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Hi Meoryou. Do we still see interest rates coming down in may? Thanks in advance.
Thanks for the additional info on the background Meoryou.
Meoryou, to your comment on OPEC controlling - completely agree. Today shows the underlying strength in oil markets and the (lack of) response to a US CPI miss should encourage holders.
Enjoy your holiday!
Looks like spoke too soon oil dropping again, below $90 for Brent.
Thank you weirdpal & meoryou for your replies.
Gingy
Think it looks like US cpi coming in higher than expected spooked the markets.
DOW down 400 points.( higher interest rates for longer as inflation may be back)
Oil took a quick tumble ,but already is showing strength again.
Last year an excuse like this would have been used to take oil, and then BP down.
Think now finally the penny has dropped that it’s OPEC that’s in charge of oil prices.
US CPI: https://www.coindesk.com/business/2024/04/10/us-cpi-comes-in-faster-than-hoped-rising-04-in-march/
Hi meoryou, have you got any ideas for the drop all of a sudden on most of the shares?
Wolfiebill
This might interest you,( or some others also)
https://globalsyngas.org/wp-content/conference-presentations/2020/2020-w2-d1-m2-JM-BP-Presentation.pdf
It's perfectly feasible, there would be massive operating savings if they were bought by another oiler with strong downstream / gas assets to mirror bp's oil heavy upstream oil, especially if they had a weaker trading capacity too. But the UK Gov might balk at say, CNPC or CPECC, and Aramco too. Unlikely to want Total, or Chevron / Exxon, but perhaps another US domiciled business such as Shell might work? Now that the crown jewels of bp have been exited by Looney (geo / res dev), it's inevitable as their R/P ratio won't get any better.
Anyone here think it likely that BP could be picked off by another major in the next couple of years?
Personally speaking I think this is a great step forward on a number of fronts and I would hope improve BPs "green" image profile. I wonder which party was the main driver in the research?
Have a great holiday
Send us some sun
:)))))
Morning Spights
Sundays the annual family holiday to Torremolinos.
So on countdown.
Sp finally appears to have some connections to oil price.
Sp about 10% of 52 week high, oil price about 5% off 52 week high.
Think the Shell US rumours have also helped.
Onward and Upwards
A very good morning meoryou
Onward and Upwards:))))))))))))))
It's usually one or the other when it comes to robust oil and gas trading for the quarter. To get both for Q1 24 says to me results will be strong in May, although with such a firm commitment to buybacks I'm not expecting a dividend increase.
I imagine they'll let Shell go quicker than they'll let bp go. However I can't see either happening. As soon as Shell starts to hire lawyers to make the switch, Wael will recieve an invitation to 10 downing street, be wined, dined and 6ty-nined and suddenly the O&G political pressure cooker will be turned down in the UK.
Looking for reasons for BP’s dismal performance vs SHELL… and homed in on the composition of the BoDs….. SHELL’s young, highly qualified execs are in a different league.
Time to pension off the old guard into running the GPO or seats in the House of Lords .
WP
Knew Murray was Canadian, but just found out Sawan is listed as Lebanese-Canadian.
Both not being British does give them some advantages when dealing with UK politicians.
Maybe a few threats can head off Labours worst excesses.
I'm less optimistic on Sawan, I think what we have here is an oil veteran who has had the path not to take laid out for him by another oil veteran that goes by the name of looney. He's seen what happens to SP when oilers attempt to take a step back and he doesnt want to make a rod for his own back. He's doing/saying everything a new CEO should (we'll do more with less and quicker) without any major advance in strategy, MA is doing very much the same at the present time.
The comments around a US listing are political posturing at best. The UK gov (even if its labour) will pull out all the stops to stop the biggest companies leaving their national exchange. To my previous comment on this, by saying US is more attractive he's confirming to the markets that he doesnt believe he can grow the SP organically, rather than what is technically accounting.
He has given confidence to investors however, something bp is consistently failing to do.
Yet another example of UK PLC self harming.
Posted by Getagrip on Shell site
I think when we look back on Sawan's tenure at Shell he will be seen as a master-strategist. As Shell knows super-tankers are very difficult to turn around, but for me he is doing an excellent job and relatively speaking, at pace. If anyone is in any doubt on this try discussing the topic with a BP shareholder.
Certainly Sawan is trying to raise Shell's SP, and close the gap, by stating that New York might be on the radar. But he is also demonstrating that Shell will not passively accept being a pawn for the soon to be electioneering parties in the UK. For me he might even be trying to boost the share-price as a prelude to a hostile takeover attempt. Maybe he is thinking along the lines of following the current fashion of buying a US oil company & attempting to mitigate any regulatory hurdles with a bit of hearts and minds strategy. Maybe he is indirectly trying to highlight some of BP's comparative weaknesses, with a view to a possible merger or takeover.
Exciting stuff though, to balance against yet another rainy UK day.