Member Info for meoryou

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Don’t apologise for boring people it’s often the off topic that is most interesting.

It’s also amazing what people don’t realise they don’t know.

I’ve been investing over 40 years and still learning lots.

Appreciate the posts,and a better understanding.

Afternoon Spights

Looks like your November a bit like ours for Birthdays.

Last one of 3 this month ,is wife’s birthday tomorrow.

Managed to sneakily buy a card while shopping with her today.

All fine here, hopefully same with you and yours.

It’s only about 6 weeks ago,that six pounds looked very likely.

I know you have still time, but Santa will have to work extra hard to deliver this time.

Think we are about £1 off my target.

Onward and Upwards please,we can’t end this year below £5.

It’s just not allowed.

Https://oilprice.com/Energy/Energy-General/Why-Gasoline-Prices-Fall-Almost-Every-Year-Between-August-and-November.html

Bit more info

Oil Majors: Are BP And Chevron Attractively Valued After Share Price Tumbles?

https://markets.businessinsider.com/news/stocks/oil-majors-are-bp-and-chevron-attractively-valued-after-share-price-tumbles-1032852036

Https://www.proactiveinvestors.co.uk/companies/news/1034325/bp-gets-upgrade-as-recent-slide-has-gone-too-far-suggests-bank-1034325.html

Https://www.ii.co.uk/analysis-commentary/trading-strategies-outlook-bp-shares-ii529992

BP hopes to launch Tortue FLNG project in Q1 2024

https://lngprime.com/lng-terminals/bp-hopes-to-launch-tortue-flng-project-in-q1-2024/96237/

One thing for sure.

The energy system of the future will be different from now.

Historically it was coal is king.

Then North sea oil.

Then the dash for gas.( for power stations).

Energy markets evolve to what is cheapest.

In some areas green now makes total sense due to location,and lack of natural resources locally.( particularly on islands where diesel generators were used in the past).

No one really knows what the future energy system will look like.

But yes oil will be around for some time yet( and not just a couple of years)

Planit

To balance your message which isn’t very negative,but merely realistic.

If we are even talking about the possibly of people bidding,it’s an indication that there is still value there to unlock.

That’s very positive.

Also

If US firms stay away because of politics.

That still leaves Shell.

I know they would have political considerations in Netherlands as it would make them even more a UK company.

I don’t think it will happen,but the longer it takes to replace CEO, the more chance there is of it becoming self fulfilling.

At some price it really is a no brainer

A strong chairman has always been essential.

His job description is to challenge everything, and keep the CEO from going native,and forgetting where his responsibility lie( to the shareholders)

The following from Seeking Alpha

Attractive pipeline

BP has a top-tier upstream pipeline and expects upstream production to increase to 2.3mboe/day by 2025, vs. 2.25mboe/day the previous year. 9 high margin projects with attractive project economics will be commissioned including Seagull in the UK, Mad Dog phase 2 in the US, etc. adding ca. 200kboe/day in new capacity. In addition, BPX (the US onshore operation) will be adding more than 100kboe/day. BPX should grow well into 2030, increasing production by nearly half vs current levels to nearly 650kboe/d. Additional growth areas include the Gulf of Mexico and the UAE. Overall oil liquids production should grow by a CAGR of 3% into 2027, providing upside in a higher-oil price backdrop.

BP is focused on maintaining a mid-teen to 20% IRR hurdle rate with oil at $60/bbl. for new projects. We would also like to note that BP’s breakeven oil price has fallen by nearly three quarters from its peak, and the group is focused on cost optimization and good capital allocation. Ca. 200kboe/d of lower margin production will be divested to optimize the portfolio.

BP expects its oil and gas mix to be balanced by 2030 backed by robust gas demand. LNG supply should increase from 19 million tons per year in 2022 to 25 million tons in 2025 and 30 million tons in 2030. This is underpinned by equity and merchant projects including Tannugh Train 3, GTA Phase 1, Coral, Calcasieu Pass, etc. We believe the robust project pipeline makes possible continued high cash generation and capital returns while financing BP’s green ambitions and its transformation into an integrated energy player. BP's attractive pipeline and portfolio optimization efforts are key elements of our long thesis on BP.

https://seekingalpha.com/article/4654100-bp-integrated-energy-major-with-attractive-mid-term-returns

Trying to read the tea leaves from it all.

Think there have been a few leaks from the board, which suggests that there are people there,who share some of the concerns voiced here.

To use the line from a song

“ Things can only get better”

Dr P

The only plus side is if it gets fixed the sp will jump.

Looking more likely to be an external candidate.

With all that’s going on maybe £4.75 is actually a remarkably good price.

There must be a huge up side, and the possibility of Shell stepping in can never have been larger.

Https://www.ft.com/content/8c558b8c-fde8-433a-b413-5d50f951289c

That’s another Non-Executive Director purchased 10,000 shares couple of days ago.

They haven’t been seen purchasing a lot recently,so thats 2 within a week.

Hope that means they are pleased with the earnings and see this sp as a short lived bargain.

The BBC finally reporting a bit about the down side to the tax hikes and their part in reducing North Sea production.

And how this will result in more imports with a higher climate impact.

It might just start a grown up discussion about, how we go forward,instead of the silly strategy path we are on now

You may be right.

But the BP way used to be to look inside and out.

After weeks of looking ,they would then appoint the person doing it.

Time will tell, there really doesn’t appear to be any hurry going on.

At least we are saving a wage.

Maybe it’s Santa Rally December

New CEO rally January

Merger rally February.

Just a pity there will probably be a fall between each rally.

Wouldn’t it be nice to be able to add them together

Https://news.sky.com/story/bp-picks-search-firm-to-identify-next-ceo-after-looney-ousting-13013561

You do just wonder if OPEC are just playing the oil market.

According to a report I read last week they are active at shorting and going long.

Or in anyone else’s language “Insider Dealing”.

So could they just be being clever( or hurting the shorts).

If so once again it will turn quickly when they are ready

Clued

You can take the on line interview just now if you are free.

Questions

1) what are your plans for the div.

2) what are your green plans

3) what are your thoughts on take-overs

4) have you any plans for BP to leave UK

4) do you like buybacks.

5) Can you keep your ….in your pants.

Thank you for your time.

We will be in touch