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Share Price Information for BP (BP.)

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Share Price: 483.00
Bid: 481.65
Ask: 481.80
Change: 0.45 (0.09%)
Spread: 0.15 (0.031%)
Open: 479.30
High: 483.25
Low: 477.30
Prev. Close: 482.55
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UAE asks oilfield bidders for 2-month offer extension - sources

Tue, 14th Oct 2014 15:21

DUBAI, Oct 14 (Reuters) - The United Arab Emirates has askedbidders for its biggest onshore oilfields to extend their offersby two months until Dec. 31, sources familiar with the mattersaid, as the country considers bringing in Asian firms afterdecades-long partnerships with western majors.

Nine Asian and western firms have bid for stakes in the AbuDhabi Company for Onshore Oil Operations (ADCO) concession aftera deal with western oil majors that dates back to the 1970sexpired in January.

State-run Abu Dhabi National Oil Company (ADNOC) has askedthe nine bidding companies to extend offers that were due toexpire around Oct. 22 until Dec. 21, three sources said.

Industry observers say any changes in the concessions wouldbe made at the highest decision-making body for the oil and gasindustry, the Supreme Petroleum Council. They say there is adifference in opinion inside the SPC over whether to stick withwestern companies, or make room for newcomers from Asia, whilesome would like to see ADNOC operating the fields alone.

ADNOC could not be reached for comment and none of the ninecompanies would comment. One source said however that it wasunlikely any company would refuse ADCO's request.

"Is any company going to say 'no our bids have expired'? Theanswer is no. No company is going to go through this effort andthen say our offers are not valid anymore," the source said.

ExxonMobil, Royal Dutch Shell, Total and BP - have each held 9.5 percent equitystakes in the ADCO concession since the 1970s. Portugal's Partexhad a 2 percent stake, and the rest was held by ADNOC.

After the deal expired in January, ADNOC took 100 percent ofthe concession. Shell, Total and BP have made their new bids,which are being evaluated by the government of Abu Dhabi, thecapital of the UAE, while Exxon has decided against bidding,sources have told Reuters.

U.S. firm Occidental Petroleum Corp, Italy's ENI, China National Petroleum Corp. (CNPC), Norway'sStatoil, Japan's Inpex and Korea National Oil Corp havealso bid for the new deal.

Each company submitted two proposals last year - one for a 5percent stake and another for a 10 percent stake, with a oneyear validity, the first source said. (Reporting by Rania El Gamal, additional reporting by GwladysFouche, Michel Rose, James Topham, Stephen Jewkes; editing bySusan Thomas)

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LONDON MARKET OPEN: BP jumps after unveiling share buyback

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6 Feb 2024 07:47

LONDON BRIEFING: BP promises buyback despite drop in profit

(Alliance News) - Stocks in London are called to open higher, ahead of a slew of construction purchasing managers' index readings from the eurozone, the UK and Germany.

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6 Feb 2024 07:02

BP unveils $1.75bn buyback as 2023 profits halve on weaker oil price

(Sharecast News) - Shares in BP surged on Tuesday as the energy giant announced a $1.75bn share buyback despite a slump in annual profits as oil prices fell during 2023 from the spike caused by Russia's invasion of Ukraine.

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LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

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2 Feb 2024 13:14

BP appoints Kate Thomson as its permanent finance chief

(Sharecast News) - BP announced the appointment of Kate Thomson as its new, permanent chief financial officer on Friday, effective immediately.

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2 Feb 2024 12:27

TOP NEWS: BP promotes Kate Thomson as permanent finance chief

(Alliance News) - BP PLC on Friday named Kate Thomson as its permanent chief financial officer, after being in the interim role since September.

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LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

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2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

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1 Feb 2024 17:03

LONDON MARKET CLOSE: Stocks down on hawkish BoE interest rates hold

(Alliance News) - Stock prices in London closed down on Thursday after the Bank of England left interest rates on hold in a split decision that was hawkish on expectations of rate cuts.

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1 Feb 2024 12:22

LONDON MARKET MIDDAY: BoE keeps bank rate on hold in split decision

(Alliance News) - London's FTSE 100 was on the up on Thursday afternoon after the Bank of England left interest rates on hold on Thursday, in a split decision.

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1 Feb 2024 10:06

New UK oil and gas exploration licences approved in the North Sea

(Alliance News) - The UK's oil and gas regulator has awarded 24 new exploration licences to 17 separate companies in a move that has been welcomed by a trade body but condemned by climate campaigners.

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LONDON MARKET OPEN: Shells begins USD3.5 billion buyback; eyes on BoE

(Alliance News) - Stock prices in London opened mixed, ahead of the Bank of England's first interest rate decision of the year.

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30 Jan 2024 15:28

UK earnings, trading statements calendar - next 7 days

Wednesday 31 January 
Aberforth Smaller Companies Trust PLCFull Year Results
abrdn Private Equity Opportunities Trust PLCFull Year Results
Ecora Resources PLCTrading Statement
GSK PLCFull Year Results
ITM Power PLCHalf Year Results
NWF Group PLCHalf Year Results
Thursday 1 February 
Airtel Africa PLCTrading Statement
AG Barr PLCTrading Statement
BT Group PLCTrading Statement
Cranswick PLCTrading Statement
Gem Diamonds LtdTrading Statement
Glencore PLCTrading Statement
JTC PLCTrading Statement
Rank Group PLCHalf Year Results
Shell PLCFull Year Results
TClarke PLCTrading Statement
Friday 2 February 
YouGov PLCTrading Statement
Monday 5 February 
Home REIT PLCTrading Statement
Porvair PLCFull Year Results
Trident Royalties PLCTrading Statement
Vodafone Group PLCTrading Statement
Tuesday 6 February 
Alumasc Group PLCHalf Year Results
BP PLCFull Year Results
Filtronic PLCHalf Year Results
Mattioli Woods PLCHalf Year Results
Renishaw PLCHalf Year Results
Virgin Money UK PLCTrading Statement
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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29 Jan 2024 17:25

London close: Stocks turn weaker ahead of busy week for earnings

(Sharecast News) - London's stock market saw slight declines by the close on Monday, as investors turned their attention to a week filled with corporate earnings reports and central bank announcements.

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29 Jan 2024 17:02

LONDON MARKET CLOSE: Stocks slightly down pre US Fed, Bank of England

(Alliance News) - Stock prices in London closed mutedly lower on Monday, ahead of a busy week of interest rate decisions and economic data.

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