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BP p.l.c. (the "Company") announces that on 30 January 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 3,260,400 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 November 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 496.25
Lowest price paid per Share (pence): 486.30
Volume weighted average price paid per Share (pence): 491.6153

The Trans Adriatic Pipeline (TAP) has started the process to increase its capacity to 20 billion cubic metres by 2027, it said on Monday, helping Europe to enhance its energy security.

The 878-kilometre (546-mile) link, which transports gas from Azerbaijan to several European countries including Italy, said 1.2 billion cubic metres (bcm) of incremental gas capacity per year will be available to clients through contracts starting from 2026.

This is the first step in a plan that should lead the energy infrastructure to double its current capacity to 20 bcm, if the following market tests give positive feedbacks.

"We are pleased to start expanding TAP's capacity, which can incrementally be increased up to at least 20 bcm per year," TAP's Managing Director Luca Schieppati said.

The expanded capacity will also allow the infrastructure to transport hydrogen and other renewable gases, Schieppati said.

In July the European Commission signed a memorandum of understanding with Azerbaijan to double imports of Azeri natural gas to at least 20 billion cubic metres a year by 2027 as the bloc strives to replace Russian gas with alternative fuel supplies.

TAP's shareholders include oil and gas group BP and Italian gas grid operator Snam. (Reporting by Francesca Landini Editing by David Goodman and Barbara Lewis)

Don’t think it will happen, but the media appear to want one of our biggest companies to be taken over.
Said already so have to stick with
£8

Despite the declines, in the New Momentum scenario global emissions would only fall 30 per cent from 2019 levels by 2050, according to the report, which added that a 95 per cent drop from 2019 levels was required for the world to achieve net zero emissions.

In that scenario, oil demand would remain around current levels, close to 100mn b/d, through “much of this decade” before declining gradually to about 75mn b/d by 2050. Under the “Net Zero” scenario, the study’s most ambitious outlook for a reduction in emissions, demand would drop to 70mn b/d in 2035, falling to 20mn b/d by 2050.

However, BP argues that natural declines in existing oilfields mean investment in oil and gas production will still be required for the next 30 years, even under the “Net Zero”

The events [of the past year] also show how relatively small disruptions to energy supplies can lead to severe economic and social costs, highlighting the importance that the transition away from hydrocarbons is orderly,” Dale said. Demand for hydrocarbons must therefore fall “in line with available supplies”, he added.

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BP has trimmed its outlook for oil and gas demand in its latest annual forecast, arguing that the upheaval unleashed by Russia’s invasion of Ukraine will push countries to pursue greater energy security over the next decade by investing in renewables.

As a result, global carbon emissions could peak earlier in the 2020s than it had previously suggested, BP said in its annual energy outlook on Monday.

But even with increased political support for the shift away from fossil fuel, governments and industry are still far behind in the race to achieve net zero emissions by 2050, the analysis showed.

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One of the sector’s most closely read studies, the outlook describes three scenarios for the evolution of the energy sector through to 2050. Under its “New Momentum” scenario, which is designed to “reflect the current broad trajectory” of the world’s energy system, oil demand would be about 93mn barrels a day in 2035, 5 per cent lower than it forecast last year, and natural gas demand would be 6 per cent weaker.

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The lower forecasts reflect an increased role for domestic renewable energy as countries reduce dependence on imported hydrocarbons, but also expectations of weaker economic growth in the next decade because of the lasting impact of the energy crisis.

“The experience from the major energy supply shocks of the 1970s suggests that events that heightened energy security concerns can have significant and persistent impacts on energy markets,” Spencer Dale, BP’s chief economist, said in the report.

As a consequence, global carbon emissions under the New Momentum scenario would peak in the 2020s and reach 37.8 gigatonnes in 2030. That is a

https://www.ft.com/content/857dfefa-98c6-4ed5-a0ad-5a7bb6669411

Morning Spights and Jakers and all

Hi Charlie
That looks like a realistic set of expectations.
I’m hopefully that there may be a little bit more than that.
But then I am an optimist, and BP do make a habit of beating expectations

Results day starting to get close.
What I would like to see.( not necessarily what I expect to see)
Div increase by 25% .
buybacks $3 billion.
Debt down by $5 billion.
It would also be nice to start laying out the framework for the next 5 year plan.
And to start talking about what renewables earnings will look like going forward
I’m sure I am being over optimistic
but why not,for the next week or so it’s easy to have high hopes.
The strategy should start to slowly gather more momentum each year from now onwards.

Tinker agree.
It’s the hypocrisy that annoys me.
They only pick what they want and still jet of on holiday or to protest.
The court case the other day about F1 protestors against oil had people from as far away as Aberdeen

Jezzoo
It’s really just some analysts looking at the undervaluation of BP and Shell and saying what if Exxon of Chevron bought them .
As part of Exxon they would be valued like an American oiler so worth more.
Sometimes it does stir something up.
But I really thing Exxon and Chevron will be very aware of how undervalued BP and Shell are so don’t need someone to tell them.
So I don’t expect anything to come of it.
The market has the same view or we would have had a pop up in sp to at least £5 something.

BP p.l.c. (the "Company") announces that on 27 January 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 3,342,756 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 November 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 496.50
Lowest price paid per Share (pence): 487.15
Volume weighted average price paid per Share (pence): 491.8870

Have a great weekend.
I’m still smiling and lots of positivity.

Jakers
I have seen reports suggesting BP and Shell have 30-40% upside potential even without a takeover being mentioned.
I believe that potential is definitely there ( just not now).
I said in the past £8 for an American take over.
£7 if it was Shell.
People think they are unrealistic because when they look back they say sp never has been £8.
But it has it just doesn’t show on graphs due to share splits.
BP are doing historic massive earnings without a sp to match.
And I know people will say we cannot even stay above £5, but our day will come.

https://www.businesswire.com/news/home/20230126005919/en/Equinor-and-bp-Bid-for-Third-New-York-Offshore-Wind-Solicitation

https://news.am/eng/news/741535.html

https://www.advisorperspectives.com/articles/2023/01/26/big-oil-faces-headwinds-after-record-199-billion-profit-haul

BP p.l.c. (the "Company") announces that on 26 January 2023 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 3,448,951 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 November 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 483.95
Lowest price paid per Share (pence): 475.50
Volume weighted average price paid per Share (pence): 479.6627

https://interfax.com/newsroom/top-stories/87316/

Agreed but nothing like a good rumour to help thing along when it’s quiet.
Market not believing either or there would have been a pop in sp