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BP PLC
01 August 2022

BP p.l.c.

Total voting rights and share capital



As at 29 July 2022, the issued share capital of BP p.l.c. comprised 19,036,485,438

ordinary shares (excluding treasury shares) par value US$0.25 per share, each with one vote; and 12,706,252 preference shares par value £1 per share with two votes for every £5 in nominal capital held.



The number of ordinary shares held in treasury by BP p.l.c. is 1,031,563,112. These treasury shares are not taken into consideration in relation to the payment of dividends and voting at shareholder meetings.



The total number of voting rights in BP p.l.c. is 19,041,567,938. This information may be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BP p.l.c. under the FCA's Disclosure Guidance and Transparency Rules.



This announcement is made in accordance with the requirements of Disclosure Guidance and Transparency Rule 5.6.

BP is to invest up to £50 million in a new global battery research and development centre in Britain. Planned to open by the end of 2024, the facilities will be located at the headquarters for its Castrol business in Pangbourne, Berkshire. They will help to advance the development of leading fluid technologies and engineering for hybrid and fully battery electric vehicles, with the aim of bringing the industry closer to the tipping point for mainstream electric vehicle adoption. - The Times

No it did not drop that amount.
It never reached 110
Check Brent live for more accurate
Good luck tomorrow
:)))))

https://www.livecharts.co.uk/MarketCharts/brent.php

We still need men

Russian has cut off gas to Latvia amid growing energy concern for winter in Europe after supplies to Poland, Bulgaria, Finland, Netherlands and Denmark were also axed.

U.S. Crude Production Sinks In May

African Countries Push Hard for Trans-Saharan Gas Pipeline. The governments of Nigeria, Niger, and Algeria have signed a memorandum of understanding on the construction of the long-mooted Trans-Saharan gas pipeline, a $13 billion project first proposed in the early 1980s and expected to transport 30 bcm of Nigerian gas to Europe.

Shell Moves Away from European Upstream. Oil major Shell (LON:SHEL) is looking to invest in new upstream ventures in regions where there is support for development, an implicit jab towards mounting opposition to fossil projects in Europe, CEO Ben van Beurden said countries like Suriname or Namibia are very high on the priority list.

Germany to Introduce Gas Solidarity Tax. The German government is set to impose a levy on all gas consumers that would come into effect from October 01 and last until the end of September 2024, meaning an average German household could face additional energy costs of up to €1000 per year.

Major Nigeria Oil Pipeline Dries Up Amidst Theft. According to Bloomberg, the 180,000 b/d Trans-Niger oil pipeline operated by Shell and feeding into the Bonny Light export terminal has stopped transporting crude since mid-June amid widespread theft, with there being illegal taps into it in at least 150 places.

Congo Licensing an Environmental Catastrophe in Waiting. The Democratic Republic of Congo launched this week the licensing of 30 oil and gas blocks sprawling across the country’s vast peatlands, drilling in which could trigger a regional climate disaster by releasing billions of tons of carbon.

PDVSA Poisons Environment Again. According to media reports, an ongoing oil leak from Platform G of the Pedernales shallow-water field in eastern Venezuela, a project abandoned as the field lacks electricity, has been poisoning the waters of the Orinoco River, one of the country’s most environmentally sensitive areas.

Petrobras Finds Gas in Offshore Colombia. Whilst Colombia’s onshore drilling has been mired in shale controversies, Petrobras (NYSE:PBR) recorded another gas find in the offshore deep-water block of Tayrona, with the recently spudded Uchuva-1 well.

July 29th, 2022

The overall sentiment in oil markets has been greatly buoyed by bumper Q2 profits posted by the likes of ExxonMobil, Chevron, and Shell – and this time around, thanks to falling gasoline prices in the US, there have been no accusations of making more money than God. With all leading oil majors promising either to maintain or intensify share buybacks over the upcoming period, oil stocks have seen a much-needed surge this week. As well as improving confidence, rumors of OPEC+ keeping September production targets unchanged have helped push oil prices higher, with the front-month ICE Brent contract moving up to $110 per barrel.

The Fight for the Nord Stream 1 Turbine Rages On. The Nord Stream 1 turbine, a point of contention between Germany and Russia (Siemens Energy vs Gazprom), is still yet to reach its destination amidst a customs spat, with Gazprom cutting NS1 throughput to a mere 20% of capacity.

US Climate Bill Roars Back to Life. Following a surreptitiously negotiated Schumer-Manchin deal that guarantees the continuation of oil lease sales, the prospects for a $370 billion climate bill have become much rosier as Democrats in the US Senate seek to vote on it as soon as next week.

Industry Expects Cautious OPEC+ Moves. According to media reports, OPEC+ countries are expected to keep their oil production targets unchanged for September 2022 as they get together next week for their upcoming ministerial meeting, brushing aside U.S. calls for more output.

PEMEX Enjoys Rare Profit Season. CEO of Mexican state oil company PEMEX, the world’s most indebted oil firm ($121.8 billion), said its H1 profits rose to an unprecedented $12.7 billion thanks to an average crude price of $105 per barrel and that for the first time in many years PEMEX is set to see an annual profit.

Coal Demand to Hit Record High This Year. The International Energy Agency forecasts that coal demand will rise to 8 billion tons this year, a 0.7% increase year-on-year, matching a record high set in 2013 and paving the way for further hikes next year hit an all-time high.

Ivory Coast Upgrade Boosts its Upstream Allure. Thanks to a successful second exploration well drilled next to the Baleine discovery in offshore Ivory Coast, the largest oil find of 2021, the resource estimate of the field was increased to 2.5 billion barrels, up 0.5 billion barrels compared to previous appraisals.

Flooding Disrupts Operations at UAE’s Fujairah Hub. Exceptional rainfall, the highest level in nearly three decades, has forced UAE national oil company ADNOC to shut down operations at the Fujairah terminal as the military rescued more than 800 personnel amidst flash floods.

African Countries Push Hard for Trans-Saharan Gas Pipeline. The governments of Nigeria, Niger, and Algeria have signed a memorandum of understanding on the construction of the long-mooted Trans-Saharan gas pipeline, a $13 billion project first proposed in the early 1980s and expected to

NEW YORK, July 29 (Reuters) - Oil prices settled up more than $2 a barrel on Friday as attention turned to next week's OPEC+ meeting and dimming expectations that the producer group will imminently boost supply.

Additional reporting by Shadia Nasralla, Sonali Paul in Melbourne and Jeslyn Lerh in Singapore Editing by David Goodman, Louise Heavens, David Gregorio and Diane Craft

32,845.13 +315.50 (0.97%)today
Another good day Monday
Have a great weekend :)

12,390.69 +228.09 (1.88%)to

29.38 USD +0.90 (3.16%)

You beat me to it
I am. with you on Lloyds

12,339.24 +176.65 (1.45%)tod

29.33 USD +0.85 (2.98%)to

:)))))))))
£££££££££

£4.01

Community

U.S. supermajors ExxonMobil and Chevron both reported their highest-ever quarterly profits on Friday as oil and gas prices rallied and refining margins jumped to multi-year highs in the second quarter.

ExxonMobil (NYSE: XOM) beat analyst expectations and booked second-quarter earnings of $17.9 billion, or $4.21 per share assuming dilution. This is nearly quadruple the $4.69 billion earnings for the second quarter last year, and more than triple the earnings from the first quarter of this year. Exxon’s per share earnings easily beat the analyst consensus of $3.84.

Higher oil and gas prices, the highest refining margins in years, increased production, and aggressive cost control all contributed to the record-breaking profits at Exxon, which beat its previous quarterly earnings record from 2012 and the quarterly profits from 2008, when Brent prices hit a record $147 per barrel.

Second-quarter earnings were “driven by a tight supply/demand balance for oil, natural gas, and refined products, which have increased both natural gas realizations and refining margins well above the 10-year range,” Exxon said.

The U.S. other supermajor, Chevron (NYSE: CVX), also posted record earnings beating analyst forecasts, thanks to high oil and gas prices and tight fuel markets driving multi-year high refining margins.

Chevron booked adjusted earnings of $11.4 billion, or $5.82 per share, for the second quarter, up from $3.3 billion earnings, or $1.71 per share, for the same period of 2021. The analyst consensus was for $5.08 EPS for this past quarter.

Chevron increased the top end of its annual share repurchase guidance range to $15 billion, up from the $10 billion guidance from March.

Following the results release, Chevron stock was up by more than 3.5% pre-market on Friday, while Exxon was advancing by 2.5%.

The record earnings from the U.S. supermajors add to similarly strong earnings from the European majors, each of which reported much higher profits as commodity prices rallied.

By

CDT

Saudi Arabia’s Energy Minister Abdulaziz bin Salman met today in Riyadh with Russia’s Deputy Prime Minister and top OPEC+ negotiator Alexander Novak to discuss further cooperation between the two countries ahead of next week’s monthly OPEC+ meeting.

According to a tweet by the Saudi Energy Ministry, “The meeting discussed the latest developments in the work of the Saudi-Russian joint committee, and discussed opportunities for cooperation between the two countries within its framework.

The next OPEC+ meeting, scheduled for August 3, should see the end of the record production cuts that the extended cartel agreed in 2020 amid the demand destruction wrought on the oil industry by pandemic lockdowns around the world.

At the time, the group agreed to remove a combined 9.7 million barrels daily from global oil supply. Since then, OPEC+ has been gradually reversing the cuts but underperforming, prompting worry that not all of its members are capable of increasing their output in line with demand growth.

According to unnamed sources cited by Reuters, OPEC+ might consider keeping its production rate unchanged in September, although there will also be discussions of a moderate increase in output.

“OPEC production is constrained, though supplies are stabilizing in Libya and Ecuador. Under-investment in many member countries will keep production constrained,” ANZ Research said ahead of the meeting.

Analysts from Energy Intelligence also said a substantial hike in oil production from the OPEC+ group was unlikely to follow next week’s meeting, noting the spare capacity constraints of its members.

Only two OPEC members have considerable spare capacity—Saudi Arabia and the UAE—and both have indicated they are unwilling to tap it in response to calls from Europe and the U.S. to boost production in order to make up for lost Russian barrels as a result of Western sanctions