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@Exploration, thanks for your insights re M.A: I can only agree.
However, what we can we do as small shareholders (and some here are clearly employees as well) apart from moaning?? Ideas welcome from anybody.
It's blatently obvious the board slept while on watch and MA doesn't have CEO authority; not even close.
I also vaguely remember you talking about some big BP / Abu Dhabi deal to be revealed at COP28...sorry if I have missed something, but interested in your views. Thanks.
Seasonality should have nothing to the with the share price. If the game was that easy, everyone would make so much, right? Imagine if you expected Apple to go nuts because of the holiday season. New iPhones, new Macs, people are buying more anyway because Christmas is coming....with the higher demand of a season, the higher expectations are set by analysts.
Meoryou
I can only see this going higher from £4-80
Any decent news and this will be over a fiver rapid style
Sold all mine at a slight loss, hoping to offset some capital gains with RR shares… hoping BP will stay around this price for a month so I can buy them back
You have got to assume some of the bigger holders are a bit frustrated with BP underperforming.
So the right CEO should give a bounce.
Will the wrong CEO give another fall?
Many parts are still performing very well.
So new CEO by Christmas?
So that’s the first cut off time for a bid.
But if you were watching from the sidelines,
Would you wait and see if BP get it wrong, and sp drops even further.
I really hope we get it right, and start to return to some normality especially with the sp
I'm thinking we could hit £4-90 at some stage this week and over the fiver the week after
Let's see if my calculations are close?
Anyone think this is likely to rise in the near future?
Thought the war and winter would have had this rocketing but it seems to of largely stagnated….
Can’t see anything really boosting the share price in the near future… maybe a new ceo?
Any thoughts?
Agreed.
As for the "little England (or Scotland for that matter) brigade, BP is no longer "British " either in terms of turnover or shareholders.
We are unlikely to get a switched on replacement and the sooner we are bought out the better.
Nd
Poor Murray - he didn’t ask for this, and has done an excellent job in tax and finance roles.
What concerns me more is the quality, dynamism and industry relevance of our BoD incumbents - have a look at them, and then join me in prayer for a swift takeover by a savvy competitor.
This is hardly a "skewering".. and particularly from an ex-employee who is no doubt earning huge cash as a contractor.
The pension blowback blows my mind as a current employee - why should they get an inflation matching rise when working employees foister the standard 2-3%. Its a joke by a generation who had have seen gold plated pensions, pay-offs and record asset price rises. Nothing more than a cash grab
Charlie - he was taken to task on the mess BP has created in the UK pension issue. The questioner was a former BP employee now working as a contractor for BP in Aberdeen.
Exploration,
Thanks for the reply. It seems that there is NO substitute for experience. You cant foister someone on the employees if they have no confidence in them. Especially in Scotland. Hopefully we have a list of suitable replacement for Looney who can inspire the workforce and drive the company forward.
What was he skewered over. More facts, less tittle tattle.
Interesting, mind sharing more Exploration?
I hadn't heard this and I'm and employee!
Theaky
Auchincloss was ‘skewered’ by staff at a Town Hall’ meeting in Aberdeen last week and I heard the event fell flat as he scurried back to London. To put it another way, he doesn’t seem to be CEO material even in opinion of BP staff.
Whoever gets the top job must have the support and authority to replace all FOBL with a new, experienced leadership team. Ironically, I expect Auchincloss will also be ‘pursuing other interests’ before long.
As for the Board, their next big test is BL’s leaving package!
Am I alone in fearing a hapless BP board will try to foister an unwanted (grey tax man) Murray Auchincloss as our new CEO. we require a dynamic, experienced, full of energy and ideas of how to unlock hidden shareholders value; and drive us forward with a renewed commitment to full steam ahead with Oil and Gas production. Not the "Grey Tax Man", Business as Usual. Boring Boring, Boring. Get rid of them all, the current BOD has to go.
It’s Sunday so it’s time for the latest will they or won’t they story.
Maybe there is a sp that does finally makes it a no brainier.
Many of these stories suggest that the reason for BPs low sp,is due to no CEO,but I seem to remember a bounce when we lost Bernard.
Still time for a new CEO and £6 by Christmas anyone?
( except Spights because we know you believe)
"Auchincloss is not an accountant. His background is tax."
Even worse :-)
We need an outsider who can shake up the whole lot. Best outcome is no new CEO: Shell to buy BP. Then the joint co will have a proper CEO.
In its letter, it alleges Venture Global’s conduct “threatens to undermine the very objectives” of the task force, which is to boost Europe’s energy security. Venture Global retorted that as one of the few companies to successfully finance, commercialise and build capacity it has been “integral” to the increase of US gas exports.
Edison has also written to the task force requesting it “use all of its powers” to force Venture Global to supply the cargo. It accused the company of “profiteering” at the expense of European customers.
Edison cites a report by Wood Mackenzie which forecast Venture Global stands to gain $17.5bn from the short-term market sales, compared to $2.8bn it would receive under long-term contracts with foundation customers.
“This issue is no longer a private dispute between companies,” said Edison in a letter seen by the FT. “Rather it is exacerbating an energy crisis affecting the lives of everyday European citizens. It can no longer be overlooked.”
The call for intervention from the joint EU-US Task Force on energy security — set up after Russia’s invasion of Ukraine to spur US gas exports to Europe — marks a significant escalation of the dispute. The body is headed by senior officials, including Ditte Juul Jørgensen, director-general for energy at the European Commission, and Amos Hochstein, US President Joe Biden’s senior adviser on energy.
Shell said in a letter to the officials seen by the FT: “Such short-sighted, unprecedented conduct sets a concerning precedent that could erode market confidence and delay investment in the US LNG export infrastructure that is still critically needed to support Europe’s energy security.”
The letter authored by Steve Hill, executive vice-president of Shell Energy, and dated October 27 urges the task force to press Venture Global to cease its “unjustifiable and damaging” actions and honour its long-term supply agreements.
A separate letter from BP concurred with Shell’s position. “Venture Global’s conduct has shaken confidence in the trustworthiness of American LNG suppliers at a critical time,” wrote Carol Howle, BP’s executive vice-president of trading and shipping.
In its own letter to the officials, dated November 10, Venture Global said it was “honouring its contractual obligations to its long-term customers in strict conformity with its long-term contracts”.
“It is nothing more than the latest in a series of unsuccessful attempts to bully an industry newcomer into waiving its contractual rights in order to increase their own profits beyond recent record highs,” Mike Sabel, the company’s chief executive, and Bob Pender, co-chair, wrote.
Venture Global’s first LNG facility, Calcasieu Pass, located on the Gulf coast in Louisiana, commenced producing LNG in January 2022 and exported its first cargo two months later. But the company argues it has not yet started full commercial operations and is not obliged to supply foundation customers until the commissioning is completed.
It has declared “force majeure” on its contractual commitments on the grounds that the facility’s power supply equipment needs repair.
Shell said the company’s excuse does not withstand scrutiny, as the facility has delivered more than 200 cargo shipments to customers. The nearly 600-day commissioning period for Calcasieu Pass defies industry standards, it added.
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https://www.ft.com/content/90891fb9-9bb9-4777-8b10-5e071514ea09
Shell and BP have asked Washington and Brussels to intervene in a bitter dispute with Venture Global LNG, warning the company’s refusal to honour a multibillion-dollar liquefied natural gas supply contracts threatens Europe’s energy security.
In correspondence seen by the Financial Times, the oil majors accuse the US LNG provider of “misconduct” for withholding cargo agreed under long-term supply contracts and instead selling LNG on the spot market.
Shell alleges Venture Global’s “opportunistic” action has enabled it to reap an $18bn windfall because of a spike in gas prices following Russia’s invasion of Ukraine while denting its ability to meet critical energy supply needs in Europe.
The accusations have sparked a war of words, with Venture Global branding as “outrageous” the companies’ “request for interference” from the governments in binding contracts.
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https://www.ft.com/content/90891fb9-9bb9-4777-8b10-5e071514ea09
The supermajors, alongside Spain’s Repsol and Italy’s Edison, are among several foundation customers embroiled in contract arbitration with Venture Global. Foundation customers agree long-term contracts that help LNG providers attract financing to build their projects.
The European energy groups are all seeking to force the US company to deliver the contracted cargo or pay financial penalties under a process that could take years.
Has anyone got the gom compensation website