Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Looking at next week I see the OPEC meeting announcing no change and increase by 400K as planned.... I read that due to the price differential as LNG prices rise significantly then oil is much cheaper to generate electricity.... at least 500k barrels per day .. Coal power stations having to switch off due to unavailability of coal in Germany... Many more new wells in US Fracking area need drilling .. lots of $$$ cost... China power cuts and diesel generation of power up a lot with China bidding high for LNG cargo... a recipe for a spike in POO imo..
I expect POO to spike up to circa $85 next week and I have bought quite a few shares in BP and Shell today anticipating a lift in SP next week and beyond.... exciting times leading up to 2/11 announcement. I am still reckoning on $2 Billion + for buybacks next qtr.
The 2030 target is a tad fuzzy re reduction's .... take the Iraq deal to hive off with partners to separate company. Millions of barrels just removed from the target in the stroke of a pen. Take Rosneft production that neither is part of the target.
BP is being very smart as moving production yet retaining the revenue stream. Selling assets , but apart from Oman the lifting price per barrel is high. Therefore the average lifting price will go down and down.
3rd qtr buyback still circa $2 Billion I reckon. Now if trading have a blinder then this could increase quite a bit...
It is possible there will be no additional buybacks today as there appears to be a £3.20 limit on what they will buy at. It could be that this is adjusted upwards. It was a £3.10 limit before that.
Agree circa $450M outstanding
https://www.bp.com/en/global/corporate/investors/information-for-shareholders/shares-in-issue-and-share-buybacks.html
Spreadsheet at bottom
RE: Friday Club26 Sep 2021 16:54
Android £3.02
Goose £314
Grandadtom £3.27
Robbyw £3.29
Emerald £3.30
Jezzoo £3.32
CharlesRix £3.33
Wmmg £3.34
Cong £3.35
Spights. £3.45
Plas £3.50
£2.99 45Bob
£3.03 Longish
£3.11 goosefromtopgun
£3.16 Jezzoo
£3.18 grandadtom
£3.33 NSS
hTTps://www.bp.com/en/global/corporate/investors/information-for-shareholders/shares-in-issue-and-share-buybacks.html
Small excel s/sheet at the base of this shows that BP is approx 50% through buyback this qtr
Off topic of sorts but I did find this musing of a US financial analyst interesting.
2030 when the UK plans to go electric (2.5 million vehicles per year) it would require 75% of current Lithium production and 50% of current Copper production to build all the require electric's batteries etc for these cars. Place your bets for a tweak to this aspirational target. Also place your bets on Lithium producers / ETF.
On topic, and given the current momentum to oiler's I would expect a buy back in excess of $2 Billion announced early November 3rd qtr results assuming BP Gas Trading do as well as qtr 1.
£2.87 zac0_4
£3.16 Hope for
£2.90 Seen-it-done-it
£2.91 Android
£2.92 JPW
£2.99 Bugerov
£3.06 Jezzoo
£3.10 Cong
£3.12 Grandadtom
£3.15 NSS
£3.16 Robbyw
£3.22 Digby04
£2.87 zac0_4
£3.16 Hope for
£2.90 Seen-it-done-it
£2.91 Android
£2.92 JPW
£2.99 Bugerov
£3.06 Jezzoo
£3. 10 Cong
£3.15 NSS
£3.16 Robbyw
£3.22 Digby04
£2.87 zac0_4
£3.16 Hope for
£2.90 Seen-it-done-it
£2.91 Android
£2.99 Bugerov
£3.06 Jezzoo
£3. 10 Cong
£3.12 Grandadtom
£3.15 NSS
£3.16 Robbyw
£3.22 Digby04
https://www.telegraph.co.uk/business/2021/09/11/china-boosts-stake-uk-london-shares-spree/
Interesting development
£2.99 45Bob
£3.02 Android
£3.03 Bugerov
£3.06 Grezzz
£3.12 Grandadtom
£3.15 Robbyw
£3.22 NSS
£3.23 Jay111s
£3.33. Spights
Much better Q2, Q3 should be even better assuming no gotcha's ... Summit about to happen re IRAN as they may have overstepped the mark and being so close re nuclear advancement oil / gas might be more volatile as a consequence. Latest trading update this Friday on the BP numbers to date Q3 is very positive on all fronts.
Can not believe IC is still advising a SELL on BP.... though I was somewhat reassured when I noted their Oil pick for 2021 was San Leon. Suspect they will not turn whatever BP does .. I tend to edge towards the Goldman analysis, though their £5 valuation is a little rich for me... £4 plus maybe by year end.
The Q&A from Q2 I found most reassuring (on the main BP investor page)
Interesting debate of late.... Now if I was the Board I would pay the 5.25 cent divi and add a supplementary divi of 0.75 cent making the case for support of the core divi will the flex of a supplementary add as results allow, that should provide some umph to the price. I expect a minimum of 1B buyback with a hoped 0.75cent add on to the divi.
Reckon Trading had another stellar qtr (not like RDS).... see no negatives at all apart from the dividend policy... though reading the presentations the board does have discretion each qtr.
Price week from now should be above £3 if Looney plays this well...
The only cloud on the horizon is institutional holders may want to green up their portfolio's even though BP is getting greener.... thus some selling of late I think. Still remember that the Tobacco playbook was similar some years ago, now they really came good.
See from the latest trading update today from BP RMM 16%+ Brent just shy of $75 and Nat Gas on the up. Picked up two bundles today around 2.90 for the bottom draw . BP fundamentals do look good.
Looks like BP are going for the green agenda .....
Rosneft oil is excluded as not controlled by BP.
I expect the Algeria / Angola JV (ENI) again will have BP as a minority partner (in negotiations)
The Iraq deal just flagged on Friday might require BP to reduce stake a little to ensure minority interest (CNPC)
So BP will go green in line with forecast and dividend paid on external companies will keep fingers in the oil pool.
Clever guys at the top of BP
Agreed. BOA need to stop digging. Barc seemed the most sensible in its rational to BP…. If last year is a guide then Divi dec. this week with Qtr2 guidance next week… see Nat Gas is on the rise.
A bit of excitement this past day, this PM will allow MTP on Nasdaq to react to the RNS.... Just parred back re my top up yesterday as my other half twisted me keyboard finger.... Still hold my bottom draw shares and will await the next RNS. GL all holders...
No RNS advising "see no reason for rise in SP" so......... what's the news out there in a select few mits I wonder.... Have MTPH received a bid for the US arm ?.... not that it was for sale... Have one of the big Pharma's come in to share the risk / reward (say Novartis... for example)... Stellar update on current research / trial.... Or has there been an expression of interest in MTPH declared to mgt.... I await news with interest...
Look like I was right re Nasdaq price action. If there is news it really should be via an RNS. See that the max you can buy is 1000 @ 43 at the moment. Someone knows summit....