BP is reducing its cost base to survive in a world of lower oil prices.
BP reported a decline in second-quarter earnings, an outlier from peers who have already reported strong year-over-year gains, but results were stronger than consensus estimates, sending shares higher. Cash flow generation, excluding the impact of Gulf of Mexico payments, improved from the first quarter and was sufficient to cover capital spending and the cash portion of its dividend, demonstrating that BP is trending in the correct direction. BP expects the continued addition of new project sta...BP is an integrated oil and gas group based in the United Kingdom. Co. is engaged in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and the manufacture and marketing of petrochemicals. Co. operates globally, with business activities in Europe, the U.S., Canada, Russia, South America, Australasia, Asia and parts of Africa. Co. operates in two business segments: Exploration and Production - including oil and natural gas exploration and development and production; and Refining and Marketing- activities include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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