Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
This is true, and at a guess BP talked the Government down off any talk of windfall taxes. I'd expect after another quarter at these prices we will see further commitment to Green tech from BP, again to appease the Green wing. And I say this, WHY NOT they are printing money right now, who better to invest in clean green energy than a company with PLENTY of CASH who doesn't have to go into further debt (or tap jittery debt markets) to fund that transition. BP should be cheered on, let them earn the money from Oil and Gas and let them ENCOURAGE them to transition. This will be 450 by end of March, the wind is in our sails.
Well done, I couldn't transfer money quick enough to double down here but happy to do so should we see a dip again. Agree with another poster below that a special divi from the sale would soften the blow to shareholders should this not recover to 450-500 in the next two quarters.
Exactly, and not only that, the write down will be politically expedient while the focus is on high energy prices and high petrol prices BP will book a minor loss in the next two quarters and all talk of windfall taxes will disappear.
I don’t get how people are “ramping” a company that earned 922 million last quarter ? WTF. Sure this might drop but by late afternoon when sense has caught up to fear and misunderstanding then price will rebound. Gutted I do t have the cash in the right account to pick up more.
What was the share price after deep water ? How much did that cost ? 14.5 billion write down will be a politically convenient tax write off and avoids any more talk of windfall taxes for the next two quarters. There will be a nice entry point tomorrow at 345 and see these fly back to 400 now this is out of the way. Bravo BP but they’ve seen a nice opportunity here.
Of course, everyone has their own risk tolerance. It would be wise to be in cash today to see how this pans out. Those who missed the ride to 170 may be able to get back in at a nice entry point. OIL going over 100 is obviously bad for business but apart from war things are getting back to normal, will we see previous ATHs probably not (with the current debt) but recent 170s 180s will be seen again before spring.
SENSE!!
UK and USA have said major sanctions on banks and Putin's cronies. They will target that rather than the UKs interests. The UK needs companies like BP to aid in the transition to greener fuels. BP Is a cash machine and what can they do with that cash
1. Pay off debt
2. Buy back shares
3.Increase Divi
4. Spend BILLIONS on energy transition and still have cash left for 1,2,3 above!!
Slightly gutted now, I didn't hop over to them earlier in the year. They have matched our share price rises fairly consistently these last 12 months and they've just overtaken us! Still, I keep the faith and don't worry too much as I'm up. Several 000's agree with it should clear once all that 450 this Ukraine business settles down. I'm looking for a pre-pandemic exit price. Think 10 quid will be a stretch unless we are at 100 POO in a year.
We always drop first thing as the Algos try to get a handle on the situation. Wait till 12pm for the usual rise. We might fall under 400 BP would be happy to buy back more shares at that price. Goldman is in charge of the buy backs and they are no idiots.
Listened to an Oil twitter conference last night, main take away supply destruction from the last three to four years is going to send Oil over 100 it's just a matter of time. Oil demand destruction is estimated at over 150 a barrel If you own BP follow Josh Young on Twitter for good insight into the market.