Member Info for Jakers

Meoryou, you are correct, there remains $10bn still to be paid. As I understand it the way the payment terms have been agreed is only approx 1bn appears as a debt on the balance sheet each year, which I would assume has tax advantages every year for the term. These annual payments will continue until 2033 approximately. It does give protection from a hostile takeover bid for obvious reasons. However if bp were to split the business into two entities one for fossil fuels and another for renewable then I can well see predators at the door.

Todays drift is most likely as a consequence of Shell advising to expect a reduction in profit for current qtr, however that shouldn't have been a surprise to anyone, just goes to show how fickle investments can be. I would expect bp to be in a similar situation again no surprise

Barclays have consistently rated at £7, and more recently Berenberg. I agree this is very unlikely even in medium term. My opinion, and that's all it is, £5 by year end and with favourably conditions £5.50 by middle of 23.

Halma, I very much doubt if there will be any uplift in the dividend this quarter, I will be happy if it stays at last q level

Good morning Spights/Meoryou and all posters. £100 oil is coming very soon, and with reasonable luck a steady climb in the share price to £5 by Christmas. Now that would be very acceptable. Have a good day
Jakers

Meoryou yes Spights is a very positive and welcome force on the board. A little disappointed with today's closing price but still looking very good indeed. Oil will only go one way. Unfortunately that means we will have to pay more at the pumps again. Uncle Joe must be a bit shaken by the opec decision which will make the midterms a bit dodgy for the Democrats. Brighter day tomorrow GLA
jakers

Owls, if I understand it correctly, u think it wad Bigbadbaz a few weeks back decided to cash in his bp holding and invest in premium bonds as he thought it would give him a safer and better yield. So it's simply an exercise in comparisons really. However, I think he will struggle particularly with the loss of his dividends and hopefully strong uplift in the bp stock price. Having said that I hope he wins the million
Jakers

Thehotticket, well prophesised!!! and even better that we appear to have held on to today's gains for a change. Also currently up 3.62% in us so hopefully tomorrow will be another day for further uplift, but will await your pearls of wisdom lol

Nice one Spights

Halma, you may be right, I suspect 4.50 might be selling point for some. Let's see what happens this afternoon when us market opens.

Meoryou, " the slings and arrows of outrageous fortune" I agree and we will achieve £5 very soon.
Keep the faith as always
Jakers

Hi Spights,
If OPEC+ take the decision to cut production by 1m barrels per day oil will be back at $100 by weekend

Another 'U' turn... decision to scrap has been reversed

Good morning everyone,
The decision to hold or reduce debt level will be taken based on interest rates prevailing, which obviously is the rate to be paid to service the debt. With rates now rising I would imagine it would be more advantageous to aggressively reduce the debt level. This would also please the credit rating agency, and we know how bp covet their high rating. Hoping for a positive week! gla
Jakers

Ogunneeyee, don't be unduly concerned about daily movements in the stock price. If you don't have to sell then just relax and wait until your desired price is achieved and in the meantime enjoy the dividends which are gradually creeping back to precovid levels. Good luck with your holdings
Jakers

Meoryou, we had a very close call. If all pension funds holding bp shares were forced to sell to try to remain solvent we would be in a very bad place this morning. The honeymoon is well and truly over for both the chancellor and pm. I've never been a fan of this team and their days are numbered unless there's a huge reversal of fortune which is not very likely.

It's actually quite frightening when we look at what's actually happened in the financial markets over the past couple of days and without massive intervention by the Bank of England yesterday many of our pension funds would be bankrupt with unthinkable consequences. We came very close to meltdown
Jakers

Meoryou/Cong
With the high volume of buybacks (exceeding 13m daily) and oil holding in high 80's I fully expected todays opening to be firmly in positive territory. It would seem that the mini budget has caused havoc and great uncertainty. We can only hope that the BOE intervention yesterday was sufficient to calm things down.
Jakers

Thank you Spights. Holding up nicely

WWP, yes it certainly is good for bp as oil is traded in usd... not so good for UK plc as all imported oil/gas has to be paid for in usd. Good also for our dividend payments.
Jakers