bp plc-spons adr (BP) Key Developments
BP Agrees to Supply Liquefied Natural Gas to Kansai Electric
May 29 15
Kansai Electric has signed an agreement to purchase up to 13 million tons of liquefied natural gas (LNG) from BP. Under the terms of the agreement, BP will supply the natural gas from its portfolio of LNG sources, to Kansai Electric for over 23 years. The two firms have also entered into cooperation agreement to jointly explore opportunities across LNG business, including trading, and optimization of LNG ship operations.
BP Mulls Acquisitions
May 27 15
BP p.l.c. (LSE:BP.) is seeking acquisitions. BP plans to open more than 20 new retail sites this year across Australia and New Zealand but Andy Holmes says he remains on the lookout for retail site acquisitions as well as new sites on which to spend the AUD 338 million capital allocated to the Australasian unit's retail business over the next three years.
BP and Sinopec Set Up Joint Venture Marine Bunkering Business
May 20 15
BP and Sinopec Fuel Oil announce the formation of a 50:50 marine fuels bunkering joint-venture, BP Sinopec Marine Fuels Pte Ltd. Based in Singapore, one of the larger and busiest ports in the world, the joint venture will build out from its partners existing bunkering locations and activities. In addition to marine bunkering in Singapore, the joint venture will provide marine bunker sales in key global locations. The ports served by BP Sinopec Marine Fuels Pte Ltd. will be: Singapore; Fujairah, United Arab Emirates; Antwerp, Belgium; Rotterdam and Amsterdam in the Netherlands; Tianjin, Qingdao, Shanghai, Ningbo and Shenzhen, China.
BP Plans To Sell Stake in Australian Oil Venture
May 19 15
BP p.l.c. (LSE:BP.) is planning to sell part of its oil project off southern Australia. BP is planning to reduce its stake to between 40%-50% from 70% and the sale process is due to start in the second half of 2015, Bryan Ritchie, Vice President of exploration for Asia Pacific of BP told reporters. “We’ve had a number of companies speaking to us, and hopefully some of the companies will see the potential we see,” Bryan Ritchie said, “There’s a big opportunity there.” The Sydney Morning Herald reported that the company plans to launch a 'farm out' process in order to bring in another partner.
BP p.l.c. Presents at Credit Suisse London Energy Conference, Jun-02-2015
May 16 15
BP p.l.c. Presents at Credit Suisse London Energy Conference, Jun-02-2015 . Venue: 20 Columbus Courtyard, Canary Wharf, London E14 4QJ, United Kingdom.