The rationale is straightforward: U.S. integrated oil companies trade at a premium to their European rivals, and there also are fewer funds in the U.S. with environmental constraints.
BP PLC (LSE:BP.) shares only slightly outperformed sector rivals on Monday after the oil group named the successor to chair Helge Lund.
BP agrees to sell its U.S. wind business to LS Power after a competitive bid, targeting $3-$4 billion in 2025 divestments.
BP PLC (LSE:BP.) has agreed to sell its US onshore wind business, bp Wind Energy, to LS Power as part of its strategic plan to simplify and focus its operations.
Energy major BP said on Friday it had agreed to sell its U.S. onshore wind business, bp Wind Energy, to U.S.-based electricity transmission systems operator LS Power.
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BP and E's joint venture, Azule Energy, drills Gajajeira-01 well in Block 1/14 with gas reserves topping 1 Tcf and 100 million barrels of condensate.
In the most recent trading session, BP (BP) closed at $32.1, indicating a -1.65% shift from the previous trading day.
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BP expects Q2 production to top estimates, but lower oil prices may drag results by up to $800M despite stronger refining margins.
U.S.-listed shares of BP (BP) rose Friday after the energy giant predicted increased oil production and trading revenue in the current quarter, helping to offset lower fuel prices.
BP PLC (LSE:BP.) shares rose 2% in afternoon trading after the energy group indicated that its second-quarter numbers and outlook were less bleak than many had feared, despite continued underperformance.