Member Info for meoryou

Bp welcomes the finalization of a strong federal methane rule for new, modified and - for the first time - existing sources and congratulates the Administration on this important milestone.

A well-designed rule will help drive material methane emission reductions this decade and beyond. We are pleased to have actively collaborated with the EPA and a diverse group of stakeholders to support the development of strong, durable and well-designed methane regulation.

We look forward to reviewing the final rule and engaging with the EPA on the next phases of implementation.

But only 18 percent of big firms worldwide are cutting emissions "fast enough to reach net zero by 2050", according to a report last month by consultants Accenture.

Another by the Boston Consulting Group found that just 14 percent had reduced their carbon emissions in line with their own ambitions in the past five years -- and only one in 10 measured them precisely.

More than 200 major corporations including the likes of Ikea, Coca-Cola, Sony, DHL, Heineken and Nestle have recently called on national leaders to set a timeline for phasing out unabated fossil fuels –- without the use of controversial carbon capture and storage technologies.

Many of them are also urging their energy suppliers to do the same and decarbonise their businesses.

Https://oilprice.com/Energy/Oil-Prices/Why-Did-Oil-Drop-on-an-OPEC-Output-Cut-and-Will-the-Selling-Continue.html

Invstrat

It’s just like a football team search for a new manager,

we had a lot of people interested.

We drew up a short list.

We did our interviews,and strangely enough it turned out we already had the best man here doing the job already.

I just hope whoever comes in is the right person to lead BP forward.

It’s a very important time, wherever the future leads BP

I’ve said several times the BP way was all about going through the process, so everything looks ok, then very often we saw the person doing the job being given the job.

Seen it dozens of times, we all knew who was getting the job, but everything dragged out,while it was seen to be done properly.

Maybe not quite at this level, but certainly middle management.

When you see the BBC weather map of cold places in Europe just now.

That’s a lot of millions of people who will also be defrosting their cars.

And using more energy to hear their homes

As at 30 November 2023, the issued share capital of BP p.l.c. comprised 16,937,514,377 ordinary shares (excluding treasury shares) par value US$0.25 per share, each with one vote; and 12,706,252 preference shares par value £1 per share with two votes for every £5 in nominal capital held.

The total number of voting rights in BP p.l.c. is 16,942,596,877. This information may be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BP p.l.c. under the FCA's Disclosure Guidance and Transparency Rules ("DGTRs").

Planit

I have always been of the opinion that if oil did go as low as $40, this would for many remove the incentive to buy cheap Russian oil.

As it would probably not be worth the extra risk if even a 20% discount only saved you a few dollars.

Time will tell, maybe by next summer driving season, things will be more visible,or not

Halma

Thanks for your usual optimism.

Tomorrow’s Friday,so let’s be positive.

Up 10 p every day till Christmas and we can still break £6.

2 million Bpd cut and oil price goes down!!

This market currently does not have a clue.

Small signs from US and Europe,and maybe UK that interest rates have peaked,but we are still in the demand destruction story.

Come Monday we will probably have the rise in oil price stories so the big players can make their money.

At least business as usual for BP has a few twists like today to keep us on our toes.

Up about 12 p then slowly slipping away to an up 4 p finish.

It’s never boring being a BP shareholder

WP

Personally would say if they pick Murray, they should see if Bob Dudley would come back as a mentor for him.

Even if only for a year.

Just to be his independent advice.

An oil voice in his ear he can trust with no agenda.

I think that would say a lot for BP values going forward.

Digby thanks for posting,that was all I could see.

Interesting times

BP likely to appoint new CEO during Q1 24 - sources

New CEO could be named when BP issues 2023 results

Board investigating if Looney violated code of conduct

Looney's remuneration decision expected by year end

LONDON, Nov 30(Reuters) - BP's search for a new chief executive is set to extend into the first quarter of 2024, three sources told Reuters, while the board's probe into whether previous CEO Bernard Looney breached the code of conduct in his undisclosed personal relationships with staff drags on.

The oil company has been in turmoil since Looney's resignation in September, company sources told Reuters, and the share price has underperformed rival Shell since then amid investor uncertainty over BP's future strategy

WP

They did say at their recent capital market day,that the plan was to get strategic partners into their renewables, thus lowering the CapEx BP needed to spend on renewables

I kind of see a couple of things

Firstly obviously the BP solar projects get rolled into this new company,possibly saving on head count.

Then maybe we make this new company a stand alone renewable company,and roll some other assets into it( just a maybe).

Next we attract a strategic partner to it and finally have a value for some of the renewables.

But it’s certainly the start of a new adventure.

I find the following line in the press release very interesting

“In time, bp may also look to unlock further value through bringing a strategic partner into the business.”

ADNOC perhaps??

Https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-agrees-to-take-full-ownership-of-lightsource-bp.html

Invstrat

Personally I would say the buyback below £3 were a success.

It’s difficult to say how low sp would have went without buybacks as the ESG investors piled out of oil companies.

I believe if you can buy a £4.70 share for £3 or less you would always do it, so probably should BP also.

At prices above £4 I can understand it being less compelling,but in the early days it was a good use of capital.

Just my opinion

Further to my previous post in this thread.

I think we also had a bounce due to the capital markets day.

This looks like it was well received,so longer term BP are stil getting a lot right.

Some of the sp problem,relates to the market just not being prepared to reward current strategy,righty or wrongly.

there is almost no value assigned to any of the renewable business,even the ones in US who’s real value was established by a counter bid when BP bought.

Jeffrey

See below

“ Meanwhile, expectations that the next move for US interest rates will be down meant the pound stood near to a three-month high of $1.27 today.

FTSE”

So looks like you answered your own question.

Think the Fed still has time to change its mind ,so who know where we are going