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There were many shareholders who have said they would sell at £5 as they missed out last time.

So it’s healthy to see pull backs.

It’s probably also a good thing that buybacks have stopped if this is a spike even if it last weeks/months.

But it’s possible this could be the new normal if there is major damage to oil infrastructure.

If Iran does it will Israel not do it to Iran to stop them having cash to rearm in future.

This is a government who likes to wait.

They now have an excuse to do nothing

The sp was below £5 for the simple reason that at oil in the low $60’s BP could not do everything it wanted.

We all expect a sp above £5

With the expansion of the action in the Middle East including damage to oil installations.

I will be sitting on my hands till we see where we go.

Marine traffic app now says only ship moving into the area heading to Iran.

America will have to do something.

Not sure what.

Think drones have changed everything here as it’s simple to do damage at low cost and zero risk.

Marine traffic app now says only ship moving into the area heading to Iran.

America will have to do something.

Not sure what.

Think drones have changed everything here as it’s simple to do damage at low cost and zero risk.

It’s a risky business either way.

You hedge and it’s just a 4 week wonder ,then it’s fine.

You hedge and we get a new development ( like targeting oil infrastructure) you get a second spike even higher

And you miss out.

Even our previous hedges which looked good a month ago might look less great tomorrow .

Wiser heads than mine will consider.

But short term our recent mergers look stunning.

A lie not alive bloody predictive text

“ 100 dollar oil would actually be a good opportunity to drop the current EPL and introduce the new system.”

$100 oil is going to really affect UK balance of payments.

All those who advised about supply shock and reliability of imports .

May very soon be proved right.

But the reality will be you know who coming on tv tho say thank goodness we have wind energy.

Probably next we will get a week of freezing fog to show that one is alive also

If you look at a marine tracking app

At least 90% of traffic is heading away from the straights.

This suggests already it’s having an effect.

That if it continues even for a few days will definitely move the oil prices .

If you look at a marine tracking app

At least 90% of traffic is heading away from the straights.

This suggests already it’s having an effect.

That if it continues even for a few days will definitely move the oil prices .

Nightpusher advice good as always.

Set a target that makes you happy.

If you reach it sell half of what you wish to sell.

Then be greedy with what’s left.

If you are wrong you are only half wrong.

If you are right you get an extra bonus..

But what is that price you ask.

If we get a 10% up kick in oil.

Is it reasonable to hope for 10% up in BP sp?

So think might sell 2000 shares if we pass £5.30 ( but view momentum at the time)

But very much will see how the mood is Monday as BP has got a lot of potential at these oil prices.

But that’s just an opinion

Same to you Spights

Might be an interesting weekend.

Getting warmer too

Pang

Sorry to see you go but have enjoyed your input.

We invest for future enjoyment,so it’s never wrong to cash the chips and enjoy.

Best wishes

As BP works to repair its balance sheet, executives have been fielded the questions from analysts about whether it wouldn’t be wiser to unlock the value of BPX by selling it or spinning it off.

During the interview, Koontz declined to disclose the breakeven oil prices for BPX’s operations in the Permian Basin, Eagle Ford or Haynesville shale regions. International crude prices have been trading below the $70 per-barrel price assumption used in BP’s strategy, which was announced last February.

But he noted that short-term market blips aren’t likely to disturb long-term drilling plans. BPX probably wouldn’t alter its growth plan unless there was a larger macro disruption like the Covid-19 pandemic that collapsed the industry.

“Where we struggle in the past and other companies struggle in the past is you start cycling capital too much,” said Koontz, a native of Midland, Texas — the unofficial capital of the Permian — who played linebacker for his high school football team that won a state championship in the 1990s. “It’s hard to get good, steady-state operations and you don’t get the benefit of that manufacturing approach” with roller-coaster budgeting.

( sooty about the cut and paste that went wrong if only we could edit)

BP Plc is aggressively expanding shale drilling, bucking the conservative approach of many rivals, as the UK oil giant seeks to reverse years of anemic output.

The company’s BPX Energy unit plans to increase production from shale fields by 8% this year, BPX Chief Executive Officer Kyle Koontz said during an interview in Houston. Shale output equivalent to 500,000 barrels a day would make up roughly 20% of the parent company’s current worldwide production.

By the end of the decade, Koontz’s goal is to raise that to 650,000 a day. The plan is part of BP’s grander ambitions of reversing a plunge in production, profits and shareholder value from an ill-starred 2020 pivot to renewables and low-carbon alternatives.

The contrarian move also comes as marquee shale outfits such as Diamondback Energy Inc. and EOG Resources Inc. rein in production growth, taking a wait-and-see approach amid widespread warnings of an impending worldwide crude glut that would tank prices.

Koontz, a University of Oklahoma-trained petroleum engineer who cut this teeth at shale pioneer Tom Ward’s SandRidge Energy Inc., aims to squeeze more crude from US shale fields while lowering operating costs, a move that will free up more cash for the parent company’s far-flung international pursuits.

We’re also going to spend $800 million in less capital” on the way to the 2030 target, Koontz said. “The reason that’s exciting for BP is that allows them to sanction other growth projects; they can redeploy that capital to other growth.”

Once a formidable member of the elite club of international supermajors that includes Exxon Mobil Corp. and Chevron Corp., BP fell on hard times after betting big on a shift away from fossil fuels that mostly failed to materialize.

BP’s overall output plunged as the company shed crude and gas assets, and trimmed upstream investment. Its market capitalization is still almost 40% below where it was in early 2019. The company now ranks below ConocoPhillips and Brazil’s Petrobras in terms of valuation.

“BPX is a core part of BP,” Carol Howle, the BP trading chief who is serving as interim CEO until Meg O’Neill takes the helm in April, said during a conference call. “It’s got a great production forecast through to the end of the decade.”

Koontz’s growth initiative comes after a chaotic year in which the parent company has been pushed by activist investor Elliott Investment Management for drastic change and Murray Auchincloss was ousted as CEO.

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BP Goes Big on Shale Oil Drilling as Many Rivals Flatline Output

By David Wethe

February 26, 2026 at 3:28 PM GMT

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BP Plc is expanding shale drilling through its BPX Energy unit to reverse years of anemic output.

BPX Energy plans to increase production from shale fields and aims to raise output to 650,000 barrels a day by th

Iran has tripled the rate of loading tankers in recent days as Tehran rushes to get its oil out of the Gulf ahead of potential further escalation of the tensions with the United States, according to vessel-tracking data.

Crude oil exports from Iran’s key export hub on the Kharg Island soared to 20.1 million barrels during the period February 15 to 20, according to Kpler data cited by Bloomberg. The rate of loadings at Kharg Island, which handles nearly all of Iran’s oil export volumes, was three times higher between February 15 and February 20, compared to the period January 15-20, for example. The loadings last week were equivalent to over 3 million barrels per day of crude oil, which is more than double Iran’s estimated typical export levels in recent years.

The elevated rate of oil loadings in recent days suggests that Iran is bracing itself for a possible escalation of the U.S.-Iran tensions and could be preparing for some kind of U.S. military intervention, analysts say.

In recent years, Iran has on several occasions rushed to ship oil out of Kharg Island at times of heightened tensions.

Iran has tripled the rate of loading tankers in recent days as Tehran rushes to get its oil out of the Gulf ahead of potential further escalation of the tensions with the United States, according to vessel-tracking data.

Crude oil exports from Iran’s key export hub on the Kharg Island soared to 20.1 million barrels during the period February 15 to 20, according to Kpler data cited by Bloomberg. The rate of loadings at Kharg Island, which handles nearly all of Iran’s oil export volumes, was three times higher between February 15 and February 20, compared to the period January 15-20, for example. The loadings last week were equivalent to over 3 million barrels per day of crude oil, which is more than double Iran’s estimated typical export levels in recent years.

The elevated rate of oil loadings in recent days suggests that Iran is bracing itself for a possible escalation of the U.S.-Iran tensions and could be preparing for some kind of U.S. military intervention, analysts say.

In recent years, Iran has on several occasions rushed to ship oil out of Kharg Island at times of heightened tensions.

But could be a catalyst for getting back in FTSE.

With the possible benefits that might bring.

All our ducks are slowly lining up

Azule Energy Holdings Ltd - Eni SpA and BP PLC's 50-50 joint venture in Angola - and its partners have started producing oil in the "Ndungu full-field", part of the Agogo Integrated West Hub Project in the waters of the Central African country.

Ndungu is designed to produce up to 60,000 barrels of oil a day, with seven production wells and four injection wells, Italian state-backed energy major Eni said in an online statement.

"The phased integration of Agogo Integrated West Hub Project, with Ndungu full field producing first via N’goma FPSO [floating production, storage and offloading vessel] and later via Agogo FPSO, will ensure sustained long-term production from Block 15/06 and contribute meaningfully to Angola’s national output, in line with the country’s strategic petroleum objectives", Eni said. "Together, Agogo and Ndungu expect to reach a peak output of approximately 175,000 barrels per day across the two fields".

Incorporated joint venture Azule, based in Luanda, operates Block 15/06, in the Lower Congo Basin, with a 36.84 percent stake. Sociedade Nacional de Combustíveis de Angola EP owns 36.84 percent. China Petroleum and Chemical Corp holds 26.32 percent.

Earlier this month Azule declared a new oil discovery in Block 15/06, with an initial estimate of about 500 million barrels.

"The Algaita-01 results build on a long successful track record of 22 discoveries, once again confirming the exceptional effectiveness of the petroleum system in Block 15/06", Azule chief executive Joe Murphy said in a press release February 14.

"The presence of multiple nearby producing facilities further enhances the value of this new exploratory success".

BP says fresh sanctions relief from the United States Office of Foreign Assets Control (OFAC) allows it to move forward with the offshore Manakin-Cocuina natural gas development, a field that straddles the maritime boundary between Venezuela and Trinidad and Tobago.

A company spokesperson told Upstream Online that the newly granted general licence from OFAC gives BP the legal clearance to proceed with development work on the field after earlier authorisation was revoked in 2025 under previous US policy.

The Manakin-Cocuina discovery has roots dating back several decades, with the Cocuina discovery in Venezuelan waters first made in 1983 and Manakin in Trinidad and Tobago confirmed in 2000. Around two-thirds of the gas resource lies on the Trinidad side and the remainder in Venezuelan territorial waters.

BP welcomed the decision by the US government to issue general licences, saying they support the company’s plans to advance the cross-border project. The licence follows a 2024 development licence from Venezuela’s government that BP and the National Gas Company of Trinidad and Tobago received to develop the field jointly.

BP holds operatorship of the Trinidad side of the field and said the Venezuelan licence simplifies work in that portion of the project. In 2024, the company credited significant diplomatic efforts by the Trinidad & Tobago government in bringing BP, the National Gas Company and the Venezuelan authorities together to progress the venture.

The renewed OFAC authorisation clears a key regulatory hurdle linked to longstanding US sanctions on Venezuela’s state-owned oil company, PDVSA, which operates on the Venezuelan side of Manakin-Cocuina.

BP and its partners now aim to advance the project, which is seen as strategically important for expanding natural gas supply into Trinidad & Tobago’s LNG and petrochemical sectors