Quarterly reported upstream production is expected to range from 2.17 million to 2.22 million barrels of oil equivalent a day, compared with 2.34 million barrels of oil equivalent a day in the first quarter.
BP (BP) reached $38.55 at the closing of the latest trading day, reflecting a -1.68% change compared to its last close.
BP CEO Meg O'Neill said on Thursday the British energy major needs to prioritise financial discipline by simplifying its portfolio, cutting costs and tightening capital spending, as the company refocuses on its core oil and gas investments.
BP (BP) closed at $39.21 in the latest trading session, marking a +1.55% move from the prior day.
BP PLC (LSE:BP.) and other oil producers led gains in London on Wednesday morning after crude prices climbed to a two-week high following fresh US military strikes on targets in Iran that renewed concerns over energy supplies through the Strait of Hormuz.
BP has agreed to sell its stake in the Bay du Nord offshore oil project in Canada to partner Equinor as the British energy major sharpens its focus on higher-return opportunities.
Jefferies has cut its price target for BP PLC (LSE:BP.) by 20% as new chief executive Meg O'Neill approaches her first 100 days in the top job with a simplified management structure already in motion.
BP (BP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
In the latest trading session, BP (BP) closed at $36.95, marking a -1.07% move from the previous day.
BP accelerates debt reduction through asset sales, cost savings and capital discipline to strengthen its balance sheet by 2027.
Solid oil prices, a stable integrated business model and robust midstream operations make the Zacks Oil and Gas Integrated International industry's outlook bright. XOM, CVX and BP will make the most of the handsome business scenario.
BP said its deputy chief executive, Carol Howle, plans to retire later this year, leaving new boss Meg O'Neill without a key lieutenant at a time when the energy major has been hit by management turmoil.