BP Stock Recent News

Britain's government is reportedly gearing up to unveil £22 billion worth of backing for the carbon capture and storage sector on Friday. Two so-called carbon capture clusters will be granted funding by the government under the plan, according to the Financial Times.

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Wellvii Inc., creators of the FDA-cleared blood pressure from the finger that replaces the traditional NIBP arm cuff, today announced a strategic partnership with B-Secur, a leader in advanced biosensing technology. This collaboration brings B-Secur's cutting-edge single-lead ECG into Wellvii's BP Go, revolutionizing the at-home blood pressure and heart health monitoring market. The BP Go Rhythm BP/ECG device will offer more convenience, comfort, and p.

BG completes the sale of its 50% interest in the sugar and bioenergy joint venture to its partner, BP, as it was not core to its long-term strategy.

BP has a market cap over $80 billion, strong EBITDA, and a nearly 6% dividend yield, showcasing robust shareholder returns. The company plans to grow EBITDA by 6% with new projects and LNG expansion, supported by manageable debt and double-digit FCF yield. BP's Gulf of Mexico operations highlight its impressive reserves and production capabilities, with significant investments in growth projects like Kaskida FID.

BP is undervalued compared to its peers, trading at less than 8 times 2024 earnings with a 5.7% dividend yield. BP's strong cash position, share buybacks, and dividend increases make it an attractive investment for income and capital appreciation. Economic growth and lower interest rates are expected to boost energy demand, benefiting BP's profitability and market position.

With the stock down 7% so far this year, at the current price of around $32 per share, we believe BP plc stock (NYSE: BP), a European integrated energy major, could go higher in the long term. BP's underlying replacement cost profit (used as a proxy for net profit) was up 4% year-over-year (y-o-y) to $2.8 billion in Q2 2024.

BP seeks to expand its footprint in India, focusing on its partnership with Reliance and leveraging its expertise to support the country's energy transition and sustainability goals.

Global energy major BP said on Wednesday it is holding a board meeting in India this week, as it scouts for more opportunities in the country.

BP (BP) reachead $32.83 at the closing of the latest trading day, reflecting a -0.09% change compared to its last close.

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