The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen 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.
Meoryou.
My time scale is the next 4-5 weeks I think (subject to the process)
Jezzoo
What’s your time scale.
My thoughts are be aware right now of sell in May.
Last 3 years there has been a top in early May.
If you have time this has been followed by higher highs later.
Been in the same position,usually like to lock in a chunk at an acceptable price ,then take a chance on the rest( a little gamble to see if I can improve on sp.)
I’m sure you know what you are doing.( at least as well as any of us know)
I'm focusing on the day to day because I'll be selling 90% of my holding to buy a house very shortly and I'm looking for a sell point.
Each to his own.
As most of you know, I'm not sure we'll see any major movements on earnings - mgmt has set out its stall for the next 2 years re: buybacks and I anticipate any good news re promised 4% uplift in divi's is baked in. Based on other oil majors it seems this earnings is set to be a non-event. Q2 may be more interesting as it looks like we're sustaining 85-90$ oil... which starts to raise the prospect of potential M&A as oilers are just generation so much cash.
As always, its pointless focusing on the day to day, zoom out to 2 years+ I say and base your actions on this.
Good morning meoryou:))))))
OP has dropped nearly 5% since Monday, the SP of the oilies moves in tandem almost, just follows it up or down in a real time situation. Individual SP's move independently on company news alongside this OP movement impetus.
I'm surprised BP hasn't dropped more in line with OP which tells me that despite the drop in oil BP has risen in real terms and will bounce back strongly when the OP turns back north.
I watch Exxon,Chevro,Bp,Shell in US markets.
What I do notice is they don’t always move in the same direction ( or often as much as each other).
Something BP moves in step with them sometimes it appears to be doing catch up.
Eg one day BP seems to be in favour,more than the other three.
Then a couple of days later when they all fall,BP has further to fall to catch back up.
I suspect it’s rotation between the different companies in the sector.
At this moment in time it’s also a function of who has reported and who is still to report.
Anyone any idea why this is going down and down a high of £5.39, yesterday hit 5.29 until US opened and tanked.. is it earnings related and we are building up to a bigger drop on earnings as results will be not as good as last year
Morning Spights
They certainly don’t seem to be hanging about.
It must help earnings going forward.
And not directly linked to oil price.
Https://www.livecharts.co.uk/MarketCharts/brent.php
meoryou excellent news
From the COPL BB
(Shareholders have formed an Action group: CAG)
COPL have MASSIVE OIL (Circa: 1 Billion Barrels) discovery in Wyoming, however company has been run down 99.% in past 2 years.
- See Copied "STAS20"note below
RE: KSV Advisory - New Documents Added
25/04/2024 - 18:10
RBM that was a serious question as regards recruiting BP, I think there might be merit in Cotter contacting BP and bringing them up to speed with what we know and if they might wish to join the fight, particularly as based on the below, they are now also being shafted?
BP Energy Company's main objections to the proposed Approval and Vesting Order (AVO) are as follows:
1. Prejudice to BP's Interests: BP argues that the proposed AVO is prejudicial to its interests because it seeks to sanction a preference of one creditor over another of equivalent seniority. The order fails to meet the requirements of the Companies’ Creditors Arrangement Act (CCAA) and further fails to meet the criteria for the extinguishment of third-party interests.
2. Failure to Meet Statutory Requirements: BP contends that the proposed AVO fails to meet the applicable statutory requirements for approval under the CCAA. It highlights section 36(6) of the CCAA, which stipulates that proceeds from the sale of assets must stand in place and stead of the assets, with security attaching to the proceeds with equivalent priority. BP argues that the proposed AVO does not adhere to this requirement, as it directs proceeds to a singular creditor, thereby undermining the legislation.
3. Violation of Common Law Principles: BP asserts that the proposed AVO also fails common law tests, particularly in terms of fairness and equity. It cites the Soundair factors, which include considerations of whether sufficient effort has been made to obtain the best price, whether the interests of all parties have been considered, and whether the process has been fair. BP argues that the sale process was flawed, with efforts to market the COPL assets being limited, and the process stifling participation without delivering any consideration back to BP.
4. Reordering of Priorities: BP objects to the proposed reordering of priorities in insolvency proceedings, which it views as contrary to legal principles and prejudicial to its position as a senior secured creditor. It argues that allowing certain creditors to lift their pre-filing debt to a priority position ahead of other existing claims is akin to a rollup, which is prohibited by section 11.2 of the CCAA.
Overall, BP contends that the proposed AVO fails to meet legal requirements and common law principles, and it advocates for the rejection of the application.
(Apologies - it is a long thread, but quite interesting)
Julianne Geiger
JULIANNE GEIGER
Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.
More Info
SHARE
Facebook
Twitter
Linkedin
Reddit
RELATED NEWS
Ukraine Asks Europe to Help Protect Gas Storage Sites From Russian Strikes
Alberta First Nation Challenges Imperial Oil on Energy Transition Impact
Petrobras Books 4.4% Rise in Q1 Oil Output
Rystad: Global Upstream Could See Another $150B Merger This Year
Iraq To Start First West Qurna Gas Production This Year
OPEC+ Overproducers Present Plans For Cutting More Oil Production
By Julianne Geiger - Apr 30, 2024, 11:30 AM CDT
As part of their commitment to compensate for exceeding production quotas, certain OPEC+ members have submitted detailed plans outlining how they intend to implement these compensatory cuts.
Both Iraq and Kazakhstan, nations that had surpassed their agreed-upon oil production targets by several hundred thousand barrels per day in the first quarter of the year, have submitted their respective plans to the alliance. Kazakhstan's Energy Ministry confirmed via email that it has finalized its schedule for compensatory cuts. Iraq has also submitted its proposal, an anonymous official familiar with the matter told Bloomberg.
However, the Iraqi Oil Ministry has yet to provide official comments on the matter.
The OPEC+ coalition, spearheaded by the largest producers in the group, Saudi Arabia and Russia, had initiated additional production cuts at the beginning of 2024 to mitigate the risk of a global oil surplus. Despite apprehensions regarding economic growth in key consuming nations, this intervention has proven somewhat effective and helped to maintain Brent crude futures around $90 per barrel.
Both Iraq and Kazakhstan—and others—have struggled to adhere strictly to their OPEC+ production quotas. Iraq, aiming to rebuild its economy following years of turmoil, often prioritizes revenue generation, while Kazakhstan is in the process of ramping up new production capacities.
The upcoming OPEC+ meeting scheduled for June 1 will serve as a pivotal moment to decide on the future course of action regarding output curbs for the second half of the year.
Earlier this week, OPEC Secretary General Haitham Al Ghais called on oil industry participants and analysts to be careful about their predictions
WTI Finds Support After Sell Off Suddenly Halts
Tuesday, April 30, 2024
The de-escalation of the Israel-Iran conflict and ongoing ceasefire talks in the Egyptian capital city of Cairo that could potentially halt hostilities in Gaza have lowered the geopolitical risk priced into oil prices, dragging Brent back to the $88 per barrel mark.
I try to ignore, rather than wonder, ' today's ' reason for fundamentally baseless movements either in SP or oil price. It took many years of unnecessary worry to get to this point.
Well it tanked for a bit !
I would not describe oil as tanking. Similar retracts have soon reversed. Just fiinancial market's play on possible middle east peace talks progressing. I expect no deal is possible. Been here before. Also Fed meeting causing a market wobble.
Peak season will soon be here so just a blip.
Im focusing on fundementals
Thanks meoryou, that would do it !
DOW down over 200 points.
“Stocks traded into the red Tuesday after higher-than-expected wage data raised fresh inflation concerns ahead of the Federal Reserve’s rate decision on Wednesday”
From CNBC
Can't see why ATM
Anyone else think BP is still in play for a takeover
Https://www.livecharts.co.uk/MarketCharts/brent.php
Out for the day
Onwards and Upwards:)))
So far this year, the global upstream oil and gas market has seen more than $64 billion in mergers and acquisitions, and the year could still see more mega-deals, according to the latest report from Rystad Energy on Monday.
While recent deals have focused on the Permian Basin, Rystad says it is looking to other American shale patch venues for the next big deals amid an ongoing trend of consolidation.
The $64 billion in global M&A value booked so far this year is the best Q1 performance the industry has seen since 2019. The $64 billion also represents a 145% jump in M&A dealmaking in the industry compared to the same quarter of last year. North American upstream M&A accounted for almost $54 billion this year, representing around 83% or the total value of deals so far this year, Rystad said, as reported by Reuters.
According to Rystad, North American upstream deals for the first quarter of this year came in at $54 in value, and $80 billion in North American oil and gas assets remain up for sale. Rystad estimates that the American shale patch will account for the bulk of new M&A activity.
“The Permian has been the focal point for M&A activity in recent times, but that focus is waning as available assets in the basin become scarce. But with appetite still strong, deal-hungry players are looking outside the basin for acquisitions. A power shift could be on the cards, with non-Permian assets taking center stage in the future North American deals pipeline,” Rystad Energy’s Atul Raina, Vice President of Upstream Research, said in a report.
Attention will now shift to Bakken, Marcellus and Haynesville assets, with key companies still looking to divest non-core assets, including Chevron, which is seeking to divest up to $15 billion in assets by 2028
All eyes on results! Hopefully oil trading has had a banging quarter with the upward volatility in Q1 which will make up for refinery downtimes