Member Info for MarkGo

U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Reserves. Political opportunism and timing of a planned rreserve storage closure over the peak driving period, on the run of to the election.

API data not good or expected. Still one week does not a summer make. EIA data will be interesting, as will full holiday demand data next week prior to Opec+ decision.

I expect my optimism was a week too premature. Large draws coming next week......I hope.

Https://oilprice.com/Latest-Energy-News/World-News/US-Department-of-Energy-to-Release-1-Million-Barrels-of-Gasoline-from-Northeas.html?s=08

The Summer driving season, lasting from Memorial Day on Monday 27th May to Labour Day is a few days away Typically, during driving season, U.S. gasoline consumption is approximately 400,000 bpday above the average for spring and autumn. Typically, above average consumption raises demand and can lift the price of oil.

This will be an interesting period to assist in seeing if physical demand is strong or not. My money is on brent at least maintaining the low 80s for the rest of the year into 2025, excluding small temporary pull backs, but I would not be surprised at all to see a push up into the 90s, dependent on Opec+ rolling over the cuts, by early June. ( kiss of death warning ! ) and strong demand and inventory draws.

United States API Weekly Crude Oil Stock is released tonight, May 21st at 20:30 GMT The oil price at that time will tell you if there is a large crude draw from inventories or otherwise.

An API data draw of around +3M is the minimum in my opinion required before US holiday weekend, backed by EIA data on Thursday.

We'll see in an hour or so.

Mark

BP plc has announced the issuance of a series of Guaranteed Notes totaling $2.5 billion, with varying maturity dates ranging from 2027 to 2034. The notes have been fully authorized and are considered valid and legally binding obligations of the company, in accordance with English law and the laws of New York and Delaware. This move is set to bolster BP’s financial structure and provide investors with new opportunities in the fixed-income market.

They purchased back $1Billion in higher yield notes in February. These guaranteed notes are at lower rates but still an additional to debt.

Have a great day all

Mark

Foggy

Dividend higher than the FTSE average and higher than most of its peers was the point I was making.

Have a great day

Hi and your welcome meoryou

Not a lack of attention on your behalf. Fool have BP LSE as part of the article.

Feeling positive for this week.

Onwards

Just for clarity

Burry bought 175k BP ADR shares not ftse. His current BP holding is $6.56M.

Michael Burry's position in BP plc is currently worth $6.56 Million. That's 6.12% of the entire equity portfolio (7th largest holding). The stake costed the investor $6.27 Million, netting the investor a gain of 4.6% so far. I don't expect there is any other investment reason other than the same reason I'm invested in BP

BP stock offers a high dividend yield of close to 5% and a low forward P/E ratio of 8.58x.The company's dividend is suler safe with low payout ratios and there is room for dividend increases year in year out of min 4% , probably more like 10% in the future.The value is further enhanced by its aggressive share buyback program, a further minimum $14B by end '25 especially under current P/E.While

EPS growth may face some headwinds in the near term, I expect a solid rebounding in H3 into the coming 1~2 years.

$2B cost savings pa by 2026, higher for longer oil, transition engines producing returns 2025 onwards. Global oil shortage predicted by many respectable analysts by end 25. Undervalued... What is not to like?

Oil has rebounded to around $84, With refining margins moving higher and global oil inventories set to drop in the coming weeks as peak season commences and the $8billion odump of oil futures completed, I expect that tomorrow it's

Goodbye the dip

Mark

Off topic apologies in advance.

Hi again Jeezoo

I have been on the receiving end of and utilised semi-truthful ways of delaying exchange of contracts or completion dates when it comes to my property sells or buys.

I certainly would not promote or condone such action but the legal system is as it is. No contract until exchange. No purchase until completion ( gambling with deposit )

I hope all your ducks line up at the appropriate time Jezzoo when you need your funds but if for whatever reason they do not some may suggest the dark arts of stalling.

Communication is key of course, you don't want to lose your bargain dream home but things do happen in life that can delay plans. Most sellers, I would guess ate amenable to some delay in the process and do not want to lose a buyer.

Maybe I'll leave it there before I exiled.

Buying or selling s property is immensely stressful and I hope you get your dream pad and, along with he wise meoryou, I'll be crossing everything and holding you in my prays and chants.

From the top of the mountain, i can see a wonder land just over the horizon.

Best

Mark

You're welcome Jeezoo

To be honest, I did not expect the share price to be where it currently is. I have however used the opportunity to top up again as I feel this is just another temporary drop. I've noted that the drops are maintained for a shorter period each time recently. Volumes are down which does not help and there are always unpredictable occurances and that can trigger selling. You can see oil is now bouncing up again after the dumping of 8 billion of oil futures contract last week, this caused the technical selling and subsequent price drop of oil. Nothing to do with supply or demand just on financial companies manipulating and skewing of markets.

My money where my mouth is, I expect a climb from here back to around the 510s within a week or two supported by large crude draws over the next few weeks. Consensus is that Opec+ will roll over the cuts at the beginning of June at the same time that the oil market will become very tight pushing oil and equities up further through the summer.

Nothing is certain of course as there are always unforeseeable unknowns but I hope I'm overly cautious on the share price to assist with your house purchase.

Good luck again with both.

Mark

Foggy

1999 2 for 1 split

By the end of the year the dividend will be higher than savings interest in my opinion possibly before then.

I don't drive my car looking in the rear view mirror.

I'm a fledgling long term holder.

Good luck to you.

Hi again Jezzoo

I hope you are well and that the house purchase is going okay and I hope a rally will coincide with your requirements and I certainly was not aiming my comments at someone in your position. Crude draws are coming in the next few weeks as peak season commences. This 'should raise SP back up into the 5s. I will be extremely surprised if the SP does not crawl up from here. Good luck.

Mark

Hi Jezzoo

Sorry I pressed send by mistake........

Hi Jeezoo

I hope you are well. My comments were not directed at all to anyone,

"Life is about perspective and how you look at something... ultimately, you have to zoom out."

-Whitney Wolfe Herd.

Ex - dividend day, a sub 2% share price drop and the amount of bellyaching and whinging has left me dumbfounded. What did you expect to happen today ? I do respect everybody's genuine opinion and point of view, but on a day like today when armchair CEOs regurgitate the same old bilge on dividends, buybacks relisting, sack the board and even exhuming Looney’s corpse for a kicking, I wonder what some of you, as BP shareholders, want from the company and your investment ?

I have only held BP and Shell since December 2020 so I do appreciate that my view point and perspective will be different from the long term holders in so far as roi, but looking forward not behind from today, I see a fantastic opportunity investing in BP along with the institutional investors who the board meet with regularly. The best years are ahead in my opinion and thats how I judge progress in years not days or weeks and especially not on share price movements on ex dividend day. I will review end '25 and expect to hold until 2030.

For those who are hoping for 510-520 to trade or sell out I expect you won't be waiting for long in my opinion.

Mark

Last rant on a quiet day.

There has been a debate for months about whether it would be legal or even wise to confiscate the frozen assets altogether. While the United States and Britain have favored confiscations, significant objections have come from countries like France, Germany, Indonesia, Italy, Japan and Saudi Arabia, as well as from officials like Christine Lagarde, the head of the European Central Bank.

They argue that confiscation would be a bad precedent, a violation of sovereignty and could lead to legal challenges, financial instability and retaliatory seizures of Western assets abroad.

Many of the Russian assets in the west are owned by shareholders not the Russian state but what does matter.

Putin has not made any movement to do the same with the west's assets in Russia but he will probably do so in response.

How does unlawful theft become morally correct because the west ( US ) decides it is.

US driven G7 plan to unlawfully steal, seize and sell $300 + Billion of Russian assets frozen in the west to fund Ukrainian conflict and rebuild another corrupt country.

Goodbye to BP's $22 Billion Rosneft stake.

This may be 2 + 2 = 5 but an interesting, speculation provoking question is how does Musk disband his entire Supercharger team and still, as he said last week, expand the Tesla supercharger network this year. Maybe the answer is 5.

We wait and see.

Apologies for the end. Pressed post by mistake before my conclusion. Either fat fingers or no glasses to blame

WP

The truth is that no one knows outside of Musk and BP. Tesla have refused to comment on the speculation.

What we do know is that Musk wanted to scale back the Supercharger team to cut costs by laying off 14% of employees and when the team's chief, Rebecca Tinucci refused Musk laid off the entire Supercharger team and it's Chief.

Sometimes you do get smoke without fire as with those ghastly strawberry chocolate flavoured vapes but there may be something going on beyond the £100m order for Tesla Superchargers as announced last November. The £1 billion figure is lazy as the expenditure to expand the programme will cost billions more over the next few years. Does Musk want to spread his diminishing revenues on this project or focus on saving his car business, one in my opinion is in terminal decline in the face of Chinese competition.

However, one man's trash is another man's treasure, so the move prompted energy companies to battle for the Supercharger sites and former employees.

Evening meoryou and all

Hi meoryou, this should be very significant and very lucrative should the rumour become fact. EV's are currently going through silly season with the press knocking EV's at every opportunity. Half - truth stories about Mercedes, Ford etc scaling back on EV production or extending full electricity vehicle production deadlines has more to do with short term economics rather than any fundementals.

EV's are here to stay and will be the only new car to buy in ten years. Sales of electric cars, maybe out of vogue with the media, but starting from a very low base they are growing quickly in many markets around the world. Globally, around 25% of new cars sold were electric in 2023. In Norway, this share was over 90%, and in China, it was almost 40%. Once the US infrastructure improves, and prices and production costs ease, which is currently starting to happen thanks to Chinese EV production / competition, US EV numbers will boom as will the delayed production of EV commercial vehilcles in the next few years. Investing now for that inevitability makes excellent financial sense. Together with the Travel Centres of America deal, this would put BP at a competitive advantage with massive revenues in 5 to 10 years in my opinion.

From those investors who dislike the transition strategy to the O&G ONLY luddites. EV's are here to stay and as demand for petrol and diesel reduces over the next decade demand for premium EV charging will rocket.

Have a great evening all.

Mark