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: 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
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-BP issues force majeure to Golar over Tortue Ahmeyim LNG project

Wed, 08th Apr 2020 17:08

(Adds detail on Kosmos Energy, comment from BP)

April 7 (Reuters) - Golar LNG Ltd said on Tuesday
it received a force majeure notice from a BP unit seeking
to delay by a year receipt of a floating liquefied natural gas
facility for the African Tortue Ahmeyim project.

The notice is the latest force majeure claim issued in the
LNG sector that is struggling with a seasonal plunge in demand
as well as the spread of the coronavirus, which has further
hammered the consumption of the super-chilled fuel globally.

BP is expecting a one-year delay due to the pandemic and
currently sees no possibility for reducing that time frame,
according to a statement from Golar's unit Gimi MS Corp.

BP was expected to take delivery of the facility in 2022 and
charter it for 20 years to liquefy gas from its Greater Tortue
Ahmeyim project on the maritime border between Mauritania and
Senegal.

"While the full impact cannot yet be determined, as a
reasonable and prudent operator, BP is engaging transparently
and collaboratively with key stakeholders to mitigate risks," a
BP spokesman said.

"This includes issuing a Force Majeure (FM) notice to Golar
in line with the terms of the lease and operate agreement dated
26 Feb 2019. This is a direct result of the ongoing business
impacts due to COVID-19(disease caused by the new coronavirus)."

Golar said it was in talks with BP to establish the duration
of the delay and the extent to which this has been caused by the
coronavirus outbreak.

Kosmos Energy owns around 28% of the project, for
which first gas is projected to start flowing in the first half
of 2023, but it has said it wants to reduce its stake to around
10%.

The plant is designed to produce an average of about 2.5
million tonnes of LNG per annum. The construction of the
floating facility was expected to cost about $1.3 billion,
excluding financing costs.

Golar also said it was talking to its main building
contractor, Keppel Shipyard Ltd, to re-schedule activities to
reduce its capital spending commitments for 2020 and 2021.

Companies invoke force majeure when they cannot meet their
contractual obligations because of circumstances beyond their
control.
(Reporting by Arathy S Nair in Bengaluru, additional reporting
by Shadia Nasralla in London; Editing by Anil D'Silva and
Alexandra Hudson)

More News
8 Jan 2024 08:40

LONDON MARKET OPEN: Commodity-heavy FTSE 100 heads lower; Shell slips

(Alliance News) - The FTSE 100 kicked off the week on a downbeat note at Monday's market open, amid share price falls for commodity stocks.

Read more
6 Jan 2024 12:29

BP investors want oil firm to approach BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach BAE Systems Chief Executive Charles Woodburn about becoming the British oil giant's next boss, Sky News reported on Saturday, citing unidentified sources.

Read more
6 Jan 2024 11:38

BP investors want oil behemoth to target BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach Charles Woodburn, the BAE Systems chief executive, about becoming the company's next boss, Sky news reported on Saturday. (Reporting by Devika Nair in Bengaluru; Editing by Jan Harvey)

Read more
4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

Read more
4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

Read more
4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

Read more
4 Jan 2024 09:31

LONDON BROKER RATINGS: Jefferies cuts Tullow; Berenberg likes Volex

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
4 Jan 2024 08:58

LONDON MARKET OPEN: Next leads buoyant FTSE 100 amid services PMIs

(Alliance News) - Stock prices in London opened up on Thursday, amid a slew of services PMI data, including for the UK, while reacting to the latest data from China.

Read more
3 Jan 2024 18:37

Equinor, BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - European energy firms Equinor and BP terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

Read more
3 Jan 2024 17:02

Equinor and BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - Equinor and BP terminated on Wednesday their agreement to sell power to New York state from their 1,260-megawatt Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

Read more
3 Jan 2024 16:52

LONDON MARKET CLOSE: Stocks down ahead of US Fed minutes

(Alliance News) - Stock prices in London closed lower on Wednesday, as investors nervously look ahead to the latest US Federal Reserve meeting minutes.

Read more
3 Jan 2024 08:18

Chill Brands plots product launches and looks to ease regulatory worry

(Alliance News) - Chill Brands Group PLC on Wednesday said its vape products will soon launch in retail stores, including WH Smith PLC travel locations, and it reported a trio of initiatives to help soothe regulatory scrutiny.

Read more
2 Jan 2024 16:58

LONDON MARKET CLOSE: Stocks down amid disappointing manufacturing data

(Alliance News) - Stock prices in London closed lower on Tuesday, after the year was started with some disappointing data about the UK and US manufacturing sectors.

Read more
29 Dec 2023 13:01

LONDON MARKET CLOSE: UK equities outclassed by other markets in 2023

(Alliance News) - Stock prices in London closed mixed on Friday, the final trading day of 2023, as the annual returns from UK equities were outshone by international markets.

Read more
28 Dec 2023 16:54

LONDON MARKET CLOSE: End of year rally cools as FTSE 100 edges lower

(Alliance News) - Stock prices in London closed mixed on Thursday, the final full trading day of a mixed year, though the FTSE 100 is still on track to deliver a gain of more than 3% for 2023.

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.