<form id="lwufo"><acronym id="lwufo"></acronym></form>
          Log in
          E-mail
          Password
          Remember
          Forgot password ?
          Become a member for free
          Sign up
          Sign up
          New member
          Sign up for FREE
          New customer
          Discover our services
          Settings
          Settings
          Dynamic quotes 
          OFFON

          MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BP plc    BP.   GB0007980591

          BP PLC

          (BP.)
            Report
          SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
          News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

          Rosneft incurs $2.1 billion first quarter loss, sees 10% oil output cuts in 2020

          share with twitter share with LinkedIn share with facebook
          05/15/2020 | 11:32am EDT
          A view shows a helmet with the logo of Rosneft company in Vung Tau

          By Vladimir Soldatkin and Olesya Astakhova

          Russia's largest oil producer, Rosneft, said on Friday it expects a 10% decline in 2020 oil output, after reporting a first-quarter net loss of 156 billion roubles (1.74 billion pounds) due to the impact of the coronavirus and a weaker rouble.

          Rosneft, which accounts for around 40% of Russia's total oil extraction, also said it cut its oil and gas condensate production in the first three months of the year by 2.2% from the year-earlier period to 4.64 million barrels per day (bpd) due to a global pact to curb output.

          The global oil industry has been hit by weak oil prices, which declined by around two-thirds in January-March due to a supply glut and the economic fallout from the spread of the novel coronavirus.

          To tackle the impact of the spread of the virus and overproduction, a group of leading oil producers including Russia, known as OPEC+, agreed last month to boost their combined oil output cuts to almost 10 million bpd, or 10% of global demand in May-June.

          "We can say that the year-on-year output decline will amount to around 10% and 5% in refining," first vice-president, Pavel Fedorov, told investors on a conference call. This means production cuts could reach 467,000 bpd this year.

          Rosneft, in which BP owns a 19.75% stake, also plans to cut investment by around $2.7 billion, or 21%, this year due to the global pact.

          "(This year) may become a turning point for the global oil and gas industry. As a result of the global COVID-19 virus pandemic, demand for crude oil has experienced an unprecedented decline, which resulted in a significant drop of energy prices," Rosneft CEO Igor Sechin said in a statement.

          He, however, added that Rosneft was well-placed to weather the challenges.

          The company said its first-quarter finances were negatively impacted by a weaker rouble, which inflated its foreign exchange denominated debt obligations.

          Revenue for the January-March quarter fell 15% to 1.77 trillion roubles on lower oil prices, while earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 44% to 309 billion roubles.

          Rosneft made net profit of 131 billion roubles in the first quarter of 2019.

          The company also confirmed that newly set up Russian state entity, Roszarubezhneft, has bought its assets in Venezuela.

          (Reporting by Vladimir Soldatkin and Olesya Astakhova; editing by Jason Neely and Emelia Sithole-Matarise)

          Stocks mentioned in the article
          ChangeLast1st jan.
          AT HOME GROUP INC. 4.47% 8.64 Delayed Quote.57.09%
          BP PLC -0.57% 298.1 Delayed Quote.-36.79%
          INTER RAO UES 4.50% 6.015 End-of-day quote.19.30%
          JASON CO., LTD. -0.91% 873 End-of-day quote.139.84%
          JUST GROUP PLC -4.88% 45.66 Delayed Quote.-42.20%
          LONDON BRENT OIL 0.00% 43.3 Delayed Quote.-34.38%
          PUBLICOIL COMPANY BASHNEFT 0.00% 1744.5 End-of-day quote.-9.61%
          ROSNEFT OIL COMPANY -1.01% 359.25 End-of-day quote.-20.11%
          THE GLOBAL LTD. -2.27% 215 End-of-day quote.-54.35%
          THE NEW HOME COMPANY INC. -2.52% 4.25 Delayed Quote.-8.80%
          US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.51% 71.697 Delayed Quote.15.15%
          WILL GROUP, INC. -0.31% 644 End-of-day quote.-48.56%
          WTI 0.40% 41.24 Delayed Quote.-33.03%
          share with twitter share with LinkedIn share with facebook
          Latest news on BP PLC
          02:48aOil-Field Services Giant To Cut Jobs, Spending -- WSJ
          DJ
          07/24South Texas calls for evacuations as storm Hanna heads for weekend landfall
          RE
          07/24Energy firms say Storm Hanna does not impact Gulf of Mexico output
          RE
          07/24Schlumberger Cuts 21,000 Jobs Amid Historic Oil Downturn -- Update
          DJ
          07/24BP : appoints Tushar Morzaria as non-executive director
          PU
          07/24BP Appoints Barclays' Tushar Morzaria as Nonexecutive Director
          DJ
          07/23Repsol writes down $1.5 billion as COVID-19 sours oil outlook
          RE
          07/23Repsol's long-term oil price outlook aligns with rivals
          RE
          07/22LONDON STOCK EXCHANGE : FTSE 100 retreats on energy losses; Melrose Industries t..
          RE
          07/22EUROPE : European stocks in reverse as U.S.-China tensions spike
          RE
          More news
          Financials (USD)
          Sales 2020 186 B - -
          Net income 2020 -8 916 M - -
          Net Debt 2020 47 790 M - -
          P/E ratio 2020 -7,99x
          Yield 2020 9,42%
          Capitalization 76 740 M 76 744 M -
          EV / Sales 2019
          EV / Sales 2020 0,67x
          Nbr of Employees 67 600
          Free-Float 93,1%
          Chart BP PLC
          Duration : Period :
          BP plc Technical Analysis Chart | MarketScreener
          Full-screen chart
          Technical analysis trends BP PLC
          Short TermMid-TermLong Term
          TrendsNeutralNeutralNeutral
          Income Statement Evolution
          Consensus
          Sell
          Buy
          Mean consensus OUTPERFORM
          Number of Analysts 23
          Average target price 4,69 $
          Last Close Price 3,81 $
          Spread / Highest target 75,8%
          Spread / Average Target 23,1%
          Spread / Lowest Target -30,0%
          EPS Revisions
          Managers
          NameTitle
          Bernard Looney Chief Executive Officer & Director
          Helge Lund Chairman
          Andy Hopwood COO & Executive VP-Upstream Strategy
          Murray Auchincloss Chief Financial Officer
          Angela Rosemary Emily Strank Chief Scientist & Head-Downstream Technology
          Sector and Competitors
          1st jan.Capitalization (M$)
          BP PLC-36.79%76 744
          EXXON MOBIL CORPORATION-37.76%183 631
          RELIANCE INDUSTRIES LTD41.75%182 299
          CHINA PETROLEUM & CHEMICAL CORPORATION-26.44%65 821
          NESTE OYJ33.43%36 963
          PTT-12.50%34 761
          官方真人棋牌游戏平台