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 2-Angola's LNG delayed again, but new oil blocks seen

Mon, 25th Feb 2013 17:21

* Project was due to start Q1, new date to be set in 6 weeks

* Angola to seek bids for 15 onshore oil exploration blocks

* Oil output up 4.5 pct in 2012, net profit drop notexplained

LUANDA, Feb 25 (Reuters) - Angola has delayed plans to beginexporting liquefied natural gas (LNG) because of technicalproblems at its $10 billion plant, a senior executive at stateoil firm Sonangol said on Monday.

Sonangol board member Baptista Sumbe told the company'sannual briefing a new start date for the project, called AngolaLNG, will be announced in six weeks once repairs have beencompleted.

Angola was initially expected to start exporting LNG in thefirst quarter of 2012, but the date was pushed back to the firstquarter of this year after several delays..

"To our regret, the project has been delayed. In October, wefaced another technical problem," Sumbe said.

"The repairs are being carried out now, and as soon as theyare done, within five to six weeks, we will be able to announcepublicly when the project can start," he added.

The 5.2 million tonnes-per-year project is led by Sonangol,which has a 22.8 percent stake and Chevron, which holds36.4 percent. Eni, Total and BP eachhold a stake of 13.6 percent.

Sonangol is the main player in the oil sector in Angola,Africa's second-largest oil producer after Nigeria. Besidesholding stakes in all of Angola's exploration blocks, it is alsothe national concessionaire in charge of awarding licences.

Board member Sebastiao Martins confirmed that the companyplans to hold a new bidding round for licenses to explore foroil in the pre-salt layer, this time for 15 onshore blocks inthe Kwanza and Basin.

Analysts and investors believe drilling thousands of metresthrough blocks known as pre-salt, could match huge discoveriesmade off the Brazilian coast in similar rock formations.

Sonangol expects to get the go-ahead from the government tolaunch the bidding process this year, Martins added.

Angola offered offshore exploration rights in the pre-saltlayer to seven oil majors including Total, BP and U.S. firmCobalt in 2011.

Chief Executive Francisco Lemos Jose Maria said Angola'scrude production rose 4.5 percent to 1.73 million barrels perday (mbpd) last year from 1.66 mbpd in 2011, a year marked bytechnical problems and maintenance at oil fields.

The CEO added that net profit in 2012 came in at $1.24billion, but did not explain a drop from the previous year, whenthe company reported net profit of $3.3 billion.

More News
20 Nov 2023 16:53

LONDON MARKET CLOSE: FTSE 100 drifts lower as eyes turn to Fed

(Alliance News) - European equities closed mixed in muted trade at the start of the week, with focus turning to Tuesday's Federal Reserve meeting minutes, as investors mull the outlook for US interest rates.

Read more
17 Nov 2023 12:00

LONDON MARKET MIDDAY: Stocks shrug off downbeat UK retail sales

(Alliance News) - Stock prices in London were up at midday on Friday, as a week of favourable data as far as inflation goes gave investors a reason to overlook disappointing UK retail sales figures.

Read more
17 Nov 2023 09:03

LONDON MARKET OPEN: Stocks up despite UK retail sales growth miss

(Alliance News) - Stock prices in London opened higher on Friday, despite weaker-than-expected October retail sales figures for the UK.

Read more
16 Nov 2023 16:59

LONDON MARKET CLOSE: Stocks give way after rate optimism-fuelled rally

(Alliance News) - European equities closed lower as a post-US inflation slowdown rally seen on Tuesday and Wednesday gave way to a more muted session on Thursday.

Read more
16 Nov 2023 12:06

LONDON MARKET MIDDAY: Stocks down as post-inflation data rally fades

(Alliance News) - Stock prices in London were down at midday on Thursday, with mixed corporate updates tempering enthusiasm in the wake of two favourable inflation readings earlier in the week.

Read more
16 Nov 2023 08:57

LONDON MARKET OPEN: FTSE 100 flat; Burberry tumbles on weak outlook

(Alliance News) - Stock prices in London opened in a muted fashion on Thursday, as the week's optimism waned somewhat, but did not give way to pessimism.

Read more
10 Nov 2023 16:53

LONDON MARKET CLOSE: Europe and New York diverge after hawkish Powell

(Alliance News) - Stocks in Europe suffered on Friday, as US interest rate worries cast a dark cloud over equity markets, though counterparts in New York had a more resilient start to the day.

Read more
10 Nov 2023 15:45

London close: Stocks tumble on Powell comments as GDP stagnates

(Sharecast News) - London markets declined on Friday as investors reacted to hawkish remarks by Federal Reserve chair Jerome Powell made overnight.

Read more
9 Nov 2023 08:57

LONDON MARKET OPEN: FTSE 100 kicks off day with cautious gain

(Alliance News) - London's FTSE 100 struggled for direction early Thursday, with a mixed slate of corporate updates, US interest rate worries and underwhelming China data preventing it from making more confident progress in early trade.

Read more
7 Nov 2023 16:58

LONDON MARKET CLOSE: FTSE 100 held back by miners and oil firms

(Alliance News) - The FTSE 100 in London closed slightly lower on Tuesday, as miners and oil firms continued to drag down the index throughout the day.

Read more
7 Nov 2023 12:07

LONDON MARKET MIDDAY: Housebuilders and retail up, miners and oil down

(Alliance News) - European equities were mixed heading into Tuesday afternoon, with weaker China data and doubts over the US interest rate outlook weighing on the mood.

Read more
7 Nov 2023 08:53

LONDON MARKET OPEN: AB Foods and Frasers rise on buybacks; RS slumps

(Alliance News) - A subdued start to the week for European equities continued on Tuesday, with hawkish words from a US central banker supporting the dollar and making some rethink their interest rate outlook for the Federal Reserve.

Read more
6 Nov 2023 10:24

Kosmos Energy to operate Yakaar-Teranga gas discovery amid BP exit

(Alliance News) - Kosmos Energy Ltd on Monday said it has increased its working interest in the Yakaar-Teranga discovery to 90%, consequently assuming operatorship, and reported a rise in its quarterly revenue.

Read more
3 Nov 2023 17:01

LONDON MARKET CLOSE: Stocks end week mixed on soft US employment data

(Alliance News) - Stock prices in London closed mixed on Friday, as some soft US data seemingly confirmed that the central banks are done with interest rate hikes, at least for now.

Read more
2 Nov 2023 10:19

Berenberg ups BP target but sees greater upside elsewhere

(Sharecast News) - Berenberg has lifted its target price for oil titan BP after this week's third-quarter results, but kept a 'hold' rating, saying it sees more attractive investments elsewhere in the sector.

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.