42.16 +0.30 (0.72%)
Pre-Market: 8:08AM EDT
|Bid||42.23 x 4000|
|Ask||42.32 x 800|
|Day's Range||41.83 - 42.25|
|52 Week Range||36.28 - 47.25|
|Beta (3Y Monthly)||0.56|
|PE Ratio (TTM)||14.30|
|Forward Dividend & Yield||2.46 (5.88%)|
|1y Target Est||50.08|
BP’s (BP) has the highest percentage of debt in its capital structure. In the first quarter, BP’s total debt-to-capital ratio stood at 43%, the highest among its peers. ExxonMobil (XOM) and Chevron (CVX) had lower ratios of 17% and 18%, respectively.
As the fate of crude exploration and production companies is positively correlated with the commodity price, the recent oil rally therefore perks up the crude weighted-stocks.
ExxonMobil (XOM) has the lowest percentage of debt in its capital structure compared to its peers. In the first quarter, ExxonMobil’s total debt-to-capital ratio stood at 17%.
Let's evaluate six global integrated energy companies based on their debt and cash flow positions. We'll start by ranking them on their total debt-to-total capital ratios in the first quarter of 2019.
Norway's $1 trillion sovereign wealth fund maintained that the decision was prompted by financial considerations and is not an ethical drive.
The S&P 500 hit a new record-high on Thursday as investors??? appetite for risky assets like equities were bolstered by the Fed???s indication that a rate cut was likely this year.
A BP drilling rig reached its destination in the North Sea on Wednesday after 11 days of delays due to Greenpeace protests over climate change, the activist group said. The 40,000 tonne Paul Loyd JNR left Cromarty Firth, north of Inverness, Scotland last Friday, after being held for six days by activists who had climbed and camped out on one of its legs. Once at sea, the rig and its support vessels were forced to turn away three times after Greenpeace's Arctic Sunrise ship prevented it from reaching the Vorlich oilfield to start its drilling campaign.
BP (BP) stock has fallen 0.7% in the past month since May 13. Total (TOT) and Suncor Energy (SU) stock have fallen by 0.8% and 2.9%, respectively.
America consumed 2.5% more crude in 2018 than in 2017, and you might be surprised where that extra oil wound up.
Senegalese riot police fired tear gas and detained more than 20 people on Friday at an unsanctioned protest in Dakar over a BBC report of allegations the president's brother was involved in fraud related to two offshore gas blocks developed by BP PLC. Prosecutors have said they will open an investigation following the publication of the BBC report earlier in June. The report has caused public outcry and cast a shadow over Senegal's energy plans years before the first oil and gas starts flowing.
Greenpeace activists climbed back on a drilling rig on Friday to keep it from heading to a BP oilfield in the British North Sea, hours after police removed protesters who had boarded the vessel days earlier. On Thursday night police removed and arrested two Greenpeace activists who had spent over 70 hours blocking the rig from leaving Cromarty Firth, north of Inverness, Scotland, Greenpeace said in a statement. "We can’t give up and let oil giants carry on with business as usual because that means giving up on a habitable planet and our kids’ future," said Greenpeace UK’s executive director, John Sauven.
The BHP assets burn or vent just over 15% of the gas they produce, the second most in the Permian, according to Rystad Energy, an Oslo-based consultant. For BP to attain its self-stated goal of reducing flaring globally, the company may be forced to put some drilling on hold while it waits for more pipelines to be built, according to Artem Abramov, head of shale research at Rystad.
BP’s chief economist sees extreme weather as one of the reasons that global energy demand and emissions are growing at growing at a fast pace
(Bloomberg Opinion) -- Oil has a demand problem. You can see it, most obviously, in headline crude oil prices, which slumped again Wednesday morning. You can see it in Asian refining margins and physical premia. You can see it in Saudi Arabia’s efforts to maintain supply cuts, rapidly turning into an oily version of Dylan’s Never Ending Tour.You can also see it in some historical figures in BP Plc’s Statistical Review of World Energy, the annual data bible that dropped on Tuesday. Looking at numbers for 2018 and prior years might seem superfluous to judging what’s happening in 2019. Moreover, the headline growth figure for 2018 of 1.4 million barrels a day, or 1.5%, is pretty robust. Its fragility lies beneath.BP breaks out figures for almost 80 individual countries, but only three really counted last year:That just three countries can pull global demand along may seem comforting to oil bulls. But it’s a narrow group to rely on, especially when two members are engaged in a trade war. Manufacturing indicators have weakened for all three in recent months, and vehicle sales have been particularly bad in India and China. Meanwhile, the U.S., which reports the most timely and transparent data on oil flows, reported another increase in inventories Wednesday – and that follows an extraordinary build-up in stocks of crude and refined products in May.In light of all that, it should worry oil bulls that demand growth across the rest of the world altogether vanished in 2018 – especially as global economic growth is forecast to be slower this year, partly because of that trade war, and the tailwind of exceptionally low fuel prices that prevailed in 2016 and much of 2017 is behind us.The other important aspect revealed in the Statistical Review concerns the types of oil being consumed. BP highlighted the increased importance of lighter liquids such as naphtha and ethane related to petrochemicals in the overall mix. You can see this in the chart below, where “other light distillates” and “other” liquids accounted for 54% of net growth in demand last year. Notice, too, what happened to gasoline and diesel.Naphtha prices have weakened considerably in Asia, along with gasoline. This is partly a function of Chinese refiners staying busy and taking advantage of looser export controls to dump excess products elsewhere in the region (something energy economist Philip Verleger has highlighted in several recent reports centered on the collapse in Singapore refining margins). Naphtha competes with natural gas liquids, and supply of the latter has also surged, largely as a by-product of the shale boom. The U.S., accounting for almost 40% of production, is the OPEC of natural gas liquids – apart from the crucial distinction that it shows no inclination to cut supply despite prices having slumped to their lowest level in more than two years:The thing about excess supply, though, is that it also suggests deficient demand. Coming amid weaker economic data, reliance on petrochemical demand represents a big risk for oil markets this year. It’s worth looking again at the BP data, which show that output from refineries actually increased by less than a million barrels a day in 2018, which also reflects the rising share of lighter liquids. Crude oil demand is ultimately a function of what refiners want to buy and process – they’re the direct customers, not you and me.As I wrote here, after a relatively weak first half, oil bulls’ hopes for 2019 rest largely on the usual seasonal upswing in refining runs in the third quarter. Yet the economic, inventory, and ultimately pricing indicators put that at risk. The International Energy Agency has been slow to cut demand forecasts, finally trimming them last month by a mere 90,000 barrels a day to 1.3 million a day. The IEA will update those later this week, and it will be surprising indeed if another cut isn’t forthcoming. After all, we now know the warning signs have been there since at least last year.To contact the author of this story: Liam Denning at email@example.comTo contact the editor responsible for this story: Mark Gongloff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.