Energy Transition | AI | Shifting World Order, Mint Finance

Suhas Reddy

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>BP expects lower realised refining margins and weak oil trading to hurt earnings, with a refining margin contraction to reduce earnings by USD 500-700 million.</li>
<li>The company anticipates impairments ranging from USD 1-2 billion in Q2, including charges related to the ongoing review of its Gelsenkirchen refinery in Germany.</li>
<li>BP projects its upstream production to remain broadly flat sequentially, with stable oil output and a slight decrease in gas and low-carbon energy production.</li>
</ul>


BP expects lower realised refining margins and weak oil trading to hurt earnings, with a refining margin contraction to reduce earnings by USD 500-700 million.
The company anticipates impairments ranging from USD 1-2 billion in Q2, including charges related to the ongoing review of its Gelsenkirchen refinery in Germany.
BP projects its upstream production to remain broadly flat sequentially, with stable oil output and a slight decrease in gas and low-carbon energy production.


[Earnings Preview] BP's Woes Continue: Weak Refining Margins to Squeeze Earnings

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>BP, the energy giant has reaffirmed its annual target and unveiled a new cost-cutting measure, reflecting its bid for financial resilience in an increasingly competitive energy market.</li><li>Despite an unplanned outage at its Whiting refinery, BP posted an adjusted EBITDA of $10.3bn in the first quarter of 2024, underlining a robust financial performance.</li><li>Its operating cash flow, adjusting for seasonal working capital build, was $7.4bn in the reported quarter.</li></ul>

BP, the energy giant has reaffirmed its annual target and unveiled a new cost-cutting measure, reflecting its bid for financial resilience in an increasingly competitive energy market.Despite an unplanned outage at its Whiting refinery, BP posted an adjusted EBITDA of $10.3bn in the first quarter of 2024, underlining a robust financial performance.Its operating cash flow, adjusting for seasonal working capital build, was $7.4bn in the reported quarter.

BP p.l.c.:  A Focus On Value Over Volume In Hydrocarbon Production - Major Drivers

<ul><li>BP's fourth quarter and full-year 2023 earnings call updates showcase the company's robust growth strategy and progressive journey from an international oil company (IOC) to an integrated energy company (IEC).</li><li>The firm shows a steadfast commitment to rendering higher margins with reduced emissions, evident from the introduction of biofuels, sustainable aviation fuel and biodiesel to customers while concurrently reducing their plants' carbon footprints.</li><li>Over the past four years, BP’s reputed trading organization has optimized these chains to drive returns surpassing industry standards.</li></ul>

BP's fourth quarter and full-year 2023 earnings call updates showcase the company's robust growth strategy and progressive journey from an international oil company (IOC) to an integrated energy company (IEC).The firm shows a steadfast commitment to rendering higher margins with reduced emissions, evident from the introduction of biofuels, sustainable aviation fuel and biodiesel to customers while concurrently reducing their plants' carbon footprints.Over the past four years, BP’s reputed trading organization has optimized these chains to drive returns surpassing industry standards.

BP p.l.c.: A Story Of Strategic Transition To Optimize Profitability & Sustainability! - Major Drivers

<ul><li>BP's results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.</li><li>They reported strong operational performance, with upstream plant reliability and refining availability at 96% year-to-date.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

BP's results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall Street.They reported strong operational performance, with upstream plant reliability and refining availability at 96% year-to-date.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

BP plc: A Disappointing Quarter: A Deep Dive into the Unexpected Setbacks! - Major Drivers

Commodities

<ul>
<li>US crude inventories fell for the fourth straight week, with a 3.7 mb drawdown. Gasoline stocks dropped by 5.6 mb, the largest decline since March.</li>
<li>As of 19/Jul, US natural gas inventories were up 8.4% YoY and 16.4% above the 5-year seasonal average.</li>
<li>TotalEnergies’ Q2 revenue fell 5.2% YoY, missing estimates by 7.3%. EPS dropped 7.5% YoY and missed estimates by 7.2%.</li>
</ul>


US crude inventories fell for the fourth straight week, with a 3.7 mb drawdown. Gasoline stocks dropped by 5.6 mb, the largest decline since March.
As of 19/Jul, US natural gas inventories were up 8.4% YoY and 16.4% above the 5-year seasonal average.
TotalEnergies’ Q2 revenue fell 5.2% YoY, missing estimates by 7.3%. EPS dropped 7.5% YoY and missed estimates by 7.2%.


[ETP 30/2024] Oil Reels Under Macroeconomic Headwinds; Nat-Gas Sheds Gains to Oversupply Concerns

United Kingdom

BP plc is an oil and petrochemicals company.  The Company explores for and produces oil and natural gas, refines, markets, and supplies petroleum products, generates solar energy, and manufactures and markets chemicals.  BP's chemicals include terephthalic acid, acetic acid, acrylonitrile, ethylene and polyethylene.

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BP PLC (BP/ LN)

[Earnings Preview] BP's Woes Continue: Weak Refining Margins to Squeeze Earnings

BP faces continued challenges with lower refining margins and weak oil trading. It expects USD 1-2 billion in impairments but anticipates some...

Mint Finance

BP p.l.c.: A Focus On Value Over Volume In Hydrocarbon Production - Major Drivers

BP, the energy giant has reaffirmed its annual target and unveiled a new cost-cutting measure, reflecting its bid for financial resilience in an...

Baptista Research

BP p.l.c.: A Story Of Strategic Transition To Optimize Profitability & Sustainability! - Major Drivers

BP's fourth quarter and full-year 2023 earnings call updates showcase the company's robust growth strategy and progressive journey from an...

Baptista Research

BP plc: A Disappointing Quarter: A Deep Dive into the Unexpected Setbacks! - Major Drivers

BP's results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall...

Baptista Research

[ETP 30/2024] Oil Reels Under Macroeconomic Headwinds; Nat-Gas Sheds Gains to Oversupply Concerns

US crude inventories continue to decline, while gasoline stocks see largest drop since March. US natural gas inventories up YoY, TotalEnergies' Q2...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Earnings Preview] BP's Woes Continue: Weak Refining Margins to Squeeze Earnings

BP faces continued challenges with lower refining margins and weak oil trading. It expects USD 1-2 billion in impairments but anticipates some...

Mint Finance

BP p.l.c.: A Focus On Value Over Volume In Hydrocarbon Production - Major Drivers

BP, the energy giant has reaffirmed its annual target and unveiled a new cost-cutting measure, reflecting its bid for financial resilience in an...

Baptista Research

BP p.l.c.: A Story Of Strategic Transition To Optimize Profitability & Sustainability! - Major Drivers

BP's fourth quarter and full-year 2023 earnings call updates showcase the company's robust growth strategy and progressive journey from an...

Baptista Research

BP plc: A Disappointing Quarter: A Deep Dive into the Unexpected Setbacks! - Major Drivers

BP's results were a major disappointment as the company failed to meet the revenue expectations as well as earnings expectations of Wall...

Baptista Research

[ETP 30/2024] Oil Reels Under Macroeconomic Headwinds; Nat-Gas Sheds Gains to Oversupply Concerns

​US crude inventories continue to decline, while gasoline stocks see largest drop since March. US natural gas inventories up YoY, TotalEnergies' Q2...

Mint Finance

US crude inventories continue to decline, while gasoline stocks see largest drop since March. US natural gas inventories up YoY, TotalEnergies' Q2...