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AKER BP ASA U/ADR - AKRBY STOCK NEWS

Welcome to our dedicated news page for AKER BP ASA U/ADR (Ticker: AKRBY), a resource for investors and traders seeking the latest updates and insights on AKER BP ASA U/ADR.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect AKER BP ASA U/ADR's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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The annual general meeting of Aker BP ASA took place digitally with online participation. The board was re-elected, including new director Doris Reiter. All agenda items were approved except for a proposal from Norwegian People's Aid. Contact information and meeting minutes are available online.

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Aker BP reported robust operational and financial performance in the first quarter of 2024, with increased oil and gas production, low costs, and emissions, along with all field development projects progressing as scheduled. The company achieved an EBITDA of USD 2.8 billion, operating profit of USD 2.2 billion, net profit of USD 531 million, and free cash flow of USD 339 million. CEO Karl Johnny Hersvik highlighted the successful completion of the Hanz project and the ongoing progress of the Tyrving development.
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Aker BP announces the commencement of production from Hanz in the North Sea, a subsea field development operated by Aker BP with Equinor and Sval Energy as partners.
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Aker BP (AKRBF) reports preliminary production and sales figures for Q1 2024, with equity production at 448.0 mboepd and net volume sold at 428.9 mboepd. Realized prices for liquids and natural gas varied. The company will release its Q1 2024 report on April 24, 2024.
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Aker BP (AKRBF) releases its integrated annual report for 2023, including financial, sustainability, and remuneration reporting. The company also discloses its annual statement of reserves for 2023. The reports are available on the company's website and cover key investor and media contacts.
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Aker BP delivered strong operational performance in the fourth quarter of 2023, with low cost and high efficiency, although production volumes were impacted by an unplanned shutdown at Alvheim. The company maintained low emissions intensity at an industry-leading level. Oil and gas production reached 444 mboepd in the fourth quarter and 457 mboepd for the full year 2023. Production cost amounted to USD 6.2 per barrel produced. Greenhouse gas emissions averaged 2.8 kg CO2e per boe, both for the quarter and the full year, ranking among the lowest in the global oil & gas industry. Aker BP's EBITDA was USD 3,174 million, operating profit USD 2,154 million, net profit USD 164 million, and free cash flow USD 461 million. Dividend per share increased to USD 2.4 for 2024, equivalent to USD 0.60 per quarter. Guidance for 2024 includes a production range of 410-440 mboepd, capex of around USD 5 billion, exploration spend of around USD 500 million, abandonment spend of around USD 250 million, and production cost of around USD 7 per boe.
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Aker BP has been awarded ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round, with 17 of the licenses also granting operatorship. The company aims to maintain its ambitious exploration strategy and balance its portfolio between wells close to existing infrastructure and independent developments. The Norwegian authorities offered exploration acreage in all areas of the Norwegian continental shelf, emphasizing the importance of producing gas to secure the energy supply to Europe. The award reflects Aker BP's comprehensive application and consolidates its position as the most active independent exploration company on the NCS.
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Aker BP (AKRBF) announces preliminary production and sales figures for Q4 2023, with equity production at 444.3 mboepd and net volume sold at 466.9 mboepd. Full-year 2023 production was 456.8 mboepd. Realized prices for liquids and natural gas were also provided. A strategy update is scheduled for February 8, 2024.
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Aker BP (AKERBP) experienced unplanned downtime at the Alvheim field due to technical issues, causing a deferral of approximately one month in production. Despite the setback, production forecast for 2023 remains within the updated guidance range of 455-465 mboepd, albeit at the lower end.
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Aker BP ASA shares will be traded ex dividend USD 0.55 (NOK 6.18822) per share starting from November 1, 2023. The payment date is yet to be announced.
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AKER BP ASA U/ADR

OTC:AKRBY

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17.10B
305.38M
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
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