Member Info for meoryou

FY net cash flow from operating activities was £2,100m, with Free cash flow of £1,575m

● Net debt at 31 December 2023 of £8,514m, with 3.0x net debt/adjusted EBITDA

● Proposed dividend payout of 35% (FY 2022: 30%); with a final dividend of 4.2p per ordinary share

● Going forward dividend to grow at least in line with adjusted earnings

● Announcing capital allocation of £500m for share buybacks in 2024

Within 18 months of our demerger, we reduced net debt by over £2 billion, bringing net debt/adjusted

EBITDA down from c.4x to 3x, reflecting both strong cash conversion and financial discipline, underpinning

an increased dividend payout and share buyback. Taken together, our results show consistent delivery on our financial commitments.

Https://www.haleon.com/content/dam/haleon/corporate/documents/investors/results/fy-2023/Haleon%20FY%202023%20Press%20Release%2029-Feb-2024.pdf.downloadasset.pdf

Https://oilprice.com/Latest-Energy-News/World-News/Raging-Wildfire-Threatens-Texas-Oil-Rigs-Refinery.html

Might all be over in a day or two, or not.

But we are back into lots of small disruptions,which should be adding up.

Instead they are all being regarded in isolation.

Gingy

We all feel it.

The fundamentals do not add up to the current sp.

But for some reason they do at the moment.

Is it the div play

Or the renewables

Or the feeling we are reducing our total,oil output.

Or the board of directors

Or a UK stock market thing.

Or Brexit.

At some point with less debt ,less shares, more earnings( as convenience comes good).we will earn silly money.

I think some parts of the message make very good reading, so either one day the value will be there, or someone will take us over.

But how many times can we think this without seeing any proof.

Maybe that’s what we need a Name Change

We could be BPU.

U for Upwards

Or Unlimited.

Or in Gingy,s case Unmoving.

Charlie

I’m also hoping particularly the US business is becoming more profit centric.

They appear to only be expanding where they see value in US.

And this is more than one or two places.

US offshore wind set for a long pause also

Https://www.offshore-energy.biz/bp-brings-online-another-section-of-its-largest-gas-discovery-ever-made/

Https://oilprice.com/Energy/Crude-Oil/Short-Sellers-in-Trouble-As-Physical-Oil-Market-Defies-Data.html

Https://www.petrolplaza.com/news/37076

The company announced several initiatives for its retail operations at the BP Amoco Marketers Association Convention and Business Expo.

Https://finance.yahoo.com/news/bp-activist-investor-sees-signs-073545717.html

Https://www.reuters.com/business/energy/venture-global-lng-will-not-provide-confidential-documents-unless-ordered-2024-02-26/

Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-plc-announces-upsize-to-1,300-000-000-of-cash-tender-offer-of-one-series-of-usd-notes.html

Further to previous note.

It just got bigger

Https://bnnbreaking.com/world/australia/macquarie-group-to-divest-stake-in-55-billion-green-hydrogen-venture-elevating-bps-role-in-australian-renewable-energy

Particularly like the following paragraph

“ BP p.l.c. (NYSE: BP) (LSE: BP), in its latest financial maneuver, has displayed a commitment to optimizing its capital structure through the repurchase of its subordinated notes. This action aligns with the company's management strategy, which, according to InvestingPro Tips, has been focused on aggressively buying back shares. This could signal management's confidence in the company's valuation and future prospects.”

Https://uk.investing.com/news/stock-market-news/bp-subsidiary-launches-1-billion-notes-buyback-93CH-3353491

Https://en.globes.co.il/en/article-energy-majors-seizing-east-mediterranean-opportunities-1001472058

Bp CEO Murray Auchincloss has announced that the company is drilling two wells as part of its development plan for Raven field, highlighting the company’s interest in pumping more investments in its projects in Egypt.

This came during a meeting with the Minister of Petroleum and Mineral Resources Tarek El Molla which was also attended by the Executive Vice President of Gas and Low Carbon Energy at bp Anja Dotzenrath, on the sidelines of EGYPES 2024, where they showcased the company’s business in Egypt at its concession’s areas and the current situation of wells development.

El Molla explained that the petroleum sector has great partnerships with all partners, and there is cooperation with them to overcome challenges out of their belief in the good opportunity that Egypt enjoys. He pointed out that bp is one of the strategic partners with the petroleum sector and has distinguished successes in the research, development and production operations of oil and gas.

Hi Mark

How could we forget the Shrimping business 100 miles from the Gulf, with no boats.

Nothing like a disaster to bring out the worst in people.

And conversely the best in people.

I’m definitely glass half full today.

Even though my football team got beat again.

Clued

It’s one of the reasons I spend so much time looking at BP news.

When I first heard it was purely a rig in the gulf is on fire.

You always selfishly hope it’s someone else’s.

Many companies would have called it a US BP problem and put that part of the company in bankruptcy.

I’m glad BP stood up and paid, it’s a pity the process was so flawed,and just turned into fraud.

It’s a very risky business,but if everyone does their job right, everyone makes it home safely.

I think unfortunately BP had to nearly loose the company to really understand Safety.

On a side note after the disaster, BP rightly got slammed for its safety culture.

2 companies held up as being steeped in safety culture were,

1) Boeing, and look at their recent safety incidents

2) NASA, and I have just finished watching a documentary on the Columbia shuttle disaster, and damming is too gentle a word, for how they walked into it

Dalius

There are still about 8 years to go, at $1.29 billion a year ( about $12 billion still to go).

BP and Shell have been on different paths since the oil spill in 2010

For years BP was simply surviving.

While Shell bought British Gas