Member Info for MarkGo

Hi Claire

No backlash from me. There is a debate to be had regarding the poor London exchange, but, in my opinion, it is too simplistic to believe BP, that already dual lists in the US, would benefit substantially by moving to the US. What would be the catalyst ?

The value gap has more to do with the business strategy of their US peers. BP is transforming from an Oil Company to a Integrated Energy Company. US peers are in the main easier to understand and invest in. Returns are not clearly visible yet.

Show me the money.....

Rather than the distraction of a move. I want the board to focus, as they are, on executing their strategy, one that I am in support of, and get returns from the transition investments on to the balance sheet.

Personally, I was pleased that Murray and Kate got their respective positions and I feel more confident with each quarter that these are the right people for BP going forward. Focused on returns and value. Listening to the Q&A and digesting the results, I am confident that the next few years 'could ' be some of BP's best with a fair wind and no unpredictable circumstances.

Why ? Well just one example....

AI revolution will be boon for natural gas.

AI boom to fuel natural gas demand in coming years, no small scale nuclear for a decade at least. At the low end, the sector could require about 160 terawatt-hours of additional electricity by 2026. On the higher end, that number might be 590 TWh. AI, data centers, and cryptocurrency together are likely adding “at least one Sweden or at most one Germany” to global electricity demand.

That's just by 2026 !!!!

Mark

Forget about delisting. At least anytime in the next few years

Murray answered an analyst's question today.

" delisting is not on our agenda "

Sir Keir hasn’t abandoned his far-left utopianism, this year having written to ‘Labour for Free Movement‘ saying he will “always” argue in favour of immigration, and wants a “radical” change of our immigration system. Speaking to Times Radio, he confessed he would open the UK’s borders to anyone wanting to live here: “family members should be able to live together”, and the UK “couldn’t function” without free movement of people who want to work here; claiming there’s “much more consensus than people think"

I give you the real Starmer.

Really

Thought police at play here. RAC*ST

halfpenny

the same far left socialist lawyer who when writing a review of immigration law and practice for a 1988 edition of socialist lawyer magazine, claimed there is a “****** undercurrent” which “permeates all immigration law”, making the extreme claims while reviewing an academic book on immigration law and concluding britain is “not very civilised at all” with a “****** and sexist” set of laws.

all immigration laws are ******. ks

neither does he recognise national border. he is an internationalist who sees the world poor as a priority over nations poor.

Hi Claire / meoryou

Claire. Just seen your post so apologies in my delayed response.

Regarding BP lightsource and jera, below is a link to an article that should explain the situation more succinctly than I.

Meoryou is correct, as usual, regarding BP unlocking value as the business grows and the article sets out their partnership strategic.

Take care and have a great weekend all. Mark

https://lightsourcebp.com/news/jera-nex-expands-presence-in-us-with-395mw-solar-farms-acquisition-from-lightsource-bp/

Good morning all

Harmonica. The oil market is closed over the weekend. Mon 0100 - Fri 2300. How will the market react ? If no further escalation from Israel or retaliation from Iran, then I would guess oil will be shorted in the short term pushing oil back down.

The limited tit-for-tat firework display was quite lame. More handbags than Shock and Awe. Fundementals are all that matters really but these dramas give oil traders a reason to make money in the short term.

Israel is speaking softly but carrying a big stick as Theodore Roosevelt would describe it. Israel never bluff when they say they will respond , but they often strike to send a message that allows their adversary to save face. It also has the military 'big stick' in case things go pear shaped.

So volatility to continue for now I expect. Medium to long term fundementals will win through.

Mark

BP completes takeover of Lightsource business

Deal for 50.03% of Lightsource BP leaves oil and gas giant with total control of renewables developer. Lightsource BP is expected to continue trading with a standalone operating model, retaining its independent brand.

October 25, 2024

Oil and gas multinational BP has taken full ownership of Lightsource BP, completing an acquisition first announced in November 2023. The deal for the outstanding 50.03% of the onshore renewables developer not owned by BP was closed for a reported GBP 400 million ($519 million). Approximately GBP 200 million of the price related to passing through proceeds from asset sales made before the acquisition was complete.

Founded in 2010 as Lightsource Renewables Energy, Lightsource BP is expected to continue operating under a standalone model, as well as retaining its independent brand under BP’s ownership. The oil company first invested in the Lightsource business in 2017, acquiring a 42% stake in the company for a reported $200 million investment.

Following the takeover, BP has consolidated Lightsource BP’s finance debt and eliminated an existing guarantee issued by BP. The oil and gas giant has stated it may also bring a strategic partner into the business “in due course.”

Lightsource BP has a 62 GW project development pipeline with operations spanning 19 global markets. Significant projects include a 560 MW solar plant in Greece, which is currently under construction. In August 2024. The company sold two ÚS solar arrays totaling 395 MW capacity to Jera Nex, a renewable energy developer launched by Japanese power generation company Jera.

In a statement, William Lin, BP’s executive vice president for gas and low carbon energy, said the deal creates an “engine for onshore renewable power development at BP.”

Joaquin Oliveira, group chief executive at Lightsource BP, added: “I’m excited to begin the next chapter, taking Lightsource BP to a new level of profitability, growth and performance. We will continue to scale this successful business, and also apply its capabilities to support BP’s low carbon energy business.”

Good afternoon all

Come on Charlie boy..

Claire, you undoubtedly have a wealth of knowledge and investment experience that has enriched this discussion forum since you joined, along with the other recent joiners.

I for one, enjoy reflecting on your opinion on BP, investing and all other associated matters.

Sharing knowledge is an act of charity and should be welcomed and appreciated. The appropriate response to a post one doesn't understand is simple. Either research it if curious, or ignore it if not.

I look forward to your future contributions.

Mark

Afternoon Primetime51

I hope you are having a good day. Great post, there are so many moving pieces in this global battle for power being played out.

Political maneuvering and new strategic partnerships resulting in unholy alliances that would never existed previously in more moral enlightened times, is commonplace.

It seems being our enemies, enemy is now adequate to be our friends regardless of acts of genocide, ethnic cleansing, mass murder and disrespect for innocent human life, the rule of law.

The West are using our proxy military in Ukraine and Israel just as Iran uses Hezbollah and Hamas. There is no difference o either side in lthe loss of innocent lives, the suffering and the misery caused. A plague on all their houses.

Your comment on " keeping US Arms in profit " is true but it is much, much worse than that. In terms of profit, war or conflict welcomed by influential lawmakers. During conflicts is always the function of the government of the day to legally transfer mass tax payers revenue from the people into the accounts of private hands.

A story as old as war.

Have a great evening.

Mark

Hi Claire

A very interesting, thought provoking opinion, as always.

Thank you.

Mark

Hi Primetime51

Firstly, an apology for my incomplete contributions being auto posted. Something wrong with LSE platform or maybe my Samsung phone.

Anyway, in my opinion it is only a matter of timing. Dead president walking, Biden, has the power to stop Israel by ceasing funding Isreal. At the same time as calling for the genocide in Gaza to stop, he has just authorised an additional $5.2Billion in ' emergency ' military aid. The Israeli defence ministry has stated that it's gonna receive this $5.2 BILLION emergency aids from the United States to bolster its air defences, including the Iron Dome and David Slinger and a laser system under development.

All sadly pointing to a substantial attack on Iran with no military, nuclear and oil infrastructure targets ruled out and who knows how this could escalate.

Isreal / Iran

The US THAAD air defense system that was sent to Israel became operational as of yesterday. This was essential prior to any action. Unconfirmed reports that a second system is in its way so perhaps another reason for a delay but it i

Kan News reports that Gulf states have urged Israel to deliver a strong and decisive response against Iran. Israel reportedly sees this as a chance to showcase its strength in the Middle East and counter both direct and indirect threats.

U.S. officials are extremely concerned about a potentially major security breach after two alleged U.S. intelligence documents about Israel's preparations for an attack on Iran were published by a Telegram account affiliated with Iran.

Israel’s response to Iran’s ballistic missile attack is already a “done deal,” an Israeli official tells The Times of Israel. Drone attack on PM Netanyahu’s home will not impact the scale or timing of the attack against Iran.

The Washington Post reports there have been long lines at gas stations in Tehran as well as residents stocking up on food. Dozens of domestic flights have also been canceled in anticipation of an Israeli attack.

Morning all

What if ?? Russia might resort to further nationalisation of its energy industry to cope with the challenges posed by international sanctions and other economic repercussions from the war in Ukraine.

прощание Rosneft ?

www.pemedianetwork.com/petroleum-economist/articles/geopolitics/2024/russia-reaches-for-nationalisation/?s=08

Evening meoryou and all.

I hope that we all outlive the BP's USA annual jamboree and that we live to see a resolution of BP's other act of spineless, politically driven, stupidity in walking away from Russia and Rosneft just three days into Putin's ' Special operation ' in Ukraine.

Why stupid, I recently researched the number of Western International corporations and institutions still operating 'Business As Usual' in Russia today years after BP's act of shareholder harm.

You may be surprised to know that over 1700 Western are still operating in Russia with the number of US companies top at 328, followed by Germany 242 and China 205. We can all be ashamed or proud that the good old hypocrite, the United Kingdom comes in 4th place. Even UKRAINE has FIVE corporations still operating in Russia today.

So if BP manages somehow to salvage some shareholder value from OUR stake in Rosneft and the liberal elite demand that we donate our stake or banked dividends to Ukraine, in front of every company still operating in Russia,

my view would be that they and the West can **** OFF.

Great evening all.

Mark

So when

mainly US, German and UK

Evening meoryou and all.

I hope that we all outlive the BP's USA annual jamboree and that we live to see a resolution of BP's other act of spineless, politically driven, stupidity in walking away from Russia and Rosneft just three days into Putin's ' Special operation ' in Ukraine.

Why stupid, I recently researched the number of Western International corporations and institutions still operating 'Business As Usual' in Russia today years after BP's act of shareholder harm.

You may be surprised to know that ov

mainly US, German and UK

Hi meoryou and all.

Meoryou, I recall that we have chatted about this mass fraud a few years back

Same ol' yank grifters, spivs and bandits. A $62 billion free for all.

The article below is by Ed 'CROOKS' from 2017, so the 100 jailed scammers is most probably an underestimation.

https://www.ft.com/content/6428c082-db1c-11e6-9d7c-be108f1c1dce

More than 100 jailed for fake BP oil spill claims

Data show scale of fraud over US’s biggest environmental disaster

More than 100 jailed for fake BP oil spill claims

Ed Crooks in New York JANUARY 15 2017

More than 100 people have been jailed for making fraudulent oil spill claims against BP, highlighting the scale of fraud the energy group faced as it tried to contain damage over the US’s largest environmental disaster in 2010.

The data, released by the US Department of Justice after a freedom of information request, showed that 311 people had been convicted by last September, with 102 sent to prison. Seven of those have been given five years or more in jail, including one sentenced to 15 years.

BP has paid out billions of dollars in compensation claims over the Deepwater Horizon disaster in the Gulf of Mexico. When the disputes were at their height in 2013-14, the company waged a public campaign against what it described as “outrageous” claims, taking out full-page advertisements in US newspapers arguing that “what’s happening to BP is bad for American business”.

Lawyers representing claimants, however, have argued that the level of fraud was low relative to the number of claims paid out. BP’s first compensation mechanism, the Gulf Coast Claims Facility, paid more than 220,000 claimants, and by the end of last year a further 153,000 claims had been paid out under a settlement agreed with plaintiffs’ lawyers in 2012.

BP declined to comment on the sentencing data.

The legal actions over the disaster have been winding down, and only about 1,000 active cases remain, according to court orders issued last year.

BP announced last July that it had drawn a line under the total costs for the spill, putting the total for stopping the leak, cleaning up the oil, criminal and civil penalties, damages, and compensation at about $62bn before tax.

BP first estimated that the accident it would cost $7.8bn. It cost $62bn

The good news is that the biggest corporate fraud gravy train in history will end the annual handout of $1.25bn around 2031. (From memory)

Have a great Sunday all

Mark

Good afternoon all

The Washington Post's report is just the latest in the "Battle of the oil headlines", that indirectly controls the oil market short term.

In the good old days the price of oil moved conservatively in line with economics . The oil price today is now controlled by a bunch of algos trading news headlines like a ping-pong match. Just two weeks ago, President Biden blurred out "accidentally" that Israel was contemplating a strike on Iranian oil facilities, which resulted in oil surging.

A few weeks prior, oil crashed on a groundless FT article regarding Opec ' dropping its $100pb target ' utter BS but oil and equities crashed based on this ' unnamed source ' garbage.

As I woke up this morning I saw that oil has crashed again following a news report from the Washington Post that Israel will only strike military targets.

Geopolitics ' should ' be nothing but a side- show for the oil market. Fundamentals should determine whether or not oil prices are overvalued/undervalued. In the case of the oil market today, in my opinion fundamentals support higher prices but this doesn't prevent oil from being yo-yoed back and forth from the neverending headlines.

I strongly advise focusing on what's important. While the battle of the headlines won't be ending anytime soon, it represents a great opportunity for those who can to 1) Top up. 2) Zoom out and ignore the noise and 3) take a longer time horizon. It's all about where we are heading not where we are today.

On the Washington Post's report, Israel didn't give the US advance notice of the Nasrallah assassination and the pager explosion because they were concerned about leaks, so it's hard to believe that in the run-up to this retaliation they would have informed various US officials of the target to the point where it could be leaked to a Washington Post reporter.

If the Washington Post's report was 100% true, Israel would have remained silent, but the Israeli Prime Minister's office has publicly refuted it, saying that Israel will decide for itself.

Why would Israel choose an attack that doesn't do any real damage to Iran and only gives them a reason to retaliate? Israel has to be more worried about hitting too softly than hitting too hard.

Listen to what many Israeli far-right officials have said publicly in recent days....

"Even if" there had been an agreement to only strike military installations, it seems likely that Israel's thinking will change after seeing the leaks...

Great evening all.

Mark

Good afternoon all.

As a long term contributor to this forum, I would like to extend a belated welcome to the new contributors to the BP forum: Claire, Auson, Primetime51, Silverpoint, Cunningfox, and others I may have inadvertently missed.

Your valuable insights, analysis, and experience are highly appreciated. I look forward to all of your valuable continued contributions to the forum. This, alongside the forum's 'veteran' contributors will greatly enrich this forum on our joint journey to riches.

Have a great day all.

Mark

Evening all, the API / EIA crude inventory data was just for information.

Have a great evening all