Analyst Note
| Allen Good, CFA |We are reducing our fair value estimate and moat rating for BP after incorporating its latest strategic shift into our analysis and model.
1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We are reducing our fair value estimate and moat rating for BP after incorporating its latest strategic shift into our analysis and model.
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2019, it produced 2.3 million barrels of liquids and 9.5 billion cubic feet of natural gas per day, including volumes from its 20% ownership interest in Rosneft. At year-end 2019, reserves stood at 19.3 billion barrels of oil equivalent, 59% of which are liquids. The company operates refineries with a capacity of 1.9 million barrels of oil per day.