BP seeks to sell shut-down North Sea oilfield

  • BP ( BP ) is seeking buyers for Foinaven oilfield in the North Sea it had shut down last year after 25 years of operations, Reuters reports, hoping the U.K.'s renewed focus on domestic production will attract buyers interested in extracting the field's remaining reserves.
  • The field still holds reserves of ~200M barrels of oil which could be tapped in a relatively short time and with minimal investment, according to the report.
  • It is not clear how much BP could receive in a sale of Foinaven, given the clean-up costs that would need to be negotiated, but the company hopes the field can attract buyers amid the sharp rally in oil and gas prices and Europe's efforts to reduce its reliance on Russian energy.

    Over the current book year the total revenue will be 266.12 billion GBp (consensus estimates). This is rather significant more than 2021's revenue of 157.74 billion GBp.

    Historical revenues and results BP plus estimates 2021

    fundamantele data

    The analysts expect for 2022 a net profit of 17.49 billion GBp. According to most of the analysts the company will have a profit per share for this book year of 93 GBp. The price/earnings-ratio therefore equals 4.45.

    Huge dividend BP

    Per share the analysts expect a dividend of 23 GBp per share. The dividend yield is then 5.55 percent. The average dividend yield of the oil & gas producers equals an attractive 2.91 percent.

    Latest estimates around 463 GBp

    The most recent recommendations for the oil & gas producer are from HSBC , Deutsche Bank and Citigroup .

    BP 's market capitalization is based on the number of outstanding shares around 8393.59 billion GBp. 40

    At 15.55 the stock trades 1.09 percent higher at 414.25 GBp.

    Historical stock prices BP period 2010-2022

    stock bp

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