BP Stock Moves Higher With Angola LNG, Gas Output Boost

BP p.l.c. (NYSE:BP) shares jumped on Tuesday after the company confirmed a new gas production start-up in Angola.

New Gas Production Start-Up

The company confirmed start-up of gas production from the Quiluma field in Angola.

It is part of the New Gas Consortium project operated by Azule Energy, a 50:50 joint venture between bp and ENI (NYSE:E) .

Azule Energy operates the project with a 37.4% participation, alongside Cabinda Gulf Oil Company (31%), Sonangol E&P (19.8%), and TotalEnergies (11.8%).

It expects the initial production to be 150 million standard cubic feet per day and ramp to 330 million standard cubic feet per day by the end of 2026.

Notably, the partners launched the ...

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BP Stock Moves Higher With Angola LNG, Gas Output Boost

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