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 gas treatment plant in Soyo, northern Angola in November 2025, marking the latest upstream milestone for Azule Energy.

The production began at the Agogo field in July 2025, followed by the Ndungu development start-up in February 2026.

Since early 2025, Azule Energy has made four hydrocarbon discoveries: Algaita‑01 and Gajajeira‑01 in Angola, and Volans‑1X and Capricornus‑1X in Namibia's Orange Basin.

Stock Performance Overview

BP is trading 10.6% above its 20-day simple moving average (SMA) and 19.6% above its 100-day SMA, keeping the intermediate trend pointed higher, and shares are up 27.07% over the past 12 months. With the stock now above the prior 52-week high ($43.33) and well above the 52-week low ($25.22), price is positioned closer to the top of its annual range.

Earnings Expectations

Looking further out, the next major catalyst for the stock arrives with the April 28, 2026 (estimated) earnings report.

  • EPS Estimate: 70 cents (Up from 53 cents YoY)
  • Revenue Estimate: $51.20 Billion (Up from $46.91 Billion YoY)
  • Valuation: P/E of 2102.9x (Indicates premium valuation relative to peers)

Top ETF Exposure

  • Dimensional International Value ETF (NYSE:DFIV): 1.03% Weight
  • Donoghue Forlines Yield Enhanced Real Asset ETF (NASDAQ:DFRA): 1.99% Weight
  • BP P.L.C. ADRhedged (NYSE:BPH): 97.27% Weight

BP Stock Price Activity: BP shares were up 2.12% at $43.81 during premarket trading on Tuesday, according to Benzinga Pro data.

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