KEY TAKEAWAYSBP announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reportedly has taken a "significant" stake in the British oil giant.BP CEO Murray Auchincloss said the company plans to share a "new direction" during its Capital Markets Update on Feb. 26.BP has pivoted away from its core oil and gas business toward low-carbon operations in recent years. BP (BP) announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reported ...

BP plc (BP) , the British oil and gas giant, has decided to hit the brakes on the production of renewable fuels at the site of its previous Kwinana oil refinery in Western Australia. The move is believed to be part of the company’s cost-cutting initiatives.BP had plans to construct a biofuels project in Australia, known as Kwinana Renewable Fuels (“KRF”), alongside a green hydrogen plant named H2Kwinana. The Kwinana refinery was once Australia’s largest oil refinery, with a capacity of 146,000 barrels per d ...

Amid the fluctuations and uncertainties of the energy market, oil prices continue to soar, creating a highly favorable landscape for upstream businesses. Integrated energy giants stand resilient, leveraging their robust midstream operations that deliver steady, fee-based revenues from strategically positioned pipeline and storage assets. This financial strength reinforces the promising outlook for the Zacks Oil and Gas Integrated International industry, ensuring stability even in volatile times. Additionall ...

BP plc (BP) is set to report fourth-quarter 2024 earnings on Feb. 11.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Let us delve into the factors that are anticipated to have affected this integrated energy major’s quarterly performance. However, before that, it would be worth reviewing BP’s performance in the previous quarter.Highlights of Q3 EarningsIn the last reported quarter, the company’s adjusted earnings of 83 cents per American Depositary Share on a replacement-cost basis, e ...

oil pumpjacks in silhouette at sunset, panoramic frame (XXXL)gettyWe are—unequivocally—bullish on the US economy. We’re also big fans of the 6.1% dividend we’re going to discuss below, which trades for less than half its annual sales.That’s pretty much the opposite of the nosebleed 26 times sales (and 0.03% yield—not a typo!) over at NVIDIA (NVDA), even after last week’s panic over Chinese AI chatbot DeepSeek.US Stocks Are Wealth-Building Machines …Fact is, it’s easy to be bullish on the US these days, with ...

In our view, the story for BP p.l.c. (NYSE: BP ) and the wider group of European energy majors has always been about value, yet valuations for the stock have continued to drop over the course of last year, currentlyAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other tha ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking AlphaAnalyst’s Disclosure: I/we have a beneficial long position in the shares of O, UTG, PTY ...

A New York state court has dismissed the city’s lawsuit against major oil companies, marking a significant setback for climate accountability efforts. The suit, filed in 2021, accused ExxonMobil (XOM) , BP plc (BP) and Shell (SHEL) of misleading the public about the environmental impact of their products. The city alleged that these companies used deceptive marketing tactics to portray themselves as climate-friendly while continuing to invest heavily in fossil fuel production.Big Oil Targeted in the Lawsuit ...

BP plc (BP) , the UK-headquartered energy giant, has resumed gas production from its Shah Deniz Alpha platform in the Caspian Sea after resolving a technical issue that halted operations earlier this month. The temporary suspension on Jan. 10, 2025, was due to a malfunction in a subsea condensate export pipeline linking the platform to the Sangachal terminal.The company confirmed that the issue caused no environmental harm or safety risks to the platform or pipeline. Production and export operations have si ...

BP (BP) closed at $31.69 in the latest trading session, marking a -0.28% move from the prior day. This change lagged the S&P 500's 1% gain on the day. Elsewhere, the Dow saw an upswing of 0.78%, while the tech-heavy Nasdaq appreciated by 1.51%.The oil and gas company's stock has climbed by 11.86% in the past month, exceeding the Oils-Energy sector's loss of 3.79% and the S&P 500's loss of 2.14%.The upcoming earnings release of BP will be of great interest to investors. The company's upcoming EPS is projecte ...