BP Stock Recent News

BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report.

BP's emissions under its operational control and the use of its products rose to 33.6 million metric tons and 322 million metric tons of carbon dioxide equivalent respectively in 2024, it said in its annual report on Thursday.

Saudi Aramco is in the early stages of considering a potential bid for BP's lubricant business Castrol, according to a person with knowledge of the matter.

BP said on Wednesday it had detected low-rate subsea gas bubbles at a well in its Greater Tortue Ahmeyim (GTA) project, situated offshore between Mauritania and Senegal.

BP states that annual spending on oil and gas will rise by almost 20%, while the same on renewable energy businesses will be cut by more than $5 billion.

When investors try to gauge the market's sentiment for a group of stocks, they typically look at who has been buying into them lately with the hopes of understanding the reasoning behind these decisions. However, buying stock is not the only way large traders and market participants express their bullish views on a company's future.

Zacks.com users have recently been watching BP (BP) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.

BP PLC's (LSE:BP.) strategy update to investment more in oil & gas and less in renewables was largely in line with expectations for investment banking analysts, but they warned the company faces "execution risks" as it needs to hit the top end of targets to really impress markets.

BP's strategy reset focuses on increasing oil and gas production, reducing low-return green investments, and improving cost efficiency to enhance shareholder returns and reduce debt. The company plans to cut capital expenditures, target mid-teen ROI projects, and divest non-core assets like Castrol to strengthen its balance sheet. BP aims for 20% annual free cash flow growth through 2027, driven by new upstream projects and cost reductions.

BP mentions that the project involves a drilling schedule and the construction of new facilities, including gas expansion projects.