We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Happy has disappeared i was to believe that cars can run on water down a vertical mine shaft from BP chief exzec
I can comment you are a misogynist I will not answer woops I have nice comment for the chief exzec of the company BP that's who I am sir git
Thanks Cong. I'll do some research on her. I hope she presents at Q3 results.
Flummoxed, Invstrat - of course, you can read or not read whatever you please but your comments are puerile. Do you have anything useful to say? Genuine question. Actually, don't bother answering that, please!
Best
Happy
Not reading all that lol
We hold our breaths, until you decide then ……..
Hey Happy, his replacement is Anja-Isabel Dotzenrath, I read a few articles and think personally her coming on board will bring a lot. Sorry too lazy to find the links, but she seems a great fit
https://www.cmcmarkets.com/en-gb/news-and-analysis/bp-share-price-underperforms-despite-a-natural-gas-lift
A good and balanced view of BP's strategy and performance.
I do share the lingering concerns many here have about the pivot to renewables and I hadn't realised Dev Sanyal the renewables chief had left (surprised I missed that news). However, I didn't think Dev Sanyal was very credible or competent and I do hope the replacement is more rigorous and coherent in articulating BP's plans underpinned with hard numbers, such as on margins etc.
I am willing to give Looney a chance despite my initial misgivings of his strategy. He has delivered all the things he said he would deliver operationally and financially, helped by the tailwind of very strong oil and gas prices. He can't control the share price but I am increasingly convinced better SP performance will follow in short order.
I think our wildcard is our brilliant trading division (Exxon tried to set one up but it's been a total flop!). Our trading division (BP Global Energy Trading https://www.bp.com/en/global/bp-global-energy-trading.html) is as easily good as Vitol and Trafigura, and I am sure it is very, very valuable although they don't disclose separate figures. I see a big future for it during the shift to net zero as oil and gas markets become much more volatile and there is a need to balance demand and supply across geographies and time horizons. However, this is another business BP could easily sell for top dollar to return more cash to shareholders (over and above existing guidance announced last quarter).
I think there's scope to modulate the strategy while still being consistent with the ambition to cut oil production by 40% by 2030. There should be more emphasis on returning cash to shareholders and turning the dial down a notch on building up gigawatt capacity in renewables (aka RDSB, which is focusing very much on cash return and becoming smaller rather than pivoting fast).
My fundamental argument is that our assets are undervalued because the market is not entirely clear what the pivot to net zero means for our medium term capital allocation strategy. If one could remove that uncertainty by demonstrating more vigorously an intention to prioritise cash return to shareholders over investment in renewables, a stronger rerating would follow (note the surge in RDS's share price upon the announcement of the Permian sale and $7bn cash return to shareholders).
I think in all this we would do well to remember Looney is a BP insider and, by all accounts, one of the best Heads of Upstream BP ever had before he became CEO. He negotiated the excellent purchase of BHP assets and initiated some of our very best projects (that are now coming to fruition).
So many questions and so much to look forward to! I might even write to Looney soon :-)
Best
Happy