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Https://oilprice.com/Energy/Crude-Oil/Bullish-Oil-Gas-Producers-Remain-Under-hedged.html
Imo, we have more chance of Looney and Dudley having an affair, than EVER seeing a penny of Rosneft cash come back to shareholders.
Because even if Russia agreed to release it, you can be sure a whinging bunch of do-gooders, would, with the help of our 'wonderful' BBC and other media, portray images of limbless children, tearful elderly in Ukraine, and BP pressured by 'green lobbyist' would hand the lot over, like a misguided 'Danegeld' in the vain hope that it would ease pressure from protesters, and HMG to tax those in the 'dirty business' of keeping us warm, driving, and paying huge amounts of taxes to keep the daily flotsam and our own takers from society eating and housed.
Yet war shares such as BaE are never criticised or burdened with stealth taxes, windfall taxes or hoards of protesters howling for their demise.
Sick to death of companies bowing to protesters and those who have no right to even be here.
No wonder BP struggles against such powerful resistance of a gullible media brainwashed public, with an diet of harrowing images of war victims or Polar bears stood precariously on a slab of floating ice.
Profit is now a dirty word, as handouts, compo and entitlement replace such as a more popular words now.
Https://deal.town/bp/bp-sustainability-report-2023-FKJST2AXN4
So far Putin has resisted the urge to do anything with BPs share of Rosneft.
By all accounts the relationship between Rosneft and BP at board level was still ok, with them accepting it was political and not a business decision.
Putin can change his mind however if Western governments start to touch frozen Russian assets
Surely we have no title now to any Russia based shares…… Putin will have cancelled them to help pay for saving Ukraine from itself ?
Does anyone know of the status of any dividends or shares held in escro belonging to BP. Not that there is any likelehood of them being an assett
The beginning of the year, and follows several attacks by drones on Tuesday.
A Lukoil refinery in western Russia caught fire after a drone attack early on Tuesday local time in what appears to be several coordinated attacks by drones from Ukraine on Russian refinery and fuel facilities.
A crude processing unit at the refinery in Nizhny Novgorod is on fire after a drone attack was carried out on Tuesday morning, Gleb Nikitin, governor of Nizhny Novgorod, wrote on his Telegram channel.
A few hours earlier, another energy facility in western Russia was also attacked by a drone.
A drone attack was launched at a fuel and energy facility in the Oryol region, governor Andrey Klychkov said on Telegram. One of the fuel tanks caught fire as a result of the attack, a representative of the local authorities told Russian news agency TASS.
Local officials in the capital city Moscow, as well as in the regions of Kursk, Tula, Voronezh, and Belgorod also reported drone attacks, without giving more details.
Lower refining capacity in the second quarter, due to refinery maintenance and emergency repairs following the attacks, could be one of the reasons why Russia said it would focus on cuts to oil production instead of exports in its voluntary supply reduction as part of OPEC+ in the second quarter, analysts say.
Https://www.livecharts.co.uk/MarketCharts/brent.php
meoryou:)
Morning Spights
It’s been very quiet here recently,almost like we are talking to ourself.
I realise it’s hard to be excited about BP right now.
But it’s always good to hear your positivity.
I and certain one day your positivity will be rewarded.
It’s just a case of how long we have to wait.
Gingy when we finally get revalued if you believe the 50% undervalue reports,even £6.40 seems easy( but in reality £5 first would be nice).
Let's hope, it would be nice. LTH
Good morning meoryou
Onwards and upwards to our £6.40
:))))))))))
Always worth tracking: https://www.bp.com/en/global/corporate/investors/regulatory-news-updates-and-filings/trading-conditions-update.html
Although the very firm current oil price with apparently very good fundamentals does not appear to be translating into a real rise in sp.
Earnings should continue to be very firm.
We are near the end of another good quarter,will oil mainly above $80.
That is laying good foundations for the next time we finally see the “mythical “ £5.
Onwards and Upwards
Inventory Draws Across The Board Jolt Oil Prices
Crude oil inventories in the United States fell this week by 5.521 million barrels for the week ending March 8, according to The American Petroleum Institute (API), largely contradicting analysts, who had predicted a 0.4 million barrel build. The API reported an 423,000-barrel rise in crude inventories in the week prior.
On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 0.6 million barrels as of March 8. Inventories are now at 361.6 million barrels.
Oil prices were down ahead of the API data release as the EIA increased slightly its forecast U.S. crue oil production.
At 3:58 pm ET, Brent crude was trading down 0.16% on the day at $82.08, up just 5 cents per barrel compared to this time last week. The U.S. benchmark WTI was trading down on the day by 0.22% at $77.76 $78.17, down nearly $0.41 per barrel compared to last Tuesday.
Gasoline inventories also fell this week, adding to the bullish sentiment. Gasoline inventories fell 3.750 million barrels, on top of the 2.8 million barrel inventory drop in the week prior. As of last week, gasoline inventories were about 2% below the five-year average for this time of year, according to the latest EIA data.
Distillate inventories also fell this week, by 1.162 million barrels, on top of last week’s 1.8 million barrel drop. Distillates were already 10% below the five-year average for the week ending March 1, the latest EIA data shows.
Cushing inventories rounded out the losses this week, falling 998,000 barrels after rising by 500,000 barrels in the previous week.
OPEC remains optimistic that the world will see robust oil demand growth this year and next amid improving economies and further upside potential in global economic growth.
In its closely-watched Monthly Oil Market Report (MOMR) published on Tuesday, OPEC revised up slightly its global economic growth forecast for this year to 2.8%, up by 0.1 percentage point compared to its report from last month. The cartel left its 2025 economic growth projection unchanged at 2.9%.
“While some downside risks persist, a continuation of the expected momentum from the beginning of the year could result in additional upside potential for global economic growth in 2024,” OPEC said.
Current expectations point to ongoing easing of inflation throughout 2024 and 2025, especially in major economies, which supports a more positive trend in economic growth. A rise in real-income levels, improved consumer purchasing power, and forecasts that major central banks will start reducing interest rates this year are all supportive of economies, OPEC said.
Related: Europe’s Secret Weapon In Its Energy War With Russia
“There exists the possibility of additional upside to global economic growth, particularly if inflation decreases at a faster rate than currently anticipated,” the cartel noted, adding that India and China also have the potential to provide further impetus to global economic growth in both 2024 and 2025.
“Furthermore, the 2024 and 2025 growth trajectories of India, China, as well as the US, could exceed current expectations,” OPEC said in its monthly report.
Against these expectations of global economic growth, OPEC left its oil demand growth forecasts unchanged from the February report, expecting global oil demand to expand by a “robust” 2.2 million barrels per day (bpd) in 2024, and to see another 1.8 million bpd annual growth in 2025. Non-OECD economies will contribute the most to oil demand growth, nearly 2 million bpd in 2024 and 1.7 million bpd in 2025, OPEC said.
Oil markets are set for a busy week, but so far neither US inflation data nor the monthly OPEC report managed to disrupt the stagnation of oil prices, with ICE Brent still trading around the $82 per barrel mark. The end of US refinery maintenance, coupled with better-than-assumed demand figures, might be one of the key trends to watch out for. At the same time, drone strikes on Russian refineries could squeeze diesel markets.
The wait for a sentiment shift continues
Https://stocknews.com/news/bp-eqnr-am-accelerate-your-returns-with-3-lucrative-gas-stocks/
Sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the three dealing days between 6 March and 8 March 2024 (£1 = US$1.27718). Accordingly, the amount of sterling dividend payable in cash on 28 March 2024 will be:
5.6922 pence per share.