Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
Maybe the share sales were to pay for Looney's divorce. His ex-wife, the author Jacqueline Hurst, said of their marriage in 2017, separation in 2018 and divorce in 2019, that he only married her to advance his career. I think all of BP's shareholders are paying the price for that career advancement.
Why have Looney or the CFO never made a significant share purchase since taking their roles and implementing their new strategy. If you are cutting the dividend by 50% and evangelise about BP's future, surely there is a moral imperative on you to show your fellow shareholders that, by putting your hand in your pocket and showing shareholders you are in this journey together.
Looney struggles to defend BP's dividend policy, now we have the prospect of Bernie tying himself up in knots explaining and defending BP's decision to pay travel expenses for BP staff seeking an abortion. I predict now it will be a car crash.
While today's buybacks feel like good value, it is understandable why the subject causes such angst . Since the turn of the century to 24.06.22, BP has repurchased 8,182bn shares and spent $71.286bn. Today BP has 19.2bn shares in circulation valuing the company at $92.3bn. Add in the $70+BN that has been paid out for the Macondo oil spill, history will show that for the last 22 years BP made an awful lot of money and for the most part that capital had not been used efficiently.
There are no reasons to anticipate further corrosion holes, but every reason to anticipate your an eejit.
Have you got anything stimulating to say on BP? The floor is all yours.
Surprised at the market indifference to these results. There has been some softening in the industrial sectors, but debt has dropped sharply, Southern Europe and North America are growing strongly on the back of acquisitions. The new year has started well and the dividend has had a hefty hike. At this level the shares are a real takeover target.
This is a healthy correction in the oil price. It's an opportunity for investors to buy the market overreaction.
The head of Gazprom's quote on halving it's supply to Germany.
'Our product, our rules'
How I'd love to hear Looney say on dividend payouts
'Our money, our rules'
BP announced a buyback top up in January this year. I'd like them to do the same now, an extra $1bn to take advantage of the share price/cable price giveaway that has presented itself.
You have done well.
Zac, all you ever do is ask pointless questions. You have been on here the last couple of years making it clear your disenchanted with BP's share price performance and your intention to sell once BP was over £4. The share price hit £4.55 recently, you have had ample opportunity to divest your holding, giving posters a respite from your incessant drivel. I have no doubt that when the share price hits £5, you'll be on here whingeing and whining about why the share price isn't £5.50.
A great day to be buying your own shares. £4.26 at $1.22, with Brent at $120 and refining margins off the scale!
BP made a RC profit of $6.245bn in Q1. The trading division delivered an exceptional performance of from what I can make out of circa $2bn. BP never disclose the actual numbers, but it's in that ballpark. Q2 to date should add $3bn to those numbers. Being ultra conservative and say the trading division makes zero profit, BP's Q2 RC profit should be a minimum of $7.5bn.
BP have now reached the halfway point of this $2.5bn buyback, with an average price paid of £4.225. It's rare to get a red day, how times have changed.
BP could make $10bn this quarter. Outstanding profitability/swimming in cash. It's the same thing, don't be a pedant!
I've stopped looking at BP's P.E ratio, EPS and even the dividend yield. Today BP is all about the wall of money reducing its debt and shares in circulation, that is slowly but surely squeezing the share price higher. Q1 results showed net debt reduced by $3bn and a $2.5bn buyback announced. Q2 results are on track to be $3bn ahead of Q1, mainly due to refining margins doubling. The Macondo payment is due and BP's trading division may not have such a stellar performance, but BP is absolutely swimming in cash.
Plato, you desperately need to punch yourself in the face.
Your posting history on BP over the last year has been wronger than the wrongest person on Planet Wrong.
The buyback programme runs until the beginning of August. That means an average of roughly 6 million shares a day can be bought in the next 2 months. In the last quarter there was a month of no buybacks because they front loaded the scheme.