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I’ve set my buy 7500 shares at £4 might have to wait for December 19 everyone know this share drop hard on pay day but who knows might get in early and share price might go up on pay day.
It has to be said on Rosneft that although we wrote the value down to zero we still own the ~20% equity stake and have dividends accruing in rubles, in a russian bank account. Tainted assets they may be but they arent worth zero and their value will be recognized at some point - by both the accountants and investors.
No chance of anything occuring pre-election next year, but beyond this who knows.
Why the Rise in Offshore Wind Costs is Temporary
https://climatenexus.org/climate-issues/offshore-wind-costs/
Good morning Clued.
I think you are right. If the US are serious about net zero/renewable energy especially offshore wind then they will need to pay for it like the rest of the world. The New your authority's refusal to increase the power purchase agreements is not the end of the matter just the beginning of renegotiation. I expect this to be a global for all licensing.
If investors felt aggrieved by BP's $540 write down then check out Orsted's !!. On write downs, I feel that there was much unnecessary negatively at Q3 results from analysts and posters due to BP's write down. There is a big difference from a write down in value to a write off. Rosneft is a write down in value. Its still worth $20 billion.
Let's see how things progress
An interesting article on the current state of play below.
U.S. offshore wind sector 'fundamentally broken' - BP exec | Reuters
https://www.reuters.com/business/energy/bp-low-carbon-boss-calls-us-offshore-wind-industry-fundamentally-broken-2023-11-01/
Have a great day
Mark
Very difficult to unseat the incumbents though invstrat. Unless a an active investor with a huge stake comes along and demands the required changes be made.
Board member Amanda Blanc is CEO of the largest UK pension group Aviva (mucho passive voting rights), that particular turkey isn't going to want to vote for Christmas.
I suppose the good news is, if BP becomes mega-cheap compared to its peers then a competitor is going to want to come along and take it over and with a p/e of just 4.27, BP stock isn't too far away from being 'mega-cheap'.
The longer the BoDs remain rudderless, the more they'll invite hostility upon themselves.
MarkGo, increased offshore wind energy generation prices in UK may 'force' the US to increase theirs as there'll be more motivation for BP and others to desert the US even whre there's a penalty payment like SHELL has recently done ?
Agreed totally BDC - I guess that the jumble of BoD incumbents is partly due to our period of Americanization which we went thro’ after the GoM incident.
Time to replace most of them with some serious grown-ups.
Is Suella available now ??
It's a definite opportunity at this price and I'll be holding out for a minimum of £5-30 before I'd even consider parting with the latest 5000 I hold.
Halma have most certainly put a spring in my step this morning but I had a feeling they might.
RR has been an EXCEPTIONAL hold for me BUT is was very VERY painful watching it fall from my original buy price of 1.10 down to 60 odd pence and reading people's views on where we were going RI and all sorts :)
I had a few sleepiness nights - i can tell you :) - But i averages down to below a £10 and and holding out now for £4+.
Sure, good points. I sold a few weeks back at 5.54. There were extraordinary factors then. I had held them much before the recent Mid East turmoil. If only I had hindsight and foresight to have backed RR and sweet HC.
That may have been a little premature, not sure this is going anywhere fast at the moment.
There are better opportunities elsewhere in the market, all be it a little MORE risky - but as they say "You have to speculate to accumulate" and some degree of risk always exists in the Stock Market, no matter what share you pick.
Back in.
If you want to understand the issues surrounding BP and why it's such a 'confused' company/organisation and why the market doesn't value it anywhere near its competitors - Just take look at the Board of Directors. Have you ever seen such a group of individuals with differing and unaligned interests, all wanting to pull the company in a different direction.
Put on your red shoes Halma, and dance the Tullow train. You've missed out on the initial re-rate. But more coming.
Sadly for Happy.
Https://www.vitol.com/vitol-owned-petrol-ofisi-agrees-to-purchase-bps-turkish-fuel-operations/#:~:text=bp%20has%20reached%20an%20agreement,conditions%20precedent%2C%20including%20regulatory%20approvals.
Down down down SP
Saudi Arabia may extend its voluntary oil output cuts into the first quarter or the first half of next year, Reuters cited Energy Aspects co-founder Amrita Sen as saying on Wednesday, citing oil prices that are still too high and fundamentals that are still too strong to support a reversal.
Sen’s forecast comes as oil prices as Brent crude prices were just under $82 at 11:01 a.m. Wednesday, with West Texas Intermediate (WTI) trading down a percentage point, at around $77.5 per barrel.
On November 26, OPEC+ will hold another ministerial meeting. Earlier in November, Saudi Arabia, the world’s largest exporter, said it would extend its 1-million-barrel-per-day voluntary production cuts until the end of this year. The Kingdom also left official selling prices for Asia unchanged for deliveries in December because of weakening refining margins, supporting Sen’s forecast.
The Saudi decisions sent the markets down on worries of oil demand outlook, suggesting these moves highlighted Saudi uncertainty. That uncertainty was compounded when Saudi Aramco reported a 23% drop in Q3 profits on lower oil prices and lower sales, despite the fact that this, in part, resulted from voluntary output cuts. On Tuesday, oil prices made some gains following OPEC’s Monthly Oil Market Report (MOMR), which indicated that the cartel sees fundamentals as strong and that demand in the U.S. and China is not troublingly low. Oil prices were climbing upwards midday Monday, with Brent crude gaining over 1.6% after the market digested an OPEC report suggesting demand in the U.S. and China is not lowering to the point of concern.
The markets were also responding to unclear indications from the U.S. Federal Reserve about a potential end to rate hikes, with various investment banks speculating on rate reductions in the next 12 months. OPEC said it expected to see Chinese crude imports reach a new annual record this year, and criticized negative market sentiment as overblown.
Price paid for offshore power to rise by 50% - BBC News
https://www.bbc.com/news/business-67430888
Evening all
After unsuccessful lobbying for an increase in the US, resulting in a $540 write down for US offshore wind licences, BP and others have been successful in lobbying the UK government for the same. Let's hope the Europeans and others will follow suit.
My main broker has.
22 Analysts expect the price of BP. to increase by 41%.
22 Analysts expect the price of SHELL. to increase by 17%.
Time will tell.
Looking to see what I was doing on 16th October when I missed slicing WS Guinness Global Energy in ISA.
See I thought to take a slice here at 557p on 17th which has also fallen back since.
Must think of that next trade here.
BRB must be a Bowie fan going off that comment
Have we missed the Tullow gravytrain or something?
Just dont ask him about (ducks) BOO.
The positivity there is arguably higher than the national grid
I'm Happy, hope you're Happy too
wooooo