BP PLC: Recent Developments and Market Context

BP PLC, listed on the London Stock Exchange and trading in GBX, reported a closing price of 456.05 GBP on 27 January 2026. The company’s share price has ranged from 329.2 GBP (52‑week low, 8 April 2025) to 476.25 GBP (52‑week high, 10 November 2025). The price‑to‑earnings ratio stands at 64.99, reflecting the current valuation relative to earnings.

1. Licensing Activities in Trinidad and Tobago and Venezuela

From 27 to 28 January 2026, BP, in partnership with Shell, pursued United States licences to develop natural‑gas fields that straddle Trinidad and Tobago and Venezuela. The filings were announced by Trinidad and Tobago’s energy minister, Roodal Moonilal, and were covered by multiple outlets:

  • Kaieteur News Online (29 January) and Seeking Alpha (28 January) reported that BP and Shell are seeking U.S. licences for gas fields shared with Venezuela.
  • InvestEZ (28 January) and Baird Maritime (28 January, 7 am) confirmed the same activity, noting that Trinidad is a major exporter of liquefied natural gas and related chemicals.
  • Investing.com (28 January) and OE Digital (28 January, 10 am) highlighted the cross‑border nature of the projects and the strategic intent of BP’s Trinidad and Tobago operations.

BP’s head of Trinidad and Tobago confirmed the company’s continued interest in these cross‑border opportunities, even after Venezuela suspended bilateral energy agreements the previous year. The licences were granted by the United States and Venezuela, allowing BP and Shell to move forward with development plans.

2. Expansion in Iraq

On 28 January 2026, BP reaffirmed its commitment to support the Iraqi Ministry of Oil in developing large fields, particularly Rumaila and Kirkuk. The statement, reported by IraqiNews.com, emphasized BP’s willingness to participate in the development of these reserves. A BP refinery is already operating in Texas, United States, illustrating the company’s global footprint.

3. Production Boost in India

BP entered a tie‑up with India’s state‑run Oil and Natural Gas Corporation (ONGC) on 28 January 2026. The partnership has already increased production from the Mumbai High block by 3,500 – 4,000 barrels per day, raising total output to 126,000 bpd. The collaboration was announced by Business Standard, citing ONGC’s director of production, Pankaj Kumar.

4. Regulatory and Market Movements

  • Co‑location of Fuel Outlets: Jio‑BP and Adani Total Gas announced plans to co‑locate petrol/diesel outlets with CNG stations in India, but regulatory hurdles persist. The companies seek policy support to align licensing and district regulations, as reported by Economic Times (28 January).
  • Market Ranking Changes: BP replaced TotalEnergies on Kepler’s preferred list after a downgrade (28 January). This change reflects shifting analyst recommendations within the energy sector.
  • Fine in Poland: BP was fined $22 million in Poland (27 January), indicating compliance costs associated with its European operations.
  • Financial Performance: A German finance news outlet reported that an investment of 100 GBP in BP a year earlier would have yielded nearly 24 BP shares, underscoring the company’s return potential for investors.

5. Summary of Strategic Focus

BP PLC’s recent activities highlight a dual focus:

  1. Cross‑border natural‑gas development in the Caribbean and South America, supported by U.S. licences and partnerships with Shell.
  2. Expansion of upstream production through joint ventures in Iraq and India, contributing to the company’s oil and gas portfolio.

These initiatives occur against a backdrop of a high price‑to‑earnings ratio and significant regulatory engagements, positioning BP as a major player navigating complex international energy landscapes.