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BP will be taken over this year, nailed on..
FTSE100
Jan 2000 - Oct 2023 = 10% Gain
Oct 2023 - May 2024 = 13.5% Gain
Funny, there are a lot of shares in the FTSE100 that could double from here.
(I am negative on the global economy though, interest rates are way too high)
WP
Couldn’t resist on Tuesday and bought another 1,000 BP.
That’s the real reason I prefer above £5.
It’s so much easier to say no.
Will trade them in a couple of weeks when they are £6.
Or maybe not.
Looks like it'll be a solid weekend meoryou,
Kicked off my GIA this week - couldnt resist a [small] dip back into Shell & bp as part of my UK leaders portfolio. Exactly the type of co's I need to balance the portfolio along with UK listed miners and banks.
Enjoy the sun!
Well there have been worse Fridays
Sunny day
Sp £5.10
Oil still at $84
Onward and Upwards
I know someone who probably would like at least another 25-30 p very quickly
Crude oil prices started moving higher early on Friday, set to book their first weekly gain in several weeks as China reported growth in exports and imports, and ceasefire talks between Israel and Hamas broke down.
China reported a 5.45% increase in crude oil imports specifically for last month, equal to a daily rate of 10.88 million barrels. This was lower than the March average, which stood at 11.55 million bpd but was still strong enough to warrant a change in sentiment among traders.
One reason for that was the news that the latest round of ceasefire talks between Hamas and Israel had failed to produce a deal, with Israel bombing Rafah despite warnings from Washington not to do it.
Separately, the latest weekly U.S. jobs report showed new unemployment benefit claims hit an eight-month high, fueling hopes of rate cuts despite recent indications from Fed officials they were going to take their time with the cuts. These hopes also helped oil prices tick higher.
OPEC+ meanwhile signaled it had no intention of changing its production policy at the next group meeting on June 1. While the update was not really unexpected, especially with the latest decline in prices despite the continued cuts, it did highlight the significance of OPEC policies for global supply dynamics.
“The crude oil market will remain beholden to OPEC supply policies,” ANZ analysts said in a note as quoted by Bloomberg. “Ongoing curtailments should support prices, but the market is susceptible to geopolitical issues.”
“Our balance sheet shows the market to be in deficit by around 1m b/d in the second quarter of the year before returning to a small surplus in the second half of 2024,” ING commodity analysts said in a Thursday note. “However, this surplus could disappear quickly if OPEC+ members decide to roll over their additional voluntary cuts of 2.2m b/d.”
Https://finance.yahoo.com/news/bp-looking-buy-teslas-supercharger-180123477.html
Getagrip
“The history book on the shelf it’s always repeating itself”
Think most of John Brownes mergers happened on the golf course.
Perhaps it all awaits the general election,so they only have to deal with one party.
Nothing worse than getting the nod, then changing horses half way and having to start to please a whole new set of politicians.
MOY - I think they must still have a room at each HQ dedicated to Shell & BP merger discussions, which probably even predate what Lord John Browne stated on regrets in his autobiography. As you know his final chapter was a UK court lifting an injunction on publishing revelations about his private life - how the past has come back to haunt BP!
Congrats to those who bought yesterday at 490-492, well done
JAB, If as appears likely, Starmer becomes PM then delisting in uk might be a very attractive option God help us
Within the framework of an eight-year offtake agreement, UK-based tyre pyrolysis specialist Circtec will annually supply energy company bp with up to 75,000 tonnes of fuel and feedstock recovered from end-of-life tyres. Circtec will process these tyres at a plant it will set up in The Netherlands. In support of this offtake agreement, bp is providing Circtec a €12.5 million debt finance facility to contribute to the capex for expanding this plant into a commercial-scale operation.
Https://www.livecharts.co.uk/MarketCharts/brent.php
Thankyou for all the excellent posts
Beautiful sunny day :)
BP plc will continue to pump out “prolific” natural gas volumes from the Haynesville Shale as hedges are in place pricing the supply at around $4.00/Mcf through this year, CEO Murray Auchincloss said Tuesday.
For UBS, however, the main takeaway from the update concerned the company’s confidence in its 2025 earnings guidance, which currently sits 16% above the City consensus.
Reiterating its buy rating, the bank highlighted the potential for earnings and dividend growth and said the valuation looked undemanding at a 10% discount versus peers.
What has been awarded is the maximum they can receive which is highly unlikely - they haven’t just been handed that amount today. Do your research before spouting nonsense please
The share buybacks improve the EPS. Nothing improved in the business, but bonus measure delivered. Easy work if you can get.
Obscene ….they already trouser more than ‘cancer surgeon salaries’ for the very short period they have been learning the ropes around the complexities of ‘the counting of the BP beans’.
Not to worry - the BoD can just issue a new block of shares to make up the deficits.
What was all this buyback smokescreen ?
Thank heavens these extra extra bonus awards are performance related.
What performance KPI, one wonders ?
Transaction in Own Shares
BP p.l.c. (the "Company") announces that on 8 May 2024 it has purchased, in accordance with the authority granted by shareholders at the 2024 Annual General Meeting of the Company, a total of 4,581,151 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 7 May 2024 (the "Programme")
Did anyone take a look at the shares issued to Murray and Kate today.... absolutely disgusting, £11-15million in freebie bonus when shareholders have seen their value shrink today.... Something needs to be done about the insane remuneration committee's especially the one at BP.
Getagrip posted this on the Shell board
“Wael Sawan will not necessarily go down in economic history books as the CEO who did a lot of buybacks, but he will if he takes over/merges with BP - it must be something he is considering!”
My reply basically says they wouldn’t be doing their job right if they are not at least discussing it
Does anyone really think we will get taken over or delist and join U.S.
We have been hearing all this positive news for 2 years now, yet struggle to get over 550.