BP Forms Offshore Wind JV With Japanese Utility Company Jera, Plans To Launch By Q3
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 07 2025
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Source: Benzinga
Joint Venture Announcement: BP has formed a 50-50 offshore wind joint venture with Jera Co., Inc., led by CEO Nathalie Oosterlinck, aiming to develop assets with a potential capacity of 13GW across various regions, pending regulatory approvals by late Q3 2025.
Financial Performance: BP reported sales of $45.7 billion, falling short of expectations, and anticipates lower upstream production in the fourth quarter of 2024, while its stock saw a slight increase of 0.60% to $31.90 in premarket trading.
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.
