Member Info for Jakers

Morning Meoryou, Taking a shuffle back through the cobwebbed cloister of my fading memory I think they confirmed that oil at $60 covered costs including dividends and planned capex.

Jamtart 1, I agree, out fatcat board have got too complacent knowing they eill have a big salary cheque at the end of every month, not to mention unearned bonuses, irrespective of the company performance. To see BP stock at this price is shambolic and they should be thoroughly ashamed of themselves. Time for a complete clear out and get people who are committed to the future of the oil industry to take this company to where it deserves to be.

8 cents so divide by 1.3 = 6.15 pence roughly depending on £ v $ exchange rate

Omg predictive text is a pain. Should have read ' clothes maketh not the man'

Blanchflower, " clothes make the not the man"

Thank you Spights, Yes currently enjoying some autumnal walks in rural Ireland while the mild weather lasts

Good morning Spights,

With oil down over 4% and Q3 results tomorrow we are going to be in negative territory today.

Bookmakers latest odds favour Trump victory

Trump 4/7

Harris 13/8

So just because we are shareholders we do not fit with starmers interpretation or working class. Seems we are now going to be faced with a shareholder tax. Who voted for this jack#ss

Neversellshell, very good point, it will be very interesting to see how the arbitration results go as I believe we also have reciprocal investment guarantees in place with Russia. As for the value of bp stake in rosneft I seem to remember it was about 20bn in 2022 excluding dividends accrued since the attack on ukraine.

Neversellshell, the bugbear is the sanctions put in place make it impossible to move monies out of Russia to uk and prevent buyers from buying Russian stock. Its a huge pile os cash probably in excess of 25bn but who knows how all this will pan out. If west confiscated russian assets for reconstruction then we can kiss goodbye to any hope of recompense

Meoryou, you are correct. If we ever do resolve the russia/ukraine conflict amicably then the dividends held should be returned to us the shareholders and likewise if we sell the 20% stake in Rosneft again the money belongs to the shareholders. We didn't attack Ukraine and we shouldn't have to fund reconstruction.

Claire, I've not overlooked your "ridiculously cheap" remark and to be fair at this price the process makes sense. I'm not clear if the boughtback shares held in "cashiers" or cancelled or reissued to directors/staff

Hi Claire, you are correct inasmuch as we have spent roughly 20bn over past 4 years on buybacks, but you could argue all we have reallly done is turned stock into debt.

Hi Mark... I agree oil has become so volatile its virtually impossible to predict where its going next. I've stopped feeding the ducks on my local pond because every time they fart oil price plummets.

Borrowing seems to have increased for some reason. Are we borrowing money to buy back shares ? Would it be so bad if we suspended the vast outflow of funds for the borrowing program and divert those billions into debt reduction.

Looks like oil price is trying to second guess what action isreal will take now against Iran. The trading statement sadly is very lacklustre and although we should wait till final figures are released the performance over the quarter isn't looking promising. However the overall picture isn't all bad, we still make profit with oil over $60 and that includes capex and dividend.

Claire, what an excellent post...

There are several great posters on this board who save us all a great deal of time in research, and I too am most grateful for their efforts. Sadly there are a few that get extremely rude and personal which is abhorrent but the simply remedy with those is to block.

To all the others (ye know who ye are)

Please keep on posting and very best of luck with your holdings

Jakers

Fogthemogg, no I was referring to far more recent times., that said, if like me you are a long term holder and not a trader then yes it could well apply.

Spights, No you're not correct I've got all the usual human failings but I thank you just the same