London, January 28, 2026, 08:02 (GMT) — Regular session
- BP shares edged up 0.8% in early London trading, following a 1.6% jump yesterday
- Oil prices rise amid concerns over U.S. supply disruptions, boosting energy stocks
- Investors eye BP’s buyback pace, monitor developments in Trinidad gas, and await results on Feb. 10
BP shares climbed 0.8% to 455.75 pence in early London trading on Wednesday, following a close of 452.05 pence the previous day. So far in the session, the stock has fluctuated between 454.27 pence and 455.75 pence, according to data from Investing.com. 1
Oil prices edged higher, giving integrated majors a familiar boost. Brent crude climbed to $67.68 a barrel by 0725 GMT, supported by concerns over U.S. supply disruptions following a winter storm. Still, analysts cautioned the rally might lose steam once those worries subside. “Selling pressure is likely to return,” said Toshitaka Tazawa of Fujitomi Securities. 2
BP grabbed attention after a fresh broker call thrust liquefied natural gas (LNG) back into focus. Kepler Cheuvreux bumped BP onto its “Sector Most Preferred” list while downgrading TotalEnergies to Reduce. The analyst argued BP’s portfolio is “well-positioned for an LNG downturn,” noting its long LNG exposure should drop to zero by 2027. 3
Atlantic LNG in Trinidad, partly owned by BP and Shell, plans to remove one liquefaction train in Q4. This move responds to gas shortages and the unit’s inefficiency. A liquefaction “train” cools natural gas into LNG for export. Project director Michael Daniel noted that planners need to reroute shared utilities to keep the other trains running. 4
BP’s Trinidad chief David Campbell confirmed the company is still eyeing cross-border gas deals with Venezuela, even though Caracas halted bilateral energy agreements with neighboring countries last year. “It is an obvious project to have,” Campbell said, referring to the Cocuina-Manakin gas project BP had been working on with Venezuela’s state-owned PDVSA. 5
A company notice revealed BP repurchased 2,922,961 ordinary shares on Tuesday under its buyback programme, at a volume-weighted average price of roughly 447.82 pence. The firm said it intends to move the shares into treasury. 6
Despite the recent rally, some sell-side analysts are still holding back. RBC’s Biraj Borkhataria stuck with a Neutral rating on BP and left the price target at 500 pence, MarketScreener reported. 7
Gas has taken center stage as LNG profits soar with price shifts. European majors are locked in a battle to withstand the next oversupply without sacrificing cash returns. Kepler’s note highlighted BP as better positioned than rivals burdened with hefty long LNG commitments when the market turns down.
Support could evaporate quickly. If U.S. production and exports bounce back and tensions in the Middle East ease, crude prices may fall, dragging energy stocks down. The gas shortfall in Trinidad — which forced Train 1 offline — highlights how upstream supply constraints can tighten LNG volumes and cut into fees.
Buybacks might help steady swings, but they won’t change the commodity story. Traders are eyeing the upcoming crude sessions to see if the storm-related premium holds and whether the gas headlines actually impact BP’s medium-term volumes.
BP’s next major event will be its fourth-quarter and full-year 2025 earnings, set to drop at 7 a.m. on Feb. 10. 8
