BP ADR

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SKU: BP Category:

Description

BP’s results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street. They reported strong operational performance, with upstream plant reliability and refining availability at 96% year-to-date. Also, there was a 3% volume growth and a 6% decline in unit production costs. The transition growth engines are gaining momentum. In bioenergy, the Archaea Energy biogas business is scaling up, with the first modularly designed renewable natural gas plant in Medora, Indiana, now operational. BP is accelerating plans in EV charging, including a $100 million agreement with Tesla for ultrafast chargers in the US. In the UK, BP Pulse, in collaboration with partners, launched the largest public EV charging hub at the NEC campus in Birmingham. Convenience, too, has seen positive strides, with TravelCenters of America integrating seamlessly and an 8% year-on-year growth in convenience gross margin in the first 9 months of 2023. Additionally, strategic agreements in Poland with Auchan are expanding the network. In terms of strategic delivery, notable achievements include the Tangguh expansion project in Indonesia and the start-up of Bingo, the second major processing facility in the Permian. Regulatory approval for the Murlach project in the North Sea was also secured.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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