Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Moy, there is a definite positive change in the oil price momentum, but the headline is misleading. BP's own data since 2023.
Average Brent oil price.
Q1 23-$81.17.
Q2 23-$78.05.
Q3 23-$86.75.
Q4 23-$84.34.
Q1 24-$82.89(to date).
25 years of ISAs: what we have learned
https://www.fidelity.co.uk/markets-insights/personal-finance/personal-finance/25-years-of-isas-what-we-have-learned/
Big companies to leave UK for Newyork
Crikey meoryou, Tesco better watch out !!
WP
agreed
The longer the market undervalues BP the bigger the mistake they will have to correct.
With buybacks this error is being magnified.
If the disconnect between real value and sp gets too big.
Someone will find it too big a bargain to miss.
Meanwhile the fundamentals will continue to improve
Said it a million times before, don't get dragged into day to day movements if you're in an energy/utilities stock. We're so driven by macro forces that its wasted energy.
As long as I think the business remains undervalued, is generating healthy levels of cash, strengthening the balance sheet and continues to pay a competitive shareholder return for the sector I'm happy to hold, collect the divi and wait for the rise.
Macro factors I see are:
1. War is ongoing and disrupting energy supply chains
2. Inflation is coming down and supply remains tight, bullish for oil price
3. Saudi princes magic mushroom dreams of building ski resorts in the desert remain
4. US is now the worlds leading oil producer - if they slow production (e.g. political, operational reasons) then oil price booms
Monday was the day , 505, I waited expecting the peak to be Tuesday,we're now 15p down
Might not be under a fiver if we concentrated on oil and gas rather rather than fecking cream eggs and sausage rolls!
Trying for a little feel good factor since we are back below £5
Https://www.bp.com/en_gb/united-kingdom/home/news/press-releases/easter-egg-stravaganza.html
But
“Meanwhile, gasoline inventories fell this week by 4.437 million barrels after falling by 1.574 million barrels 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.”
So demand still there.
Would only start to worry if next week was similar big crude build.
Figures have been all over the place for months
Crude oil inventories in the United States rose this week by 9.337 million barrels for the week ending March 22, according to The American Petroleum Institute (API). The API reported a 1.519-million-barrel drop 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 another 0.7 million barrels as of March 22. Inventories are now at 363 million barrels—the highest point since last April.
Oil prices were trading down ahead of the API data release on Tuesday despite the Ukrainian drone attacks on Russian oil refineries that so far have knocked out an estimated 900,000 barrels per day of total refining capacity..
At 4:02 pm ET, Brent crude was trading down 0.78% on the day at $86.07, down roughly $1.40 per barrel compared to this time last week, but up nearly $5 per barrel on the month. The U.S. benchmark WTI was trading down on the day by 0.51% at $81.53, down roughly $2 per barrel compared to last Tuesday.
Thank you .. very interesting
BPinvestor, sorry, senior moment. All the best
Found this youtube video on Hydrogen engines at JCB. Very interesting. Recommend a view.
https://www.youtube.com/watch?v=H6_qAta3Gk8
Gingy, we've gone ex-divi already. It's divi payday end of this week. Time to re invest, not sell .......
is the **** going to drop out of this when we go ex dividend. it looks like it's getting ready to.
Genuinely an interesting development in the world of Russian O&G assets. I think the crux here is the payment is in roubles and Shell will have to eat any FX to get them back into USD. Also this has been sanctioned by the russian gov, so there genuinely isn't anything US/UK or the EU can do about the transaction itself. Shell will just turn around and say well this was a russian govt idea and we had nothing to do with it.
This seems to be much more a banking conundrum than an asset sale question - how will Shell get the roubles out of a Russian bank account? Will Putin allow them to transfer the funds out of Russia? Will western governments allow them to onshore the cash without heavily penalizing it? I highly doubt it.
Not sure what it means for bp-rosneft stake however, which is a sizable chunk bigger than a stake in an oilfield. Gazprom can eat a $1bn charge many times over, but can it eat a $12-$13bn charge to buyout bp at a time where putin needs cash for his maniac war? I'm not so sure.