Member Info for MarkGo

I think many oil traders maybe locking in recent gains but I still think the price has higher to go in coming months.

Not on my own....

Options Traders Are Betting On $300 Oil

https://oilprice.com/Energy/Crude-Oil/Options-Traders-Are-Betting-On-300-Oil.html

For any Oil price geeks.

Brent live price chart

http://www.m.livecharts.co.uk/MarketCharts/brent.php

Great to see BP being the third biggest buyer of the new GOM leases behind, Chevron and Anadarko for the 1.7 million acres sold. This demonstrates the fact that BP are going to remain a major oil producer for decades to come.

The temporary drop in the price of Oil is a result of Biden's woeful attempt to lower the price and pressure Opec into supplying more. You may recall him stating that he has 'tools' to achieve this.

His 'tools' seem to be contacting othercountries to request they release their strategic reserves. The US reserves are at an all time low already. Any attempt to lower the poo will only be temporary. Once reserves are at a certain level, by law, countries will have to stop releasing reserves and the poo will rise again. Today's corresponding share price drop is nothing to worry about.

BP's operating break even point is below $40pb. The transition strategy priorities are, a dividend growing by 4% per annum until 2025, $1b+ buybacks per quarter until 2025, debt reduction and investment in the low carbon transition . All achievable at $60pb. Brent is at $80pb.

Have a great day.

MarkGo

Hi Albrittsx and welcome.

I would not worry too much that you are down at the moment. I am in the same position.

We are all betting, sorry investing, with the opinion that BP is an undervalued stock with a great long term strategy that should eventually be reflected in a higher share price.

Its just a matter of patience. As you are new to investing, to see a loss of £1400 can be depressing but it is not an actual loss unless you crystallise the loss by selling your shares.

So patience is the key here.

As far as the next month or two. BP's Q4 results are in February. I would hope that the share price will rise from where it is now as we approach the results. No guarantees just my opinion.

If you are investing for the long term try to ignore your daily, weekly movements, easier said than done for me, and your loss will become a gain in time.

Happy investing and have a great day

MarkGo

Chittybangbang

The dividend policy is fair in my opinion taking into account the transition. The current dividend is to grow by 4% per annum until 2025, I see that as a loyalty payment for investors to remain invested during the transition. I see BP now as a growth stock with the bonus of a dividend.

'If' all goes to plan, and currently Looney is on track to achieve more than targeted ie. 20 gigawatts of renewable energy by 2025 now increased to 25 gigawatts as in Q3 results, the growth per annum in the SP going forward 'could' make the dividend look like pocket money.

I am of the opinion that BP needs to be given time and I am planning now to remain invested at least until 2025.

Boring, slow progress, massive growth stock.

Aviduser

" Don't fret " sound advice mate. Thumbs up to that.

Looking like a good day. Good luck mate.

*ADR I hate predicted !!

Hi Smithy mate.

I thought so RDS ASR is ' off its Rocker" Shell's news seen as positive. Good luck matey. I don't hold rds but really pleased for you Shell guys. Onwards and upwards

* off its rocker

0.5 % up. Hardly 'off its rocket' territory

Smithy

ADR 27.52 ÷ 6 conversion £3.41

Aviduser

"What a difference a day makes " as the song goes.

You yesterday " the stock is so cheap compared to cash flow that I can’t see that it doesn’t go back to 2019 SP level"

You today " I’m out of this share at 400 and will stick to the s&p "

and the difference a month makes.

15th Oct " FINALLY the day we broke resistance and its blue sky to 400 "

What happened to your "don't fret " advice.

All in jest. No offence meant. I am happy to stick with your 400 by spring, positivity.

No one on this board has any idea what will happen especially me.

Have a great day

What a bunch of fraudsters.

A back slapping farce and a loosely worded, kick the can down the road, agreement.

Now pack up and frack off hypocrites and let's get back to reality. Nothing has or will change. So, on to the Egyptian sunny beach resort of Sharm El-Sheikh for COP 27 for the farce, next episode.

From begging third world tyrannical dictators to the protectionist West, empty rhetoric, manipulation of words, virtue signalling and, after two weeks, a 'fudge', a jolly up and at the end of the selfish, self national interest farce, many rounds of claps and back.

Enso

Thank you for that informative post. That really makes sense and I have learnt something today.

Mt T, meoryou, Enso and the rest of the treasure hunters, l hope you all have a great weekend.

MarkGo

meoryou

Hi, and thanks for that response. In regard to the green Brigade selling, I do see this as 'in vogue' virtue signalling especially with Cop in play and maybe short lived.

I was just reading about the darling of the green energy lobby, Orsted's target for 50GW of renewable generating capacity by 2030, the same as BP's. One company loved and one hated by ESG investment.

BP reported at Q3 that their target for renewable energy for 2025 has been raised from 20 to 25GW and on track. Orsted's 2025 target for offshore/ onshore wind and solar is just 20GW

Time is needed for sentiment towards BP ( evil ) to change and slowly quarter by quarter I hope it will. One positive is that competition are starting to find fund raising an issue for investment. BP has its own money print all the time Oil remains high. I hope it does for a number of years and the above makes me feel better when I am filling my car these days.

Smithy

'The lady doth protest too much ' What does that mean ?

Your wit is too intellectual for me.

Hi Tinker

Firstly, thank you for taking the time to respond with your opinion. Really interesting.

I hope that your patience will eventually pay off and the SP will regain its previous heights sometime in the future, hopefully a year or two.

Regarding the buybacks, we are where we are but I do wonder where the SP would be without the support of daily buybacks of circa 8.5 million shares.

I guess the hope is that the selling 'slack' will eventually be drastically reduced and cancelled and a slow push up helped by less shares in circulation.

Anyway, I hope we get back to your £5+ in the future.

Have a great weekend Mr T and all.

MarkGo

of potential 'super cycle' in energy markets

Sound good to me..
MOSCOW, Nov 12 (Reuters) - Russia's Rosneft the
world's second-biggest oil company by output after Saudi Aramco,
warned on Friday of a potential "super cycle" in global energy
markets, raising the prospect of even higher prices as demand
outstrips supply.

Surging oil prices, boosted by rebounding economies
worldwide, lifted Rosneft's net profit to 314 billion roubles
($4.4 billion) in the third quarter, versus a loss of 64 billion
roubles a year ago, the company said.

"We observe a rapid growth in demand for traditional energy
resources," Rosneft Chief Executive Igor Sechin said in a
statement. "As structural discrepancies between supply and
demand on global energy markets are further revealed, we may
witness a new super cycle on the oil and gas markets."

The Organization of the Petroleum Exporting Countries and
allies including Russia, together known as OPEC+, have been
increasing output to meet growing demand from late last year,
and Rosneft's oil production rose to 3.98 million barrels per
day (bpd), up by 9%, in the third quarter.

Yet at a meeting last week, OPEC+ stuck to a plan to raise
oil output by 400,000 bpd on a monthly basis, snubbing calls
from the United States for a higher increase to keep oil prices
in check.

Hi Smithy

Your view on my buyback head scratching question

BP are purchasing around 8.5 million shares per day as part of their buyback programme. At present, around 12 million shares have been traded today.

Excuse the stupidity of this question but with a daily trading day of a near guaranteed 8.5 million share buyback purchases is it not the case there must be at millions more shares being sold / dumped for the price to continue to drop as most days recently.

So each day with more sells than buys, even with 8.5 million every day purchased the SP goes down. There must be a BP shareholders selling due to lack of confidence in the company?