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BP has previously said that 10,000 people will leave by the end of the year
- another reason why they had to cut the dividend...you can hardly lose 10,000 people and continue a full dividend in the current situation and come out smelling of roses
SHELLl has spoken about Voluntary Job Losses but they havent talked of numbers anywhere near what BP announced as yet
SHELL have previously said in May :
" There could be further redundancies related to the pandemic in the second half of the year.
Over the coming months we will go through a comprehensive review of the company."
The CEO wrote that SHELL will have a clearer picture of what the reorganization of the company will look like by the end of the year, with some divisions being affected more than others
so..in terms of the employeee numbers BP is ahead on the decision making and that may be what the market likes with regards to BP , and is still awaiting from SHELL
BP Redundancy news - https://www.bbc.com/news/explainers-52966609
SHELL plans - https://www.bloomberg.com/news/articles/2020-05-21/shell-plans-voluntary-job-losses-to-mitigate-impact-of-oil-slump
Hi, no I don't see any chance of a merger between the two. But merely pointing out rumours of that happening is the only way shell can see £18. Like you say, £12 £14 is more realistic imo , though I would be happy for it to stay around these levels till next update in November. Then see what BOD have to say then.
£18 is out of reach for the short term, I think £14-£15 is a sensible price target to aim for in the current climate. I do feel like BP would be a takeover target for an American outfit with their large natural gas presence in the states. I’m hoping Shell stay clear of a merger and stick to the game plan. That’s me for today. Good luck all!
When i held shell & BP 15 years ago, a merger between the 2 was often mentioned more in jest than anything else. Forward 15 years & it doesn't sound so far fetched. It's the only way I can see the shell share price getting up to £18 over the next year or so.
So the BP update is basically a copy and paste of ours. Moving away from Hydrogens into Renewables. I knows its been said time and time again but would now be a good time for a merger. How powerful a group would that be. How much savings could be generated.....
Very decent day for us though and Oil seems quite happy.....