Member Info for meoryou

Https://www.investorschronicle.co.uk/news/2023/06/06/why-energy-majors-are-piling-into-biogas/

We probably should have just become the 51 st state.

Oh maybe not ,not sure I am ready for Trump

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 31 May and 2 June 2023 (£1 = US$1.24509). Accordingly, the amount of sterling dividend payable in cash on 23 June 2023 will be:

5.3089 pence per share.

The plan was that the div pot would stay the same and decrease in share count would mean an almost automatic rise in div per share of 4%.

So div would stay very affordable

The 10% rise was as a result of better than expected profits and included the 4% due to buybacks

I really don’t understand why the market is letting them do it so cheaply.

If Shell had bought 21% of us I think sp would be miles higher.

I know it’s not the same as we have spent our money to buy the shares,while if another party bought we would still have that cash.

Imagine a time in when BP has bought back 50% of shares and you then all own twice as much of the company.

Value always show in the end

Many of the board like us have been shareholders for years,so like us they must recognise that sp should be above £5.

With that in mind the total buybacks volume so far would be way ahead of their expected schedule.

Oil price also has cooperated so far ,compared to their base assumption of $60

Since last time there was some wriggle room to up CapEx maybe ( just maybe) a we bit wriggle room now for div ?

I recognise that the discipline of the board has been excellent.( and I see that as good)

I also think it’s been a well thought out plan.

Drop div due to covid etc, buyback cheap shares until market suddenly accepts how much they have bought cheap.

Then improve div ( which will also be so more affordable) then watch sp rise.

That’s how it will go,it’s just the time scale that’s unknown in my view.

Tinker

Over the weekend when out in car ,saw no evidence that demand destruction has really started,was surprised how busy roads were.

Holidays still appear to be very busy with bookings.

I’m doing my bit still,another cruise booked for August.

Oil up

Buyback volume up

Just need a wee bit of div up to complete the set

Will obviously be happy if they do break £5 and it’s certainly not impossible it happens tomorrow

But if they spike to much too quickly history suggests that often that’s all it becomes ,just a spike.( although buybacks being bigger may help support a rising sp)

Would be happier with 10p each day next week

this must help earnings for the last 4 weeks of the 2 nd quarter

I have said all along that I believed OPEC had learned from their previous mistakes.

It also makes it easier for them to act when American rig count has dropped a fair bit over several weeks.

It’s almost as if things are all lining up for a change.

I think it could be close to $2 billion by now( including the latest one).

That’s some serious loose change ,just metaphorically speaking stuck down the back of the sofa

This is an old report but assume it’s still the same

Rosneft's Chief Executive Officer Igor Sechin said last week that BP is entitled to $700 million in second-half 2021 dividends, which Rosneft transferred into special "C" accounts in Russia, while BP remained Rosneft's "shadow" shareholder.

Well as predicted by Charlie yesterday buybacks on catch-up.

Oil jumping, BP ADR jumping, as long as US politicians don’t screw up their vote,or OPEC get it wrong it’s looking like another flip to the positive side may be possible

BP p.l.c. (the "Company") announces that on 1 June 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 9,790,796 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:

Highest price paid per Share (pence): 463.30

Lowest price paid per Share (pence): 454.65

Volume weighted average price paid per Share (pence): 458.2075

Think they went ex div today

Morning Spights

At least we have a small up start to the day.

Think the rest of the week is all the US sorting itself out.

Then OPEC get their chance in the spotlight

Then maybe the volatility will decrease ( not a chance,something else always comes along).

BAKU, Azerbaijan, June 1. "Contract of the Century" attracted billions worth of investments in Azerbaijan's economy, Executive Vice President, production and operations at BP Gordon Birrell said during the Baku Energy Week, Trend reports.

According to him, the UK alone has invested over $30 billion in the Azerbaijani economy.

"We are very proud to work in Azerbaijan. Here we are implementing the largest and innovative projects. Azerbaijani specialists work at BP's head office in the UK," he noted.

Birrell also said that BP is working on drilling new fields at the Shah Deniz base.

“We expect this will give us additional gas that can be exported to Europe. Our other project in Azerbaijan is a solar power plant in Jabrayil. This project will allow us to export energy from the virtual substation to the Sangachal terminal," he said.

Birrell noted that BP is working on allocating global investments in the development of energy projects, and part of these investments will be directed to Azerbaijan.

Https://www.chinadaily.com.cn/a/202306/01/WS647829c2a3107584c3ac35fe.html

Https://www.prnewswire.com/news-releases/bp-to-use-honeywells-ecofining-technology-to-increase-sustainable-aviation-fuel-production-worldwide-301837857.html

Charlie

Assuming they actually do know what they are doing ,it must be tactical in some way.

So are they letting it drift down, so they can then gobble up some quickly at that lower price?

I would have assumed that they would have taken advantage now and been ahead in their buys just in case OPEC made a price moving announcement next week.

Just shows it’s too complicated for me.

Off to work in the garden!

Obviously the drop in oil price is a big cause of the drop in sp.

But 2 other causes may be only temporary,the Americans playing politics with the whole world being effected,will resolve at some point.

The other big effect on sp may be the reduction in buybacks,I suspect that was just a temporary thing due to M&A and oil spill payments this quarter.

BP has 5 major low cost projects coming on this year,and has invested more in oil production for next 8 years so production should increase