BP ADRCNV INTO 6 ORD USD0 25 SHS Financial Statements LSE:0HKP TradingView India

Back in mid-June, BP announced a 40.5% investment in an Australian solar, wind and hydrogen project called the Asian Renewable Energy Hub . The company is shifting towards renewable energy production and plans to cut emissions to net zero by 2050. BP plans to go on a major spending spree and build or acquire 50GW in renewable power generators by 2030 — a long way off the 1.9GW it had at the end of 2021. The results were impacted by weaker gas trading activity after an “exceptional” third quarter, higher refinery maintenance and lower oil and gas prices. Salt said BP expected further reforms in gas prices in India to unlock the potential for development of gas producing assets and there was already evidence of such reforms being possible through discussions with the government. Under the deal struck between the two companies, up to $1.8 billion of the total investment made by BP in RIL’s assets will be payable on future exploration success in those oil and gas blocks.

Despite income tax credit (tax rate 250% vs 20.7% in Q2FY21), reported PAT came at INR 143mn (-52.8% YoY) compared to our expectation of INR.159mn due to operationally weak performance. The government’s so-called “temporary targeted energy profits levy” will see UK oil and gas firms pay an extra 25% tax on top of the 40% headline rate that they already pay on their UK profits. In the wake of then-chancellor Rishi Sunak’s announcement, BP said it would review its investment plans in the North Sea, as well as its plans to invest £18bn into the UK economy by 2030. This threat appears to have been dropped following clarification of a “sunset clause” that would remove the levy at the end of 2025.

Since then, the UK government has imposed a windfall tax on the oil and gas sector’s higher-than-expected profits to help fund support for households that are struggling to pay their energy bills. The Asia business and the UK business contributed the bulk of the banks’ profits before tax, with Asia accounting for $2.8bn and the UK $1.2bn. Lending demand remained decent during Q1, but the bank warned that rising inflationary pressure, as well the prospect of further impairment provisions, may present risks to the outlook. The bank also warned that the impact of the Ukraine war and a weaker outlook in its China markets would mean that further stock buybacks were unlikely for now. Granules posted revenues of INR 8,883mn with 3.5% YoY growth, which was 5.2% above our estimate of INR 8,446mn.

As a result, the company announced it was laying off 9% of its staff. Equities trading was the biggest revenue faller in Q1, down 73% to $36m, while cryptocurrency revenue fell 39% to $54m. Although losses are expected to narrow in Q2 to $0.23 a share, the outlook is set to remain bleak. The company appears to be doubling down on its crypto business, but the recent declines in bitcoin and other cryptos are likely to present challenges. As part of BP’s exit from Russia, the company wrote down $29bn in late February as it divested its stake in Russian oil giant Rosneft.

Putting the write-down to one side, the business performed well as underlying profits rose to $6.25bn, up from $2.63bn a year ago. Oil and gas production and operations accounted for $4.68bn of the total, beating expectations for $4.5bn. The company’s earnings report comes as BP aims to cement itself as a key player in the global clean energy shift.

We expect the companies under our chemicals coverage to report strong revenue growth (25.9% YoY) mainly led by restoration of demand in end-user industries, base effect and higher realization . We expect double-digit volume growth for most companies under our universe. Increased freight costs due to severe disruptions on supply routes continued to impact imports, resulting in a surge in selective chemical prices in the domestic market. The growth trajectory from the export market looks promising with the commissioning of new capacity for selective players.

Tuesday – BP half-year results

BP shares rose over 5.7% on the back of this strong set of results released on 3 May. Looney took the helm three years ago with an ambitious plan to pivot BP away from oil and gas towards renewables and low-carbon energy in an effort to slash greenhouse gas emissions. The contents herein shall not be considered as an invitation or persuasion to trade or invest.

• However, the management is confident of improving the margin profile from the current level (guided 16-20%) on the back of demand recovery in end-user industries and new product launches in the high margin category.
• The revenue growth was mainly driven by strong volume recovery in key products as higher off-take from MNC customers.
• The Bank’s previous governor, Mark Carney, was likened to an “unreliable boyfriend” by MPs after issuing mixed signals over possible interest rate rises.

The latest earnings per share, revenues and financial reports for BP PLC . Transfer funds between your bank account and trading account with ease. The best stock screening, equity research and company analysis tool built by a passionate team of investors at Finology®.

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The business received a boost in May when it was reported that Sam Bankman-Fried, founder of crypto exchange FTX, had taken a 7.6% stake in the business. While this move prompted takeover speculation, a bid is unlikely to be forthcoming because of Robinhood’s share structure. The holiday lettings company had a decent start to the year as Q1 revenue came in at $1.51bn, beating expectations.

As of 29 July, the BP share price has risen 41.5% in the last 12 months and 23.5% so far in 2022 as the world grapples with higher energy prices. In comparison, the FTSE 100 has seen a 1% decline year-to-date and only a 4.8% rise in the last 12 months. Find the release date, period end, EPS data and the revenue of BP for the selected range of dates. The data can be viewed in annually or quarterly time intervals and it can be shared or downloaded.

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While appearing confident in the outlook, Arons must be aware that the business still carries debts of over $5.5bn. It might perhaps be prudent to stabilise the balance sheet before expanding or diversifying. Revenue from admissions accounted for $443.8m of total revenue as the cinema chain saw over 39m people come through its doors.

Unemployment is currently at 50-year lows of 3.9%, while vacancies are at record highs. With Q2 CPI rising from 5.1% to 6.3% the RBA is likely to raise rates by at least half a point on Tuesday, as the strength of the US dollar is pushing an inflation wave its way. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

BP profit soars to record $28 billion, dividend increased

Unemployment was steady at 3.6%, while wage growth also remained stable at 5.1% compared to the upwardly revised May figure of 5.3%. However, the labour force participation rate unexpectedly dipped to 62.2%. With job vacancies at record levels, participation ought to be increasing. The company said it will increase its focus on low-carbon bioenergy and also set a target to produce 0.5 million-0.7 million tonnes a year of low or zero-carbon hydrogen to initially supply its own refineries. Honest taxpayers need to be commended while those abusing the system should face action, finance minister Nirmala Sitharaman said at The Economic Times Awards for Corporate Excellence 2022.

Oil and gas majors like BP and Shell have seen their profits surge this year on higher prices for fossil fuels following the pandemic and Russia’s invasion of Ukraine. This has brought a significant benefit to BP, which has experienced various challenges since the Gulf of Mexico oil spill in 2010. While the write-down was a one-off charge, exiting its profitable Rosneft holding has had some longer-term impacts on underlying earnings.

Ahead of BP’s Q2 earnings results announcement on 2 August, shares in the oil major have been outperforming the broader market as rising energy prices lift investor sentiment. The company’s upcoming earnings release will come off the back of a series of record-breaking profits among oil and gas stocks. BP’s shares have traded sideways since it reported its Q1 numbers back in May, although they did touch two-year highs in June as oil prices spiked.

must have expertise for your funding banking beat was mainly driven by new product launches and increased market share for existing products in the finished dosages segment. During Q2, FDs grew by 18% , PFIs grew by 10% , and API sales dropped by 25% . Gross margin contracted by 706bps on account of increase in KSM prices (mainly PAP and Acetic acid prices are up by 100%150%) and loss of MEIS benefit. However, EBITDA Margin witnessed a higher impact (decline of 1286bps to 17% in Q2FY22 ) due to lower profitability in Para products and higher logistic cost and R&D expenses (5.3% vs 2.6% in Q2FY21). The management expects to pass on some of the increases to their customers from Q3FY22 onwards.

GIL reported a PAT of INR 807mn, which was below our estimate of INR 1237mn driven by weak operational performance. The BP share price has outperformed the market ahead of the company’s Q2 results announcement on 2 August. Boosting investor sentiment is soaring global energy prices and the fact that its rival oil majors posted record earnings last week. Sequent Scientific has posted revenue of INR 3,506mn with a 1.2% YoY increase, which was 13% above our estimate of INR 3,102mn. The revenue beat was mainly driven by higher than expected growth in formulation business; However, API business de-grew by 10.4% due to lower offtake of Albendazole . The formulation business grew by 6.1% , led by strong performance in LATAM (+34.5% YoY) and Europe (+10.3%).

The https://1investing.in/ said it will increase its focus on low-carbon bioenergy and also set a target to produce 0.5 million-0.7 million tons a year of low or zero-carbon hydrogen to initially supply its own refineries. As a result of “market access and other benefits arising out of the business combination”, BP also recognized an increase of $854 million in the “goodwill arising on acquisition.” Rolls-Royce shares hit an 18-month low ahead of the Q1 numbers back in May, but have performed much better since then, albeit in a fairly confined range. The various problems with the resumption of civilian air travel have meant that this year’s anticipated revenue rebound has been slow to materialise. Nonetheless long-term flying hours in Q1 were 42% higher than for the same period last year, although that’s quite a low bar. Shares in HSBC are up more than 8% year to date, outperforming its three major peers in the UK banking sector – Barclays, Lloyds and NatWest.

Hindustan Unilever reported a 10% rise in profit and an 11% growth in sales in the March quarter, saying the rural slowdown is bottoming out but price reductions to boost demand can only happen once inflation slows further. BP said it will increase spending on its oil and gas business by $1 billion a year, or up to a cumulative $8 billion by 2030. BP’s announcement of a record profit follows similar reports from rivals Shell, Exxon Mobil and Chevron last week.

This outperformance has been all the more surprising given HSBC’s exposure to the Chinese economy, which has been badly affected by intermittent lockdowns this year. The jobs report for July is expected to show that 250,000 non-farm jobs were added. However, that headline number is of lesser importance than wage growth at the moment, which is expected to remain steady at around 5%.

The stock is trading at a current P/E ratio of 0and the average historical P/E for the last 5 years was 0. BP’s capital expenditure touched $7.369 billion in the fourth quarter and $16.33 billion in 2022. BP, in a strategy update, said it now aims to produce 2 million barrels of oil equivalent per day by 2030, down 25 percent from 2019 levels, but less ambitious than previous plans to cut output by 40 percent over the period. Download The Mint News App to get Daily Market Updates & Live Business News. This, according to the Edelweiss report, was a positive for RIL as an increase in the fair value of this future payment “indicates higher probability of exploration success”. In November, BP and RIL formed an equal joint venture called India Gas Solutions Pvt.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Aside from the Russian-related woes, BP provided a very strong set of results for the first three months of the year. The group was able to expand its share buyback programme to $2.5bn after already completing $1.6bn in buybacks at the beginning of the year. Alongside this, net debt was brought down to $27.5bn from $30.6bn at the end of 2021.

Meanwhile, oil and gas prices have rocketed, partly because of uncertainty about supplies from Russia amid its invasion of Ukraine, contributing to a cost-of-living crisis. The penetration of the mutual fund industry in India is close to 7% . This under penetration of the mutual fund industry offers a huge opportunity for the industry to grow. BP’s December quarter earnings statement last week said the $785 million adjustment and a few others “reflected new information obtained, including further understanding of the acquired assets and potential development options.”

The last US jobs report provided evidence that the country’s labour market could be weakening. The report showed that the world’s largest economy added only 372,000 non-farm payrolls in June, the weakest number this year, but still higher than economists’ estimates of 265,000. The Bank’s previous governor, Mark Carney, was likened to an “unreliable boyfriend” by MPs after issuing mixed signals over possible interest rate rises. Things have hardly improved under Carney’s successor Andrew Bailey, who himself has drawn the ire of senior politicians in recent months. In fairness, the Bank of England, like all central banks, faces a thankless task in these difficult times.

• Oil and gas majors like BP and Shell have seen their profits surge this year on higher prices for fossil fuels following the pandemic and Russia’s invasion of Ukraine.
• Disclaimer Past performance is not a reliable indicator of future results.
• Unemployment was steady at 3.6%, while wage growth also remained stable at 5.1% compared to the upwardly revised May figure of 5.3%.

Bosses have shortlisted six potential sites for a factory to build the reactors. Meanwhile, Russia’s invasion of Ukraine has given a lift to Rolls-Royce’s defence business. Moderna posted an impressive set of numbers in Q1, with revenue coming in at $6.07bn, well above expectations of $4.71bn. The company maintained its full-year guidance of $21bn in vaccine sales, although CFO David Meline cited uncertainty over sales in the second half of the year as the company looks to adapt its vaccine to new variants. During Q2 it was reported that Moderna had agreed a £1bn deal with the UK government to build a new vaccine manufacturing centre, the location of which is yet to be decided.