We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP Enters into LNG Sales and Purchase Agreement with PTT
Read MoreHide Full Article
BP plc (BP - Free Report) recently announced that it has inked a sales and purchase agreement with PTT Public Limited Company (“PTT”) for liquefied natural gas (LNG). We expect these developments to result in stock price appreciation. Year to date, the stock has gained 19.7%, while the Zacks categorized sub industry Oil & Gas-International Integrated Market has increased by 19%. Per the terms of the 20-year agreement, BP will supply about 1 million tons of LNG per annum to PTT. Beginning in 2017, LNG supply will be sourced from BP’s diverse portfolio of LNG, including the Freeport LNG Project in the U.S..
The commercial terms of the agreement were not disclosed. BP shares a longstanding relationship with PTT and this agreement reinforces its LNG supply capability in Thailand.
BP’s operations span across the major LNG producing regions as well as in the main LNG markets. It is engaged in LNG projects in Australia, the UAE, Indonesia, Egypt, Trinidad and Angola.
BP has a liquefaction tolling agreement for over 4.4 million tons per annum LNG capacity at the Freeport LNG Project in Texas. Currently, the project is under construction and production is anticipated from 2018.
PTT’s main businesses are related to petroleum, petrochemicals, power generation and coal. PTT is a fully integrated national petroleum and petrochemical company with an aim to enhance national energy security, economic prosperity and corporate sustainability along with the management of the environment and the Thai society.
BP is one of the world's major energy companies that provides its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products. Previously, the company used to report earnings through three segments – Exploration and Production, Refining and Marketing, and Other Businesses and Corporate.
BP currently has a Zacks Rank #3 (Hold). Some better-ranked players in the same sector include Braskem S.A. (BAK - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Braskem posted a positive earnings surprise of 107.79% in the last reported quarter.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
BP Enters into LNG Sales and Purchase Agreement with PTT
BP plc (BP - Free Report) recently announced that it has inked a sales and purchase agreement with PTT Public Limited Company (“PTT”) for liquefied natural gas (LNG). We expect these developments to result in stock price appreciation. Year to date, the stock has gained 19.7%, while the Zacks categorized sub industry Oil & Gas-International Integrated Market has increased by 19%.
.jpg)
Per the terms of the 20-year agreement, BP will supply about 1 million tons of LNG per annum to PTT. Beginning in 2017, LNG supply will be sourced from BP’s diverse portfolio of LNG, including the Freeport LNG Project in the U.S..
The commercial terms of the agreement were not disclosed. BP shares a longstanding relationship with PTT and this agreement reinforces its LNG supply capability in Thailand.
BP’s operations span across the major LNG producing regions as well as in the main LNG markets. It is engaged in LNG projects in Australia, the UAE, Indonesia, Egypt, Trinidad and Angola.
BP has a liquefaction tolling agreement for over 4.4 million tons per annum LNG capacity at the Freeport LNG Project in Texas. Currently, the project is under construction and production is anticipated from 2018.
PTT’s main businesses are related to petroleum, petrochemicals, power generation and coal. PTT is a fully integrated national petroleum and petrochemical company with an aim to enhance national energy security, economic prosperity and corporate sustainability along with the management of the environment and the Thai society.
BP is one of the world's major energy companies that provides its customers with fuel for transportation, energy for heat and light, retail services and petrochemical products. Previously, the company used to report earnings through three segments – Exploration and Production, Refining and Marketing, and Other Businesses and Corporate.
BP currently has a Zacks Rank #3 (Hold). Some better-ranked players in the same sector include Braskem S.A. (BAK - Free Report) , Suncor Energy, Inc. (SU - Free Report) and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Braskem posted a positive earnings surprise of 107.79% in the last reported quarter.
Suncor Energy posted a positive earnings surprise of 300.00% in the preceding quarter. It reported an average earnings surprise of 40.55% for the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>