Member Info for Jakers

Hmmm... The 4% dividend increase is obviously welcome, however it will take until 2025 to get back to the level we were at a year ago.

YES

What exactly were the reasons for the 'writedown' of asset values...
Was it low oil price, or was it the realisation that much of the oil in the ground would never now be pumped out ?
If it had been low oil price only then surely the asset values need to be revisited/reassessed ???

Unless of course they are just going to hand out these shares free to Directors and Staff as part of remuneration packages ???

I tend to agree, however, it was expedient for BP to write down the asset value by something in the order of $12bn last year when oil price was languishing sub $40pb, that has contributed to the decline in share price together with the slashing of the dividend by 50%. Oil has held steady north of $65 for a considerable time now and I wonder if they will have to revisit the asset value computation again soon, it would certainly give the sp a boost gla Jakers

Unfortunately a lot of large institutional investors abandoned this stock when the dividend was slashed by 50%, and I don't think they will return anytime soon, unless there is a meaningful incremental increase in the dividend
GLA
Jakers

Hmmm, Don't forget that next Q we will have to meet a large payment against the GOM tragedy, in excess of $1bn so there may not be much free cash at Q2 end
GLA
Jakers

Thank you again Happy for your reasoned and detailed thoughts which I'm, by enlarge in agreement with, albeit I'm somewhat conflicted on the issue of dividend reduction if I'm totally honest.
Regards
Jakers

So what he is really saying is that the share price could go either way. Truly amazing prediction

BP took a massive impairment hit (or writedown) of asset value in excess of 12 billion dollars if memory serves. Oil prices have remained north of $60 for some time its true, however, please consider also
1. huge tax advantage of the writedown
2. erosion of asset base due to major disposals
3. will they re-evaluate asset value this year ?

Federal appeals court has rejected Ney York City's attempt to hold big oil companies liable for costs associated with global warming. This bodes well for BP and others embroiled in similar cases brought by several other states.

Exxon Mobil has signaled at least $2 BN uplift in profits for first qtr

I am amazed to learn today that the worlds largest banks have pumped a massive $3.8 trillion into the fossil fuel industry since the Paris Climate Accord. That is a massive vote of confidence in medium term fossil fuel. GLA Jakers

Well S66 one sure way to make it happen will be for all the "plonkers" to go off for european holidays.

Very interesting to see BP stake in Roseneft has increased by just over 2%

Brent 4/10ths off $69 and were still languishing. Feels like swimming in treacle at present

Hi Windows,
They base the rate on the average for the three preceding days prior to announcement date, which for this payment is 2nd Feb
GLA
Jakers

I tend to agree, but to my feeble brain pump less sell higher. GLA

Not sold up as I am sure this has a long way to go yet. Nice and welcome uplift this afternoon.
GLA.
Jakers

Good Luck James, with any luck you should avoid stamp duty on your purchase now that the suspension has been extended till end of June.
Jakers