What's Going On With BP Shares Premarket Today?

Lekha Gupta

April 09, 2024

BP p.l.c. (NYSE:BP) shares are trading higher after the company reported a trading update for the first quarter of 2024.

The British oil major expects upstream production to be higher than the prior quarter, with production projected to be higher in oil production & operations and slightly higher in gas & low carbon energy.

The gas & low carbon energy segment is expected to have an adverse impact in the $0.2 billion-$0.4 billion range from lower realized prices and around $0.2 billion from the devaluation of the Egyptian Pound.

In the oil production & operations segment, realizations are expected to have an adverse impact in the range of $0.3 billion-$0.6 billion, including price lags on production in the Gulf of Mexico and the UAE and also declines in non-Henry Hub natural gas marker prices.

The customers and products segment is expected to witness a benefit of $0.1 billion-$0.2 billion from improving realized refining margins.

Also Read: BP’s Biggest Midwest US Refinery Reportedly Set for March Restart After Power Outage

Outlook: For FY24, BP continues to expect both reported and underlying upstream production to be slightly higher Y/Y. The company projects capital expenditure to be around $16 billion, weighted towards the first half of FY24.

Apart from this, BP is reportedly close to an agreement to divest some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco, reported Reuters.

“We are close to agreeing on a final price and signing on the dotted line. This will ensure that Perenco can continue to maintain or even increase production from those fields,” the report quoted a person familiar with the talks.

“We will have a deal and announcement well before the end of the summer.”

Investors can gain exposure to the stock via Direxion Hydrogen ETF (NYSE:HJEN) and First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (NYSE:EIPX).

Also Read: BP Reclaims £1.8M From Dismissed CEO’s Pay Package

Price Action: BP shares are up 1.34% at $39.43 premarket on the last check Tuesday.

Recommended

SpaceX Just Took Its Biggest Step Yet Towards an IPO - Ad

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

Everyone Thought He Was Insane Until AT&T + SpaceX Handed Him $40B - Ad

VENTURA COUNTY, Calif. (AP) — Southern California authorities say they uncovered a criminal ring that stole $10 million in merchandise from Home Depot over several years, including 600 thefts this year alone, which the company calls the largest organized retail theft in its history.

Jim Cramer Recommends Buying This Industrial Stock, Calling It 'Way Too Cheap'

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

[Revealed] Trump's Next AI Executive Orders?

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

Mortgage Fraud Is Now A Trump-Era Flashpoint—Here's Everything You Need To Know

Given the recent high-profile cases, Benzinga decided to take a closer look at what mortgage fraud is and how it can be committed.

This Chinese $30K Tesla Model 3 Rival Secured 10,000 Orders In Seven Minutes

Xpeng's P7 sedan launched in China with over 10,000 orders in 7 mins. Rival Tesla also released new models for Chinese market.

Another Gold High? Here's the Move Wall Street Is Missing ...

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Gold just surged past $3,600, up 45% in a year - but Sean Brodrick says $6,900 could be next. History shows when gold booms, one hidden play has delivered far bigger gains - 21x, 49x, even 1,386x. The same strategy once handed 26,000% profits. And Sean says it's back on the table now.

How To Earn $500 A Month From HP Stock Ahead Of Q3 Earnings

HP offers an annual dividend yield of 4.29%, or $1.16 a year. So, how can investors capitalize and pocket a regular $500 monthly?

NextEra Energy Eyes A Nuclear Revival

NextEra Energy plans to bring the Duane Arnold nuclear plant back online as major tech companies seek more nuclear energy.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

Jim Cramer: Sell Chime, Get This Buy Now Pay Later Stock Instead

Chime Financial, on Aug. 22, announced a strategic partnership with Workday to advance financial wellness in the workplace.

Trump fires Democratic member of Surface Transportation Board ahead of huge rail merger decision

President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie before the body considers the ever proposed.

Gold Is Being Reintroduced Into the Monetary System

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Palantir Co-Founder Joe Lonsdale Says 'Very Weird' That Trump White House Took 10% Intel Stake, Calls It 'Cronyism In Some Form'

Palantir co-founder Joe Lonsdale criticizes government's equity stake in Intel, calling it cronyism and unusual. Some support, others oppose.

YouTube TV subscribers may lose access to Fox content, including sports, due to contract dispute

NEW YORK (AP) — Fox channels could soon be pulled from YouTube TV if the two sides don't ink a new content use deal Wednesday, potentially leaving subscribers of the Google-owned streamer without and other content.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Palantir CEO Alex Karp Once Pushed For 'Department Of Offense' — Now Trump Rebrands Pentagon To 'War' Office As PLTR Touts America's AI Edge

President Donald Trump rebranded the Pentagon as the "Department of War" on Friday, echoing Palantir CEO Alex Karp's earlier call for a more offensive U.S. military strategy as AI becomes central to global power competition.

What's Going On With Boeing Stock Friday

Boeing (BA) and RAAF successfully prove MQ-28 operational effectiveness in autonomous flight trials. Program advances Australia's autonomous airpower development.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Salmonella outbreak tied to recalled eggs has sickened 95 people since January

At least 95 people in more than a dozen states have been sickened since January in an outbreak of salmonella poisoning tied to recalled eggs, federal health officials

Gen Z's Confidence Crisis Is A Red Vs. Blue Problem, Shows Study

Gen Z's life satisfaction at lowest in 3 years: 45% rate lives positively now, down from 49% in 2024. Decline driven by 18-28yr olds, especially women.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

European Central Bank expected to keep rates on hold as economy weathers Trump's tariffs

FRANKFURT, Germany (AP) — Inflation is back under control, and the European economy is weathering Trump's tariff onslaught better than expected. Those are reasons the European Central Bank is expected to keep its benchmark interest rate unchanged Thursday.

Bitcoin Jumps On Cooler Inflation; Ethereum, XRP, Dogecoin Gain — Analysts See BTC Trading In This Range Until The Fed Meet

Leading cryptocurrencies rallied on Wednesday as U.S. producer inflation unexpectedly cooled, boosting the chances of interest rate cuts.

SpaceX Just Took Its Biggest Step Yet Towards an IPO

SpaceX Just Took Its Biggest Step Yet Towards an IPO - Ad

Elon Musk's $17B EchoStar deal gives Starlink the spectrum to act as "cell towers in space," expanding capacity 100x and ending dead zones. Jeff Brown says this could trigger SpaceX's biggest IPO yet - and shows how you can stake in it now with as little as $500.

Super Micro Computer (SMCI) Shares Are Sliding Tuesday: What's Going On?

Super Micro Computer shares are trading lower Tuesday. The stock is caught in a downdraft affecting the broader semiconductor and high-growth technology sectors.

Iran's rial currency falls to near-record lows on European 'snapback' sanctions threat

DUBAI, United Arab Emirates (AP) — Iran's rial currency fell to near-record lows Thursday as concerns grew in Tehran that European nations will start on the Islamic Republic over its nuclear program, further squeezing the country's ailing economy.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Mark Zuckerberg Once Gave His Palo Alto Neighbors Noise-Cancelling Headphones, Wine And Doughnuts For This Reason

Mark Zuckerberg's neighbors frustrated by noise and disruption caused by his $110M renovation project. Gifts and meetings offered as appeasement.

Bitcoin, Dogecoin, Solana Rise — Ethereum Falls: BTC Correcting, But Potential For Growth Intact If Demand Holds, Says Analyst

Leading cryptocurrencies traded higher alongside stock futures on Monday, as investors parsed the recent appeals court decision that termed President Donald Trump's tariffs unconstitutional.

Everyone Thought He Was Insane Until AT&T + SpaceX Handed Him $40B

Everyone Thought He Was Insane Until AT&T + SpaceX Handed Him $40B - Ad

EchoStar just sold $17B in radio spectrum to SpaceX. To most, it's another 5G headline. But Jeff Brown says it's the final signal Musk is turning SpaceX into America's next great mobile network - with the potential to become a $10T giant.

Accenture CEO Julie Sweet Believes This Is The One Thing You Shouldn't Do When Offered A Major Promotion

Accenture CEO Julie Sweet advises to never let self-doubt answer first when opportunity knocks. Confidence and humility are key in leadership.

Top Japanese beverage giant Suntory's chief resigns as he faces a drug probe

TOKYO (AP) — Takeshi Niinami, chief executive of Japan’s major beverage maker Suntory, resigned Tuesday to take responsibility for being under investigation for alleged possession of an illegal drug.

[Revealed] Trump's Next AI Executive Orders?

[Revealed] Trump's Next AI Executive Orders? - Ad

Volkswagen faces historic $30 million compensation for Amazon labor abuses in Brazil

SAO PAULO (AP) — labor court on Friday ordered Volkswagen to pay 165 million reais (about $30 million) for collective moral damages after workers were subjected to slave-like conditions at a company-owned farm in the Amazon during the 1970s and 1980s. Prosecutors said it is the largest such reparation in the country’s history.

Shortage of homebuyers forces many sellers to lower prices or walk away as sales slump drags on

LOS ANGELES (AP) — Skyrocketing housing values and a shortage of homes on the market gave homeowners the upper hand for years when it came time to sell. That’s no longer a given.

Another Gold High? Here's the Move Wall Street Is Missing ...

Another Gold High? Here's the Move Wall Street Is Missing ... - Ad

Alibaba Sees Historic Opportunities As CEO Points To AI And Quick Commerce Wins

Alibaba Group Holding's Q1 revenue beats expectations, driven by growth in China e-commerce and international operations. Cloud revenue up 26%.

Trump administration appeals ruling blocking him from firing Federal Reserve Gov. Cook

WASHINGTON (AP) — President Donald Trump's administration on Wednesday appealed a ruling blocking him from firing Federal Reserve Gov. as he seeks more control over the traditionally independent board.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

Trump's new CDC chief: A Washington health insider with a libertarian streak

WASHINGTON (AP) — President Donald Trump has picked Jim O’Neill, a former investor and critic of health regulations serving under Health Secretary Robert F. Kennedy Jr., to take control of the Centers for Disease Control and Prevention, following a tumultuous week in which the agency's director was forced out.

Trending Now