Member Info for Jakers

Pang

You're in a lovely county, give my regards to ballincollig

Morning all

Yep Spights brilliant sunshine in Norfolk this morning if a little chilly in the shade

Nightpusher, you've actually confirmed my point unintentionally. If you take Elliott out of the picture then by your argument the sp would be sub £4 so given that we have bought back 12 billion shares since 2000 at a cost if God knows but probably 50 + billion, so much for buybacks supporting the share price.

Good morning Meoryou, Spights and all

I think we just have to give Auchincloss the benefit of the doubt and some time to see if his reset produces a better return on our investments.

For me I would have preferred to see a halt in buy backs and concentrate more on debt reduction because the benefit to me is nil. If buybacks were really such a wonderful thing then why hasn't the stock price increased at all for the 20 odd billion we have spent over the years. Just doesn't make any sense to me. Conversely if others have a contrarian view (and I'm certain many will) what would the stock price be today if we didn't spend this vast amount of cash.

Polite replies always welcome

Meoryou this is all very odd something just doesn't seem right about this incident. As you said with the modern equipment on board these vessels there should've been alarms long before impact. Perhaps the interrogation of the crews will throw some light on it.

Poor Auchincloss only received £5.4 million pay last year.

If he got what he is worth it would be minimum wage.

Given the state of the business he should bee embarrassed to accept that level of payment and definitely not a penny performance bonus or freebie shares. Its high time these self serving board members put shareholders before their insatiable greed.

PeterH1

We do not have the military capability to take on Russia, and I very much doubt that other European countries will agree to take them on either. Similarly NATO seems to be a pointless enterprise and they won't engage russia either, this point has been proven by the continual delaying of Ukraine membership because they know that would be an immediate requirement to attack russia. We can castigate USA all we want but the harsh reality is we need them and the only ear to Putin is Trump. We need to suck it up at start talks

WP

That I understood however do you not think Putin will not just retaliate tit for tat

Reeves has stated her cavalier intention to hand Ukraine £2.26bn to fund its war with Russia taken from the profits seized from russian sovereign assets. In other words goodbye Rosneft bp dividends

Seems sensible course of action if even at the angst of Ed Miliband but looks like he is going to be fired imminently anyway.

Meoryou/Happy

BP American operation is headquartered in Houston the epicentre of oil, surely there must be many seasoned senior executive oilmen available there who would fit the bill.

Agreed Meoryou although it seems to have been lead from stateside and holding so far. Most welcome in any event.

Morning Spights,

Hmmmmm if the rns is the full content of what we should expect the board to say today sadly all the hype leading to this point has been nothing more than a wet squib.

Honestly I'm not sure anyone is buying anything Auchincloss has to say regrettably

Meoryou it's not like you to be so negative. There would appear to have been several 'leaks' about some of the possible things that they might propose, possibly testing the water,but i do suspect there will be more substance tomorrow.

We know what the general trend will look like all of which should be positive.

The share price is just treading water currently pending tomorrow's clarifications and we will hopefully see a positive uplift or a great deal of P65's

Euso

I do not think bp are planning to divest fossil fuels business, if anything they will increase investment in this field.

My wishlist of changes I want to see are as follows:

Change the buyback process from mandated levels to a more flexible approach including buy only when totally affordable and not above say 465

Use all proceeds from divesting only to reduce debt currently at 23bn + gom

Cease issuing new shares for gratuitous hand out to non deserving directors immediately and tie all future share issues for this purpose to individual performance

Put our dividends back to precovid levels immediately.

Meoryou,

They stated their intention to execute 1.75bn of share buybacks before reporting q1 results, however, they have now said they will update on this matter together with capex clarification in the capital markets report on wednesday

Meoryou yes I did read that. The gravytrain keeps on rolling along. Something needs to derail this nonsense

Rosneft optionally makes BP a prime beneficiary in event of russian ceasefire according to JP Morgan Cazanove

Retirement _plan,

It looks like there are two factors, we have followed american trend down by just over 2 % at close yesterday, and yes today is exdiv so you might expect a slight downside.