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BP is in play for a takeover, its a sitting duck...be patient
MarkGo, "EIA's corrupted oil demand data seen for what it is."
Surely the EIA is reporting correct data and not falsified wrong data ? I know that Biden wants a low oil price for his election and that movements within the US Oil Reserves (SPR) can distort data, but surely the EIA is reporting the correct figures ?
Thanks spights. Sounds to me that as the FED are reducing from June2024 the monthly price cap on buying Treasury securities from USD60b to USD25b that the inflationery effects of that will reduce and that there's an acknowledgement from the FED that their higher rate of purchase of these securities may have been fueling the very inflation rate that they're trying to reduce. My Economics is quite rusty so maybe I'm wrong here ?!! If I'm right, then the FED statement is maybe some good news ?
Https://www.cnbc.com/2024/05/01/fed-decision-heres-what-changed-in-the-new-statement.html
Https://www.cnbc.com/2024/05/01/fed-meeting-today-live-updates-on-may-fed-rate-decision.html
Mark the oil data 100% agree
Manipulation
Jeroen blokland
@jsblokland
BREAKING! The #FederalReserve keeps rates unchanged. AND cuts Treasury balance sheet reduction to USD 25 billion. Like #Powell told everyone at the last #FOMC meeting, the Fed likes its balance sheet BIG!
BP held up well today considering.
Evening all
Looking forward to the manufactored market drama moving on. Federal reserve interest decision, Powell's cautionary words. The return of 50% of markets after today's International labour day market holiday and the US government's weaponised EIA oil demand data seen for the corruption of detail for political advantage. US Presidential election just six months away.
BP back in the 520's within days.
Powell's comments. Dov
Return of many European and Asian markets from International labour day tomorrow.
EIA's corrupted oil demand data seen for what it is.
Webcast details
bp's first quarter 2024 results will be released at 7am BST/2am EDT on Tuesday 7 May.
Murray Auchincloss, chief executive officer and Kate Thomson, chief financial officer will host a question and answer session from 1pm BST/8am EDT to 2pm BST/9am EDT (approx).
Date
Tuesday 7 May
Time
1 – 2pm BST / 8 – 9am EDT (approx.)
The next BP dividend will be declared on 07-May-2024. This BP dividend will be the 2024 Q1 dividend and is expected to be $0.0727 with an ex-dividend date of 16-May-2024 and a dividend payment date of 28-Jun-2024. BP.D
Refining capacity in Russia that was offline due to drone attacks was estimated by Reuters in mid-April at around 660,000 barrels per day (bpd), compared to 907,000 bpd offline at the end of March.
Russia said in early April it can repair all damaged units within two months.
Russia’s Energy Minister Nikolai Shulginov said that all damaged refineries in the country would be restarted by the beginning of June.
“Repairs are underway at the refineries. We plan to re-launch a number of refineries after repairs in April-May, possibly before the beginning of June,” Russian news agency Interfax quoted Shulginov as saying.
“All facilities that were damaged will be re-commissioned,” the minister added.
Just as Russia had started to bring back some refinery capacity damaged by Ukrainian drone attacks earlier this year, a new wave of drone attacks hit a major refinery owned by Rosneft, for a second time.
Rosneft’s Ryazan refinery southeast of Moscow caught fire after the overnight drone attack, an anonymous Ukrainian military source with knowledge of the situation told Bloomberg News on Wednesday.
The refinery in the region of Ryazan, whose main city of the same name is some 120 miles southeast of Moscow, was first attacked by drones in the middle of March. The first attack also led to a fire.
This year, Ukraine has stepped up attacks on oil refineries in Russia, which have reduced Russian refining capacity, and, reportedly, have the White House concerned about rising international prices.
The United States has repeatedly urged Ukraine to halt its drone attacks on Russian oil refineries due to Washington’s assessment that the strikes could lead to Russian retaliation and push up global oil prices, the Financial Times reported in March, citing sources familiar with the exchange.
As of mid-April, Russia had brought back online some oil refining units, reducing the capacity taken offline by Ukrainian drone hits to around 10%, from 14% at the end of March.
The refining capacity in Russia that was offline due to drone attacks was estimated by Reuters in mid-April at around 660,000 barrels per day (bpd), compared to 907,000 bpd offline at the end of March
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Thanks MarkGo,
I'm hoping the turn around will be a matter of days, I may just cash on the next decent rise when it comes.
Hi Jezzoo
That does make all the difference in regard to near term share price monitoring and I really hope you get your decision on timing and price perfect. Property purchase is stressful enough on its own so good luck with both.
I am hopeful that the current share price fall is very short term. The Fed's interest decision is a current factor and that the oil price will bounce on no middle east progress.
Good timing Jezzoo
Mark
Thank you meoryou and thanks for your input.
Good luck
Hope it goes well for you
Meoryou.
My time scale is the next 4-5 weeks I think (subject to the process)
Jezzoo
What’s your time scale.
My thoughts are be aware right now of sell in May.
Last 3 years there has been a top in early May.
If you have time this has been followed by higher highs later.
Been in the same position,usually like to lock in a chunk at an acceptable price ,then take a chance on the rest( a little gamble to see if I can improve on sp.)
I’m sure you know what you are doing.( at least as well as any of us know)
I'm focusing on the day to day because I'll be selling 90% of my holding to buy a house very shortly and I'm looking for a sell point.
Each to his own.
As most of you know, I'm not sure we'll see any major movements on earnings - mgmt has set out its stall for the next 2 years re: buybacks and I anticipate any good news re promised 4% uplift in divi's is baked in. Based on other oil majors it seems this earnings is set to be a non-event. Q2 may be more interesting as it looks like we're sustaining 85-90$ oil... which starts to raise the prospect of potential M&A as oilers are just generation so much cash.
As always, its pointless focusing on the day to day, zoom out to 2 years+ I say and base your actions on this.
Good morning meoryou:))))))
OP has dropped nearly 5% since Monday, the SP of the oilies moves in tandem almost, just follows it up or down in a real time situation. Individual SP's move independently on company news alongside this OP movement impetus.
I'm surprised BP hasn't dropped more in line with OP which tells me that despite the drop in oil BP has risen in real terms and will bounce back strongly when the OP turns back north.
I watch Exxon,Chevro,Bp,Shell in US markets.
What I do notice is they don’t always move in the same direction ( or often as much as each other).
Something BP moves in step with them sometimes it appears to be doing catch up.
Eg one day BP seems to be in favour,more than the other three.
Then a couple of days later when they all fall,BP has further to fall to catch back up.
I suspect it’s rotation between the different companies in the sector.
At this moment in time it’s also a function of who has reported and who is still to report.