Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thanks Mark
Several Arab countries are very unhappy with Iran as it takes away the spotlight from what Israel is doing in Gazza.
So I’m hopeful that is likely to become a bit quieter.
Think it’s typical that it all happened just before the weekend again.
Regarding your defence of Spights who we know is not like that ( and very able to defend herself).
Think it was a master class in almost being polite,but just a bit prickly.
I too see a very bright future for BP.
There are a lot of parts doing well.
If oil stays around these levels the rest of the year,BP will only get stronger .
I firmly believe that there is now a more disciplined approach to where investment money is being directed.
And with this oil price they can probably sneak in an extra oil project.
Think today’s announcement shows things are moving on to be properly post Looney
Seems a bit dramatic a 3% drop.
When
“ In gasoline, the authority estimated an inventory draw of 1.2 million barrels for the week to April 12, which compared with a modest build of 700,000 barrels for the previous week”
“ In middle distillates, the authority estimated an inventory decline of 2.8 million barrels for the week to April 12. This compared with a build of 1.7 million barrels for the previous week.”
My simple arithmetic says 4 million drop in products,
Against a 2.7 million build in crude.
So total inventory went down
Https://oilprice.com/Energy/Crude-Oil/Oil-Moves-Down-on-Crude-Inventory-Build.html
Https://splash247.com/woodside-energy-taps-argeo-for-calypso-survey-off-trinidad/
Worth a read
Particularly noted
“ Sustaining Production
Birrell doesn’t rule out exploring for more oil and gas, or acquiring companies for their reserves. That’s a change in tone for BP, which under former Chief Executive Officer Bernard Looney set out a plan to radically embrace decarbonization and renewable energy. ”
Clued
My purely personal view is there will still be some value attached to BPs stake.
I assume politicians and media,will crusade against BP ,but the amount of money there is bigger than some not very small countries have,so think BP will come out one day with something..
Unless the west put Putin into a position of retaliation if west take Russian assets in the west.
It’s a big game of poker, with unfortunately many lives at stake
Morning Mark
All fine here in Spain, a little to warm so enjoying the shade.
Was having a little think.
Last week or two several on here sold, which is a decision based for each individual on a lot of variables,entry price ,need for cash etc.
However even at a reasonable sp by recent history,there were plenty of buyers to take the other side of the trade.( obviously part of that is due to the buybacks)
There are more headlines now than for a while about investing in energy.
I would suspect the message you would get if asking for advice on diversifying your shares would currently be are you in energy.
That’s a different message from the last 3 years.
Even saw someone say energy was the new hedge against inflation or recession,as people still need oil.
Interesting times.
Ps hope you also are well
Darkesh
My take was that net debt only increased due to expenses being front end loaded in the fiscal year.
Ie mainly a build in working capital which will at least partly unwind during the year.
I think they are very sure of their cash flow as they increased the distribution of excess capital to 80% from 60%.
As far as oil price is concerned a price above $100 is bad in the long run as it encourages more replacement by renewables .
I’m sure if I got it wrong someone will tell me
Https://oilprice.com/Energy/Energy-General/Uncertainty-Drives-Investors-to-Oil-Stocks.html
Harmonica
I understand that.
And up till now that has been a benefit every time the sp,dropped again below £5.
However if someone does look at taking over BP a low sp, and less shares makes it much easier to do.
I think the landscape has changed, and it’s now time to defend £5