chief executive's itinerary should remind investors focused on the Gulf of Mexico that it's a big bad world out there. Oil majors represent a collection of assets that they operate at the pleasure of host governments. Indeed, a rationale for industry consolidation has been that Big Oil is better able to resist political pressure--too big to foil, in other words. At that scale, however, replacing reserves is very difficult. In BP's case, that has led it into frontiers like deepwater fields and politically risky countries. Hence, while BP fights to protect its position in the U.S., where it produces 27% of its oil and gas, it must also maintain management focus on Russia, which accounts for 24% of output and where any sign of weakness can quickly be exploited. The disaster may also change the broader industry's strategic thinking. Over the past decade, high oil prices have strengthened oil producing nations and their national oil companies--both competitors with the majors for energy reserves and profits. In response, many majors have shifted investment toward long-lived, but often technically-challenging prospects in politically friendlier countries, such as oil sands in Canada. BP's disaster, however, has managed simultaneously to worsen the political climate in the U.S. and cast doubt on the industry's touted technical expertise. The most straightforward way to address rising political and technical risk is through better diversification. BP having roughly half its production and reserves in the U.S. and Russia leaves it looking exposed. For the majors, being global is just as important as being big. (Liam Denning joined The Wall Street Journal from the Financial Times, where he wrote for the Lex column. Previously, he was an investment banker at Goldman Sachs. He can be reached at 212-416-3618 or by email at liam.denning@wsj.com) (TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkbackAmericas@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.) (END) Dow Jones Newswires June 21, 2010 15:13 ET (19:13 GMT)
More News
18 Jan 2024 21:47

Three New England states extend offshore wind solicitation due date

Jan 18 (Reuters) - Massachusetts, Connecticut and Rhode Island extended on Thursday the date bids are due in the states' next offshore wind solicitations from Jan. 31 to March 27.

Read more
18 Jan 2024 20:32

EXECUTIVE CHANGES: Eco Buildings chair leaves and vice chair ousted

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

Read more
17 Jan 2024 15:03

London close: Stocks slip after surprise jump in UK inflation

(Sharecast News) - London's financial markets experienced a downturn on Wednesday, as a surprising increase in UK inflation and sluggish Chinese GDP growth impacted investor sentiment.

Read more
17 Jan 2024 12:10

BP's Auchincloss named CEO, reaffirms energy transition plan

Auchincloss was interim CEO

*

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.