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Morning Spights and all
I always said we are worth £8 in a take over.
Shell even thinking about a move to US is a game changer.
BP likes to be a trend setter, but I just see them being slow to act.
Onward and Upwards
Meoryou I love your thought.
What would the price be then
At least £8 :)))))))))))
Https://www.livecharts.co.uk/MarketCharts/brent.php
Good morning all and meoryou:)
Here is a little thought
Shell decide to list in US
BP stubbornly stay listed in UK.
18 month later Shell have indeed been re rated.
Just before BP decides to follow Shell to US,Shell use their newly re rated shares to buy out BP ,taking advantage of a 40% -50% increase in sp.
BP have stubbornly managed £6.( about 20%)
Could you see it playing out
Great link getafgrip !! Hoped this would happen, but didn't think it would !! The EPL is a morally illegal tax, but the wheels do turn eventually !! Wonder do Starmer and his cronies really understand this Reality or will they still increase the EPL anyway ?!! All we need is for SHEL, BP., HBR and others to exit UK to give the politicians a good kuck up the a..e !!
I do note the distinct lack of hubris in Wael's comments - not even been in the job 18months and he's already beating "the SP is not my fault" drum
ST:
I couldn't agree more. Wael Sawan's statements- I think it is more than just an early warning, but big companies can direct Governments, particularly with elections in the offing;
https://uk.finance.yahoo.com/news/shell-threatens-quit-london-york-111116631.html
So, reports that Shell is looking at NY over London for a listing, saying they are undervalued here. That would heap pressure on bp . . .
Thanks WeirdPal, I've just ordered that book. Looks good...
WP
Agreed Vitol will probably do things for profit that we are glad BP don’t do.
Will look into that getting that book, ( looking for holiday reading anyway).
Thanks
Meoryou, I imagine Vitol have dealt heavily in urals which has boosted their profits no-end. Trading houses run towards risk and have no qualms about circumventing sanctions/dealing with questionable regimes - have you read 'the world for sale' by Javier Blas?
Hopefully a sign for BP Trading also
The world’s top independent oil trader, Vitol, booked a net profit of $13 billion for 2023, wrapping up a second consecutive year of very high net income following record 2022 earnings, the Financial Times reported on Monday, quoting sources familiar with the privately-owned group’s results.
The disruptions in the energy markets and the high volatility in commodity prices in 2022 and 2023 benefited the largest independent trader, and all other major independent trading groups such as Trafigura and Gunvor, but Vitol’s earnings far outpaced those of its closest rivals.
Kate Thomson Chief financial officer / director
Shares acquired through participation in a dividend reinvestment plan (DRIP
Shares 2086
Cost per share £5.0855
Total cost. £10,608.35
Interesting this has been picked up on the board now when it was said at FY results - lets hope MA sends a clear message to the market - pulling back on green investments (or punting them into late 2020s) and opens the taps. They'll be a lot of societal pressure but the SP will rocket on the expected earnings increase
Exploration, "governments don’t trust BP." Which governments don't trust BP and why ?
Personally I can't wait to get out out with all the green wash being banded around. l feel BP as an oil company has had it's day, and I can't see the same returns from green energy. Too many at it. Oil price is only going in one direction if we see a return to some sort of normality around the world, with the atrocious things we see happening.
Just an admission of what many of us have long known that the Net Zero transition is bulcaca and BP will never make any money from it.
Need to focus 90% of our effort and capital on oil and gas. While Exxon is at an all time high, BP is in the doldrums. All down to the transition rubbish.
All IMHO DYOR
Happy
Auchincloss says no change in BP strategy - and 8 weeks later changes it. Latest interview - claims BP can change world oil prices - what’s he on?
"We see growing demand for energy right now across the globe," he told the New York Times. "It is not slowing down." As a result, BP is "going to invest in today's energy system, to help make sure that prices don't get out of control," Auchincloss explained to the news outlet. "So that's investing into oil and gas."
With McKinsey disciple Looney out of the way, the new CEO has stated the obvious. For every barrel BP didn’t produce Exxon, Shell and Chevron produced it instead. But whoever is advising him led him to claim that BP increasing oil production will affect world oil prices. Obviously nonsense.
BP’s reserves/production ratio is lowest of majors, there is no business renewal plan for oil/gas, Looney fired all the upstream experts and governments don’t trust BP. No-one cares if motorists bought 21 million cups of coffee from BP last Tuesday. It’s barrels/day, stupid.
This about-turn might save BP but one has to wonder why all the high-paid help on the Board and Leadership Team are still in their jobs. After all they’ve presided over the biggest disaster for BP since the Macondo blow-out in terms of lost value in the recent past and certainly in the future.
Vote’ them out at the AGM
Hi Gingy
“BP will be impacted by downtime at Whiting and Freeport LNG".
That should not be a surprise as it’s well known,so expecting a reasonable announcement,due to oil price, but not spectacular.
It’s what the market makes of it that counts.
But markets are meant to be forward looking and with oil above $90 it’s easy to feel optimistic about the rest of the year.
But that can change in a moment
Hi meoryou. It sounds like we're going to get knocked back on Tuesday then.
Many thanks for the reply.
I'll sit tight a little bit longer. Some very good constructive comments here. Shame some of you aren't on the BoD at BP. Enjoy the remains of the weekend. STH.
Yes the 80% return to shareholders includes buybacks.
Welcome to the board