Member Info for MarkGo

Both Exxon and Chevron have reported Q1 results under estimates and both are down premarket. This will probably be a drag across to BP today going into next week's results. I don't expect BP's results will push BP higher beyond 390s unless massively market beating, in fact, I expect BP will stagnate or fall on results day due to sentiment, uncertainty ie Rosneft, regardless of how many wild bean coffees are sold !

Every quarter BP rises prior to results then to fall for a period of time after. I expect the SP is peaking this quarter.

Eventually, in a few years BP should come good. Long term looks really, but this quarter will 'probably' be a non event.

meoryou

Excellent posts. Thank you.

Mark

Hi meoryou

I hope all's well with you. A great break, thanks, and a chance to reset and refocus.

BP's share price today.

As well as oil dipping, I think Shell's RNS this morning probably has a carry over to BP. Shell's announcement of a possible $5 billion hit for pulling out of Russia makes me anxious as to what other BP Russian operations could cause an additional hit outside of Rosneft. Could similar be around the RNS corner for BP ?

Also, Shell's announcement on cash out flow probably applies to BP as well, so while not reverting to any negativity, my short term expectations for a stonking Q1 are tempered by these and possibly other unknowns.

All issues should be easily absorbed if oil remains anywhere near where it is today for a prolonged period.

Good luck mate.

Mark

UK energy strategy to ‘breathe new life’ into North Sea and Net Zero
A commitment to North Sea oil and gas while ramping up nuclear, hydrogen and offshore wind, is at the heart of a new UK strategy to protect consumers from future surges in energy bills.

Looney has been involved in the drawing up of this govermental policy to BP's advantage. It's public knowledge that a number of meetings have taken place between Looney and Johnson over recent months. The link below shows Looney alongside Johnson at a recent meeting to draw up the announced policy with other stakeholders.

Credit where its due. Looney is clearly in a position of governmental influence and this can only be to shareholder's benefit. It is possible that Looney's ' first mover ' strategy in transitioning to an integrated energy company could be a master move and extremely lucrative one for investors in years to come.

Mark

https://www.energyvoice.com/oilandgas/north-sea/401315/uk-energy-strategy-north-sea/?utm_source=Sailthru&utm_medium=email&utm_campaign=Energy%20Voice%20-%20Daily%20Newsletter%202022-04-07&utm_term=Energy%20Voice%20-%20Newsletter

Morning all

This may be of interest to others as it was to me.

To gain a fuller understanding of the business strategy, I found the the two most recent quarterly earnings conference call transcripts( below) most informative.

The question and answer session towards the end of each transcript between Looney, the CFO and the analysts ( who are the ones who make the broker price targets for each institutional ) was really helpful for me to understand my investment.

There is a wealth of information on every part of the business strategy going forward.

https://www.fool.com/earnings/call-transcripts/2021/11/02/bp-plc-bp-q3-2021-earnings-call-transcript/

https://www.fool.com/earnings/call-transcripts/2022/02/08/bp-bp-q4-2021-earnings-call-transcript/

Have a great day.

Mark

Hi Theaky

Yesterday you posted about Looney needing to scale back the transition and today about 'Gardens of folly' referring to wind power and that Looney should concentrate on O&G.

With respect, you seem to have a misunderstanding of the business you are invested in. If you have some spare time, I would suggest reading through the BP quarterly results, conference call transcripts. This will give you a good understanding of their strategy.

Today's new energy policy announcement puts BP in a fantastic position going forward with the ramping up of offshore wind and hydrogen power. Nuclear is planned to provide 50GW of power by 2050 !! It's just part of the mix. BP is set to provide, at least 50GW of renewable energy by 2030 along with a massive highest profit, lowest cost hydrocarbon business. BP is in an excellent position for long term investors.

I have been bearish on the short term due to Rosneft and other Russian interest unknowns, unexplained company actions etc but long term BP are positioned to succeed all things being equal.

Mark

Goldman Sachs raises BP price target to 590 (580) pence - 'conviction buy list'

Evening all

While Opec announces that it's sticking to it's policy to increase supply by 400,000bpd each month, Biden, in response, announces a massive release of 180 million barrels over six months from June, ( an extra 1 million per day ) from reserves, he condemns oil company dividends and buybacks and demands more oil production.

COP26 rhetoric, a distant memory now !!

The question is, how will Opec respond at their next meeting?

https://www.aljazeera.com/economy/2022/3/31/biden-to-release-a-million-barrels-of-oil-per-day-to-cool-prices

Meeting over. No real change in policy. Adding 432,000bpd in May up slightly from the policy of 400,000bpd monthly increase.

Oil always falls on meeting uncertainty and will rise now in my opinion and hopefully drag BP back up with it.

Mark

Muchas gracias amigos !!

meoryou

Ola mate, I hope you and all are having a great weekend. I'm at work today but off to Tenerife in the morning so feeling happy and moan free !!

I thought you or others maybe interested in this article from the Sunday Times today.
Helge Lund: BP’s quiet man who said no to Putin’s oil. Some background to the decision to exit Russia but mainly about Lund.

https://www.thetimes.co.uk/article/4cf86f52-a77c-11ec-a9dd-14c997a643ea?shareToken

The Times have to get in anobligatory anti BP/ fossil fuel bless them....

" BP is one of the world’s biggest polluters, directly or indirectly responsible for 415 million tonnes of carbon emissions in 2019, the last full year before the pandemic — again, more than the entire UK "

To end on a positive. Dividends paid on Friday so a silver lining to BP's recent dire share price performance for all those intending to reinvest their dividends. ( I couldn't help myself. )

Good luck to all this week.

Adios.

Mark

See what happens when moaning is prohibited

Double

No need to be like that. You could of just posted, thank you for the link Mark.

I'm glad to have been of some assistance to you.

Mark

Oiled

Come on now mate.

We rely on feeding off of new BP shareholders optimism.

You have only been a shareholder for a week and your as cynical as the worst of us. !!!

Nothing to do with my posts I hope.

On a brighter note.

From CNBC 30mins ago

https://cnb.cx/3iaZiP9

Mark

Oiled

If you stick around you will get to know Harmonica.

She is the forum word and grammar vigilante. Like a spell checker with attitude that you can't disable.

Sorry to see your gain turn to a loss today..... Stay invested in BP and you will get used to that too.

Have a good evening

Mark

Big call option activity in BP in US , just been on CNBC

Interesting

Any further detail ?

Hi Oiled

Well, welcome to the BP pleasure dome !!

I liked your Samaritan comment. Lol. I have that effect on some.

Coincidentally, I have heard that the Samaritans do actually have specially trained counsellors for BP shareholders who are feeling lonely, depressed and very confused.

Dedicated signs with their contact details have also been strategically placed at known suicide hot spots such as the top of Beechy Head cliff and on the Cliftonville Suspension Bridge.

Gallows humour.

Msrk

Spights

Excellent. I'm invested too. Glad you're smiling.

I see banks doing well from recent lows. BoE interest rate decision tomorrow and Lloyds ex dividend in a few weeks so looking good.

Also invested in Coke Cola recently. Up 9% today !!
Maybe in BP we are invested in the wrong kind of black stuff.

Good luck with Lloyds mate

Mark

Hi Spights

Off topic. Did you invest in Lloyds after all, if you don't mind me asking. ? Up 15% in a week.
BP holders can only dream.