Equities

BP.

GB0007980591

Oil & Gas Refining and Marketing

Market Closed - London S.E. Other stock markets 16:35:00 06/09/2024 BST			5-day change	1st Jan Change
405.70 ^GBX	-1.46%		-5.52%	-12.97%

09-06	Stocks decline as US nonfarms disappoint	AN
09-06	BP : JP Morgan maintains a Sell rating	ZD

BP gives go-ahead for sixth operated hub Kaskida in US Gulf of Mexico

August 01, 2024 at 11:58 am

(Alliance News) - BP PLC on Thursday announced a new platform in the US Gulf of Mexico aimed at unlocking billions of barrels of discovered resources in Gulf of Mexico Palogene.

The London-based oil major said Kaskida will be its sixth hub in the Gulf of Mexico, with a new floating production platform with a capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase.

BP anticipates production to start in 2029.

"By employing an industry-led design solution, Kaskida will be simpler to construct and simpler to operate, enhancing safety and delivering greater value for BP," said Andy Krieger, BP's senior vice president, Gulf of Mexico & Canada.

The company said the hub unlocks potential for the development of 10 billion barrels of discovered resources in place of Gulf of Mexico Palogene.

BP shares were 0.7% higher at 462.05 pence each in London on Thursday around midday.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
S&P GSCI BRENT CRUDE INDEX	604.77 PTS	-2.24%	-7.63%	-
BP PLC	405.70 GBX	-1.46%	-5.52%	85.42B
S&P GSCI CRUDE OIL INDEX	370.88 PTS	-2.39%	-7.99%	-
S&P GSCI PETROLEUM INDEX	249.06 PTS	-2.18%	-7.77%	-
S&P GSCI ENERGY INDEX	224.93 PTS	-2.05%	-7.21%	-
WTI	67.62 USD	-0.12%	-6.90%	-

Latest news about BP PLC

Stocks decline as US nonfarms disappoint	09-06	AN
BP : JP Morgan maintains a Sell rating	09-06	ZD
Stocks on the back foot ahead of nonfarm payrolls	09-05	AN
FTSE 100 remains red ahead of US data	09-04	AN
Stocks suffer as commodity sell-off gathers pace	09-03	AN
BP Says Dutch Refinery Hit by Regional Power Outage	09-03	MT
BP : JP Morgan reiterates its Sell rating	09-03	ZD
Exclusive-Egypt counts on foreign funds to buy gas as power crisis worsens	09-02	RE
Seismic work to begin at gas fields shared by Trinidad and Venezuela, min says	08-30	RE
FTSE 100 makes solid start to week; Bunzl shines	08-27	AN
FTSE 100 stays green as Bunzl bumps guidance	08-27	AN
Technip Energies Secures Design Contract for BP's H2Teesside Project	08-27	MT
Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate	08-26	RE
British Stocks Gain for Third Straight Day; Fed's Powell Signals Policy Easing	08-23	MT
BP to Buy 15% Stake in Chinese Sustainable Jet Fuel Company	08-23	MT
Sector Update: Energy Stocks Mostly Higher Pre-Bell Wednesday	08-21	MT
BP, Iraq Government Agree to Develop Kirkuk Oil Field on Profit-Sharing Model	08-20	MT
Oil price hurts FTSE and investors dial out of BT	08-20	AN
Pound rises amid talks of US interest rate cuts	08-20	AN
FTSE 100 takes hit as oil majors fall	08-20	AN
Copper miners, energy stocks pull FTSE 100 lower	08-20	RE
Senegal sets up commission to review oil and gas contracts	08-19	RE
Poland's Orlen Secures Crude Oil Supply from UK's BP	08-19	MT
BP Maintains Venture Global Needs No Extension to Start Commercial Production at New US LNG Plant	08-15	MT
BP tells regulators Venture Global does not need more time to move to commercial operations	08-14	RE

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Company Profile

BP p.l.c. is one of the world's leading oil groups. Net sales break down by activity as follows: - refining and distribution (76.1%): At the end of 2023, the group had 7 refineries (including 3 in the United States) and a network of 21,100 service stations (including 8,200 in the United States); - exploration and production of hydrocarbon (23.6%): oil (1,115,000 million barrels produced per day) and natural gas (196.6 million m3 produced per day); - other (0,3%). Net sales are distributed geographically as follows: the United States (28.8%) and other (71.2%).

Employees

87,800

Sector

Oil & Gas Refining and Marketing

Calendar

29/10/2024 - Q3 2024 Earnings Release

Related indices

STOXX Europe 600 Index (EUR) , FTSE 100

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