Member Info for Jakers

All good thank you Spights...

Very sorry to hear your sad news

Meoryou, I trust you are well...

You might be right I thought England's performance was awful until I watched the Italy v spain game lol.

Back to BP not sure if I fully understand Sir Jim's thinking, in one breath he slates the proposed decimation of North Sea Oil including britains power security and then he supports labour. Scotland is very reliant on north sea oil so they need to ensure labour doesn't get a hold of it.

Do you honestly think BP would delist if the tax breaks are taken away and windfall taxes increased ? there must come a point when there's not much point in turning on the lights in BP enterprises in United Kingdom. How much of Starmers diatribe is real and how much bs ...

Good morning Spights ,

Good to see oil holding steady north of $85. Unfortunately the share price remains lacklustre a bit like the English football team.

Hi Meoryou, Auson.,

I value both views., however I am concerned about in increase in borrowing and the overall level of debt which had we not spent so many billions on buybacks the debt burden could easily have been massively lower with prudent fiscal management.

The share price is bound to drop with the outflow of funds to service the dividend due on 28th and in the event that the oil price drops again I cannot see much chance of any meaningful increase in the sp.

I respect the views of all posts on this forum because we can be objective and make our views politely. Best if luck to all.

Markus99 one opinion is just as valid as another when it comes to oil shares.

Biden is not a friend of big oil and he will not want to see high prices as we enter into the driving season in us because he is looking to be re-elected in the fall.

As for BP share price it's difficult to see major gains short term in the current climate in my humble opinion, but best of luck.

Hi Mark,

Does the $24 billion include the gom outstanding debt ?

I wish they would "park" this share buyback madness and focus on debt reduction.

Have a good weekend

Jeffrey hopefully you will be right but "Mr Flipflop" is so unpredictable and no coherent policy that we might take some solace from.

Good morning Spights., It would be nice to think so but if yesterday is anything to go by I'm not convinced.

I think what we might be seeing here is the inevitability of a Starmer government and that will be very bad news for us.

Yes thank you Mark, all well... at least I thought so until the thought of Starmers soggy y fronts rather dampened my enthusiasm for life lol.

He is very cagey about putting anything into the public arena because he will be forced to make more u turns than my wife driving when he is actually faced with actually having to male important decisions that will be challenged mercilessly by the opposition. Then he will begin to understand the difference between the pressure of having to be a leader and not his usual comfort zone of being a follower.

Hi Mark, the only dark cloud on your horizon may come in the shape of Starmer they will not say where they plan to find the money to fund their policies.... I can see oilers getting bashed yet again sadly

Londonirish, I agree it's difficult to see this staying sub £5 for long. 'Best of irish' with your holding

Jakers

WP

I think if european states appropriate russian assets to fund future costs of Ukraine conflict, we can forget all about ant residual value to shareholders for Rosneft stake because Russia will simply steal it in a tit for tat so wouldn't hold much hope of any dividend anytime soon sadly

Hi Spights,

All very well thank you.

Glad you are having a great holiday..

Big fan if the algarve. Have fun

Good afternoon Spights,

Hope you and your family are having a wonderful holiday...

Have a great (and peaceful) weekend everyone

JAB, If as appears likely, Starmer becomes PM then delisting in uk might be a very attractive option God help us

Investrat, I've come to the conclusion that its not in their interest to see the share price rising due to the buyback process. In other words they are stuffing two fingers at the ordinary investors. To answer your question I think we would've seen a considerable increment.

Happy thank you for posting the salient points, very useful as travelling

Hi Spights,

Hmmmm ... not exactly the stellar performance I was hoping for, and they are hell bent on spending another 1.75BN in Q2 on yet more buybacks...

More alarming is the increase in borrowing to 24Bn. (not including gom)

So we are hauling somewhere in the region of 34Bn of debt currently. I would really like to know the financial advantages of the ongoing share buybacks v the interest charges for servicing this massive debt burden. Surely more emphasis should be given to debt reduction. Nothing much to be cheerful about sadly, and no uplift in the dividend.

Good morning Getagrip.,

I really don't disagree with anything in your post. Speaking only fir myself, I decided to invest not an inconsiderate sum in this stock because I judged it to be a 'safe harbour' investment and I still believe that to be the case. I'm on record ad nauseum for calling out the reduction in the dividend and its urgent reinstatement because that has held the stock price back arguably enabling the board to buyback shares much cheaper, but we are paying for that programme due to the diluted dividends we receive currently. I hope the board will slow down the transition into renewable energy and continue to invest in new oil and gas then we should have the best possible scenario leading to a huge uplift in the share price. I still see BP as a solid investment. Good luck with your holdings

Jakers

Good morning all,

How refreshing to see a bit of 'bonhomie' on the board for a change.

Long may it continue. BP tests us all from time to time, but yes I totally agree that it is a comparatively safe investment. If only they would improve the dividend and backpeddle more on the mad dash into unproven renewable our share price would rocket. Good luck to everyone and have a good weekend