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    BP.   GB0007980591

BP PLC

(BP.)
  Report
Delayed Quote. Delayed London Stock Exchange - 06/15 11:38:25 am
332.7 GBX   +0.45%
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Refiners, offshore producers shut ahead of Hurricane Sally landfall

09/15/2020 | 01:02am EDT

HOUSTON, Sept 15 (Reuters) - More than one-fifth of U.S. offshore oil production was shut and key exporting ports were closed on Tuesday ahead of Hurricane Sally's landfall on the U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.

Sally was upgraded to a Category 2 hurricane on Monday and could strengthen further before making landfall late on Tuesday, the U.S. National Hurricane Center said. The storm's trajectory has shifted east toward southwestern Mississippi, however, sparing some of Louisiana's refining operations.

The U.S. government said 21%, or nearly 396,000 barrels per day (bpd), of offshore crude oil production and 25%, or 685 million cubic feet per day (mmcfd), of natural gas output were shut in the U.S. Gulf of Mexico.

The nation's sole offshore terminal, the Louisiana Offshore Oil Port (LOOP), stopped loading tanker ships on Sunday, while the port of New Orleans closed on Monday. That will cut off roughly 307,000 bpd of crude and 411,000 bpd of refined products, according to Kpler data.

As of 11 p.m. CDT on Monday, Sally was about 90 miles (145 km) east of the mouth of the Mississippi River, and winds were picking up, with sustained winds of up to 100 mph (155 kph).

Offshore facilities operated by Chevron Corp and BP Plc have been shut, less than one month after Hurricane Laura forced roughly 1.5 million barrels per day of output to close temporarily.

Refiners in the region have wound down operations. The Phillips 66 Alliance oil refinery, which processes 255,600 bpd at a site along the Mississippi River on the coast of Louisiana, shut on Monday, said operator Phillips 66.

Shell cut production to minimum rates on Monday at its 227,400-bpd Norco, Louisiana, refinery. (Reporting by Erwin Seba, Gary McWilliams in Houston and Devika Krishna Kumar in New York; Editing by Edwina Gibbs)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BP PLC 0.45% 332.7 Delayed Quote.30.57%
CHEVRON CORPORATION 2.16% 110.3 Delayed Quote.30.61%
LONDON BRENT OIL 0.24% 74.45 Delayed Quote.40.72%
PHILLIPS 66 0.72% 92.1 Delayed Quote.31.68%
S&P GSCI CRUDE OIL INDEX 1.92% 396.2511 Delayed Quote.45.57%
WTI 0.19% 72.552 Delayed Quote.47.25%
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Financials (USD)
Sales 2021 227 B - -
Net income 2021 9 801 M - -
Net Debt 2021 39 838 M - -
P/E ratio 2021 9,93x
Yield 2021 4,48%
Capitalization 94 416 M 94 480 M -
EV / Sales 2021 0,59x
EV / Sales 2022 0,55x
Nbr of Employees 63 600
Free-Float 93,9%
Chart BP PLC
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Technical analysis trends BP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 4,94 $
Last Close Price 4,68 $
Spread / Highest target 54,4%
Spread / Average Target 5,52%
Spread / Lowest Target -39,5%
EPS Revisions
Managers and Directors
NameTitle
Bernard Looney Chief Executive Officer & Director
Murray Auchincloss Chief Financial Officer & Director
Helge Lund Chairman
Gordon Young Birrell Executive Vice President-Production & Operations
Paula Rosput Reynolds Senior Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BP PLC30.57%94 480
EXXON MOBIL CORPORATION56.07%262 776
CHEVRON CORPORATION30.61%208 173
RELIANCE INDUSTRIES LTD13.08%194 777
CHINA PETROLEUM & CHEMICAL CORPORATION19.60%83 501
NESTE OYJ-6.36%51 589