We would love to hear your thoughts about our site and services, please take our survey 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: 512.60
Bid: 512.50
Ask: 512.60
Change: -7.80 (-1.50%)
Spread: 0.10 (0.02%)
Open: 520.00
High: 521.80
Low: 510.70
Prev. Close: 520.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
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
8 Jan 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms in muted start to week

(Alliance News) - Stock prices in London traded lower at the start of the week, with oil firms weighing on then FTSE 100, as investors look ahead to the week's key inflation prints.

Read more
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

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.