Latest Articles
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BP Gains Further Access to Indonesian Deepwater as Stock Reaches for $55
Last week BP (NYSE:BP) announced that it had been awarded two oil and gas production sharing contracts (PSCs) by the Government of Indonesia. The contracts cover an off-shore area of approximately 16,400 square kilometers with water depths rangi...
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BP Gets Support from $100 Oil, Past Mistakes Still Stinging
Oil major BP (NYSE:BP) had an eventful week as rising WTI prices sent Energy stocks up. The West Texas Intermediate (WTI) benchmark is set to rise and cover the spread between itself and the European Brent crude benchmark as plans to reverse the ...
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BP Wins Russian Case, TNK-BP to Enter Gas Production
Oil major BP (NYSE:BP) scored a significant victory over its minority partners in the TNK BP joint venture last week as a Siberian court dismissed the case by minority stakeholders who were claiming billions of dollars of damages over the failure...
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BP Suffers Setback with Failed Deal, Stock Still Worth $55
The oil spill in the Gulf of Mexico in 2010 forced some dramatic changes for BP (NYSE:BP) and CEO Bob Dudley. At $40 billion, even a cash generating machine like BP is bound to feel the cost of the clean up, and they have. After starting a $30 bi...
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BP Good for $56 if it Can Boost Production
Oil major BP (NYSE:BP) announced its Q3 results which beat analyst expectations despite a 12% drop in production over the same quarter last year. The company also painted an upbeat picture of future growth prospects, estimating that it would revi...
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BP Rises on Good News Ahead of Earnings
BP (NYSE:BP) saw its share price cross the $40 mark yesterday, after it was trading at $38 a week ago. The company was at the receiving end of some good news over the past few days as the U.S. government agreed to allow BP to bid for new drilling...
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BP & Anadarko Make up in $4 Billion Settlement Benefitting Both Parties
Anadarko Petroleum (NYSE:BP) has agreed to pay BP (NYSE:BP) $4 billion in an agreement to settle claims relating to the April 2010 U.S. Gulf of Mexico disaster that resulted in the death of 11 workers and the worst oil spill in U.S. history. Anad...
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BP Earnings Preview: Good Riddance to Q3
On the 25th of October, BP (NYSE:BP) will become the first major oil company to report earnings for Q3 2011. Earlier this week competitor Chevron (NYSE:CVX) had indicated that its Q3 results were expected to remain in-line with their Q2 figures. ...
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Report Divides Blame for Spill Between BP, Contractors
BP (NYSE:BP) saw its stock rise by 5% on Wednesday as the Bureau of Ocean Energy Management, Regulation and Maintenance released its report on the causes of the Macondo blowout that resulted in the death of 11 personnel on board of the Deepwater...
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BP Places Bets on the Gulf of Mexico and India to Raise Output
BP (NYSE:BP) will look to new drilling projects in the Gulf of Mexico and increased output from the KG Basin deepwater wells in India to prop up its sagging output. The company has been under pressure to revive its production levels that saw a 9%...
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BP’s Stock Holds up Despite Russian Raids & Platform Closures
BP (NYSE:BP) has been taking some lumps in recent weeks. Just this past week the energy major had its Moscow offices raided in relation to its aborted attempt at partnering with Russian giant OAO Rosneft without the consent of its current Russian...
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How Libyan Developments Can Impact BP
BP (NYSE:BP) announced this Monday that it would be resuming its Libyan operations ‘when conditions allow’ as the rebels press closer to ending Gadhafi’s 42 year regime. BP had to halt its plans to drill in offshore in Gulf of S...
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A Banged up BP is Still Worth $55
BP (NYSE:BP) recently reported earnings that showed a 13% growth in replacement cost profits. While the company reported higher revenues on the back of high oil prices, its production levels fell by 11% because of divestments and lower production...
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Big Oil Makes Small Strides in Renewables
BP (NYSE:BP), Chevron (NYSE:CVX), Exxon Mobil (NYSE:XOM), ConocoPhillips (NYSE:COP) and Total S.A. (NYSE:TOT) are some of the largest names in the vertically integrated oil industry. And all of them have faced criticism from environmental watchdo...
