Beyond Protocol (BP) news

Sector Update: Energy Stocks Higher Late Afternoon

03:55 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%. The Philadelphia Oil Service Sector Index was climbing 3.6%, and the Dow Jones US Utilities Index increased 0.6%. In geopolitical news, Saudi Arabia-backed Yemeni government forces advanced on Monday to retake the coast around the Bab el-Mandeb Strait, a chokepoint similar to the Strait of Hormuz, pushing the Iran-backed Houthis out of most of the areas they had seized in September, Reuters reported. Meanwhile, Iran's Interior Minister Eskandar Momeni travelled to Doha at the invitation of his Qatari counterpart, Al Jazeera reported. Front-month West Texas Intermediate crude oil fell 2.2% to $89.07 a barrel, and the global benchmark Brent crude contract shed 2.1% to $100.07 a barrel. Henry Hub natural gas futures rose 0.9% to $3.06 per 1 million BTU. In corporate news, Cenovus Energy (CVE) has agreed to buy fellow Canadian energy company Athabasca Oil in a cash-and-stock deal with an implied enterprise value of roughly 5.7 billion Canadian dollars ($4 billion), as it aims to expand its core oil sands business. Cenovus shares were down 2.9%. Chevron (CVX) said Jeff Gustavson, who currently serves as president of its New Energies unit, has been appointed as chief financial officer, effective Jan. 1, 2027. Shares eased 0.3%. Suncor Energy (SU) agreed to sell its interests in the Terra Nova, White Rose and West White Rose offshore assets to Ithaca Energy for 1.2 billion Canadian dollars ($841.3 million) in upfront cash, plus up to CA$350 million in contingent payments, Suncor said Sunday. Suncor shares were down 1.1%. BP (BP) CEO Meg O'Neill said Monday that the company has adjusted its refineries to maximize diesel production amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. BP

Sector Update: Energy

03:29 PM EDT, 10/05/2026 (MT Newswires) -- Energy stocks advanced late Monday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1%. The Philadelphia Oil Service Sector Index was climbing up 3.6%, and the Dow Jones US Utilities Index increased 0.6%. Front-month West Texas Intermediate crude oil fell 2.2% to $89.07 a barrel, and the global benchmark Brent crude contract shed 2.1% to $100.07 a barrel. Henry Hub natural gas futures rose 0.9% to $3.06 per 1 million BTU. In corporate news, BP (BP) CEO Meg O'Neill said Monday that the company has adjusted its refineries to try maximizing diesel production, amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. BP shares were down 0.2%.

BP CEO Meg O'Neill Says Refineries Adjusted to Maximize Diesel Output

10:32 AM EDT, 10/05/2026 (MT Newswires) -- BP (BP) Chief Executive Officer Meg O'Neill said Monday that the company has adjusted its refineries to try maximizing diesel production, amid sharper prices of the commodity. Speaking at the Energy Intelligence conference in London, O'Neill said that the company has been able to adapt and respond to changing customer needs. In May, BP's European refineries were able to tweak their operations to produce 30% more jet fuel than they did before the conflict, O'Neill added. Price: 44.48, Change: -0.31, Percent Change: -0.70

US Stock Market Preview: The three major stock index futures show mixed performance, US Dollar Index nears this year's high, Schneider Electric plans to acquire PTC (PTC.US) for $22.6 billion

The three major U.S. stock index futures are mixed.

BP CEO says it will improve shareholder capital efficiency to promote restructuring

BP CEO Meg stated that it is necessary to improve the efficiency of shareholder capital usage. After six months in charge, she is working to reshape the oil giant. At the Energy Intelligence Forum in London on Monday, Meg said, "Decision-making is crucial. In the past, we did not manage shareholder capital carefully." As the first CEO hired from outside BP, Meg quickly pushed for a restructuring of the company after years of underperformance. Related measures include selling low-return assets, streamlining the company’s structure, and appointing a new chairman. In August, she mentioned that BP had not fully realized its potential and had "lost too much value." The Iran war has driven up oil and gas prices, giving Meg a certain boost to implement company restructuring. However, on Monday she declined to reveal when BP would resume stock buybacks, stating only that the company would continue to pay down debt and would not increase spending. Meg said, "In our industry, BP has had the highest leverage for more than a decade."

Mizuho Bank raises BP (BP.US) target price to $56

Mizuho Bank has raised the target price for BP (BP.US) from $53 to $56.

BP CEO Refuses to Disclose When Share Buybacks Will Resume

The CEO of BP (BP.US) declined to disclose when stock buybacks will resume.

BP CEO: Will Continue Debt Repayment with Additional Profits, No Increase in Spending

BP CEO: The company will continue to use additional profits to pay down debt and will not increase spending.

BP CEO says major expansion is not advisable before repairing the balance sheet

BP's CEO stated that it is too early to consider any major expansion moves beyond growth within the existing business portfolio until the balance sheet restoration is complete.

BP CEO expresses confidence in liquefied natural gas prospects as Asian demand rises

The CEO of BP stated that he has always had strong confidence in the prospects of liquefied natural gas, and that the demand for liquefied natural gas in the Asian market is currently on the rise.

BP says LNG contract flexibility has significantly improved

The CEO of BP pointed out that LNG contracts have seen significant improvements in flexibility in areas such as contract duration, pricing mechanisms, and overall contract structure. Amid increasing volatility in the global energy market, these upgraded flexible contracts enable relevant parties to better adapt to changing supply and demand conditions and reduce uncertainties in trading.

Mizuho raises BP target price to $56

BP <BP.N>: MIZUHO RAISES TARGET PRICE TO $56 FROM $53

BP : MIZUHO RAISES TARGET PRICE TO $56 FROM $53

BP CEO says he is uncertain whether direct investment as an alternative to export routes is in the shareholders' best interest

BP CEO: Uncertainty remains over whether direct investment in alternative export routes is in the best interests of BP shareholders.

BP is working with the Iraqi government to explore new options for oil export routes.

BP CEO: We are working with the Iraqi government to explore new export route options, including the northern route.

BP CEO says investor capital was not properly managed in the past, Middle East remains crucial

BP CEO: In the past, the company failed to properly manage investor capital. The Middle East will continue to be vital for the company.

BP CEO: No Intention to Withdraw or Avoid the Middle East Market

BP CEO: We have no intention of withdrawing from or avoiding the Middle East market.

BP has no plans to shy away from the Middle East, CEO says

Oct 5 - BP BP.L has no intention of shying away from the Middle East, Chief Executive Officer Meg O'Neill told the Energy Intelligence conference in London on Monday. O'Neill added that BP is working with the Iraqi government to understand options for new export routes, including a northern route. (Reporting by Anushree Mukherjee, Shadia Nasralla, Stephanie Kelly in London; Editing by Joe Bavier)

BP CEO says war has not significantly changed the macro view on energy

The CEO of BP (BP.US) stated that his views on major macro trends in the energy sector have not been significantly affected by the war.

European Stocks Close Higer in Friday Trading; Euro Area Inflation Rises Faster Than Expected

Sector Update: Energy Stocks Fall in Early Trading Friday

BP, Whiting Refinery Union Make No Progress in Latest Talks

European Equities Traded in the US as American Depositary Receipts Fall Sharply in Thursday Trading

Aker Solutions wins bp engineering, integrity services frame deal for North Sea assets

Dragged down by the decline in energy stocks, the FTSE 100 fell to a two-week low.

Update 2 - BP appoints Ben Monaghan as head of M&A from early 2027

$100 Oil Price Spurs 'Cash Flow Revaluation' Logic! BP Plans to Sell Brazilian Biofuel Business to Accelerate Focus on Oil and Gas Assets

BP Plc is considering various options for its Brazil biofuel business, including a sale, as CEO Meg O'Neill accelerates efforts to reshape the energy giant's business portfolio.

$100 oil price triggers 'cash flow revaluation' logic! BP plans to sell its Brazilian biofuel business and accelerate focus on oil and gas assets.

Sector Update: Energy Stocks Higher Late Afternoon

Sector Update: Energy Stocks Rise Monday Afternoon