BP has knocked more than half the cost off its Mad Dog Phase 2 project. Estimated at $20 billion four years ago, it’s now expected to cost less than $9 billion, Chief Executive Officer Bob Dudley said last month. Rig-rental rates are likely to stay down because of an oversupply, while low steel prices are reducing the cost of other equipment, he said.
I've been tracking this share for the past 5 years since the deep water disaster. Jumped in last year at the right price. To be honest I was very nervous pre Brexit about the share price and was about to jump out the day before the election. Thank God I held my nerve. The share price is really motoring now. With its huge DP fines in the past the future looks very bright for BP. It's well positioned to handle to lower oil prices as it's had to go through tough times in order to prepare itself the fines.
The mystery thickens the SP continues to fly North and Pedrob no where to be seen !!! I wonder why he is not showing up just hope he did not follow his own advice and shorted , Even though I am out at £4.27 I get nothing but satisfaction as the SP continues north. I am still heavily invested with RDS at £15.60 so very happy especially with RDS dividends so I will be holding long. As always Keep Smilling
This is my biggest holding with only GSK near to it in monetary terms. Must admit that showing a 30% paper profit is making me twitchy but I reckon in 5 more years my investment will have paid for itself in dividends. I think we may be a takeover target sooner rather than later now
nice that brokers are now saying £6 But take no notice of them as they're all clowns. They were predicting £2 here when a few of us long term holders on here knew they were talking c r a p. AlanG - mr Man spring to man + me of course. now we're going places.
More positive broker news today plus the emphasis on Bluechip company's on the FTSE. Why sell now the BP recovery continues towards £5. As put by a broker today BP is out of rehab and back on the pitch for battle plus the dividend has been de-risked as well.
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