Member Info for meoryou

https://www.offshore-technology.com/news/bp-accused-of-ten-serious-violations-by-us-authorities/

BP p.l.c. (the "Company") announces that on 17 March 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 10,007,497 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): 504.20
Lowest price paid per Share (pence): 476.75
Volume weighted average price paid per Share (pence): 488.5333

I know that feeling well.
Sometimes these things just have to run their course.
I thought this morning it had .
Boy was I wrong again !
Something else always comes along eventually.
Read an article that said the decline rates in US fracking are starting to catch up.
Meaning maximum production may already be behind us.
The whole Russian thing is still a developing story.
And OPEC are waiting and watching.
With all these I am sure we will do okay.
Maybe not super dooper but definitely okay.
I hate it when we go down to these levels.
Not for the obvious,but because I find it harder to resist the bargain price on the sp.
Think there maybe a few reinvesting div in a couple of weeks

Just thought I would post it since back over 10,000,000 shares and back under £5

BP p.l.c. (the "Company") announces that on 16 March 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 10,040,768 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): 500.10
Lowest price paid per Share (pence): 470.95
Volume weighted average price paid per Share (pence): 483.7884

Morning Spights and all
Hopefully a calmer day today.
Yesterday was more like a cattle market.
Expect this to take a couple of weeks to see where things really are.
But do note some comments from news items about last banking crisis, where it seemed all over and there was nearly 6 month of calm before the domino’s started to fall.
Hopefully this time it’s all over quicker as everything seems to happen quickly these days with all the volatility.
Still,expecting BP to be a lot higher by year end.
Positive thoughts
Don’t think yesterdays budget did BP any extra harm.
Hunt ( and why would he lie) says there will be no recession this year!!!!
We are still a cash machine
Enjoy the ride

https://www.jwnenergy.com/article/2023/3/15/bp-economist-warns-against-too-much-focus-on-decar/

https://www.saudigulfprojects.com/2023/03/oman-singed-agreements-over-51bn-for-green-hydrogen-projects/

And a couple of more positives
7) interest rates might not go up again till this is all sorted or understood more.
8 once again Exxon not so badly hurt as European oilers so differential again opening up.Making a takeover a bit more rewarding for Exxon.

Haven’t been posting these lately as they were all roughly the same
Couple of thoughts
Today we were buying back more than 10% more shares for the same money as when we were above £5.50.
Tinker calls it well when he says we are really only revisiting where we were before results day 6 weeks ago.
The business is still ticking over nicely and the oil price is in the $70s.( not the $50 at least so far)
There is only 2 weeks of quarter to go so it won’t be a massive affect.
Hopefully it’s all a 2 week wonder.
Looking for some positives on a very bad day.
1) buybacks got so much cheaper
2) with oil ( and energy) so much cheaper inflation fighting FED just got some help.
3) there are muttering that with oil falling Windfall tax may be modified.
4) OPEC must feel the need to react soon
5) possibly the Strategic reserve will come in as a buyer as suggested below.
6) it’s going to hurt the Russians oil monies

BP p.l.c. (the "Company") announces that on 15 March 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 9,311,816 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:
Volume weighted average price paid per Share (pence): 502.2654

And that’s why I’m not a big fan of buybacks above £5.
Although I do think we will still be a lot higher by year end.
Maybe a big shake out of companies that do not make money is due, then those that make real money will be valued better.

Just 2 weeks ago £5 looked so unlikely as not even to be on the radar.
Now despite no major change in our business we are back there.
I still expect OPEC to keep oil price in the main above $80?
Starting to think my dog knows more about investing than me

Think I have to own up .
Think this is all my fault.
Every time I take ownership of some BP shares from my wife with view to selling later at a higher price this happens.
This is the third time she has managed to do it to me.
Last week I took some at £5.48
This week I took some at £5.22
Don’t know how she can time it right 3 times.
She doesn’t even follow the BP sp so maybe that’s the secret.
Silver lining.
Every time I have managed to wait out market and still make a profit,but always could have bought in market lower and made more.
I promise not to do it again

Thanks Billzo
It’s a rather open ended statement on their site, which try’s to be positive about div with no real information

Will we not also at some point have div reinstated
Or is that not expected this year?

Sometimes averaging down is a simple as I like getting a 5% return.
Sp has dropped now if I buy more I can get 6%.
Sp had dropped now if I buy more I can get 7%
But at least it’s in a share we know.
When you try to diversify that’s when the big surprises come as it takes a while to know a new company.

I have said for while that the main cause originally of the inflation spike was the large rise in energy.
This would have started to be worked out of the system by now.
And also reigning in discretionary spending a bit.
Now with all they have done on interest rates and the secondary damage they are doing as described below.Inflation will probably at best plateau for a while.
Energy prices are way past their peak.
But bankers seem determined to have some pain and a recession.

Morning Spights
Just bought a few here as looking like they will be doing my car insurance.
Hopefully your positively will help here also

https://www.politicshome.com/news/article/treasury-windfall-tax-price-floor-budget-energy-profits-levy