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Largely in line with what others said when results were released but results didn’t not say the below with COP26 going on: “Bloomberg released a report this week that oil and gas explorers in the United States may point to politics as the reason that they are holding back on upping production to ease oil prices, but the real reason is much simpler: they are making money hand over fist. According to figures from Deloitte LLP, U.S. oil companies are making more money now than at any other point in the entire history of the nation’s shale revolution. “And this may just be the beginning,” Bloomberg Markets wrote. “Free cash flow, the key metric watched by investors, probably will increase by 38% next year, presuming oil prices remain elevated.””

https://oilprice.com/Energy/Crude-Oil/Big-Oil-Is-Finally-Exercising-Restraint-And-Biden-Is-****ed.html

Largely in line with what others said when results were released but results didn’t not say the below with COP26 going on: “Bloomberg released a report this week that oil and gas explorers in the United States may point to politics as the reason that they are holding back on upping production to ease oil prices, but the real reason is much simpler: they are making money hand over fist. According to figures from Deloitte LLP, U.S. oil companies are making more money now than at any other point in the entire history of the nation’s shale revolution. “And this may just be the beginning,” Bloomberg Markets wrote. “Free cash flow, the key metric watched by investors, probably will increase by 38% next year, presuming oil prices remain elevated.””

https://oilprice.com/Energy/Crude-Oil/Big-Oil-Is-Finally-Exercising-Restraint-And-Biden-Is-****ed.html

https://www.msn.com/en-us/news/world/were-all-in-bp-ceo-defends-climate-strategy-as-activists-demand-big-oil-reforms/vi-AAQsEAW

Sorry if this has already been posted

https://ca.finance.yahoo.com/video/bp-increases-buyback-higher-prices-100850110.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAANGZmWHFPKyt9kODsVuVWqqW1FeGOL6VIGMCYZfumSgKSe-Vo5nxESOC8TsJhNGcO_apH-lFC-nN5QF8WnqvPKLpwM39eekxoeMvS1NR7rm60ixi9iGh1ozd0w5La0a92aEs-iRyDySMUebWtKavz-iObse1Ja8NTr9_l_3eraLJ

I know posted already by others but I would urge everyone to listen to this podcast. Really balanced view and takeaways for me are:1. Whilst prices will continue to be high, the gas price will be resolved. 2. 16.30 explains how portfolio investors need to invest again in oil and gas as it drives the economy and the recent divestment from funds will need to change to invest in energy and storage. 3. Oil is setting itself up for a long structural bull market. So no giving up too early! I hold 50/50 BP and Shell. https://youtu.be/Ufm7WvCxlb0

I know posted already by others but I would urge everyone to listen to this podcast. Really balanced view and takeaways for me are:
1. Whilst prices will continue to be high, the gas price will be resolved.
2. 16.30 explains how portfolio investors need to invest again in oil and gas as it drives the economy and the recent divestment from funds will need to change to invest in energy and storage.
3. Oil is setting itself up for a long structural bull market.

So no giving up on BP! I hold 50/50 BP and Shell.

https://youtu.be/Ufm7WvCxlb0

Transaction in own shares today, BP back buying so they must be happy with this price / think this price is here to stay, highest price paid today 3.47. RDS yet to recommence buyback, sure they will follow BP lead…

Has anyone noticed the prices are now about the same price, there used to be a 40/50/60p gap between them? How come the gap has closed?

https://bulb.co.uk/

Will be out for 9 days and then only able to return to half power until March next year! Energy crunch this winter, prices going to stay high and get a lot higher. Bulb just wrote to me to ask me to top up as prices rising fast!

Very interesting article, shows pension funds retaining shares in BP and She’ll die to the ability to influence and encourage going green from within:

https://www.standard.co.uk/business/extinction-rebellion-climate-change-jp-morgan-city-shares-b952046.html

“Being a responsible buyer of shares is one thing, how about being a responsible seller?

Legal & General, a leader on the ESG issue in the UK notes: “By divesting from entire sectors, investors lose their ability to exert a positive influence.”

So it holds shares in BP at least partly so it can influence company behaviour. It can claim some successes here at least with BP, but it largely gave up on Exxon, which wasn’t listening.”

Chatting to a mate at work today, he has just bought a Tesla, he drove it to Dorset from London, Google said 3 hours, it took him 8 hours with multiple recharges, planning stops and overnight charging locations etc etc. He was sold the dream but reality is he is quite disappointed. We just aren’t ready for electric and I personally think hydrogen will be the solution. The only problem is preventing cars exploding if / when they crash with a tank of hydrogen in them

"The commodity rally isn't over just yet, but it will probably take a big break here," Oanda analyst Edward Moya tells MarketWatch. "WTI crude’s fundamentals still support another massive move higher, it will just take another month or so to shake off the growing risk aversion theme."

https://seekingalpha.com/news/3716583-us-crude-oil-slides-below-70-in-biggest-one-day-drop-since-september

As soon as results announced at the beginning of August we will commence a big buy back of cheap shares which will push the prices up.

Just need Covid nonsense to go do one. I’m fed up with it all, time to open up and crack on.

Great article on Oil Price.

“ Investor interest in oil, then, is still alive and kicking, despite the ESG investment rush and all that. It is a simple example of the basic principle of how markets work: if there is money to be made from something, money will be made from that something, regardless of its reputational standing in the public eye.”

https://oilprice.com/Energy/Energy-General/The-Oil-Industry-Is-Borrowing-Again-But-This-Time-Its-Different.html

Just bought a diesel Land Rover, ULEZ compliant and expect oil to be around for a long time yet. Black gold!

Nicely up on BP and Shell

When does dividend money land in our accounts?

Behind the scenes a lot is going on, plans to demolish old gas holders and use pipelines to supply hydrogen:

https://www.northerngasnetworks.co.uk/2021/03/18/northern-gas-networks-and-bp-announce-hydrogen-collaboration/

I wonder if the rotation is underway into value stocks such as BP and She’ll. Bitcoin is taking an absolute battering downwards following Musks declaration that you can’t buy Tesla’s with Bitcoins due to Bitcoin mining’s carbon footprint...

Your definition of fun is not mine or many others! Get a better hobby! I’m off to be grumpy down the pub with some mates and have a game guessing what temperature it is going to be at 12pm on Friday next week.

https://www.agg-net.com/news/cemex-and-bp-team-up-on-net-zero-emissions