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14 hours ago · Indeed, I hear that Looney has held talks with ADNOC, the Abu Dhabi national oil corporation, about a senior advisor role. A friend of the former BP chief acknowledges
I should add that someone on this board suggested a tie up with ADNOC a few months ago when looney was still in charge, looks like someones got insider knowledge!
Can imagine it wasn’t just ADNOC, we have an integrated value chain that many state producers lack and are accessible at a sum that is their royal families supercar budget for a few years 😂
Also I said this last time and people didn’t agree: “UK governments have in the past told London-listed BP that they would block any takeover attempts by foreign entities given the company's strategic value, people familiar with the matter told Reuters.“
Additional comment
Exclusive-UAE's ADNOC recently eyed BP as takeover target, sources say"
https://uk.investing.com/news/commodities-news/exclusiveuaes-adnoc-recently-eyed-bp-as-takeover-target-sources-say-3430115
Evening all. An interesting article.
ADNOC recently eyed BP as a takeover target - Reuters
Apr. 11, 2024 1:55 PM
BP Retail Gas Station. BP and British Petroleum is a global British oil and gas company headquartered in London.
The United Arab Emirates state-owned oil company ADNOC recently considered BP Plc (NYSE:BP) as a potential takeover target. BP briefly went positive amid the news report.
ADNOC's interest in BP (BP) didn't progress beyond preliminary talks, according to Reuters report on Thursday, which cited sources familiar with the matter. Political considerations also weighed on the deal evaluation.
ADNOC and BP spoke directly in recent months and Adnoc looked for advice from banks on a possible transaction, according to Reuters. Adnoc looking at several options, including purchase a stake in BP.
BP was one of several companies that ADNOC has looked at, Reuters said. Adnoc has looked at other international companies in order to gain access to a larger gas and liquified natural gas portfolio.
BP (BP) has a market cap of $110.3 billion.
ADNOC and BP declined to comment to Reuters
Hi meoryou you are a busy bee
I bet you cannot wait for a holiday
Bp is looking good and holding above the £5
Have a fantastic holiday and enjoy your time with your family :)
Hi Spights
Just noticed I got a special Good morning this morning.
Been rather hectic
2 granddaughters had sleep over last night.
Been a long 36 hrs.
Especially the bit since woken 06:00 hrs.
They go home in 90 minutes.
It’s been fun, but I’m shattered.
I need a holiday.
On a BP note the steady foundation building for the next leg up in sp is encouraging.
Oil price still deciding what the new range is.
Personally think it’s in the Goldilocks range just now ,not too high( $90 is just perfect).
My knowlegeable friend has told me that this technology is very expensive, not widely commercialised and not as good as that developed by Shell and Sasol. Dampened my enthusiasm somewhat
Don't forget, if we move over to USA, there will be tax to pay on divis (even if they are held in an ISA)
What happened to the "No tax without representation ?" (lol)
Thank you spights & meoryou.
US shareholders can hold Shell shares - American Depository Shares (ADS) facility:
Shell plc has an American Depositary Share (ADS) facility managed by JPMorgan Chase Bank, N.A. Each ADS is equivalent to two Shell ordinary shares.
My stockbroker, Goodbody, just informed me that the shares were now in New York instead of Dublin. , only difference is you are subject to Currency variation. also you pay slight larger fees as a new york agent gets involved. I assume if I held UK shares it would remain as UK shares.
There was one comment on CRH chat from a guy who was having trouble due to Compushare anamally.
How does it work for holders on the LSE if the company moved to New York ?
What are the costs involved, do we have to convert our funds into US dollars and what happens when you sell shares in a New York listed company ? Surely every time the currency changes a percentage will be lost in forex fees ?
Are there protocols in place to reduce the effects of currency exchanges?
My CRH shares have risen 80% since they moved from FTSE to New York, while maintaining a placing outside the FTSE. So a move by BP could be positive.
He'll make more money in his first year in Abu Dhabi than he did the whole of his career - hence why he didnt fight the compensation clawback.
Nice little rise this morning, will sell some of my ISA holdings soon as I'm a little overexposed and this rise is exactly what I was waiting for
Talk about toxic, any firm that hires the lying philanderer would be pilloried. He would better head back to Ireland and mend fences (his first job before university).
Sold my Nov 23 holding at £5.27. I bought too soon then and probably have sold too soon now, but it met my criteria. GLA
Gingy
There are no silly questions.
You sometimes get surprised with the knowledge people have.
If you never ask you never find out.
The worst I have seen professionally is people who felt they could not ask a certain question,and then could never ask later because by then they really should know,and not knowing would not look good on them.
“There are things we know.
Things we don’t know.
And things we don’t know that we don’t know”
Https://www.xtb.com/en/education/uk-interest-rates-projections-in-the-next-5-years#:~:text=The%20latest%20forecasts%20are%20for,by%20the%20end%20of%202024.
Thank you. Silly question to ask, but I feel you have a better understanding than me. All the best.
Gingy
That’s way beyond my pay grade.
I mainly look for patterns after the event.
But mostly in oil and BP.
My own thoughts would be it will be delayed a couple of months, but that is totally a guess.