Roundtable Discussion; The Future of Mineral Sands. Watch the video 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: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
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-Wintershall CEO: Ukraine crisis won't scupper Gazprom deal

Thu, 13th Mar 2014 13:31

* Says moving closer to Russia as due to gain gas fieldaccess

* Criticises EU for delaying pipeline progress

* Focuses also on new regions in Middle East

By Vera Eckert

KASSEL, Germany, March 13 (Reuters) - BASF oiland gas unit Wintershall said the Ukraine crisis would notscupper an asset-swap agreement with Gazprom whichwould give Russia greater access to gas trading and storage inGermany.

Wintershall Chief Executive Rainer Seele said on Thursdaythat the companies had all the necessary approvals and thearrangement, agreed in 2012 and approved late last year, was nowonly a matter of operational implementation.

"I see no impact from the Ukraine crisis on the process," hetold a news conference.

The deal will give Wintershall more access to Siberian gasfields as it focuses on its role as a producer rather thantransporter and trader of gas.

Board member Gerhard Koenig, in charge of trading, said:"Our customers are expecting the deal. Gazprom sees it as aspringboard for further growth in Europe and Germany."

Wintershall said it will see sales fall this year due to thedivestment in favour of Gazprom inside Germany, but that it willcompensate for that by reaping more benefits from oil and gasproduction in its core regions across the globe.

Under the swap deal, Russian state-controlled gas producerGazprom will get full control of one of Europe's leading gasstorage firms Astora and gas trader Wingas, second to E.ON in Germany's gas market, Europe's biggest.

Wintershall will gain 25 percent of the Siberian Achimov IVand V blocks, where current production is around 2 billion cubicmetres (bcm) a year and is set to quadruple to 8 bcm by 2018.

"We're getting closer to Gazprom in oil and gas, in Russiaand Europe ... We know that we are good together," Seele said.

Seele also said that Wintershall's 50 percent stake inGascade, a gas pipeline grid company which it shares withGazprom and was exempted in the swap deal, was not up for sale.

SOUTH STREAM

Board member Mario Mehren said that, notwithstandingquestions raised in Brussels over Gazprom's new South Streampipeline, work on the plan was on time and the first tranchewould be completed by the end of 2015.

Wintershall is a shareholder along with France's EDF and Italy's Eni. It is also part of the NordStream consortium which has been operating a huge pipeline forRussian gas via the Baltic Sea since 2011.

Seele criticised moves by the EU Energy Commissioner to slowprogress on an onwards link to Nord Stream, Opal, and moredelays on technical issues surrounding South Stream in thelatest sign of strains in the energy links between Moscow andthe European Union, caused by Russian forces' seizure of Crimea.

"Every pipeline is necessary as it will bring more gassecurity. (Commissioner Guenther) Oettinger needs to rethink hisstrategy," he said.

Opal, which runs to the Czech Republic and can hold 36 bcmof gas, can only be half filled due to a regulatory spat.

Seele also said an agreement to explore oil and gas in NorthAfrica with BP was agreed on March 12 but there were nodetails available. "We'll talk about it later in 2014," he said.

Wintershall gave no indication when it might resume more oilshipments from Libya where export terminal strikes have blockedtransfer of its output since July 2013, and where only itsoffshore fields are producing.

But it pegged great hopes on upcoming expansions in Norway,Argentina's unconventional gas resources, Abu Dhabi and Qatar.

More News
4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

Read more
4 Mar 2024 07:41

LONDON BRIEFING: Stocks called down; attention on UK's spring budget

(Alliance News) - Stocks in London are called to open lower, ahead of a busy week of economic news.

Read more
22 Feb 2024 09:49

LONDON BROKER RATINGS: Berenberg raises Moneysupermarket.com to 'buy'

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

Read more
15 Feb 2024 16:52

LONDON MARKET CLOSE: Stocks in green despite UK hit by recession

(Alliance News) - Stock prices in London closed higher on Thursday, after data showed that the UK economy slipped into recession in the final quarter of 2023, buoying hopes for interest rate cuts from the Bank of England.

Read more
15 Feb 2024 14:55

London close: Stocks manage gains despite UK recession news

(Sharecast News) - London markets had a mixed but ultimately positive day of trading on Thursday, despite news that the UK fell into a technical recession at the end of 2023.

Read more
15 Feb 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 flat as strong start fades

(Alliance News) - The FTSE 100 tread water on Thursday afternoon, as share price declines for some of London's heavyweights offset a strong start for the index, which got a boost from Bank of England rate cut hopes.

Read more
15 Feb 2024 09:17

BP hails arrival of LNG vessel at project off Senegal and Mauritania

(Alliance News) - BP PLC on Thursday celebrated the arrival of a gas vessel offshore west Africa, which it called a "major milestone" for its project there.

Read more
14 Feb 2024 12:01

BP and Adnoc form gas joint venture in Egypt to boost capabilities

(Alliance News) - BP PLC on Wednesday said it will form a joint venture with Abu Dhabi National Oil Co in Egypt, under which BP will contribute its interests in three development concessions.

Read more
14 Feb 2024 10:27

BP and Adnoc agree Egyptian joint venture

(Sharecast News) - BP has agreed a new joint venture in Egypt with long-standing partner Adnoc, it was confirmed on Wednesday.

Read more
11 Feb 2024 09:27

PRESS: BP to book USD700 million windfall on UK tax changes - FT

(Alliance News) - BP PLC is set to book a USD700 million windfall due to UK tax changes aimed at boosting corporate pension fund investment in the economy, the Financial Times reported on Saturday.

Read more
9 Feb 2024 11:44

LONDON MARKET MIDDAY: European markets quiet heading into afternoon

(Alliance News) - European stock markets were quiet heading into Friday afternoon, as investors eye the annual US consumer price index benchmarks revisions.

Read more
8 Feb 2024 16:06

UK dividends calendar - next 7 days

Friday 9 February 
AJ Bell PLCdividend payment date
B&M European Value Retail SAspecial dividend payment date
BlackRock Latin American Investment Trust PLCdividend payment date
Braemar PLCdividend payment date
i3 Energy PLCdividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Montanaro UK Smaller Cos Investment Trust PLCdividend payment date
Netcall PLCdividend payment date
Origin Enterprises PLCdividend payment date
Sage Group PLCdividend payment date
Schroder AsiaPacific Fund PLCdividend payment date
Tracsis PLCdividend payment date
Tufton Oceanic Assets Ltddividend payment date
Monday 12 February 
no events scheduled 
Tuesday 13 February 
Cohort PLCdividend payment date
Future PLCdividend payment date
Mondi PLCspecial dividend payment date
Wednesday 14 February 
Blackrock Frontiers Investment Trust PLCdividend payment date
Ecora Resources PLCdividend payment date
Grainger PLCdividend payment date
Oxford Metrics PLCdividend payment date
Supermarket Income REIT PLCdividend payment date
Unicorn AIM VCT PLCdividend payment date
Unicorn AIM VCT PLCspecial dividend payment date
Thursday 15 February 
Alternative Income REIT PLCex-dividend payment date
Aquila European Renewables PLCex-dividend payment date
Balanced Commercial Property Trust Ltdex-dividend payment date
BioPharma Credit PLCex-dividend payment date
BP Marsh & Partners PLCex-dividend payment date
BP PLCex-dividend payment date
Elixirr International PLCdividend payment date
Gabelli Merger Plus+ Trust PLCex-dividend payment date
GCP Asset Backed Income Fund Ltdex-dividend payment date
Greencoat UK Wind PLCex-dividend payment date
Gulf Investment Fund PLCex-dividend payment date
Hargreave Hale AIM VCT PLCdividend payment date
Henderson Opportunities Trust PLCex-dividend payment date
ICG Enterprise Trust PLCex-dividend payment date
Impax Environmental Markets PLCex-dividend payment date
Imperial Brands PLCex-dividend payment date
Invesco Perpetual UK Smaller Cos IT PLCex-dividend payment date
Invesco Select Trust PLC Global Equity Incomedividend payment date
Invesco Select Trust PLC UK Equitydividend payment date
JPMorgan European Growth & Income PLCex-dividend payment date
Knights Group Holdings PLCex-dividend payment date
M Winkworth PLCdividend payment date
Majedie Investments PLCex-dividend payment date
Mattioli Woods PLCex-dividend payment date
Mobeus Income & Growth 4 VCT PLCex-dividend payment date
Mountview Estates PLCex-dividend payment date
Murray Income Trust PLCex-dividend payment date
NCC Group PLCex-dividend payment date
NextEnergy Solar Fund Ltdex-dividend payment date
Pershing Square Holdings Ltdex-dividend payment date
PRS REIT PLCex-dividend payment date
Ramsdens Holdings PLCex-dividend payment date
Schroder UK Mid Cap Fund PLCex-dividend payment date
Shell PLCex-dividend payment date
Triple Point Venture VCT PLCex-dividend payment date
Troy Income & Growth Trust PLCex-dividend payment date
UK Commercial Property REIT Ltdex-dividend payment date
  
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.

Read more
6 Feb 2024 17:39

London close: Stocks manage gains as oil prices rise

(Sharecast News) - London's financial markets finished with a positive performance on Tuesday, driven by encouraging data from the UK construction sector and BP's share buyback expansion.

Read more
6 Feb 2024 17:04

LONDON MARKET CLOSE: BP and Prudential help snap FTSE losing streak

(Alliance News) - Stock prices in London pushed higher on Tuesday, with the FTSE 100 registering its first rise in four trading days, with oil major BP the star performer.

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.