Member Info for meoryou

It’s not directly linked to BP but that’s 2 major refineries shutdown.( including BP)

That will have a knock on effect of less crude used over next couple of weeks, and less gasoline etc being produced.

Should definitely tighten gasoline market, and probably help refining margins, although little gain for BP as one of the refineries down is ours.

Https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-Shuts-Down-Recently-Restarted-Texas-Refinery.html

Https://www.hellenicshippingnews.com/emea-majors-to-still-depend-on-oil-and-gas-in-2035-despite-low-carbon-growth/

Https://oilprice.com/Latest-Energy-News/World-News/BPs-Indiana-Refinery-to-Remain-Shut-for-Three-Weeks.html

Good summary Charlie.

The convenience model, is poised to start to deliver bigger and bigger returns.

This means an ever larger part of earnings is not directly related to oil price.

There is a step change happening this year in onshore US when the next system comes on line, after which all spending onshore US directly links to output.

The number of renewable gas projects is going to increase very fast over next 12-18 months.

They are also seriously looking at more oil and gas production,increasing the headline figures, if they can do it within their budget.

Is all that valued in the share price?

BP p.l.c. (the "Company") announces that on 7 February 2024 it has purchased, in accordance with the authority granted by shareholders at the 2023 Annual General Meeting of the Company, a total of 4,725,089 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 6 February 2024

Gingy

There will be people who bought in at around £4.40 who took a 40 p profit in less than a month.

They will expect to repeat this again, and again.

And they may be right until one time they miss out on a change of sentiment, and a major re-rating.

There are so many potential triggers, especially the Middle East.

The market rarely makes sense except looking back.

I would say that Murray really believes that there are very good times in the not to distant future.He is very upbeat.

They have taken a couple of gambles going forward, with their expectations.

I’m inclined to believe the market is getting BP very wrong, but I don’t expect that to change this year.( although would still hope we get past £5).

I have however been to optimistic in the past 18 months.

Gasoline stocks shed 3.1 million barrels in the week to February 2, which compared with a build of 1.2 million barrels for the previous week.

Gasoline production averaged 9 million barrels per day last week, which compared with 9.3 million barrels daily a week earlier

This makes sense as gasoline units are shutdown to prepare them for working flat out during driving season.( also gasoline was stockpiled in last couple of weeks ready for these shutdowns)

Also makes sense with a little less crude used.

Https://oilprice.com/Energy/Crude-Oil/Oil-Jumps-Despite-Inventory-Build.html

All the oilers in US are down similar to BP.

It’s not oil related, as oil still up.

Maybe just profit taking after yesterday

Https://renews.biz/91101/lightsource-bp-energises-uk-battery/

Yesterday’s rise which was very welcome appears to have been without the aid of buybacks.

There has been no RNS and if it doesn’t arrive after close, it usually is posted at 7 am.

The message Murray gave was simple.

We will carry on doing what we are doing until

Debt level is lower

Share count is lower

And div is a bit higher.

The main strategy stays.

But we will watch costs( we are after all ex finance ).

There is little room now for debate on the immediate future direction of BP.

It remains to be seen how the market values this

Stunning start

Results look good

How will US see them this afternoon

Hope tomorrow’s results have something in them to please everyone.

It’s a tough ask, but not impossible.

Oil is still in the $70_$80 dollar range so all we need is a positive market moving announcement.

I expect a busy board tomorrow.

Good luck all

Https://www.rigzone.com/news/equinor_bp_seal_rights_for_oil_discovery_offshore_canada-05-feb-2024-175624-article/

Https://www.ig.com/uk/news-and-trade-ideas/_bp-earnings-to-slow-due-to-weaker-refining-margins-240205

Https://uk.finance.yahoo.com/news/auchincloss-place-bp-green-print-060000815.html

WP

The maths are crazy.

I said something similar a couple of weeks ago,from your figures everything not onshore US is valued around what Shell paid for British Gas.

I would like to think there is much more value locked up in BP than there was in B Gas, and current oil price is a lot higher than 2016 when Shell bought B Gas.

It does however show we are small enough for them to digest.

The most common theme now appears to be a hostile bid and Shell rush to the rescue.

Oops

Searched Google on last 24 hrs.

Should really have noticed as I even included the date in my coy and paste.

Will try to do better in future.

It’s actually good news that it’s old news