BP share price

2022 - 11 - 1

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Image courtesy of "The Guardian"

Bigger windfall tax demanded after BP's £7bn profits; UK house ... (The Guardian)

Calls grow for extended windfall tax after energy giant beats forecasts thanks to strong gas trading, and announces a new $2.5bn share buyback.

The share price decline reflects its lack of growth, dividend and profitability which have seen investors shift away from the stock. The performance was helped by “exceptional” profits from its gas trading and marketing business, the company said. Nearly every shares is up, as the City makes a strong start to November. On current form manufacturing is in no position to help prevent the broader UK economy from sliding into recession.” The tie-up will also help Lotte to expand its delivery business with Ocado’s robotic warehouse technology. As the economy tries to find its bearings after months of political crisis, manufacturing may already be in a recession with demand falling rapidly. Freight is a growing patch for Uber, and it has recently launched a new advertising division to capture users at every stage, from booking on the app to the car ride itself. Many businesses will have cash to invest, but with supply chain challenges, high energy costs, and labour shortages driving wage inflation, the current environment makes immediate investment decisions a challenging conundrum. New work intakes fell at the quickest pace since May 2020 as demand in domestic and export markets weakened. As well as providing long-term financial relief to households – especially those most in need – this would boost energy security, cut our gas reliance and help the UK meet legally binding climate targets.” Uber is, of course, not the first global empire built on a dodgy past that leaders would like to airbrush. “The case for a bigger, bolder windfall tax is now over-whelming.

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Image courtesy of "FXStreet"

BP share price slips back, as it announces another buyback (FXStreet)

With the BP share price sitting near its highest levels this year, today's Q3 numbers were always likely to be political catnip if they were anywhere.

Gold bulls remain cautious ahead of the all-important Fed decision on Wednesday. BP is also continuing to pay over $1.2bn a year in respect of the Gulf of Mexico oil spill. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. The US dollar stays heavy amid a better market mood, tracing the yields lower. The ISM Manufacturing PMI and September JOLTS Job Openings data will be featured in the US economic docket. US data awaited ahead of the Fed. For prices to come down significantly, global refining capacity would need to increase, and who would want to invest in that at a time when the global economy is pushing towards net zero. Gold price is holding onto the upswing from weekly lows ahead of the US ISM PMI. [Gold News](https://www.fxstreet.com/markets/commodities/metals/gold) [Will Cardano price nosedive to $0.373 due to the FOMC meeting?](https://www.fxstreet.com/cryptocurrencies/news/will-cardano-price-nosedive-to-0373-due-to-the-fomc-meeting-202211010732) The “energy profits levy” as it is known has been set at 25% until 2025 and puts BP and Shell effective UK tax rate at 65%. Its oil production and operations division returned $5.21bn in profits. 70.5% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

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Image courtesy of "Bloomberg"

BP Joins Big Oil Profit Bonanza With Further Share Buybacks (Bloomberg)

BP Plc posted its second-highest quarterly profit on record and announced a further $2.5 billion of share buybacks, capping a stellar period for Big Oil ...

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Image courtesy of "Reuters"

BP joins rivals with bumper $8.2 bln profit (Reuters)

BP more than doubled its third-quarter profit from a year earlier to $8.15 billion, lifted by strong natural gas trading, as it expanded its share buybacks ...

The company aims to reduce its oil and gas output by 40% by 2030. BP has committed to using 60% of its excess cashflow for shareholder returns. rivals Exxon Mobil and Chevron. BP made a profit of $3.3 billion a year earlier and a 14-year high profit of $8.45 billion in the second quarter of 2022. BP said it expected global gas prices to remain volatile in the forth quarter due to a lack of supply into Europe after Russia slashed its pipeline deliveries to the continent. Earning from the gas and low energy division more than doubled from the second quarter. Register for free to Reuters and know the full story [(SHEL.L)](https://www.reuters.com/companies/SHEL.L), Exxon Mobil [(XOM.N)](https://www.reuters.com/companies/XOM.N) and TotalEnergies [(TTEF.PA)](https://www.reuters.com/companies/TTEF.PA) which also [reported](/business/energy/wrapup-global-oil-giants-rake-massive-profits-third-quarter-2022-10-28/) bumper profits last week that sparked calls from politicians to hit the sector with new windfall taxes to help governments with soaring energy bills. [expects to pay](/business/energy/bp-sees-25-bln-uk-tax-bill-this-year-including-windfall-levy-2022-11-01/) around $2.5 billion in taxes for its British North Sea business this year, including $800 million in a windfall tax. Auchincloss would not comment on Biden's comment, but said BP is increasing the number of drilling rigs in the Gulf of Mexico and shale basins to boost output. Chief Executive Officer Bernard Looney is leading BP's pivot away from oil and gas to renewables and low-carbon energy in an effort to slash greenhouse gas emissions. LONDON, Nov 1 (Reuters) - BP more than doubled its third-quarter profit from a year earlier to $8.15 billion, lifted by strong natural gas trading, as it expanded its share buybacks by $2.5 billion amid rising calls to increase taxes on the energy sector.

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Image courtesy of "This is Money"

BP sees its quarterly profit more than double (This is Money)

Oil giant Shell saw its profit for the quarter surge to £7.1billion, or $8.2billion, against £2.9billion by the same point a year ago.

But, the London-listed oil giant still enjoyed its second highest quarterly profit on record. Between April to June, BP saw its profit surge to a 14-year high of $8.5billion, or around £7.4billion. Joshua Warner, a market analyst at City Index, said: 'Shareholders will be pleased that BP has announced a new $2.5billion share buyback and lowered net debt for the tenth consecutive quarter. Isa rules & T&Cs apply.](https://clk.omgt1.com/?AID=467418&PID=9933&UID=modules) [Investment ideasFree fund dealingFree fund dealing0.45% account fee capped for shares](https://hl.7eer.net/GAD9m) [Flat-fee investingNo fees£9.99 monthly feeOne free £7.99 trade per month](https://clk.tradedoubler.com/click?p=303136&a=2318056) [Social investingCommission-freeShare investing24+ million global community](https://med.etoro.com/B13544_A95827_TClick_SDIYMOD.aspx) [Model portfoliosInvestment accountFree fund dealingFree financial coaching](https://bestinvest.sjv.io/dorAaK) [Best savings rates tables](https://www.thisismoney.co.uk/save) [Find the best mortgage calculator](https://www.thisismoney.co.uk/mortgage-finder) [Power Portfolio investment tracker](https://www.thisismoney.co.uk/portfolio) [Stock market data and share prices](https://investing.thisismoney.co.uk/market-data) [This is Money's podcast](https://www.thisismoney.co.uk/podcast) [This is Money's newsletter](https://www.thisismoney.co.uk/newslettersignup) [The best DIY investing platforms](https://www.thisismoney.co.uk/platform) [The best bank accounts](https://www.thisismoney.co.uk/current-accounts) [The best cash Isas](https://www.thisismoney.co.uk/money/saving/article-1723571/Best-cash-Isa-rates-2019-best-deal.html) [The best credit cards](https://www.thisismoney.co.uk/best-cards) [Save on energy bills](https://www.thisismoney.co.uk/energy) [Compare broadband and TV deals](https://www.thisismoney.co.uk/broadband-finder) [How to find cheaper car insurance](https://www.thisismoney.co.uk/car-insurance) [Investing Show videos](https://www.thisismoney.co.uk/money/investingshow/index.html) [Financial calculators](https://www.thisismoney.co.uk/calculators) BP said profits in the latest quarter were weaker than the previous quarter due to a dip in oil prices. The profits total was lower than expected, as the group had been forecast to report net earnings of $10.5billion in the third quarter. 'For BP, an increase in the share price over the last year of 37 per cent compares to a dip of almost 3 per cent for the wider FTSE 100, providing a double whammy of heightened capital and income returns. The group also announced a further share buyback programme of $2.5billion, bringing the cumulative figure for the year to $8.5 billion. The company's profits for July to September were slightly lower than those reported by the group in the previous quarter. In the year to date, BP's global profits jumped to $22.8bn, or around £20billion, compared to $8.7bn, or about £7.5million, for the first nine months of 2021. The oil giant saw its profit for the quarter surge to £7.1billion, or $8.2billion, against £2.9billion by the same point a year ago. The London-listed company said it expected to pay $800million, or just under £700million, in UK windfall tax this year, after a levy was introduced by the government in May.

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Image courtesy of "IG"

BP shares hit recent high after Q3 earnings beat (IG)

(Video Transcript). BP Q3 results. Oil companies recently have had a really good ride, and it continues this morning as a result of numbers coming in for ...

It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. But I think in order to see further higher highs that we've really got to get over this idea that we're going to go into a deep recession and perhaps it might only just be a brushing recession and come out the other side sometime in the first or second quarter of next year. We are currently down half of 1%, but I think you can see on the right hand side of this chart here, we have peaked above recent trading and we have hit 33-month highs for the price of BP. We use a range of cookies to give you the best possible browsing experience.

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Image courtesy of "Motley Fool UK"

At a year high, can the BP share price keep rising? (Motley Fool UK)

As the BP share price continues its march higher, this Fool argues its shares still offer tremendous potential in the years ahead.

Several factors are likely to ensure that this remains the case for several years. One of the primary reasons why I invest in BP is for passive income. Until structural forces holding down supply are resolved, the medium-term outlook, in my view, remain rosy for BP. There is increased uncertainty about how demand for oil will hold up should the economy go into recession. The company remains committed to allocating 60% of free cash flow to share buybacks. Today, the macro set-up is totally different. However, as recession fears grow, is the party about to come to a spectacular end? With a smaller issued share capital, existing shareholders will end up owning a larger proportion of the company. [oil stocks](https://www.fool.co.uk/investing-basics/market-sectors/investing-in-oil-stocks-in-the-uk/) are in a class of their own. BP continues to use a significant portion of these profits to bring down its net debt. Year-to-date, the stock is up 45%. It’s all a far cry away from a couple of years ago when the oil price turned negative and it was sitting on heavy losses.

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Image courtesy of "Yahoo Finance UK"

Are BP shares the best buy for dividend investors? (Yahoo Finance UK)

BP (LSE: BP) shares are back at pre-pandemic levels, but the oil giant's dividend has not yet recovered. CEO Bernard Looney slashed BP's shareholder payout ...

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