BP And Shell See New Opportunities In Libya's Oil Fields
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
BP's Return to Libya: BP Plc plans to reopen its Tripoli office by late 2025 after signing a memorandum of understanding with Libya's National Oil Corporation (NOC) to explore new oil opportunities in the country, particularly in the Messla and Sarir fields.
Collaboration with Shell: The NOC has also partnered with Shell Plc to assess hydrocarbon prospects and conduct feasibility studies on the al-Atshan field, aiming to enhance Libya's energy sector through international cooperation and improve economic stability.
Analyst Views on BP
Wall Street analysts forecast BP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BP is 84.26 USD with a low forecast of 6.38 USD and a high forecast of 503.69 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 35.430
Low
6.38
Averages
84.26
High
503.69
Current: 35.430
Low
6.38
Averages
84.26
High
503.69
About BP
BP p.l.c. is a United Kingdom-based integrated energy company. Its segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. The gas & low carbon energy comprises regions with upstream businesses that predominantly produce natural gas, gas marketing and trading activities and its solar, wind and hydrogen businesses. The oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. The customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle (EV) charging, as well as Castrol, aviation and business-to-business (B2B) and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. The other businesses and corporate also comprises the Company's shipping and treasury functions, and corporate activities worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
