We View BP’s MLP Plans Positively, but as Largely Inconsequential; FVE Unchanged
BP has announced plans to create a master limited partnership, or MLP, to hold its U.S. midstream assets: BP Midstream Partners, or BPMP, which will initially own feedstock and product pipelines serving BP’s Whiting refinery and interest in several Gulf of Mexico crude pipelines. BP will retain interest in several crude, natural gas liquids, and refined product pipelines, which will be used to expand BPMP over time. We view the decision positively, but as largely inconsequential, leaving our fai...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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