Member Info for Chandley-1976

Halma, because most people dislike those who have more than they do. It’s easier to resent someone and cast blame than make some effort and better yourself. Lefty principals.

I saw an article yesterday which said; Rishi has a new pool installed at his house whilst his local leisure centre closes. How are they linked!?! But the suggestion is that Rishis got a new pool at your expense.

Sure, I’ll never vote for the guy after his self employed persons rip off at the start of covid, and then his windfall tax pandering. But the whole ‘hate him because he’s made a good life for himself’ thing has been embarrassing. Even Truss used it in her campaign.

It’s no more acceptable than using somebody being poor against them. But as I say, it’s OK and even makes you a good person to resent somebody who’s done well right?

Exactly Hamm. Everyone was happy to take 110p diesel in early 2020 without mentioning how much of a bargain it was whilst the sector suffered for several quarters.

Now it’s 190p and everyone’s up in arms about how unfair things are. People are blinkered one sided idiots, plain and simple.

Handing over 20 billion to Putin has been a mistake and even more unethical than profiting from it. We should have sold to the Chinese for 5-10 billion since the are happy to partner Russia. Bad mistake.

And please Bernie, no more softball garbage if Rishi and his newly lefty pandering chums decide to further push the windfall taxes to keep themselves in power and pick up the post Boris pieces. Give people more free stuff. That will do it eh. If they do come back for a second bite at the windfall tax cherry just because stupid people have somehow spent the whole year ignoring oil prices and the inevitable Winter price jumps that the pending benefits are for, then we should this time pull North Sea investment to the same value. Don’t bite the hand that feeds you Sunak. BP pay you, not vice versa. Somebody else will gladly take our money/investment.

And where were all the energy company hating goons when oil was worth zero $ just 2 years ago, and we were making record losses. Funny how the media tends to gloss over that and instead compare current profits with that dark period, for added effect via their victim creating clickbait, eh? The real criminals are the nations who refuse to boost production and keep prices high on purpose. They want all those COVID costs covered.

Tuesday will be eye watering. As will October results.

6c a share on the divi.
25% hike in buy backs.

Do it Bernard. Green is the future, and will be funded by the present, which is still the black gold.

Gas sitting at $8.20. I wonder if it will see $10 before this saga is all over?

It’s going to be a very tough Winter for a lot of people, when the cost of living crisis actually begins. We’ve only had a taste so far.

That’s what I mean Bumble. It would be good to see how many shares are in circulation monthly or at least quarterly….. ie are they staying bought back, or being reissued? And hence we can compared properly.

It makes you wonder.

My worry is that buy backs are just not reflected in the SP. The market cap seems to be ignored in favour of daily share price movements alone. 395 is a slap in the chops after 2.5 years of tough times, which despite everything we have less debt, less shares in issue, are making record profits and will be for the rest of the year, more than likely. The green revolution revenue drop off just hasn't happened has it , and that was the big concern over our strategy? So why are we still 30%+ off our peak share prices of circa 590p 4 years ago? Shall are 15% off. Nonsense. We should be well into the high 400s based on 12 months of $100 oil and all those factors. The negative state of the world economy has been vastly overbaked IMO.

As for buy back fundamentals; if we have 10% less shares in issue in 12 months as we do today, then those shares should be worth 10% more each, right? Simple maths. Less pieces of the pie, so each piece is bigger/more valuable.

Is there a record of the number of share and market cap, say on a monthly basis for comparison, rather than just the share price? It would be interesting to see/gauge how effective buy backs are actually proving to be.

Centrica.... ah so the lefty penny has finally dropped that its not just the big oilers who are raking it in at the moment. Its a whole wave of people in the energy sector. Theres a shock.

If Sunak/Truss want to whack us with even more taxes, then we need to be hard-line and fair this time, rather than saying 'OK we will still invest billions in North Sea projects anyway'. No, do that in North America or Australia instead if Rishi/Truss wants to carry on playing ball with the handout grabbing lefties who should have seen the Winter price rises coming and started to budget for it 6 months ago.

Sure, there's an argument that energy companies shouldn't be making record profits at the moment and should be doing more to help customers in special circumstances. But then there's an equally compelling argument on the flip side, when we were struggling for 2 years, when the oil price was $0, nobody was consuming energy due to lockdowns, and then we willingly handed over $20b to Putin's cronies earlier this year, and shareholders have seen their dividends slashed. But then that's OK, because shareholders all drive Bentleys and don't have mortgages eh? These things have to work both ways with a balanced view.

Very odd today....

- Oil prices up 2%
- Shell results record breaking again, hence BP set to follow next week

390 seems very strange though, especially after a strong US close yesterday (396), albeit set to open lower due to GDP numbers being off.

Ah well, it's all noise in the short term. Oil back to $100. Record profits en route.

Keep those buy backs coming Bernard. They have to affect the SP eventually.... although there's been no notable effect on the SP so far.

Divi to rise to 6c p/s
Buy backs increased to £8b per annum

Labour to then pipe up demanding more energy bill handout, even though everybody’s been well aware months ago of pending energy price rises and the usual increased seasonal consumption in the coming Winter.

I think we will have a go at it today…..

Interest rates up 0.5% I reckon.

Same here at the next meeting.

It’s a shame that the US ever needs to open. We’d be at 800 by now if that were possible.

It absolutely needs to raise to 6c.

Buy backs are great, but how many shares are in circulation compared to 5 years ago? We are buying back but how many are we then issuing.

The simple fact is that so far, buy backs have had little impact. They should bump up the SP by 10% a year roughly since we are putting about £700m a month into them.

Clued; but that's against peoples dignity and all that, eh?

Tough position. But yeah, Im all for it all just coming off people's power bills, just like the rest of the people who are only getting an energy grant. As much as the imminent one is for general cost of living such as food and rent price bumps etc.

People honestly don't see what's coming in Winter when energy consumption spikes......

Supply and demand wont see eye to eye one bit.

It could well be a rough Summer for oilies what with China slowdowns and worries over consumption/profits, which for me is still stupid at $95 a barrel. But ultimately, the energy crisis hasn't even started and wont for another 3 months. The invasion will still be raging by then, supply chains will still be a mess, and reserves depleted even further. Medium to long term, oil is only heading one way.

And how many of those 8 million households will spend the imminent BP and Shell funded £325 on energy bills and actual cost of living items such as food...... and how many will get wasted in a beer garden over the next week?

No Gary, youre posting that because you're only ever negative on BP, and funnily was nowhere to be seen when we were well over 400 recently.

Buying at these levels is a good medium term investment. Sure, it will likely fall lower still before sentiment improves. But ultimately, facts and sentiment are not in the same basket are they?

Facts rule. And those results for Q2 will be eyewatering.

Buy backs are currently around 9% of our market cap a year.......

So in 12 months, if the SP stays at this level, our market cap will be 65 billion quid.

Insanity.

The plain and simple fact is that when the economy and war are resolved, in what, 12/18 months, oil at $75 will be plenty to have us making stupid profits. Cash machine was the thoughtless term used at those levels last year.

How long can BP be rated at only a $70billion quid company?

Forget the SP, think about the market cap. Looking at earnings compared to company value; we are massively under-priced even at $75 oil.

Clued...

We will be back at $110 crude and £3.90 on the share price within days. Rinse and repeat, over and over, an easy 5% every time £$£$£$£$£$£$£$$£$£$£$£$£.

China.... lockdowns affecting oil demand and fuelling recession worries. All those dirty, cheap goods supplying factories not working is hitting people in the west hard, and slapping oil prices. China simply cant keep up its C-Zero policy forever, as C isn't disappearing is it.

Ukraine.... same old, and will be for another 6 months until Putin achieves his aim, whilst the wests sends a few rocket launches and pretends to care whilst applauding the bravery of the people being killed. Because any other action means WW3, and they/Putin know that fine well.

UK.... people moaning about airports being too busy, whilst also moaning about being too poor to heat their house, in Summer.

Levels of entitlement.

Why do people keep going on about BP's apparent 'gamble' on green renewables?.

1, its not a gamble. That's how the future will look. When everybody on this board is dead or an OAP, but that's how it will be one day. It just has to be. But it will take a generation. Sorry Greta. Even though she knows that too really/that its' a lifelong protest/money spinning income for her and her people.

2, we are STILL a fossil fuel based business at the core. Look at our exploration projects, all the fields we operate, our refinery profits etc etc. We are hardly dumping oil anytime soon as that's 100% our bread and butter for now. Plus, where does most electricity production from from? Its not wind power is it! So all those fast chargers which are being rolled out just convert oil to voltage. Its like dirty energy laundering for the most part, still. Due to the above.

Turn off the lights until results time when we announce record profits, a slightly bumped divi, as much as the £/$ is doing that for us anyway right now. The markets will have decided one way or another if we are heading into recession or not in a few months time. By which time Putin will still be blasting Ukraine and getting his way there whilst the west sends a few rockets over, commends them for being so brave whilst insisting that they are winning and how Russia are struggling to make gains. Oil prices will have recovered/stablised. And lets be honest, $100 isn't exactly cheap, albeit manageable. Im hoping to sell 70% of my holding at 450+ later in the year/early next year. We will see. If that needs to wait a bit longer to happen, so be it. But what's clear is that BP are making pots of money, and are massively undervalued at £72B market cap.

It's funny how in one breath we are being told that recession is coming, retail figures are dire and people cant afford their bills, but then airports are record busy and other 100% disposable income spends are thriving.