Member Info for Jakers

SLEEKTRADER

The issue of sanctions will become far more interesting if no deal is forthcoming in the russia ukraine conflict and President Trump imposes further sanctions on Russia. As India appear to be more than happy to buy Russian oil how can they effectively trade with the United States

Meoryou just read this and given the state of the business this is diabolical. If the had an ounce of dignity they would not accept but greed in its worst form seems to be the order of the day at bp.

Meoryou,

It beggars belief that shell can run a 196bn company with 10,000 less employees than bp which is less than half the size. We need doge to get rid of dead weight very quickly. Again seems to reflect poor management

Rimmer, 15th of May...

Sterling dividend has not been announced yet but 8 cents is an indication

Gary59

It appears that the results for Q1 are going to be poor compared to last year. Difficult to predict what will happen to the share price which is already shocking. Any argument that buybacks are supporting the share price can no longer be sustained. Going to be a tough person I think, however I do not believe they will reduce the dividend.

Drifting it would certainly be a good start. Their complacency in the face of ming boggling and abject failure is unbelievable.

Gary59

Thanks for the warning

Happy Easter to all.

Let's hope for a much brighter future for bp now all the dust has settled

Meoryou,

Yes they got a full mandate didn't they !!!

Now he had better get on and close the value gap between us and our peers as promised.

Meoryou/Stevebt

I believe the buyback program has been a disaster and it should cease immediately.

We must address the debt pile to avoid paying 1.3bn per quarter in interest, and furthermore these has to be a complete halt to issuing new or ex cashiers drawers anymore shares, similarly ad we are at the annual point of directors bonuses there simply shouldn't be any. Perhaps then the complacency might dissipate

WP

A bit surprised at Morgan Stanley revised price, seems low to me, however if you keep selling off parts of the business and fail to reduce the debt mountain it's only to be expected. Poor management decisions

Meoryou I do agree that Hayward's policies were a major factor leading to gom disaster, but like most of their ilk they just walk away and leave a trail of garbage in their wake.

As for a takeover bid now I'm far from certain that we would realise the true value of the business mainly for the following reasons:

25bn debt mountain

7bn gom payments

Rosneft

The sad part for me is that this can be a great company again if run by better people. I also happen to thing that pressure from hm government ministers was responsible for the rush into renewable energy just to be seen as leaders on the world stage, and now we know this was a suicide mission and nearly destroyed the business. When they get involved on corporate matters the outcome is always the same.

It will be an interesting day tomorrow

Interesting article Meoryou. How sad to see this brilliant company ruined by ineffective directors and looney government ministers

It must be a worrying time for the BOD with the AGM on Tuesday. I wonder if they have been canvassing the major stockholders to try to see what level of support they might get. Although I've nothing personal against any board member I'm angry if not surprised at the lack of any admission that they have got things terribly wrong. I cannot see the departure of Lund making any tangible difference and therefore the cuts need to be much deeper including Auchincloss who has been the worst ceo in the history of the company.

Yes Spights I did. Brilliant !!!

Good morning Spights and all.

Bp certainly is a bargain at this level. A welcome positive movement this morning and only 82p to go to get to where we were a month ago... who would've thought ,,?

Jimothy you can also add to that 1.29bn interest payments per quarter to service our huge debt. That was based on the fiscal quarter ending December 2024. Yet we persist on spending tens of millions daily on buybacks instead of debt reduction, which incidentally has risen more than 3bn in the current quarter

It's definitely time to have a clear out of the complacent board of directors.

We will have another down day it seems, and this idiotic pattern will continue until the two big egos finally see sense and sit down and do a deal. Neither side wants to be seen as weak, particularly China but the alternative is to battle it out until they self destruction their economies.

I'm hoping that somewhere in the trump cabinet there is a sensible head who will start telling him the right thing to do instead of the pitiful and embarrassing saga of yesterday's cabinet meeting which was a nauseating episode of pandering and self glorification.

Meoryou,

Oilp prices continue to drop and could hit $60 very soon which may well lead to substantial reduction in us production.

My anxiety now isn't just the share price which is horrible but the sustainability of the dividend, and as if we couldn't have anymore bad news starmer has reintroduced the banning of new petrol and diesel cars from 2030.

Neversellshell22

interesting article if predictable. "Wickedly inefficient use of capital"

Thats a massive admission of bad management and one thing is clear and that is if Elliott had not taken a stand and forced the board to change course we would still be continuing with the errors of the past. I acknowledge that it is going to take time for the new direction to convert into the increase of profit and free cash flow but I'm not yet convinced that Auchincloss is the right man to continue to run the business.