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Wonder if my £5-10 estimate at Christmas will be on the money?
Let's hope it starts with a 6 lol
Brent 81.70$
Another load of c…
Https://www.livecharts.co.uk/MarketCharts/brent.php
Onwards and upwards
Https://oilprice.com/Energy/Crude-Oil/Russia-Iran-Oil-Sanction-Talk-Returns-Amid-Weaker-Prices.html
Onwards and upwards
Meoryou, good link, is anyone wants to track this valuable asset, they can do so here :- https://www.vesselfinder.com/?imo=7382732
where it asks for the vessel, type Gimi (she's currently doing 5knts (how sad am I?)
Https://lngprime.com/asia/golars-flng-leaves-singapore-to-start-tortue-job/98116/
Meoryou - time flies! I sold here around Feb time. I'll let you have an update as to how the portfolio i reinvested my bp capital in is doing on the 12 month anniversary.
Good luck with your investment here.
Hi Zac
Nice to see you pop in from time to time.
Have noticed some of your posts on other boards at times
I suspect you are right, but it was just something new I had found,which I felt like sharing.
On a BP note,we appear to be below your price you got out at so except for timing which none of us get exactly right,it certainly looked like you did okay.
Probably more of a measure as to the effectiveness of their marketing/pr activity than anything else!
But just been viewing a site that tracks positive news items on companies
Over last 90 days 48.2% positive news items on BP
Over last 30 days 49.1% positive news items on BP
Over last 7 days 60% positive news items on BP
Maybe time we were more loved again.
Note over last 7 days 20% neutral and only 20% negative, so 3:1 positive to negative.
Ps I haven’t a clue if it means anything
Meororyou
As always, you raise a good point.
However, I don't think there will ever be any such thing as a "renewables" company or a true Integrated Energy Company (IEC), as Looney liked to repeat often. One could argue that the likes of Total are the closest thing today to an IEC, but the problem is that there's little crossover between different renewables technologies. The technologies and skills for solar are very different to wind, and hydrogen is different yet again. Some technologies are mature (if not widely adopted) while others are in their infancy and unproven commercially. What future is BP actually betting on when its renewables investments are so widely, and i would argue thinly, spread?
Looney often used to say large corporate customers are looking to BP to help meet their Net Zero needs by delivering balanced energy from different sources i.e. an increasing component from renewables. But I can't imagine a day when the production of energy is seamlessly integrated with the delivery of energy (e.g. the grid). It is for the grid operators to make decisions about where, when and how they source the energy needed to balance the demand of end-users. There will always be a very important part for oil and gas in a mixed energy system.
Interestingly, Exxon is playing this conundrum by moving into areas such as lithium mining, where it believes commercial returns are more visible than producing renewable energy. Mining also requires a lot of energy so there is a degree of complementarity to its existing oil and gas business. Being an oil and gas producer could give it a potential cost advantage versus traditional mining companies.
Ultimately, I think BP is on the cusp of a more fundamental pivot back to oil and gas. I think for the second time in its history, Beyond Petroleum will be quietly shelved by a new CEO and drill, baby drill will be the new jukebox hit. What would really put the cat amongst the pigeons is a Republican victory in the US Presidential elections in November 2024. This would probably kill off Net Zero for good.
These are interesting times and I hope we get a US CEO from Houston to navigate us to a better place.
All IMHO DYOR
Happy
Happy
I read an article today which suggested that Exxon, was committed to staying an oil and gas company ( which we know).
But considered that if in the future the time was right to follow BP and Shell.
Then Exxon had just proven it had very deep pockets, and could then spend $60 bn on a renewable company to give it the energy exposure to renewables.
For Exxon that may actually make sense.
Food for thought
If there is no merger between Shell and BP (which, if it happened, I would support as a shareholder in both), the two should, at least, merge their renewables assets into a separate legal entity (e.g. a joint venture company). They can retain 30% each and raise equity against the remaining 40% in an IPO listing publicly. IPO proceeds can be reinvested in the new business.
The advantage is that the new company would need to explicitly and transparently justify its decisions based on sound commercial logic, rather than because it needs to pander to the green lobby.
Shell and BP should focus only on oil and gas.
All IMHO DYOR
Happy
I thought the vast majority of solar was via Lightsource BP,which BP owns 50% of.
Their model is mainly to finance via debt against future earnings or to sell all or part of a fully developed project to fund future development.
Thus BP does not use its CapEx to fund their developments,or have I got it wrong.
Ouch, what a sh$t show. They really need to stay within their core competences, ie dirty to green liquids and gases. If you are head of renewables, obviously you want to go for everything including solar and wind. No, no, no!
I am all for it and hold several green cos, including JLEN and UKW. Just not something for BP.
This bit is what I find very interesting
“ There's more: Opec+ is clearly not happy that the US is so openly on the side of Israel in the Gaza conflict. And while the oil price drop is the main cause, "members are also indignant at Israel’s war on Hamas and the humanitarian crisis in Gaza" the FT reports, adding that "Kuwait, Algeria and Iran are among the Opec members most agitated by the conflict."
“You should not underestimate the level of anger there is and the pressure leaders in the Gulf feel from their populations to be seen to respond in some manner,” said another person close to senior Opec figures in the Gulf, effectively confirming that an Opec+ production cut would directly target Biden's policies meant to keep the price of oil (and gas) as low as possible into the 2024 election.”
If true they intend to give Biden a bloody nose
I do find it worrying that he seems totally oblivious to the fact there might be a problem.
Our market, and it’s not just BP has a strange way to find the value of a company.
It’s not earnings that seems to drive value here.
It’s not potential.
It’s not even if there is a chance however small of a takeover.
And before someone says it .
I know what drives value of a company here is sp driven by buys and sells.
But we all probably have several shares whose value does not appear to be in line with their future prospects.
Meoryou, yes, of course he would. He may well be right wrt IPO valuations, but thereafter just look at sector multiples. Huge gap. Lack of confidence in UK plc and currency post Brexit , Americans/their pension funds allocating more funds to the US market. Lots of reasons. The US market is possibly overvalued, but it is what it is.
Crh is prime listed usa secondary list uk, not listed in dublin, but still registered as irish company subject to irish taxation. Not sure of uk company being able to remain uk registered if not uk listed