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Https://www.cityam.com/mark-kleinmans-city-column-why-bae-chief-woodburn-could-be-a-slick-choice-for-bp-and-more/

All income streams not directly linked to the price of oil should be welcomed.

Especially as many think oil price will drop more.

Some of their projections make interesting reading

Golar LNG’s giant floating liquefied natural gas vessel Gimi has arrived on location at UK supermajor BP’s keenly watched Greater Tortue Ahmeyim (GTA) project on the maritime border between Mauritania and Senegal where it will exploit the gas field’s first development phase.

NASDAQ-listed Golar LNG on Wednesday confirmed Gimi's arrival at GTA, adding it had notified operator BP of the facility's arrival

Jeffrey

Must confess I. thought the buybacks restarting would have been a big positive for sp especially with a 20% increase in volume.

I now left with only hoping it’s all a strategy of poor news to get the buybacks lower, then brilliant new CEO and we power back to our highs.

But I do feel I’m grasping at straws.

All my shares are down today, so it’s not just a BP thing

It’s a cyclical business,so at some point you will get your exit price, if only we knew when.

UK consulting and engineering firm Wood has been awarded a contract to deliver topside modifications supporting BP’s latest subsea tieback in the UK North Sea.

Wood will deliver engineering, procurement, construction, and commissioning services to enhance the central processing facility of BP’s Eastern Trough Area Project (ETAP) production hub in the central North Sea. Financial aspects of the deal were not disclosed but the company did describe it as a ‘major’ contract.

Repurposing of existing equipment on ETAP will be a key focus under the two-year contract to enable the platform’s connection to Murlach, BP’s two production well subsea tieback development.

The cost-reimbursable contract follows Wood’s delivery of pre-FEED and FEED work on the Murlach field, and the recent successful completion of brownfield scopes on BP’s Seagull field, another subsea tieback to ETAP that began production in 2023.

Produced fluids from Murlach will be processed at the ETAP central processing facility before onward export via the Forties Pipeline System and Central Area Transmission System. Subsea facility installation and first drilling operations are due to begin in 2024. First oil is expected in 2025. Field life is estimated to be 11 years.

The Murlach project will be delivered by Wood’s teams in Aberdeen, where over 300 employees support BP contracts.

It does depend.

Sometimes when the top person wants to move, they don’t want them sticking around knowingly about what’s going forward,so they would rather just move on and let them go.

It also depends if they have a better Succession plan than BP had.

BP will do it right if he is their man.

Hopefully we didn’t wait all this time to get it wrong

Jezzoo

I can still see it if I just copy the heading into google and pick it up that way.

I could see it till I tried using link,but the Ft is a bit like that, it teases you then stops you seeing it

Https://www.ft.com/content/e3f35f22-2464-412a-8112-56676f7241c9

It’s a bit of fun if you are bored. ( interactive graph of the FTSE individual share market cap over time)

But there are a few interesting conclusions ( especially in the comments at the bottom)

Sorry very old news July 2018

Searched Google last 24 hrs and it came up, did not check date till after posted

Https://www.lse.co.uk/news/top-news-bp-confirms-asset-exchange-deal-with-conocophillips-qsdf3zclayfz2b2.html

John was driving down the highway when he ran out of petrol.

He sat there in the driver’s seat wondering what to do next, when a bee flew through his window.

“What seems to be your problem?” the bee asked.

“I’ve run out of petrol,” John replied.

That’s unfortunate,” the bee said. “However, if you wait here I can help you.”

The bee then flew off, only to return minutes later with an entire swarm of bees. They all flew into his petrol tank, leaving John wondering exactly what was going on.

After a few minutes the swam flew off and the bee said to John: “Try it now”.

John turned his ignition key and the car fired into action immediately.

“Wow,” John exclaimed. “What did you put in the petrol tank?”

The bee smiled and said: “BP of course.”( Bee Pee)

Just been on a long car journey, which gave me time to have a think about all this.

If this was the choice for new CEO, , and his track record looks interesting as he has doubled the share price of BAE in the last 3 years.( if only he could do that for us).He had the oil background.

So then who do we want as Chief Financial Officer.

Is it Murray or Kate.

Would Murray stay if passed over as CEO?

Murray I think is good at his brief, and does know the business inside out.

Think it’s time for change at Chairman.

I’m wondering about Murray as Chairman.

I think an oil man to lead ,and Murray to keep him honest might be a possibility.

Murray I think has some original thinking and I think is worth keeping.

Just my thoughts and I know some just want a total change.

Invstrat

He has Energy Industry background

“ One said that Dr Woodburn was "an obvious candidate" for the job, given BAE's success during his six-and-a-half year tenure and his lengthy earlier career at the oilfield services companies Schlumberger and Expro Group.”

Https://news.sky.com/story/bp-investors-want-oil-behemoth-to-target-bae-chief-as-ceo-13043017

Https://www.offshore-energy.biz/bp-tucks-oil-production-milestone-under-its-belt-at-caspian-sea-platform/

Dalius

I think the new CEO when they arrive will want to show it’s their strategy not Bernard’s , so there will be some change ,even if it’s Murray.

I also think they will be less afraid to increase div,as the politics have moved on, and new CEO may not even be British.

I don’t think we are quite as damaged by interim CEO as market likes to pretend as we hit sp of £5.58 after we got rid of Bernard.

But it’s time it all moved on

Hi Jakers nice to see you still popping in.

August 2022 in. Reply to a question

Murray said “ we make sure the dividend can be funded in a $40 oil world”

So I am assuming that means break even is down near there.

In October 2020 they spoke about break even at $42 oil.

But it does matter exactly what they mean by break even, and how they have nudged CapEx.

Two very good posts

Thanks

Gingy

Either 2024 will be a good year for oil, in which case , the gap may grow ,which has to lead to a bid eventually, as there is so much value trapped in BP.

Or we get our house in order,and raise the div a bit .

I would be a lot more worried if we were not making lots of money.

There have been many times div was not covered by earnings ,this is not one of them.

Am I happy with sp currently, no I am not.

With recent levels of earnings historically we would be at least £1 higher.

But we have been £1 higher several times this year, so it’s not impossible, it just has to stay there next time.