BP

BP subsidiary Jera Nex BP is reportedly negotiating the return of the North Sea areas it won for Oceanbeat West and East and, according to investigations, no longer shows interest in building the wind farms. The company cites grid connection delays as the reason, but has laid off staff in Hamburg and otherwise remains tight-lipped. A withdrawal or delayed realization could mean billions in costs for electricity customers, problems for grid operators such as Tennet, and delays in the expansion of offshore grids. The federal government must decide whether to allow returns or insist on the bidding principle, which would significantly affect the timetable and additional costs. » More on sueddeutsche.de

Goldman Sachs raised its target price for BP from 660 to 700 pence and kept the rating at 'Buy'. Analyst Michele della Vigna adjusted valuation models for European energy companies because of higher oil, gas and refining margins. He sees the highest returns for investors in 2026 from Eni and Repsol. » More on finanzen.net

Under CEO Meg O’Neill, BP reports significantly better numbers thanks to high oil prices: net income in the first half rose to USD 7.75 billion and operating cash flow to USD 13.72 billion. O’Neill sets five priorities focused on debt reduction, portfolio simplification — including a planned exit from North Sea production and the sale of drilling rigs — and more disciplined investments. Technically, the stock has broken the short-term downtrend and the GBP 6.00 mark is coming into focus, though analysts remain cautious. » More on finanzen.net