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282 stories mentioning BPUpdated 1d ago

Featured in energy-sector and European ADR roundups as oil prices swung around the US-Iran truce reopening the Strait of Hormuz.

Oil & Energy

Market Chatter: BP in Talks to Sell Lightsource to Kuwait-Backed Consortium

BP (BP) is in advanced talks to sell its solar power business, Lightsource, to a consortium comprising Kuwait Investment Authority-backed Wren House and green energy investor Qualitas Energy, the Financial Times reported on Friday, citing people familiar with the matter.The sale is reportedly part of BP's plan to cut debt and refocus on oil and gas after scaling back its renewable energy ambitions.The deal, which could see the buyers assume several billion dollars of Lightsource's debt, has not been finalized and could still fall through, the report said.BP, Qualitas and Wren House did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $43.88, Change: $-0.05, Percent Change: -0.11%

$BP
Sectors

Sector Update: Energy Stocks Decline Pre-Bell Friday

Energy stocks were declining pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.3% lower.The United States Oil Fund (USO) was down 1.7% and the United States Natural Gas Fund (UNG) was 1.9% higher.Front-month US West Texas Intermediate crude oil was 2.4% lower at $89.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 2.8% to $97.83 per barrel, and natural gas futures were up 1.3% at $2.95 per 1 million British Thermal Units.SLB (SLB) shares were up nearly 4% after the company reported Q2 adjusted earnings and revenue that topped analysts' estimates.BP (BP) is in advanced talks to sell its solar power arm Lightsource to a consortium comprising Qualitas Energy, a private equity firm focused on green energy, and Wren House, the infrastructure arm of the Kuwait Investment Authority, Reuters reported. BP stock was 0.3% lower premarket.Ocean Power Technologies (OPTT) stock was 2% lower after the company said it acquired strategic subsea developmental technology assets from Columbia Power Technologies.

$BP$OPTT$SLB$UNG$USO$XLE
Equities

Market Chatter: BP in Advanced Talks to Sell Lightsource to Kuwait-Backed Consortium

BP (BP) is in advanced talks to sell its solar power arm Lightsource to a consortium comprising Qualitas Energy, a private equity firm focused on green energy, and Wren House, the infrastructure arm of the Kuwait Investment Authority, Reuters reported Friday.Financial terms were not disclosed.The consortium is the final bidder and a deal is expected soon. However, the sale has not yet been confirmed and could fall through, Reuters reported, citing several people familiar with the matter.BP declined a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$BP
Asia Markets

European Equities Traded in the US as American Depositary Receipts Fall in Thursday Trading

European equities traded in the US as American depositary receipts were tracking lower late Thursday morning, falling 0.9% to 1,901.24 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company argenx (ARGX) and medical device maker EDAP TMS (FOCL), which rose 5.3% and 4.4% respectively. They were followed by petroleum refiner Equinor (EQNR) and oil and gas company Eni (E), which were up 3.7% and 2.1% respectively.The decliners from continental Europe were led by biopharmaceutical company Grifols (GRFS) and lender Banco Santander (SAN), which dropped 4.2% and 3.6% respectively. They were followed by brewing company Anheuser-Busch InBev (BUD) and accommodations booking site trivago (TRVG), which lost 3.1% and 2.9% respectively.The gainers from the UK were led by biopharmaceutical company Mereo BioPharma Group (MREO) and oil and gas company BP (BP), which advanced 2.8% and 2.3% respectively. They were followed by oil and gas company Shell (SHEL), which increased 1.6%.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and tobacco company British American Tobacco (BTI), which fell 5.4% and 3.3% respectively. They were followed by alcoholic beverage company Diageo (DEO) and educational publisher Pearson (PSO), which were down 2.4% and 0.4% respectively.

$ARGX$BP$BTI$BUD$DEO$E$EQNR$FOCL$GRFS$MREO$PSO$SAN$SHEL$TRIB$TRVG
Equities

BP Investors Urged to Pressure Company Over Labor Dispute

BP (BP) investors were urged by labor leaders to pressure the company's leadership over its lockout of 800 workers at its Whiting, Indiana refinery, several unions said Thursday.The United Steelworkers, AFL-CIO, and IndustriALL Global Union labor organizations said the dispute "reflects broader environmental, social and governance concerns with potential consequences for investors."The organizations said the unresolved labor dispute "has created unnecessary operational, financial and reputational risks at a time of continued volatility in global energy markets."BP did not immediately reply to' request for comment.

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Commodities

Union Asks Investors to Engage in BP Whiting Refinery Labor Dispute

A union coalition on Wednesday urged investors to engage BP's (BP) leadership over the company's decision to lock out about 800 workers at its Whiting Refinery in Indiana beginning March 19.The United Steelworkers, AFL-CIO, and IndustriAll Global Union also urged the company to end the lockout and initiate a fair agreement negotiation.BP locked out members of the USW Local 7-1 after workers rejected a proposal that, according to the union, would have "frozen wages, weakened safety protections, eliminated jobs, restructured job classifications, and dramatically undermined the role of the union at the facility."The company initiated the lockout despite the workers' willingness to continue working while in negotiations, the statement said.BP continues to operate the refinery despite the move, creating "unnecessary operational, financial and reputational risks at a time of continued volatility in global energy markets," the coalition said.BP did not immediately respond to' request for comment.

$BP
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The Philadelphia Oil Service Sector Index was climbing 1.4%, and the Dow Jones US Utilities Index was fractionally higher.In geopolitical news, President Donald Trump delivered a dim view of possible talks with Iran to end the war, telling reporters Tuesday that the US has "no interest in meeting" until Iran is ready to convene "in a meaningful way," the Associated Press reported.Separately, a desalination facility and power plants caught fire and suffered serious damage in Kuwait after new Iranian strikes targeted the crucial facilities, along with areas of Bahrain and Jordan, following the 10th consecutive night of US bombing, Al Jazeera reported Tuesday.Meanwhile, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.Front-month West Texas Intermediate crude oil climbed 2% to $84.91 a barrel, and the global benchmark Brent crude contract rose 2.3% to $91.25 a barrel. Henry Hub natural gas futures increased 0.9% to $2.89 per 1 million BTU.In corporate news, Fluor (FLR) said Tuesday it secured a contract from Gulf Petrochemical Industries to carry out the front-end engineering and design for a new aromatics facility in Bahrain. Fluor shares gained 3.6%.Shell (SHEL) resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported. Shell shares were up 1.1%.Shell, TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported. TotalEnergies shares climbed 2.9%, and BP added 1.3%Magnolia Oil & Gas (MGY) shares were down 2%. The company said late Monday it priced its underwritten public offering of 46.3 million class A shares at $23.75 per share.

$BP$FLR$MGY$SHEL$TTE
Sectors

Sector Update: Energy Stocks Higher Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.6%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was down 0.2%.In geopolitical news, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.Front-month West Texas Intermediate crude oil climbed 2.2% to $85.09 a barrel, and the global benchmark Brent crude contract rose 2% to $91.04 a barrel. Henry Hub natural gas futures increased 0.1% to $2.86 per 1 million BTU.In corporate news, Shell (SHEL) resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported. Shell shares were up nearly 1%.Shell, TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported. TotalEnergies shares climbed 3.3%, and BP added 1%Diamondback Energy (FANG) is expected to deliver a strong Q2, with total and oil production above the midpoint of guidance and cash flow per share projected to be 2% ahead of the Street estimate, UBS Securities said in a note. Diamondback shares climbed 1.8%.

$BP$FANG$SHEL$TTE
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.5%.The Philadelphia Oil Service Sector Index was climbing 1%, and the Dow Jones US Utilities Index was down 0.2%.In geopolitical news, the Houthi-run SABA news agency said six ships attempting to pass through the Bab el-Mandeb Strait in the southern Red Sea were forced to reroute on Tuesday after being warned by the rebels, a day after they announced a maritime embargo against Saudi Arabia, according to the Associated Press.Front-month West Texas Intermediate crude oil climbed 2.4% to $85.25 a barrel, and the global benchmark Brent crude contract rose 2.3% to $91.24 a barrel. Henry Hub natural gas futures increased 0.1% to $2.86 per 1 million BTU.In corporate news, Shell (SHEL), TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported. Shell shares were up 0.8%, TotalEnergies climbed 3.2%, and BP added 0.9%

$BP$SHEL$TTE
Wire

Update: Market Chatter: Egypt, Energy Companies in Talks on Long-Term LNG Supply Deal

(Updates with BP's response to a request for comment in the last paragraph.)Shell (SHEL), TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported Tuesday, citing three trading and industry sources familiar with the matter.The talks include Hartree Partners, two of the sources said, according to the report. Deals are yet to be finalized and may span up to five years, the report said.Shell and BP declined to comment, while TotalEnergies did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $86.95, Change: $+0.75, Percent Change: +0.87%

$BP$SHEL$TTE
Wire

Update: Market Chatter: Egypt, Energy Companies in Talks on Long-Term LNG Supply Deal

(Update with Shell's response to a request for comment in the last paragraph.)Shell (SHEL), TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported Tuesday, citing three trading and industry sources familiar with the matter.The talks include Hartree Partners, two of the sources said, according to the report. Deals are yet to be finalized and may span up to five years, the report said.Shell declined to comment, while TotalEnergies and BP did not immediately respond to requests for comments from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $87.05, Change: $+0.85, Percent Change: +0.99%

$BP$SHEL$TTE
Wire

Market Chatter: Egypt, Energy Companies in Talks on Long-Term LNG Supply Deal

Shell (SHEL), TotalEnergies (TTE) and BP (BP) are in negotiations to supply 15 to 18 cargoes of liquefied natural gas per month to Egypt for at least three years, Reuters reported Tuesday, citing three trading and industry sources familiar with the matter.The talks include Hartree Partners, two of the sources said, according to the report. Deals are yet to be finalized and may span up to five years, the report said.Shell, TotalEnergies and BP did not immediately respond to requests for comments from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $87.06, Change: $+0.86, Percent Change: +1.00%

$BP$SHEL$TTE
Oil & Energy

Market Chatter: Egypt Seeks Long-Term LNG Import Deals

Egypt is in talks with Shell (SHEL), TotalEnergies (TTE), BP (BP) and commodities trader Hartree to secure 15-18 liquefied natural gas cargoes per month under contracts lasting at least three years, Reuters reported on Tuesday, citing industry sources.The discussions reportedly come as Egypt seeks to offset declining domestic gas production and reduce reliance on volatile spot markets amid heightened geopolitical tensions.Reuters estimated the contracts could cost $8 billion-$11 billion annually. Egypt imported about 985 billion cubic feet of gas in the year ended June 2026 and expects imports to rise further this fiscal year as domestic production falls to an estimated 4.2 billion cubic feet per day.Egypt's petroleum ministry, Shell, TotalEnergies, BP and Hartree Partners did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)Price: $87.14, Change: $+0.94, Percent Change: +1.08%

$BP$SHEL$TTE
Wire

Correction: --Shell, TotalEnergies, BP in Talks With Egypt to Sell LNG Cargoes, Reuters Reports

Correction: --Shell, TotalEnergies, BP in Talks With Egypt to Sell LNG Cargoes, Reuters Reports

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Wire

Shell, TotalEnergies, BP in Talks With Egypt to Buy LNG Cargoes, Reuters Reports

Shell, TotalEnergies, BP in Talks With Egypt to Buy LNG Cargoes, Reuters Reports

$BP$SHEL$TTE
Commodities

BP to Sell Austrian Mobility, Convenience, EV Charging Businesses to Volenergy

British energy major BP (BP) has agreed to sell its Austrian mobility, convenience and electric vehicle charging businesses to Switzerland-based Volenergy, it said on Monday.The transaction will be in the form of a share sale with BP selling 100% of its shares in BP Retail Austria, subject to regulatory approvals, the company said in a statement.The deal includes BP's associated Austrian fleet business and its shares in three non-operated joint ventures Erdol-Lagergesellschaft, Autobahn-Betriebe Gesellschaft, and TLM Tanklager Management, Linz.It also includes 250 BP branded retail sites, with about 115 of those company-owned and franchise-operated, along with electric vehicle charging infrastructure.Terms of the deal were not disclosed.The transaction is projected to be completed at the end of the year, conditional upon fulfilment of regulatory conditions.Upon completion, a brand license agreement will let the Austrian retail sites operate under the BP brand, the statement said.

$BP
Commodities

US-Iran Tensions Lift Renewable Fuel Stocks, RD Margins to Five-Year Highs, TPH Energy Says

Renewed US-Iran tensions lifted renewable fuel stocks 7.1% last week as higher crude prices drove renewable diesel margins higher, TPH Energy said in a Monday note.The renewable fuels sector outperformed the S&P 500's 1.6% decline as rising crude prices boosted sentiment, the note said. OPAL Fuels (OPAL) jumped 22.2%, and Green Plains (GPRE) gained 13.9%, while Aemetis (AMTX) fell 1.9% and Montauk Renewables (MNTK) slipped 2.5%.Higher diesel prices pushed renewable diesel indicators up 37 cents per gallon despite softer D4 Renewable Identification Number credits, the note said. Renewable diesel-corn oil and renewable diesel-white grease margins reached fresh five-year highs.Meanwhile, renewable natural gas margins declined $1 per million British thermal units on weaker D3 Renewable Identification Number credits, while Midwest ethanol margins fell 2 cents per gallon as corn costs increased.US spot and 2026 soybean crush margins rose $10 per ton and $6/ton, respectively, on stronger soybean oil prices, extending the crush margin to another five-year high, the note said.In other developments, BP (BP) recorded a charge tied to its renewables business, Brazil increased its ethanol blend mandate to 32% from 30%, and Gevo doubled its 2026 earnings before interest, taxes, depreciation and amortization outlook to about $60 million, the note said.The note also said Viridi broke ground on a renewable natural gas project in Nebraska, Waste Management unveiled plans for another renewable natural gas project in Colorado, and Neste is scheduled to report second-quarter earnings on Friday.

$AMTX$BP$GPRE$MNTK$OPAL
Commodities

Refining Stocks Rally as US-Iran Conflict Drives Fuel Cracks Higher, TPH Energy Says

Renewed US-Iran tensions pushed refining stocks up 13.1% last week as diesel and gasoline crack spreads climbed to fresh five-year highs, TPH Energy said in a Monday note.Refining shares outperformed the S&P 500's 1.6% decline after the US resumed its blockade and struck an Iranian supertanker, TPH Energy said. PBF Energy (PBF) gained 18.0%, while Phillips 66 (PSX) rose 9.8%.US diesel crack spreads jumped $12 to $65 per barrel, far above the five-year average of about $23/bbl, while gasoline cracks added $2 to $41/bbl, exceeding the $18/bbl five-year average, the note said.The West Coast posted the greatest improvement among US refining regions, while the Midwest lagged. Meanwhile, the 2026 6-3-2-1 refining futures curve advanced $3 to $21/bbl, its highest level this year, according to the note.Outside the US, diesel crack spreads climbed $12/bbl in Northwest Europe and $15/bbl in Singapore, extending both markets to fresh five-year highs, the report said.Among other developments, the note said Argus expects Group II base oil margins to improve in July as feedstock costs ease, while Iran said 200 ships have requested Strait of Hormuz permits since June.BP (BP) lifted its second-quarter refining margin to $29.60/bbl from $16.90 in the prior quarter, while US retail diesel prices topped $5 per gallon and the strategic petroleum reserve fell to its lowest level since 1983, according to the note.

$BP$PBF$PSX
Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks rose late Monday afternoon, with the NYSE Energy Sector Index rising 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index lost 0.4%, and the Dow Jones US Utilities Index shed 0.6%.Crude oil prices turned higher amid threats to Saudi Arabian crude oil supplies. Iran said mediators have been in touch with proposals on how to ease hostilities with the US after nine days of clashes, while tensions remained high after a threat by the Tehran-backed Houthi group against Saudi Arabia, Bloomberg reported.Houthis in Yemen said Monday they were imposing a naval blockade on Saudi Arabia, Reuters reported. The full closure of the Bab el-Mandeb strait would reduce global oil supply by 7% as it would leave most of Saudi oil exports unable to leave the region, the report said. The disruption would add to the reduction in oil flows from the war, which has already cut shipments by 10% of global supply, it added.West Texas Intermediate crude oil rose 0.5% to $82.86 a barrel, and global benchmark Brent added 0.8% to $88.80 a barrel. Henry Hub natural gas futures fell 1.9% to $2.86 per 1 million BTU.In corporate news, Magnolia Oil & Gas (MGY) agreed to buy privately-held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia shares were down 5.6%.Fervo Energy (FRVO) shares gained 4% after Jefferies upgraded the stock to buy from hold while cutting its price target to $34 from $41.Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday. Shares rose 2.7%.BP (BP) said Monday it has agreed to sell its mobility, convenience and electric vehicle charging businesses in Austria to volenergy. Shares added 0.4%.

$BP$MGY$TBN
Sectors

Sector Update: Energy Stocks Rise Monday Afternoon

Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.1%.The Philadelphia Oil Service Sector Index was increasing 0.9%, and the Dow Jones US Utilities Index was shedding 0.5%.In geopolitical news, US Secretary of State Marco Rubio said Sunday night the US "remains open" to talks despite the weekend's violence, and an Iranian official said their side was similarly open to discussions, CNN reported. Iranian Interior Minister Eskandar Momeni is heading a high-level delegation to neighboring Pakistan at the invitation of his Pakistani counterpart, news reports said Monday. The trip comes after Iran's Foreign Ministry announced mediators continue to exchange proposals to get peace talks back on track after nearly two weeks of bombardment.Front-month West Texas Intermediate crude oil decreased 0.1% to $82.42 a barrel, and the global benchmark Brent crude contract rose 0.4% to $88.49 a barrel. Henry Hub natural gas futures fell 2.3% to $2.85 per 1 million BTU.In corporate news, Magnolia Oil & Gas (MGY) agreed to buy privately-held WildFire Energy in a roughly $4.06 billion deal, including debt, that will give it a dominant position in the Giddings field in South Texas. Magnolia shares were down 4.6%.Tamboran Resources (TBN) has completed stimulation, cleanout, and completion activities of the Shenandoah South 3H, 4H, and 5H shale gas wells in the Northern Pilot Area of the Beetaloo Basin in Australia, the company said Monday. Its shares climbed 1.5%.BP (BP) agreed to sell its BP Retail Austria unit, which houses its mobility, convenience, and electric vehicle charging businesses in the country, to Volenergy, according to a Monday statement. BP shares added 0.6%.

$BP$MGY$TBN

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