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Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 475.85
Bid: 475.75
Ask: 475.90
Change: 3.05 (0.65%)
Spread: 0.15 (0.032%)
Open: 476.30
High: 479.45
Low: 475.85
Prev. Close: 472.80
BP. Live PriceLast checked at -

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Broker snap: BP buyback higher than expected, says Canaccord

Fri, 22nd Mar 2013 10:06

Canaccord Genuity has kept its 'hold' rating and 500p target price for oil giant BP but has said that Friday's announced share buyback is bigger than the market had expected.Following the closure of the sale of BP's 50% stake in TNK-BP to Rosneft, the oil group announced a share buyback of up to $8.0bn, returning an amount equivalent to the value of the company's original investment. Canaccord said that the market was expecting a buyback of $5-6bn."Our own published forecasts have buybacks of $6bn this year and $2bn next year - this looks broadly consistent with BP's statement given that it expects the total $8bn of buybacks to take 12-18 months to conclude. As a result, we see no reason at this stage to alter our forecasts or our view."BP received a net total of $12.5bn in cash from the sale, along with an 18.5% stake in Rosneft. The two parties also said they are studying a series of potential joint-venture projects, both in offshore Arctic exploration and in development of west Siberian tight oil resources."Nothing firm has yet been announced, but these types of projects are the sort of upside that we have been expecting to flow from BP's closer alignment with Rosneft," the broker said.Canaccord believes that BP's investment in Rosneft offers access to "much better growth opportunities" than its interest in TNK-BP, though the cash contribution is significantly lower meaning that its contribution to dividends has reduced.Shares were up 2.49% at 460.6p by 10:43.BC
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10 Jun 2024 22:44

California seeks company profits in Big Oil climate lawsuit

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10 Jun 2024 21:48

California seeks company profits in Big Oil climate lawsuit

June 10 (Reuters) - California's attorney general on Monday sought to force the world's biggest oil companies to give up profits the state alleges they made while deceiving consumers about their role in contributing to climate change.

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10 Jun 2024 15:37

Supreme Court seeks US government views on Honolulu climate suit against oil companies

WASHINGTON, June 10 (Reuters) - The U.S. Supreme Court on Monday asked President Joe Biden's administration to offer its views on a bid by Sunoco and other oil companies to scuttle a lawsuit by Honolulu accusing them of deceiving the public about climate change.

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4 Jun 2024 17:16

European shares snap three-day winning streak on commodities' drag

Energy shares hit over two-month lows, biggest drag

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4 Jun 2024 17:03

Sector movers: Miners, Big Oil weigh on FTSE 350

(Sharecast News) - Commodity related stocks were the chief drag on the FTSE 350 amid a combination of growth concerns and risk aversion.

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4 Jun 2024 17:01

London stocks log declines as losses in miners weigh

FTSE 100 down 0.4%, FTSE 250 falls 0.9%

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4 Jun 2024 16:53

LONDON MARKET CLOSE: Cooling US job market boosts rate cut hopes

(Alliance News) - Stock prices in London closed lower on Tuesday, with New York tracking down, amid some disappointing economic data from the US.

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4 Jun 2024 11:59

LONDON MARKET MIDDAY: BP and Shell take hit as oil prices retreat

(Alliance News) - Stock prices in London were lower at midday Tuesday, with oil majors BP and Shell dragging the index lower as oil prices took a hit.

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30 May 2024 20:55

Trinidad court recognizes ConocoPhillips' $1.3 bln claim against Venezuela

May 30 (Reuters) - A Trinidad and Tobago court order has granted ConocoPhillips the right to enforce a $1.33 billion claim against Venezuela for past expropriations, a decision that could complicate proposed offshore gas ventures between Trinidad and Venezuela.

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29 May 2024 21:16

BP, Trinidad's NGC receive US license for gas development with Venezuela

May 29 (Reuters) - British oil major BP and Trinidad and Tobago's state energy firm NGC have received a two-year license from the U.S. Treasury Department to negotiate and develop the Cocuina-Manakin gas fields with Venezuela, Trinidad's energy minister said on Wednesday.

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27 May 2024 11:00

BP, EOG Resources in talks to jointly develop Trinidad gas field

May 27 (Reuters) - Oil major BP and U.S. shale producer EOG Resources are in discussions to jointly develop a natural gas field off the coast of Trinidad and Tobago, the British company said.

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25 May 2024 17:56

South Africa's Central Energy Fund acquires Durban refinery land, assets

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23 May 2024 21:40

Republican-led states ask Supreme Court to quash Big Oil climate lawsuits

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22 May 2024 21:54

US lawmakers urge Justice Department to probe climate deception by Big Oil

May 22 (Reuters) - U.S. lawmakers behind a congressional probe of major oil companies on Wednesday called on the Justice Department to investigate whether the industry deceived the public about fossil fuels' impact on climate change.

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22 May 2024 02:00

British firms expecting hard time in China market, lobby group warns

BEIJING, May 22 (Reuters) - British firms expect doing business in China to become harder over the next five years, a British business lobby group said on Wednesday, as Beijing strives to halt a retreat in foreign funds from a market once seen as the engine of global growth.

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