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BP PLC on Monday said the floating production, storage and offloading vessel for its Greater Tortue Ahmeyim liquefied natural gas project set sail from Qidong in China on Friday.

The vessel, supported by BP's oil & gas producing partner Kosmos Energy Ltd,will travel 12,000 nautical miles to the project off the coast of Mauritania and Senegal.

London-based oil major said the FPSO will produce around 500 million standard cubic feet of gas per day and expects the project's first phase to produce around 2.3 million tonnes of liquefied natural gas annually.

"The FPSO will process natural gas - removing condensate, water, and other impurities - before exporting it by pipeline to the project's floating liquefied natural gas facilities, 10km offshore," BP explained.

Monday's announcement follows BP in autumn last year signing an exploration and production sharing contract with Mauritania's government for the BirAllah gas resource in the west African country and a memorandum of understanding to deliver a programme exploring the potential for large-scale production of green hydrogen in the country
In addition, bp continues to work with partners on the development of a major gas to power project in Senegal – Yakaar Teranga," BP said on Monday.

Morning Jaker ( and Spights).
It’s going to be a very interesting mix of businesses going forward.
With some disconnected from direct reliance on price of oil.
Some of these businesses like Lightsource BP and Aker BP are right up there with best in class,so very very positive.
We just need to grow another couple of Unicorns.

Zac
I would be looking for more.
I think 25% rise would be perfect ( or at worst an announcement that we will get a 25% rise in the next quarter).
Politically it’s the right time Windfall tax has happened.
As has the big tax grab on div,and capital gains so the timing will never be better.
We wait and hope.

https://www.businessweekly.co.uk/news/cleantech/no-gamble-johnson-matthey-and-bp-strike-it-rich-reno

Hope you are right.
It’s really hard to read this market,something always seem to come along and put a spanner in the works.
Personally very pleased with the directions BP is heading with exception of div which think it’s close to time for a bit more,which I am sure will move sp up.

Afternoon Spights
I was getting a bit lonely

– United Arab Emirates renewable energy company Masdar, state oil firm Abu Dhabi National Oil Company (ADNOC) and oil major BP agreed to conduct a joint feasibility study on exploring the production of sustainable aviation fuel (SAF) in the UAE, Masdar said in a statement on Friday.

The agreement, which includes Abu Dhabi Waste Management Company Tadweer and Abu Dhabi’s Etihad Airways, would explore the production of SAF, alongside other products like renewable diesel and naphtha, using municipal solid waste and renewable hydrogen, Masdar added.

“The feasibility study will leverage the capabilities of the five partners to evaluate the technical and commercial viability of such a project. If the study’s conclusions are positive, the partners will target working toward developing the region’s first commercial-scale production capacity in Abu Dhabi,” Masdar said.

Zac
It’s funny how some people make statements you just feel you have to respond to.
I think sometimes I bring out your inner little devil.
:)))

Thanks Zac.
Trying to look on the bright side.
I also look at things as another day with oil prices still in the Goldilocks zone.
Not too high ,not to low.

H Jakers
All I can say is every day we are a day closer to a substantial rise in div.
It will happen.
I wish I knew when ( that would be worth serious money).
But as debt becomes lower,surplus cash will need a new home.
And unless they do a game changing acquisition they can really only give it to us.
Full year results end 2023 will be very interesting as we will then know how windfall tax impacts BP.
But one set of results at a time

https://mercomindia.com/lightsource-bp-investment-481-mw-solar/

OWLS
My view for what it’s worth.
Currently sp does not represent the cash BP is making.
When sp was about £2-4 it made a kind of sense to buyback shares that were cheaper than their real value.
Particularly if they can reissue new shares for Employees at a higher price than they bought back.
However I do get a bit less comfortable buying back above £5 as so often in the past this has not proved to be a good investment.
I personally think it’s time to start to change the balance between buybacks and div ,with more cash for div.

You too
Results day slowly getting closer.
Any sp still possible

BP p.l.c. (the "Company") announces that on 20 January 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 3,522,625 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 1 November 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 482.50
Lowest price paid per Share (pence): 475.10
Volume weighted average price paid per Share (pence): 477.4048

The 5 most profitable Western oil majors – ExxonMobil, Chevron, TotalEnergies, BP, and Shell - are expected to garner almost $200 billion in 2022 profits, almost doubling the previous all-time high.

- Consequently, total debt held by these companies plunged to a 15-year low of $100 billion, quite a sea change compared to the $270 billion of debt amassed in the first Covid-ridden year of 2020 when prices collapsed.

- Analysts believe the same 5 majors would see their profits take a step lower to $158 billion this year, driven by inflationary pressures and weaker energy prices, but the debt-reducing trend would continue.

- The two US majors, ExxonMobil and Chevron, lead the pack in profitability as Europe’s leading oil firms have been hamstrung by separate windfall tax regimes

I posted this on the BP page 2 days ago

According to Energy Intelligence’s 2023 oil market outlook, OPEC+ is targeting a calmer market for 2023, and a likely price range target of around $80-$90 per barrel.
Last year, OPEC+ cut production by 2 million barrels per day in November in order to stabilize the market, a move that Washington believed was politically motivated.
Ultimately, OPEC+ will be looking for less volatility this year, which means it is unlikely to act pre-emptively on recession fears or intervene with oil prices below $100.

I’m getting more and more confident that OPEC plans put a floor of $80 for oil.
With lots of upside to maybe $100 for oil.
And when the recession ends oil supply must be very tight.
I believe OPEC have learned from previous mistakes and will do whatever it takes.
Only my opinion
Time will tell if it comes true

I would imagine if anyone can know the value of these business’s it would be
BP Lightsource.
That’s a few they have sold and taken cash.
It also would help the company know it’s total value if it can put a price on its mature businesses
I suspect it’s a way of having even more cash to invest in the business going forward

https://www.power-technology.com/news/lightsource-bp-solar-spain/

https://cleantechnica.com/2023/01/19/shell-bp-jump-into-ev-charging-with-both-feet/

Morning all
definitely a better start to the day