BP p.l.c. stock (GB0007980591): Secures 40% stake in Uzbekistan oil blocks

BP p.l.c. has expanded its presence in Central Asia by securing a 40% interest in a production-sharing agreement for six oil and gas exploration blocks in Uzbekistan's Ustyurt region. The deal was announced on May 13, 2026, according to GuruFocus as of May 13, 2026. This move strengthens BP's exploration portfolio in a region with significant hydrocarbon potential.

BP shares rose 0.5% to 550.50 pence in London morning trading following the news, as reported by Morningstar as of May 13, 2026. On the NYSE, the stock traded at $43.34 on May 8, 2026, per WallStreetZen as of May 8, 2026. Brent crude was at $106.12 per barrel early that day.

As of: 13.05.2026

By the editorial team – specialized in equity coverage.

BP p.l.c.: core business model

BP p.l.c. operates as an integrated energy company with upstream exploration and production, downstream refining and marketing, and a growing renewables segment. The company extracts oil and gas globally, processes fuels, and supplies energy products to consumers. This Uzbekistan deal aligns with BP's strategy to bolster upstream assets in emerging markets.

Headquartered in London, BP employs tens of thousands worldwide and maintains significant operations in the US, including Gulf of Mexico production, making it relevant for American investors tracking energy majors with transatlantic exposure.

Main revenue and product drivers for BP p.l.c.

Upstream activities account for the bulk of BP's revenue, driven by crude oil and natural gas output. In 2025 full-year results published in early 2026, upstream production averaged key metrics supporting profitability amid volatile prices. Downstream fuels retail sales through stations like Amoco in the US.

Recent expansions like Uzbekistan target long-term reserves replacement, crucial as BP navigates energy transition pressures while capitalizing on high oil prices above $100 per barrel.

Industry trends and competitive position

The oil and gas sector faces volatility from geopolitics and the shift to renewables, yet demand persists. BP competes with ExxonMobil and Shell, holding a strong position in LNG and offshore via US-listed ADRs accessible to retail investors. The Uzbekistan venture diversifies beyond mature basins.

Why BP p.l.c. matters for US investors

Listed on NYSE, BP offers US investors direct exposure to global energy without overseas trading hurdles. Its Gulf of Mexico assets tie into American production, and dividends appeal amid high yields in the sector.

Conclusion

BP p.l.c.'s Uzbekistan expansion underscores its commitment to growth in high-potential regions, supporting upstream strategy amid favorable oil prices. Shares showed modest gains post-announcement, reflecting market approval. Investors monitor execution risks and broader energy dynamics.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.