Member Info for meoryou

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.

Markus99

If you believe the headlines yesterday.

“ WTI Gains 2.5% On Driving Season Fuel Demand Optimism”

https://oilprice.com/Latest-Energy-News/World-News/WTI-Gains-25-On-Driving-Season-Fuel-Demand-Optimism.html

“ Global Jet Fuel Demand Soars, Boosting Oil Prices”

https://oilprice.com/Latest-Energy-News/World-News/Global-Jet-Fuel-Demand-Soars-Boosting-Oil-Prices.html

“ Growth in U.S. Oil and Gas Output Slows Down”

https://oilprice.com/Energy/Crude-Oil/Growth-in-US-Oil-and-Gas-Output-Slows-Down.html

Then oil is going up and hopefully also BP.

Not all believe, as some certain oil demand will fall heavily due to recession.

The two camps are still fighting for who will win.

I’m betting on oil and OPEC, but right now it’s just an opinion.

Time will tell

And what happens after the Christmas Party, or did that only happen up with us.

Https://uk.finance.yahoo.com/news/exclusive-bp-tightens-workplace-relationships-075320844.html

Clued

Agreed,

Between that and the Rosneft stake, BP has been a bit like fighting with one hand behind its back.

Jezzoo

Even kids at Primary School understand if you fine the oil companies,the only person who pays is the customer .

Https://oilprice.com/Energy/Energy-General/UN-and-US-Officials-Ramp-Up-Attacks-on-Oil-Industry.html

Mark

I think many forget when they compare BP to Shell, etc, that BP have an additional charge every year of $1.25 billion.

This means every year they have to work a lot harder just to keep up.

Also they have that much less every year to invest, so and it does add up.

Think after 2031 it drops quickly to nothing.

That will be a big extra amount of cash to return to shareholders

Gnator

My understanding is that both the old shares and the new shares will be identical.

Dealing in the new fully paid shares begins 08:00 12 June

Spar hawk

It’s not easy to argue against what you have posted.

I am hoping since Murray, and Kate have a financial background,that they know something about the rest of the year that encouraged them to do both the 80% distribution and increase of debt.

But when you have to start hoping your investment knows what it’s doing,it is a worrying sign

See attached graph over 6 months.

I think I can see a definite trend,downwards

https://ycharts.com/indicators/us_rotary_rigs

That’s a 15% drop in total,number of rigs in a year.

A 13% drop in number of oil rigs.

Have we really got 15% better at doing this.

As Mark has said break even costs are no longer dropping,something has to give,or there is something not understood

Https://oilprice.com/Energy/Energy-General/US-Oil-Gas-Activity-Declines.html

Https://www.insider.co.uk/news/75-scots-back-north-sea-32979624

Three quarters of Scots support domestic oil and gas production from the North Sea, according to new polling by advisory firm True North.

Less than a month out from the general election, the data shows 75% would rather see the UK meet its energy demands from domestic sources than import from overseas.

True North's new senior energy advisor Allister Thomas said: “As North Sea production reaches record lows, with projects stuck in the investment doldrums, this is a clear signal to politicians to get the sector back on track.

“The alternative is more imports, which government data tells us is already seeing record high levels of LNG from the US, nearly four-times more carbon intensive than domestic supply.

“That’s bad for the planet and bad for business – the UK will realise little of the economic benefit if we are buying in more energy from overseas.

“As they aspire to become the next UK government, Labour will be buoyed that 51% Scots think GB Energy can reduce their household bills.

“However, there are significant risks - and stark warnings from experts across the energy sector - that more punitive taxes on energy will drive investment out of the market, rather than helping to bridge the renewable jobs gap.

Https://oilprice.com/Energy/Energy-General/OPECs-Cautious-and-Calculated-Strategy.html

No advice

But a few thoughts.

The sp was very strong going through ex div,both the couple of days before and how it handled the div coming off.

I suspect there are few more like me who bought some extra NG due to the weakness who will sell these when they make enough profit.

Also some who have now more shares than they would like to keep due to taking up the rights issue.

So 2 possible reasons for people selling.

But personally I’m still positive and hoping the sp will still rise more.

How high ?

Possibly at least another 50 p.

But that’s all guesswork, and opinion.

Good luck whatever decision you take

Sterling cash dividend per ordinary share announcement date, 11 June 2024.

Due to be paid. 28 th June

Spend it well

Jeffrey

We are only connected to oil price if oil falling.

When oil rises

We are that oil company with least exposure to oil price.

In reality with our convenience offer tipped to be such a money spinner, EV charging now credited with earning in China, and Germany,we perhaps should be the best oil company for lower oil prices.

But just like many here the market does not believe.

If the strategy is correct, it’s being poorly understood,so it may be time for a change.

Https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Set-for-Third-Weekly-Loss-in-a-Row.html