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407 stories mentioning BPUpdated 17h ago

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

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Commodities

Petrobras Makes New Hydrocarbon Discovery in Campos Basin

Brazil's state-run energy firm Petrobras (PBR) said on Monday it had discovered hydrocarbons in the pre-salt layer of the Campos Basin.The discovery was made in an exploratory well drilled in Block CM-477, about 201 kilometers offshore Rio de Janeiro, at a water depth of nearly 3,000 meters.The well, identified as 1-BRSA-1404DC-RJS, confirmed the presence of hydrocarbons through electrical logs, gas shows, and fluid sampling, the energy firm said in a statement.Petrobras said further laboratory analysis of the collected samples will determine the characteristics of the reservoirs and fluids, helping the company assess the commercial viability of the find.The company operates block CM-477 with a 70% stake, alongside BP (BP), which holds the remaining 30%.The block was awarded under Brazil's 16th bidding round, organized by the National Agency of Petroleum, Natural Gas and Biofuels under a concession regime.Petrobras said the discovery aligns with its strategy to replenish oil and gas reserves through exploration in frontier areas, while ensuring energy supply during the broader energy transition.Price: $46.80, Change: $+0.36, Percent Change: +0.76%

$BP$PBR
Commodities

TotalEnergies, TPAO Sign MOU to Explore Black Sea

TotalEnergies (TTE) has signed a memorandum of understanding with Turkey Petrolleri Anonim Ortakligi to pursue joint exploration opportunities in the Black Sea, the companies said on Monday.The pact establishes a framework for technical cooperation between the two firms, including a joint assessment of exploration prospects in the Black Sea and potential international projects."We are pleased to launch this cooperation with TPAO, leveraging the technical expertise of both companies to evaluate exploration opportunities in the Black Sea region and internationally on a mutually beneficial basis," said Nicola Mavilla, senior vice-president for exploration at TotalEnergies.TPAO signed an agreement with Shell (SHEL) in February to jointly explore for oil and natural gas in Bulgaria's offshore Black Sea waters.Since the beginning of the year, the Turkish state energy firm has signed energy cooperation agreements with ExxonMobil (XOM), Chevron (CVX) and BP (BP) for possible exploration work in the Black Sea and the Mediterranean.Price: $93.13, Change: $+0.48, Percent Change: +0.52%

$BP$SHEL$TTE$XOM
Sectors

Sector Update: Energy Stocks Rise Premarket Monday

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 6.7% and The United States Natural Gas Fund (UNG) was 1.6% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.8% to $101.68 per barrel, and natural gas futures were up 2% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.8% pre-bell.Baker Hughes (BKR) shares were up more than 1% after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.EQT (EQT) and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg News reported, citing people with knowledge of the matter. EQT stock was up more than 1% premarket.

$BKR$BP$EQT$KKR$UNG$USO$XLE
Sectors

Sector Update: Energy

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 7% and the United States Natural Gas Fund (UNG) was 1.9% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.9% to $101.85 per barrel, and natural gas futures were up 1.9% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.9% pre-bell.

$BP
Oil & Energy

BP to Acquire Interest in 3 Namibian Offshore Blocks

Oil major BP (BP) said Monday it will acquire Eco Atlantic Oil & Gas's 60% interest in three offshore exploration blocks in Namibia for an undisclosed amount.Once the transaction is finalized and approved by the authorities, BP will be the operator of PEL97, PEL99, and PEL 100 offshore blocks in Walvis Basin, with Eco Atlantic and National Petroleum Corp. of Namibia serving as partners.This agreement marks BP's entry into the country as an operator, following hydrocarbon discoveries in the region through BP-Eni joint venture Azule Energy, the company said.BP's recent exploration discoveries in Namibia include Volans-1X and Capricornus-1X in the Orange Basin.The company's exploration portfolio has recently expanded with 12 discoveries in 2025 and another two so far this year.

$BP
Equities

BP's Namibia Unit to Acquire 60% Stake in Eco Atlantic Namibian Licenses

BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said Monday.The arrangement provides a $2.7 million initial cash payment upon closing and requires BP to fully fund the remaining 25% stake held by Eco Atlantic during the current exploration period, the company said.The BP unit will also cover the proportional exploration costs for the state-owned oil firm and local partners during this initial development phase, Eco Atlantic said.The proposed work program involves finalizing seismic data reprocessing for one license and executing a new three-dimensional seismic survey across the other two blocks, the company added.The company also said if the joint venture enters the second renewal period in 2028, Eco Atlantic can transfer an additional 10% interest in exchange for up to $63 million in carried drilling costs.

$BP
Asia Markets

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

European equities traded in the US as American depositary receipts were tracking lower late Thursday morning, declining 0.48% to 1,803.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and pharmaceutical company Ascendis Pharma (ASND), which advanced 4% and 3.1% respectively. They were followed by oil and gas company Eni (E) and telecommunications company Nokia (NOK), which increased 3% and 0.3% respectively.The decliners from continental Europe were led by biopharmaceutical company Grifols (GRFS) and software firm SAP (SAP), which dropped 4.4% and 3.8% respectively. They were followed by internet browser company Opera (OPRA) and biopharmaceutical company Cellectis (CLLS), which lost 3% and 2.5% respectively.The gainers from the UK were led by biopharmaceutical company NuCana (NCNA) and oil and gas company BP (BP), which rose 5.5% and 2.2% respectively. They were followed by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Amarin (AMRN), which were up 1.8% and 0.5% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and pharmaceutical company Silence Therapeutics (SLN), which fell 12% and 4.3% respectively. They were followed by communications company WPP (WPP) and cruise line operator Carnival (CUK), which were down 3.7% and 3.3% respectively.

$AMRN$ASND$BDRX$BP$CLLS$CUK$E$EVAX$GRFS$NCNA$NOK$OPRA$SAP$SLN$TRIB$WPP

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