Member Info for meoryou

UK supermajor BP has resumed exploration activities offshore Brazil with the drilling of the first wildcat in the prolific pre-salt province in more than 10 years.

According to data from Brazilian market regulator ANP, BP started on 13 June drilling of the Pau Brasil exploration well in the production sharing contract of the same name in the Santos basin

At some point there will be a major environmental catastrophe involving the shadow fleet.

Every year old ships are getting even older.

Ship to ship transfers only add to the risk.

Unfortunately it will probably happen in the worst place possible.

I calculated my break even is £9.18.

I bought some more separately which dropped my break even to £8.95

( after div in both cases).

I’m sure we will get there, but no idea when.

But at least it’s back to being a boring share you can forget about

NEW YORK, June 13 (Reuters) -BP's BP.L 435,000-barrel-per-day (bpd) Whiting, Indiana, refinery plans to conduct a major turnaround in the coming months, an industry source said on Thursday.

The company had no official comment.

They are now just normal shares with all the same rights, but did not qualify for last dividend

Https://www.reuters.com/business/energy/bps-head-oil-trading-boss-walker-leaves-company-take-up-new-job-2024-06-12/

Https://www.bp.com/en_us/united-states/home/news/press-releases/archaea-energy-and-republic-services-celebrate-first-rng-plant-in-landmark-partnership.html

Https://oilprice.com/Latest-Energy-News/World-News/OPEC-Slams-IEA-for-Dangerous-Forecast-of-Peak-Oil-Demand-by-2030.html

Clued

Very few within the organisation will know how the numbers are generated.

They will all be very aware of what happens within their area

Most measurement systems have a bias ( +/-1% would be excellent).

Example you put a gallon of Petrol in your car.

In cold weather there is more energy stored in that gallon( in cold thing contract).

It will be corrected for by the pump but that’s a correction now added to the measurement.

Same applies with all oil measurements.

Would you believe an independent government agency,or someone with vested interests in keeping oil high, ad talking up demand ( that’s OPEC by the way).

Oh that’s a hard choice.mmmmm

I think I go with OPEC,their track record is so much better.

But just like the boy who cried wolf if keep saying it,

One day they will be right.

But perhaps by then no one will believe them

Dicklaw

You will be missed,and from a personal view hope you have got it wrong,but very willing to admit you may be totally correct.

Good luck with your investment and best wishes

Following the announcement on 12 June 2024 regarding valid acceptances under the fully underwritten 7 for 24 Rights Issue announced by National Grid plc ("National Grid" or the "Company") on 23 May 2024, the Company confirms Barclays Bank PLC ("Barclays") and J.P. Morgan Securities plc (which conducts its UK investment banking activities under the marketing name J.P. Morgan Cazenove) ("J.P. Morgan") (together, the "Banks" or the "Underwriters"), have successfully procured subscribers for all of the 97,727,572 New Ordinary Shares for which valid acceptances were not received, representing approximately 9% of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue, and for all of the 292,026 Ordinary Shares resulting from the aggregation of fractional entitlements of Ordinary Shares, at a price of 835 pence per New Ordinary Share (the "Placing Price").

The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Rights Issue Price of 645 pence per New Ordinary Share and the expenses of procuring subscribers, including any applicable brokerage commissions and VAT which are not recoverable) will be paid (without interest) to those Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 will not be paid to such persons but will be aggregated and will accrue for the benefit of the Company

Https://oilprice.com/Energy/Crude-Oil/Is-OPEC-Too-Bullish-On-Chinas-Oil-Demand.html

A negative headline for oil.

But if we are having trouble with US numbers, how believable are the Chinese numbers.

Especially when they are taking so much crude from Russia.

It’s not even 1 secret tanker load per day.

The bulls use China as evidence for their case.

So do the bears.

Maybe it’s India which will be the next driver in crude prices?

National Grid plc ("National Grid" or the "Company") today announces that the 7 for 24 Rights Issue of 1,085,448,980 New Ordinary Shares at 645 pence per New Ordinary Share announced on 23 May 2024 (the "Rights Issue") closed for acceptances at 11:00 am on 10 June 2024. The Company received valid acceptances in respect of 987,429,382 New Ordinary Shares, representing approximately 91% of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue.

It is expected that the New Ordinary Shares will commence trading, fully paid, on the London Stock Exchange plc's main market for listed securities as soon as possible after 8:00 a.m. on 12 June 2024.

It is expected that the New Ordinary Shares held in uncertificated form will be credited to CREST accounts as soon as practical after 8:00 a.m. on 12 June 2024 and that share certificates in respect of New Ordinary Shares held in certificated form will be despatched by no later than 24 June 2024.

See RNS

Https://forecourttrader.co.uk/latest-news/bp-pulse-electrifies-birmingham-music-venue-in-sponsorship-deal/692273.article

One day last week my predictions were spot on for 3 shares for 1/2 a day.

You start to think I know what’s what.

Then the market laughs at you.

Still 1/2 a day per year ,maybe I’m getting better at this.

Https://oilprice.com/Latest-Energy-News/World-News/Inventories-of-US-Crude-Oil-Products-Slip.html

Crude oil inventories in the United States fell this week by 2.428 million barrels for the week ending June 7, according to The American Petroleum Institute (API), after analysts had forecast a 1.75 million barrel draw.

Gasoline inventories also fell this week, by 2.549 million barrels, partially ofsetting last week’s 4.026-million-barrel increase

Https://oilprice.com/Latest-Energy-News/World-News/Jet-Fuel-Shortage-Hits-Japan-Amid-Tourism-Boom.html

Jakers

I don’t remember a time when the two different camps were so far apart.

Usually is good or great , or bad or terrible.

This time it’s either great or terrible,with little in between.

BP has done little for some time to inspire confidence,so your opinion may be just as likely to come to pass.

This weeks headlines next weeks chip wrapping

Sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the three dealing days between 5 June and 7 June 2024 (£1 = US$1.27937). Accordingly, the amount of sterling dividend payable in cash on 28 June 2024 will be:

5.6825 pence per share.