Member Info for meoryou

Hi Mark

The bulk of my shares have been held for at least 30 years with it almost impossible to know what their purchase price was, as some were free in the BP matching scheme, and many have been involved in the share splits around 1990.

I had to sell a lot after the oil spill as lost a huge amount of div income.

Have taken advantage all the way up since the covid falls.

And now anytime they drop below £5 I feel the need to buy start to kick in.

Historically at these earnings they are a bargain.

The future is very interesting

Mark

You make me feel so positive I almost want to buy some more BP shares.

However

There lies madness,there are too many already.

Will just enjoy the rise in sp on the ones I still have.

Maybe get to sell some more at £6 yet.

The story since the turn of the century, as UK production peaked, is of 70% decline in production but only 28% decline in demand. The UK has gone from net exporter to net importer, in a big way.

OEUK seeks to explain that offshore fields are draining fast, and replacing that production will require further field extensions or new fields to open up. Twenty fields are due to retire this year, with only two opening.

Of 283 fields in production this year, more than 180 are expected to stop producing this decade. These ageing fields produced 45% of UK oil and gas output last year.

The report warns: "The impacts of these trends are already being seen in production. Output in the first five months of this year was down by a tenth from the same period last year (6% decline in gas production and 12% for oil) and down by a fifth from 2018.

This is double the rate of decline in oil and gas consumption, leaving the country relying on net imports for around one-third for oil and just over half for gas."

Thanks

That makes sense

Is there a link between the bigger buybacks lately and the increasing share price.

Or is it just the oil price that’s moving sp.

Or have buybacks increased because we have more money due to the oil price increase.

BP p.l.c. (the "Company") announces that on 5 September 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 7,538,009 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programmes announced on 7 February 2023 (the "Programmes") and as detailed below:

Dicklaw

Just trying to be clever, which often does not work.

We just need to wait things out

WP

Could BP not just float it as a stand alone company with us shareholders each owning one share in it for every BP one owned.

Then we can at a future date perhaps get access to the cash.

Putin might possibly leave it alone if it’s just a change in how it’s held.

It gets BPs name right out of it, and except if it annoys Putin, there is no new risk for us shareholders.

If it floated on the stock exchange they could even be traded.

Another 15% rise next year and same again in 2025 would take us to a div of about 7.5p in 2025

Yield currently is about 4.6% annualised up.

A 7.5p div and the same yield gives a sp of about £6.66.( in 2025)

Both would make me happy.

Theaky

Can’t really argue with your figures.

Hopefully the high oil price this quarter (and hopefully the next quarter), allow them to reward us shareholders.

Sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the three dealing days between 30 August and 1 September 2023 (£1 = US$1.26831). Accordingly, the amount of sterling dividend payable in cash on 22 September 2023 will be:

5.7320 pence per share.

BP p.l.c. (the "Company") announces that on 4 September 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 5,855,464 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programmes announced on 7 February 2023 (the "Programmes") and as detailed below:

Will be interested to see if buyback volume matches Friday

Planit

I am hoping OPEC will act to keep the oil price from getting too high,they know a recession will muck things up for oil prices, so I hope they target $90 oil with a $5 swing either way.

The odd short lived excursion up to $100 would be okay, but only in react to world events not as a target.

BP would do very well at those prices .

BP p.l.c. (the "Company") announces that on 1 September 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 7,572,744 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programmes announced on 7 February 2023 (the "Programmes") and as detailed below:

I find this bit of the article very promising

Boffa is a seasoned management executive, with over 25 years of experience with BP. She has worked across many sectors, including engineering, retail, sales, marketing and operations. Most recently, she served as President of both BP’s Retail Operating Organization and Thorntons LLC, leading the integration of BP’s ampm business with Thorntons while concurrently overseeing the operations of more than 1,200 convenience stores nationwide.

I believe the Thorntons integration went very well.

Https://www.ccjdigital.com/companies/article/15546274/following-acquisition-by-bp-ta-gets-new-ceo

Jezzoo

Almost spot on with your sp,prediction.

Hope your Friday one is correct also.

Onward and Upwards

Looney said himself that EV charging in Germany and China were earning more than their costs now.

I think that means if you discount initial capital outlay.

They are now cash positive.

Might be a wee bit before they earn back initial capital,outlay, but he was very positive on them.

But it could have been written about BP

For me everything is starting to look good for the couple of months leading up to the 3rd Quarter 2023 trading results at the end of October. We are two-thirds of the way through another decent Quarter, with oil production cuts appearing to work well, looking at the start of Winter, the next set of tactics in Putin's playbook on energy & food supply etc etc.

The light at the end of what will prove a long tunnel can be just about glimpsed in terms of reducing entrenched inflation, excessive bullying pay demands from the heavily unionised public sectors, interest rates topping, cost of living crisis very gradually dissipating etc etc.

China's recovery might be wavering & there is little surprise on this, but their weird combination of command and capitalist economy, will likely find an state imposed solution eventually. I agree with Boyo demand for oil at around 100 million bpd looks resilient & I'm looking forward to a really good next couple of months.