BP signs new Abu Dhabi gas concession, shares trade steady in London
26.06.2026 - 12:10:49 | ad-hoc-news.de
By Christina Vogel, Background & Management desk. Reviewed prior to publication on 2026-06-26, 10:10.
BP (GB0007980591) has signed a concession agreement with Abu Dhabi National Oil Company (ADNOC) and partners for the Bab Gas Cap project in the United Arab Emirates, according to reports from London and Abu Dhabi. The deal adds another long-term gas position for the energy major while its shares trade broadly steady on the London Stock Exchange.
What Reuters reports on the Bab project
According to a Reuters dispatch on the Bab Gas Cap concession, ADNOC has awarded stakes in the Abu Dhabi onshore gas project to several international partners including BP. The concession targets gas and condensate resources in the Bab field, one of the long-producing onshore assets in the emirate.
Reuters reports that TotalEnergies secured a 10 percent interest in the Bab Gas Cap concession, highlighting the project’s strategic relevance for European majors seeking secure gas supply. BP’s role sits alongside other partners as part of the UAE’s broader plan to increase gas production and reduce its import dependence, adding another Middle East gas exposure to its portfolio.
How BP positions itself in gas and low carbon
BP has flagged natural gas and LNG as a central pillar of its transition strategy, alongside investments in renewables and bioenergy. In its investor materials, the company describes gas as a "transition fuel" that supports energy security while lower-carbon options scale up, and it targets growth in LNG volumes over the coming years.
The Bab Gas Cap concession in Abu Dhabi adds to BP’s existing gas and LNG positions in regions such as the United States, Azerbaijan and West Africa, giving the company another long-dated upstream option in a low lifting-cost environment. For investors on venues like the London Stock Exchange and the NYSE, the deal underlines how BP is continuing to compete with peers such as Shell and TotalEnergies for advantaged gas resources in the Middle East.
Background and price data on BP
Key figures, prior news and historical quotes help investors assess how the BP shares trade around new upstream projects and strategy milestones.
The product behind the stock
Beyond upstream gas projects such as Bab, BP generates cash flow from a broad portfolio that includes fuels marketing, trading and refining as well as lubricants under the Castrol brand. Castrol engine oils and lubricants are sold globally for passenger cars, trucks and industrial applications, providing a consumer-facing revenue stream alongside BP’s B2B energy activities.
Where the BP shares trade today
BP shares (GB0007980591) most actively trade in London under the ticker BP., with a last quoted price of about 480.85 pence on the London Stock Exchange as of 2026-06-26, 09:31 local time, according to Davy price data.
Key data on the BP shares
- Company: BP p.l.c.
- ISIN: GB0007980591
- WKN: 850517
- Ticker: BP.
- Trading venue: London Stock Exchange
- Price (as of 2026-06-26, 09:31): 480.85 GBp
- Market cap: 84.0 billion GBP (as of 2026-06-26)
- Sector / industry: Energy / Integrated Oil & Gas
- Index membership: FTSE 100
- Next earnings date: not officially scheduled
Disclaimer: This article is for informational purposes only and does not constitute investment advice, an offer, or a recommendation to buy or sell any financial instruments. All data are based on publicly available sources deemed reliable but cannot be guaranteed for accuracy or completeness.
