Member Info for meoryou

Https://www.proactiveinvestors.co.uk/companies/news/1043186/bp-s-bioenergy-and-ev-charging-wings-to-help-meet-targets-ubs-1043186.html

Particularly like

“ Commodity analysts at Standard Chartered have conducted a survey on 44 oil and gas companies and found that hedging activity remains low, a sign that producers believe prices are headed higher.”

Https://oilprice.com/Energy/Crude-Oil/Bullish-Oil-Gas-Producers-Remain-Under-hedged.html

Https://deal.town/bp/bp-sustainability-report-2023-FKJST2AXN4

So far Putin has resisted the urge to do anything with BPs share of Rosneft.

By all accounts the relationship between Rosneft and BP at board level was still ok, with them accepting it was political and not a business decision.

Putin can change his mind however if Western governments start to touch frozen Russian assets

Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-pulse-acquires-one-of-europes-largest-truck-stops-unveiling-ambitious-plans-to-help-heavy-goods-vehicles-electrify.html

Morning Spights

It’s been very quiet here recently,almost like we are talking to ourself.

I realise it’s hard to be excited about BP right now.

But it’s always good to hear your positivity.

I and certain one day your positivity will be rewarded.

It’s just a case of how long we have to wait.

Gingy when we finally get revalued if you believe the 50% undervalue reports,even £6.40 seems easy( but in reality £5 first would be nice).

Although the very firm current oil price with apparently very good fundamentals does not appear to be translating into a real rise in sp.

Earnings should continue to be very firm.

We are near the end of another good quarter,will oil mainly above $80.

That is laying good foundations for the next time we finally see the “mythical “ £5.

Onwards and Upwards

Https://stocknews.com/news/bp-eqnr-am-accelerate-your-returns-with-3-lucrative-gas-stocks/

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 6 March and 8 March 2024 (£1 = US$1.27718). Accordingly, the amount of sterling dividend payable in cash on 28 March 2024 will be:

5.6922 pence per share.

Https://www.bp.com/en_gb/united-kingdom/home/where-we-operate/reimagining-teesside/our-projects.html

It’s a slow news day for BP so

I have been following this story for a few weeks.

May be of interest to some on here

Https://oilprice.com/Energy/Energy-General/This-Could-Be-A-Gamechanger-For-Natural-Gas-In-Europe.html

Https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/news-and-insights/press-releases/bp-plc-announces-early-tender-results-of-cash-tender-offer-for-up-to-1-3-billion-aggregate-principal-amount-of-one-series-of-usd-notes.pdf

HOUSTON: Energy company BP has appointed ARKO executive Ross Parman as head of U.S. media affairs and external communications.

Parman’s appointment comes as BP faces pressure from an activist investor, London-based hedge fund Bluebell Capital Partners, to ditch pledges to cut oil and gas output. BP has promised to cut oil and gas production by one-quarter by 2030.

Parman, who is reporting to J.P. Fielder, VP and head of U.S. communications, replaces Megan Baldino, who is serving as BP's head of corporate communications, according to her LinkedIn profile.

Parman said in an emailed statement that BP is “assembling an elite public affairs team,” and that he’s excited to be a part of an organization that’s “rapidly transforming and investing more than half of its capital in the U.S.”

U.S.”

“I am particularly excited by the mission of operating as a simpler, more focused, higher-value company that is transitioning from an international oil company to an integrated energy company,” Parman said. He could not be immediately reached for additional details on his new role or who he replaced.

Before BP, Parman served as VP of investor relations and government affairs at fuel-station operator ARKO, according to a BP statement. In April, ARKO attempted to outbid BP for fuel-station company TravelCenters of America. BP ultimately closed the $1.3 billion acquisition in May.

Earlier in his career, Parman was director of communications for Altria, the parent company of Philip Morris U.S.A. and the nation’s largest tobacco company. There, he was responsible for communications initiatives across the enterprise, including regulatory and government affairs.

I do feel the mood music has shifted since the Looney days,and there seems to be more upbeat news items.

Will that reflect in sp

Only time will tell

What BP brings to the table is more significant than ever for European energy security. In mid-February, BP (as the key player in the Shah Deniz consortium) flipped the switch on its Shah Deniz 2 gas development in the Caspian Sea with first production.

This massive project, offshore Azerbaijan, currently has a production capacity of around 79 million standard cubic meters of gas per day (29 billion per year).

Late last year, Azerbaijan said it was on target to double gas exports to Europe by 2027, having exported over 8 billion cubic meters of gas to Europe in 2021, and with 12 billion cubic meters targeted for 2023.

Last summer, BP signed a long-term LNG supply deal with Austria’s OMV (VI:OMV) in bid said to help improve European energy security in the aftermath of Russia’s 2022 invasion of Ukraine.

BP is banking on being a key player in the European energy security game, now, and the only thing dampening this outlook right now is the Biden Administration’s move in January to pause new LNG projects in the U.S.

This stock has been beaten down, but there may be new headwinds.

Earlier this year, BP said it was refocusing on its oil and gas business, particularly its U.S. operations, where it is one of the two largest producers in the Gulf of Mexico, and carries its own weight in the Permian basin and other American shale patches. In fact, by 2030, BP is targeting an increase of oil and gas production by more than 50%, with about half of that production to come from the U.S.

BP share price still does not reflect this, which indicates a potential buy-on-the-dip (in this case, a long-running dip).

Couple of thoughts

1) at that salary ,you can see why even if he didn’t really want the job,why he would decide to take it.

2) I have said before there should be some direct relationship between a company average pay and the top people’s pay

Not sure what that relationship should be , but they have become very disconnected

3)personally don’t think a bonus should ever be more than your basic and definitely not several times your basic.

4) hope he earns it by finally getting the sp moving.

Https://www.theguardian.com/business/2024/mar/08/bp-sacked-boss-bernard-looney-bonuses-executive-pay-murray-auchincloss

Https://www.offshore-mag.com/drilling-completion/article/14310069/bp-assessing-options-for-third-clair-field-project-west-of-shetland