CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.40% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Oil major BP drilling an appraisal well in Texas for carbon sequestration

By Reuters_News


Updated

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A 3D-printed natural gas pipeline is placed in front of displayed BP logo in this illustration taken February 8, 2022.
A 3D-printed natural gas pipeline is placed in front of displayed BP logo in this illustration taken February 8, 2022.

- Oil major BP BP.L on Monday said it has begun drilling an appraisal well in Texas for its U.S. carbon capture and sequestration business, an executive said.

The company in May said it and partner Linde planned to develop a site along the Texas coast to bury carbon dioxide produced from Linde's manufacturing of hydrogen outside of Houston.

"We are currently using our subsurface and expertise to drill an appraisal well, for our U.S. carbon capture and storage business," Jack Collins, finance chief of BP's BPX Energy shale subsidiary, said at the EnerCom conference. He declined to provide details.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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