Member Info for meoryou

Spights

I feel I recognise the style, but can’t quite place it.

But all in a nice addition to the board.

J.S.B

There are several ways we “could” get to £6.

The time scale is the difficult part.

1) div increases by 10% per year 3 years from now you are back at pre div cut levels,which is either a very big yield of sp £7.

2) the long awaited take over.

I don’t see it being a US oiler, but Shell must see value to be extracted from BP.

3) simple buybacks meaning less shares to spread profits around

4)the renewables slowly become cash positive.

5) consumables makes the kind of cash they keep talking about.

My first choice is the div returning to pre covid levels ( mainly financed by buybacks)

Second choice Shell buyout.

But BP does not look like being rewarded by the market at the moment

Https://oilprice.com/Energy/Crude-Oil/Seasonal-Demand-and-Production-Cuts-Drive-Oil-Rally.html

Crude draw

Oil price up

And BP actually rises.

Make a note in your diary it actually does happen, not just a myth from us older gents

Ex div 8 th August

20 th Sept payment date

See

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-financial-calendar-2024.pdf

Crude oil inventories in the United States fell sharply this week by 4.44 million barrels for the week ending July 12, according to The American Petroleum Institute (API).

For the week prior, the API reported a 1.9 million barrel draw in crude inventories.

This week marks the third week in a row of API-estimated inventory draws for crude oil, for a total loss of 15.5 million barrels.

Appears to have been one small delay after another, so will only get excited when it actually happens.

Agreed Mark last time sp was here Brent was $78.56

Now Brent is $83.50 the difference between the 2 prices should be pure profit.

Almost feels like we are set up for someone to do a take over,the value spread keeps increasing.

Https://www.chemengonline.com/bp-granted-funding-for-green-hydrogen-project-at-lingen-refinery/?printmode=1

All you have to do is start with £2,000,000

Ps don’t try this at home

It’s easy

Oil major BP and its local government partners have taken final investment decision (FID) on a 300-tonnes-per-year green hydrogen project in Scotland, the pair announced today (Monday).

BP Hydrogen Energy Ltd — a joint venture between BP and the local city government, Aberdeen City Council — aim to begin construction of so-called Aberdeen Hydrogen Hub in north-east Scotland later in 2024, with first production slated for 2026.

Rest behind paywall

Https://www.hydrogeninsight.com/production/bp-joint-venture-takes-final-investment-decision-on-scottish-green-hydrogen-project/2-1-1677579?zephr_sso_ott=XZYEuA

We have to hope that

1) the market drop in sp recently means that whatever the results are in a couple of weeks it’s already priced in, so the only way is up.

2) things are so bad that Murray feels the need to give some positive news,perhaps on div .

3) someone comes bargain hunting and buy up BP.

4) something positive actually happens to BP and sp.

I’m still positive but it’s getting a lot harder

Https://oilprice.com/Energy/Crude-Oil/Oil-and-Gas-Are-Here-To-Stay.html

I have been taking cash out of Av, as it was in my ISA and a 20-25% gain( did not want to see this just drift away, so took out about half).

Not really excited about my Lgen gains( only couple %), but nice to have.

I just feel more comfortable with Av, at present, and nothing to do with business models just performance, so would likely stick with them, but it’s just an opinion not in any way advise

Option 1, or option 2

I’m hoping option 2 as also have taken a gain as precaution.

Option 1 as they are desperate for cash, and will see us as gaming the election result, so fair game, but hope I am wrong.

Just noted WP posted this a couple of days ago,they must have just refreshed it and sent it back out today again

BP is the most indebted compared to its size and cash generation among the Big Oil companies — a group that includes Exxon Mobil Corp., Chevron Corp., Shell Plc and TotalEnergies SE. On a cash generation-to-debt basis, BP stood at nearly 40% at the end of 2023, well below its international peers, each reporting more than 75% on the same date, according to data compiled by S&P Global Ratings. The credit rating firm recently cut its view on BP to “stable” from “positive.”

Until now, the indebtedness hasn’t mattered as much because Russia’s invasion of Ukraine in 2022 triggered a super spike in oil and natural gas prices, as well as boosted refining margins. On top, the price volatility of 2021-2023 created rewarding trading opportunities — a corner of the market BP and Shell dominate.

But now that cycle is ending. Oil is struggling to sustain the $80-a-barrel level as the OPEC+ cartel starts to increase production from later this year; natural gas prices are much lower than they were during the European energy crisis, and refining margins and trading profitability are down

Murray Auchincloss had a clear message to his shareholders days after becoming chief executive officer of BP Plc: “I'm focused on growing the value of BP.” Nearly six months since his promotion, however, the promised improvement is nowhere to be seen.

BP’s market value this week fell to a two-year low of roughly £75 billion ($96 billion). Worse, the company is worth today about the same as it was 25 years ago, when oil changed hands at $10 a barrel, rather than today's price of more than $80 a barrel. BP is a shadow of the mighty oil behemoth it once was.

It would be unfair to blame Auchincloss — who celebrates six months on the job next Wednesday — for all the problems. Some predate him, particularly the cost of cleaning up 2010’s US Gulf of Mexico spill. Yet the Canadian executive isn’t new to BP’s upper echelon. He was chief financial officer from mid-2020 until his promotion in January, and as such, key to the green strategy that the company adopted four years ago.

What’s not unfair is to highlight that Auchincloss’ business-as-usual attitude, his insistence that “our destination is unchanged,” is unnerving many investors. BP’s shares have underperformed all its rivals, in some cases by a large margin. Profit is weak, and the debt load remains high. By now, there should be an all-hands-on-deck emergency at BP’s St James’s Square headquarters. If there is, shareholders haven't heard about it.

It would be unfair to blame Auchincloss — who celebrates six months on the job next Wednesday — for all the problems. Some predate him, particularly the cost of cleaning up 2010’s US Gulf of Mexico spill. Yet the Canadian executive isn’t new to BP’s upper echelon. He was chief financial officer from mid-2020 until his promotion in January, and as such, key to the green strategy that the company adopted four years ago.

What’s not unfair is to highlight that Auchincloss’ business-as-usual attitude, his insistence that “our destination is unchanged,” is unnerving many investors. BP’s shares have underperformed all its rivals, in some cases by a large margin. Profit is weak, and the debt load remains high. By now, there should be an all-hands-on-deck emergency at BP’s St James’s Square headquarters. If there is, shareholders haven't heard about it.

Another worrying perception among investors and industry observers is that Auchincloss is an accidental CEO — he stepped into the job after BP’s board fired his predecessor, Bernard Looney, for “serious misconduct”— rather than one who sees his role as reshaping the company for the longer term. Perhaps that perception is erroneous. Certainly, Auchincloss isn’t a brash executive à la some American oil tycoons, but that doesn’t mean he isn’t 100% in charge. Thus it's urgent he shows he has the chops to redo BP. Insisting that the destination is unchanged, barring some tweaks, won’t help — because I believe the British oil major is