Member Info for meoryou

It’s only 4 weeks since it all kicked off.

It just seems longer.

BP HR were never the fastest at anything.

Even when you were desperate it still always took at least 2 months.

I imagine it might all work just a little faster at that level.

Think in an ideal world they would like some visibility on who by results day.

We watch and wait.

Yes I know it’s Barclays but some good points noted

Https://www.lse.co.uk/news/barclays-continues-to-see-material-upside-in-bp-to-1000p-a-share-5avlt6nymzvl7s6.html

Https://www.nasdaq.com/articles/bp-says-bid-to-acquire-stake-in-israels-newmed-on-track

You will hear more about BPX this week as the analysts are visiting it after yesterdays Capital Markets Day.

Some figures quoted yesterday for BPX

It generated more than $1 billion in free cash flow last year.

It has exceeded its annual cost saving synergy by 15%.

Also visiting the New Biogas company(Archaea)

There they expect returns of $2 billion EBITDA by 2030, due to scale up of a modular system, using the same process now used in oil projects of not reinventing the wheel with each new project,but rolling out a simple design that can be used again and again.( at low cost).

Https://www.reuters.com/markets/commodities/bps-portfolio-has-18-bln-bbl-meeting-minimum-return-hurdles-investment-2023-10-11/

Happy

You say current strategy not working.

In yesterdays update.

They expect more than 15% return in Bioenergy,similar in EV charging,and convenience.

More than 10% for Hydrogen.

Only renewables and power at 6-8 % is really poor.

Currently I agree they could make higher returns on oil, but oil prices are very volatile.

The graphs suggest that their break even point is one of the best.

They do still have a great pipeline of oil projects coming through.

I personally would not sell out at £6.25, but everyone has their price in their head, and I understand you believe an American company would give you a better return.

I believe that their whole strategy is not wrong, only some parts of it.

But yesterdays message really does not point to a big pivot in strategy.

I felt that they had a lot of good things to tell.

How it affects the sp time will tell.

Just my opinion as usual.

In the presentation, BP also raised its forecast for earnings before interest, taxes, depreciation, and amortization (EBITDA) from oil and gas businesses for 2030 by $2 billion to $41 to $44 billion at an average oil price of $70 a barrel.

EBITDA for the whole company, including its renewables and low-carbon businesses, is now forecast to reach $53 to $58 billion, compared with $51 to $56 billion previously.

And second page of data

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-investor-update-2023-plenary.pdf

Https://www.bp.com/en/global/corporate/investors/results-reporting-and-presentations/investor-update-2023.html

Hi Pang

We are in Cambrills, but have enjoyed torremolinos in the past.

It’s been just a bit too hot for us, but very glad not back in UK.

It’s troubling times once again, and not really a good feeling if we are profiting from it, but it is nice to hear concerns voiced on here.

Enjoy your break

Hi Spights

Not cruise this time,

Currently in Spain for week.

This week very important for BP especially today,Capital Markets Day, as Mark said.

The one before last was very positive for BP as they laid out a 5 year plan , which involved a lot of oil projects coming online.

The boards priorities should be obvious after today.

Planit

It was Mark who said it.

I have seen something from Gasbuddy suggesting they see the same.

I have been saying for a couple of weeks that the figures are distorted by preparation for units being shutdown for maintenance in October.

Gasoline should have been stockpiled for use locally when refinery not making any new gasoline.

Also saw just todays report saying US diesel very tight,which again goes against the demand destruction story.

Think early November it will become a bit clearer

BP bought a 30% stake in 2022

Https://www.freightcarbonzero.com/energy-news/green-biofuels-ltd-goes-into-administration/1667.article

Gingy

I would be saying about $78 for WTI would be the next support level ,needing to be breached, or held.

But I fully admit to knowing almost zero about that side of things.

OPEC will just continue doing what OPEC do best , pumping oil and charging the world for it.They won’t panic

The answer to your question currently is no.

Sp now marginally positive.

But no guarantee that will last

A bit more detail

https://www.businesstimes.com.sg/companies-markets/bps-us41-billion-bet-renewable-natural-gas-gets-underway

Https://www.reuters.com/sustainability/climate-energy/bp-launches-first-us-biogas-plant-since-archaea-acquisition-2023-10-04/

Mark

Back in your real world

Not only is jet fuel demand going up up up,

Luckily for oil companies the price of jet fuel is also going up up up to.

You hear plenty about it from the airlines moaning about it affecting their profits.