Member Info for meoryou

For anyone who is really surprised by the recent moves in sp, one look at the graph for this year shows it’s the 3rd time it has carried out this movement.

Currently we appear to be linked directly to oil price, and nothing else.

And anyone who thinks anyone can ramp a share on here, really doesn’t understand how marked work.

On here there are people who are positive on BP( something I aways am on any share I stay invested in) and negative on BP posters

That’s almost a million shares more than yesterday, and even more compared to the days before that.

And the only thing effecting the sp was the oil price.

We are back where we were a month ago on oil price, and sp then was about £4.90-£5.00

BP p.l.c. (the "Company") announces that on 4 October 2023 it has purchased, in accordance with the authority granted by shareholders at the 2023 Annual General Meeting of the Company, a total of 5,502,433 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 1 August 2023 (the "Programme")

Do these figures really translate to a 10% decline in a week in WTI.

We only will really know in a couple of weeks, if it’s really the start of demand destruction,but I think I need a lot more evidence to be convinced, that it’s here yet.

See how next week figures go

Https://oilprice.com/Energy/Energy-General/Oil-Prices-Tumble-As-The-EIA-Reports-A-Significant-Gasoline-Build.html

Tinker

You can now download an app

From “Kickingmyself.com”

That does exactly what it says on the tin.

It’s designed for BP shareholders like us

While we are all having a laugh at the sp.

Yesterday morning I almost posted the following.

“ with oil price drop overnight, would have expected more of a drop in sp maybe £5.20 is the new support level”.

£5 is like a magnet sp just gets dragged back again and again.

Obviously it’s oil price related but there’s little changed in the last 3 weeks except oil went up then back down.

BP trading better be cashing in on this volatility.

One day £4 really will be history,but it’s certainly not today.

Think the thing that changed everything for Looney was

“While managing director of BP North Sea, he was redeployed to the Gulf of Mexico to help stop the millions of barrels of crude oil that were spilling into the sea following the 2010 Deepwater Horizon rig explosion.”

He didn’t make any headlines then just got on with saving the company, by doing a good job.( and not letting the pressure to get it done quickly make him take risks)

That’s what probably marked him out.

His time before CEO doing just oil things was at very least okay.

His time as CEO everyone has their own opinion on.

The builds in products ( gasoline and distillates) would be considered normal, as refinery start maintenance season this month.

Refineries usually run flat out just before unit shutdowns to make spare products to supply local markets during unit shutdown for maintenance .

But for next few weeks less crude will be processed.

Https://csnews.com/bp-mission-be-customer-obsessed

Https://www.reuters.com/markets/deals/bp-explores-1-billion-us-pipelines-stake-sale-sources-2023-10-03/

Quote from Bob Dudley today

“Dudley — who now chairs the Oil and Gas Climate Initiative, an organization backed by BP, Saudi Aramco, Exxon Mobil and other Big Oil firms — echoed Auchincloss’ view. He said BP’s strategy would likely remain “business as usual.”

It was a very aggressive strategy, and I think the world changed when Russia invaded Ukraine. The need for security of supply changed everybody’s views on this,” Dudley said, when asked whether Looney is on the right track, particularly regarding decarbonization.

“Before, it was clean, affordable energy, which meant reducing carbon however you could. After the invasion, look at Europe’s energy flows, no pipelines of gas essentially and shortages around the world,” he added. “You can’t run a big energy company and ignore the facts of the world, so he backed off to a degree on that and to me that made a lot of sense.”

API crude inventories data this afternoon Is backward looking, so should be the last one for a few weeks not influenced by the refinery maintenance due this month.

October is going to be an interesting month

Https://www.reuters.com/world/middle-east/panel-reviewing-bp-adnoc-offer-israels-newmed-seeks-higher-price-sources-2023-10-02/

It wouldn’t be BP without a drama or 2.

At least it’s not really a BP story,it’s more the oil price and DOW.

Oil price is still currently higher than a month ago .

But still time for a bit more down.

OPEC will sort it

Https://oilprice.com/Latest-Energy-News/World-News/US-To-Lose-25M-BPD-In-Refining-Capacity-This-Maintenance-Season.html

Charlie

Just being nosey,

But do you trade the same capital, or are you slowly increasing your holding in BP?

WP

Within the 90s in our Refinery environment,the gates finally opened up to all.

Previously to that there had been several female chemical engineers, but they were seen as unusual.( other than that there were no female operational staff)

Suddenly over only a couple of years there was no role they were not involved in ,except Senior Management.

I would hope by now that some very capable people ( who happened to be female) have made a name for themselves.

BigCharley

Think for BP at this time it’s really a bet on the management.

1) was their strategy right, Or

2) will there be a change in strategy with new CEO, Or

3) will dividends be increased back to pre covid value( we are slowly getting there).

4) or will it ever close value gap to its peers.

The right small oil company probably has more potential, but BP will continue to generate large amounts of cash.

Charlie

Looneys gift to BP

People with funny names can still get the top jobs