Energy: BP Starts Making Moves and Obama Makes His Last Drilling Stand Post OPEC Production Cut
Industry Focus
The Motley Fool
4.6 • 854 Ratings
🗓️ 22 December 2016
⏱️ 21 minutes
🧾️ Download transcript
Summary
Big players are starting to make big moves as the energy markets gain some certainty -- here's what you need to know.
Transcript
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| 0:00.0 | This episode of Industry Focus is brought to you by Rocket Mortgage by Quicken Loans. |
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| 0:17.0 | forward slash fool. That's quicken loans.com forward slash fool. |
| 0:23.0 | Welcome to Industry Focus, the podcast that dies into a different sector of the stock market every day. |
| 0:31.0 | Today is Thursday, December 22nd 22nd 2016 so we're talking about |
| 0:34.4 | energy, materials, and industrial. I'm joined on air today by my podcasting |
| 0:39.4 | partner in crime Mr. Taylor Markerman what's the good word Taylor? |
| 0:42.3 | Missing you in the good word Taylor. |
| 0:42.9 | Missing you in the studio, my man. |
| 0:45.7 | I'm sorry, I already had to travel home. |
| 0:49.0 | They had a travel deal and I couldn't pass it up. |
| 0:51.6 | I get it. I'm home for the holidays you know happens to the best of them it does and I am the best so |
| 1:00.0 | anxious to get your thoughts on what BP's been up to, OPEC has cut production, |
| 1:06.5 | BP's been one of the more far-sided of the oil majors, break it down for us. |
| 1:12.0 | So yeah, I mean this is a company that I think we |
| 1:14.7 | highlighted a few weeks back as as one of the majors that people might want to |
| 1:18.6 | stay tuned into and it's showing why you know they're becoming much more gas heavy with the latest 916 million dollar investment in Cosmos energy. |
| 1:31.0 | They're obviously growing in natural gas after an acquisition in Egypt last month. |
| 1:38.1 | So this is just adding to that portfolio after they've been selling off assets over the last few years ever since the |
| 1:46.0 | Macondo spill in the Gulf of Mexico. |
| 1:47.5 | I think they sold off around 50 billion dollars in assets trying to help pay off that $60 billion in fines, fees, and what not that came |
| 1:59.4 | with that unfortunate mishap in the Gulf of Mexico. So they're finally done shedding |
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