Member Info for Charlie156

You only come on here to brag and belittle. Your a cretin.

The buyback figure put forward by Jefferies surprised me. I wasn't expecting BP to even maintain the $3.5bn buyback for the next quarter, let alone increase it. Maybe BP traders have had a stellar quarter(strong Q1, average Q2). Anyway, $3.5bn is the sweet spot for shareholders. We'll see.

https://seekingalpha.com/article/4547958-archaea-energy-bp-bags-a-bargain

Moy, BP discovered 2 ultra deep multi billion barrel fields in the GOM in the early part of the century, Kaskida and Tiber. The technology did not exist then to develop those fields, it does now which Chevron has shown. If BP gave the green light to one of those projects, it would be a significant boost to BP's O&G output. At present BP spends most of its hydrocarbon Capex on just maintaining its operations. The vibe I get is that the BP of today has its heart set on becoming a renewables company as quickly as possible. 2030 seems to be the date when BP believes it's renewables will begin to make a serious return, until then they will cost shareholders billions of dollars, added to the lost earnings of selling off 40% of its O&G portfolio, at a time when prices have been rampant. To date, Looney's strategy has failed, to its shareholders cost.

BP have allocated an extra $500m to O&G capex this year, in recognition of the high hydrocarbon prices. A pittance. What this deal highlights is the prowess of the Rice brothers, in creating a company in 2021 valued at $1.15bn, and selling it a year later for $4.1bn. Their US listing RONI is valued at $426m(cash $350m). One to watch.

19.10.22,(19.10.21) price per tonne,
Copper-$7317($10,563)
Zinc-$2866($3,728)
Lead-$2043($2,425)
Total-$$12,226($16,716)
CAML is still making a decent return, just a lot less than the glory days of a year ago.

In 2020 BP sold its Alaskan O&G assets for $5.6bn. Those fields produced 74,000 boed in 2019, BP also threw in its stake in a pipeline system. Today's deal sees BP paying $4.1bn for 6,000 boed. BP have made their move to renewables ten years too soon, missing out on the price bonanza on the assets they sold, to their shareholders detriment. The sustained lack of industry investment over the last 10 years means there will be higher O&G prices for longer. Kerry Packer said 'You get one Alan Bond a lifetime'. The owners of Archea must be saying the same about Bernard Looney.

This is the sort of deal that reminds investors of all the doubts they had about Looney and his strategy. The demise of hydrocarbons is a narrative that is not playing out, and BP are showing they don't have the agillity to adapt. Come 2030, O&G will still dominate, and with Looney selling off those assets on the cheap and wildly overpaying for renewables, BP's O&G portfolio will be down to the bare bones.

$4.1bn for 6000 Boe/d. Looney overpaying again.

Moy, dividend increase, debt reduction and buybacks are a powerful ****tail, that the market likes the taste of. I've trawled through the trades of a single days buyback today, and what has surprised me is the largest purchase BP made of its shares was 11,982, whereas I was expecting to see BP involved in the trades of up to 7 figures that take place. That tells me, that instead of buying 1 million shares from an institution, it concentrates on buying the thousands of algo trades that today dominate the daily trading patterns. So, while BP is limited to buying a certain percentage of its own shares everyday, I'd venture in this buyback it's been responsible for 70%+ of the daily number of trades, benefitting shareholders. The FTSE was 7400 when this buyback started on Aug 2, with a £4.06 average paid, today the FTSE is 6850, with a £4.54 average paid, so something's working.

If ever a company had 'Come and get me' written all over it, it's DS Smith.

Freeport declared and then retracted a force majeure for their Texas LNG terminal, which I think BP will have to take a hit for in their next results

Anger, it's already happening. This monomania is not doing you any good, anyone investing here after a few good quarters, with the history of its UK business has learned a painful and expensive lesson.

Do you think you conduct yourself in the manner of a intelligent investor. I dip in and out here, the overriding impression I get is that your not very good at this.

I've always considered the $70bn+ paid to date for Macondo a windfall tax on BP shareholders for the company's lack of backbone in defending shareholders interests, when the other two miscreants Transocean and Halliburton got off comparatively scot free. Sorry to drag it up, but it still rankles.

CAML have done well not buying when metal prices went loopy. I'm sure in the next 6-12 months an acquisition in a more geopolitical low risk region will happen.

Who would be acceptable to Rosneft, replacing BP. That's a very short list, if you don't include UK or US companies. Both parties I'm sure are talking, if Looney got a call from Igor Sechin, he'd put Kwasi Kwarteng on hold.

Market cap of $86bn. Considering just for 2022 its buybacks, dividends and debt reduction amount to $25bn+, shows the value in BP.

Down 20% in a week. The UK business has always been a millstone for the company, now it's become toxic. A pyrrhic victory awaits the winner.

Chandley, must be tempting to buy that stake back and make 3 grand in less than a day.