payday loans

JP Morgan Sees Upside In BP Sakhalin Deal

JP Morgan.gif

JP Morgan welcomes the agreement between BP and Rosneft on exploratory drilling off Sakhalin, saying it is an important source of long-term upside potential.

The bank does not expect any share price reaction as the news is "very speculative."

However, it notes that if exploration is successful, this project could be "a multibillion dollar, world scale development with the potential for several hundred thousand barrels per day of production net to BP, by some time next decade."

Keeps at overweight. BP shares trade -0.2% at 577p.

© Dow Jones Newswires

≡ Leave a Reply

Copyright © 2020 Yuzno.com | Yuzno.com is supported by WP + USB. Designed by milo.
| News RSS | Comments RSS.