Member Info for Charlie156

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.

How long can Sanderson keep this going. 4 years for it to come to fruition. Will he be running it from his care home or Broadmoor?

These are golden quarters for BP. Buying back 2.5% of the share capital and paying down $2-3bn of debt every 3 months, makes the actual dividend payout a sideshow, as they underpin the path to capital appreciation for shareholders.

In the year to August, BP will have reduced their debt by $7bn, spent $7.15bn on buybacks. The balance sheet has been transformed.

Zac, BP's dividend and buybacks were based on Brent at $60 a barrel, which would allow buybacks in the region of 4%. The figure that BP has set will not change until 2025 is the annual amount set aside for the dividend, which is $4.4bn. Brent is averaging over $104 in 2022, which has led to a substantial increase in the buyback programme, resulting in room for a 6% dividend increase.

The dividend will be increased with Q2 results, as it was last year. BP are on track to have bought back 7% of the share capital since the buyback programme kicked off in earnest last August. They have also issued 1% of new shares in that time period, so following their own dividend policy I'd expect a 6% dividend increase.

BP's refining profits alone for Q2 are on track to make the company $2 billion more than they did in Q1. I'm chuffed that BP is doing so well, but BP should have taken the lead on this ages ago instead of the supine Looney waiting to be told what to do by this ragbag collection of politicians.

It almost sounds like Simon Thompson is shorting the shares