Member Info for Argentagold

Another tough day at the office !

Hi I am a regular watcher of this chat forum and get great insight by doing so.
I invested large number of shares about the time Bernard Looney become CEO. He confidently mentioned ‘sustainable’ when he raised dividend from 10c to 10.25 then to 10.50c and SP was moving around £5. Things looked pretty stable although US shale over production was causing market imbalance and worry. BP was exposed there with ex BHP Permian production.

All that was pre pandemic early February 2020, I still have an average price of £5.10 which then gave a yield of a respectable 6.2 % approx. Today dividend is down 50% or £9,200 p.a. and capital down about 140K (ow) - everyone’s BP story is different but in the words of Einstein ‘everything is relative’ . I am married to BP shares for some time to come. I have no real worries about that situation!!

‘Energy’ is the most wanted ‘commodity’ known to mankind. (heating, movement, lighting, cooling, internet communication Etc Etc) Almost all energy is sourced from our SUN at some point in time. Thus the SUN surrounded by green in the BP LOGO perfectly represents The New BP Energy Company. Remember 7.6 billion people, increasing by 80 million people a year are all needing more and more Energy to better their standard of living. BP’s green energy policy is the best way to meet this every increasing energy demand using the most cost effective and profitable sources possible long term. (Wether its Coal, Gas, Oil, Solar, Wind, Bio, Nuclear, Hydro, Hydrogen or whatever else crops up). A CHALLENGING BUT FASCINATION TIME AHEAD . They have to keep Shareholders happy and the new ESG investment fraternity too. Must not forget Greta nurenburg and her hysterical but well meaning band of followers, also the Climate Change Forum in Glasgow end of October (COP26). A TRICKY TIGHTROPE ACT TO PERFORM FOR CEO. LOONEY.

I short term trade a section of my Energy shares but I am C**P at getting the highs and lows in the market. In this irrational trade sector it’s sector sentiment (and overall market sentiment) that are the main cause of major moment in the share price of Big Oil and derivative Companies. Watch how the major shares move in NEAR TANDEM. (Watch shares of major Companies on www.oil price.com)

Individual share movement of BP to its peers only alters a percentage point or so depending on the nature of specific company news.

I am happy with my BP holding but I am envious of you who averages are in £2 /£2.70 Area. A number of good quarter returns could see upwards of 50% SP from todays price. It could happen very quickly if Sector Sentiment changes. Oil & Gas shares have changed big in the past sometimes in a ‘turn of a sixpence’.

Otherwise patience please! After this ramp it’s time for my bedtime cocoa.

All IMHO

Good luck to all.

All UK main bank shares Are up 2% or so this morning, what has caused this MM movement, not share demand or any specific news. Can anyone help with explanation?

Ed1
Everything is relative, my tobacco shares are doing quite well and 8% yield is OK too!

Perhaps SLA Plc on even straight Aberdeen Plc would be better easy too remember new names

Performance of This share has proved to be one of the best forgotten in my portfolio and with this new name it will be totally FORGOTTEN. (TIP: Best way to remember is Aberdeen without the all important three ‘e’ vowels)

The marketing expert who thought this one up must be an intellectual midget, hope it wasn’t the new CEO!

3:24

BP share has fared well against Chevron and Exon over last few days. Is this the result of share buyback. If buyback is now over SP is stand alone again.

A very short lived benefit to SP

Re :longterminvestor

Thanks for explanation on share buybacks being a fair way of ‘Returning value to shareholders’.

Does this mean the dividend per share will be increased on existing shares in the Company by $500m, ie the Q2 buyback (plus dividend saved for that quarter too). If so we should expect a raise in dividend in Q3 to 6 cents from 5.5 cents?

Share buy backs all seems a bit ‘Smoke and Mirrors’ to an novice investor like me! Although they do confirm the Company thinks their shares are cheap at the moment, which I agree.

£3.09

Thanks Spights for link.

£10 million share buy backs today with a total of $500 million buyback planned across three months in Q2. This tiny amount across this period of time won’t benefit the SP at all.

I understand it reduces the number of shares on the market but it seems a poor way of so called ‘Returning value to shareholders’. Apart from saving BP having to pay dividend on the buyback shares it seems like a total waste of money and won’t benefit the SP one bit.

Putting the money in more profit making CAPEX, even reducing debt by half billion dollars or increasing dividend by 10% all seem to make better sense to me, particularly the latter!

Can anyone enlighten me here?

There is a profit boom in the petrochemical business at the moment. Perhaps the wealthiest UK industrialist, Jim Radcliffe, owner of INEOS will be a happy man after buying BP’s entire and vast petrochemical empire this year. Mr Radcliffe’s previous deals with BP have proved a big asset to the INEOS empire and I’m sure this petrochemical bargain will be yet another invaluable long term growth asset for them.

Brian Gilvery help broker the deal with INEOS while CFO at BP. He left BP in June 2020 and become Executive Chairman of INEOS Energy in December 2020.

Any opinions ?

BP’s logo of the sun representing ‘Energy’ surrounded by the green representing ‘Life’ is perfect for the new era multi sourced ENERGY COMPANY that BP is planning for its long term ESG compatible future.

Planet Earth gets all its ENERGY from the sun. Energy stored across millions of years, generally categorised ‘Fossil Fuels’. (Peat, wood, coal, oil, gas and thermal etc.). The other category being ‘Renewables’ by capturing instant energy from the sun. (Solar, wind, hydro, tidal, nuclear etc.)

BP deserves great credit for the bravery in taking this gradual but well planned very positive change over of their ENERGY sources from Fossil to Renewable to meet the ‘Paris Agreement’ goals for carbon emissions.

Greta Thunberg and climate change activists must respect BP’s agenda for change as they are INDEED one of the best advocates to enable this massive WORLD ENERGY SOURCE CHANGE effectively.

BP’s sp has moved favourably against post results from Exon and Chevron yesterday. Sentiment for Big Oil will take time and a good consistent headwind to recover strongly, patience is needed. BP might gain a few percentage points against some other Big Oil as their green projects in the US and generally might play out in favour in time.

Meanwhile another half cent on the dividend (to 6c) would have been better for SP and a bit cheaper than 500m buyback in Q2 IMO

2.97

Will BP share price recover to pre Covid 19 levels of circa £5, I hope so!!

My portfolio was over half in oil and gas and as such the downside losses from the pandemic have been ‘eye watering’. BP at today’s SP is still my largest single holding. Ironically when Bernard Looney took over and increased dividends in Q3 and Q4 2019 I topped up generously at over £5.20, he said THEN the increased dividend was sustainable. At the time things were looking a bit tricky with over supply of oil due to US shale increased production plus extra green energy growth and anti fossil fuel sentiment from the ‘Greta T’ fraternity. Even so in early February 2020 before Covid the SP could have moved moderately either way up or down. (Bernard Looney was a bit ahead of the game and sold his £7 Million holding in BP in mid 2018/2019, thus spared himself the pain of seeing the same shares at £3.5 Million today)

Having said all that I have confidence in Mr Looney and the overall plan. Big Oil shares all move in tandem, the overall sentiment is the big mover in the market not an individual company’s quarterly results. BP might recover a bit of ground this time on any of the others after we hear first quarter results from Shell, Amarco, Exon, Chevron, Tootal etc.. this will only be the odd percentage point or so bonus.

‘Big money’ confidence will only recover gradually in Big Oil, it will take a few very good consistent quarterly results like this, a stable oil price and Covid being safely in the drivers rear mirror, in to get there.

$500million buy back in Q2 will have a drop in the ocean effect on SP but the 5.5 Cent dividend is almost ‘guaranteed’ sustainable. My dividend pre and post Covid is still about 6% held, but I have 140K less capital value invested (that hurts a bit!)

However you are trading, good luck.

£2.94

Hello all, two months ago there is a U TUBE interview with Bernard Looney made after the release of the very disappointing Q4 results.
He projected then a confident and improving position for 2021. Most of his predictions then are being improved on, debt write down schedule and buyback to be much earlier etc.

Copy and paste this link below to your browser. This is a U Tube 6.22 minutes interview.

https://youtu.be/3fZVU3D3VIE

BP’s 19.75 % holding in Rosneft is the jewel in crown of BP’s portfolio of assets. Rosneft has the biggest reserves of O&G reserves of any of Big Oil excluding Amarco, over 20 years at their current usage.

I hope Mr Looney (????) is not thinking of selling this stake to please the ESG brigade and the followers of the Scandinavian Doom Pixie, not to mention UK politicians.

I think he is on the board of Rosneft today!

Any thoughts?

SmithyS2019. Thank you for answer and link here, will study further tomorrow am

Hi, can anyone kindly explain the term ‘UT’ which often appears at end of day purchase or sale, generally after market close and for a large amount. There was a 41million trade in BP today!