Member Info for meoryou

BP p.l.c. (the "Company") announces that on 19 October 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,380,007 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 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 455.8
Lowest price paid per Share (pence): 445.8
Volume weighted average price paid per Share (pence): 451.5269

Think they may have overpaid, but the more you read the more potential there is.
They are part of a joint venture with a massive amount of potential.
The owners already sold out a shale company so they new exactly what they could get.
Bernard’s comment was no one has made money buying up oil companies at $100 oil.( which may be true).
I think if there is a recession and oil prices drop BP will financially be in a very good place to take advantage.
They do still buy oil fields if they have the right strategic fit.

https://www.forbes.com/sites/christopherhelman/2022/10/18/bp-bets-4-billion-on-green-landfill-gas-yielding-another-fat-payday-for-the-shalennial-rice-brothers/

Thanks to federal subsidies, sucking methane out of landfills is twice as profitable per unit of energy versus pumping oil—with zero carbon emissions.

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-invests-in-free-local-electric-transit-business-freebee.html

Tinker
Love your idea ,but even better would be if you told them you wanted the cash so you could buy. BP as it was a sure thing to be £7 next year ( cos Barclays says it will )
Think manager would look at you as if you had suddenly grown an extra head.

BP p.l.c. (the "Company") announces that on 18 October 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,229,025 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 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 458.00
Lowest price paid per Share (pence): 445.5
Volume weighted average price paid per Share (pence): 452.5888

Jakers
Think the buybacks put a floor in place, that supports as long as oil or DOW don’t tank.
Think that floor has moved up since div was increased.
If 10% div increase moved us from £4.00 to £4.50 just think what is still represented by the chunk of div still not reinstated

https://biofuels-news.com/news/aberdeen-international-welcomes-first-supply-of-saf/

Morning Spights
Only 10 working days left of worrying about sp before next set of results.
Feeling rather positive, but anything can happen in next 10 days.
Onwards and Upwards

The world has gone a bit mad.
You used to know what something was worth.
I would agree it does look as if BP has been on the wrong side of a few deals.
Think their vision of the future could be right.
It’s just not going to happen when they expected it to.
Time will tell how many years out they are ( if 2030 is 10 years early we may be in a bit of trouble, just as well BP is a money machine)

https://oilprice.com/Alternative-Energy/Renewable-Energy/Renewable-Investments-Could-Outstrip-Upstream-Oil-And-Gas-In-2022.html

BP p.l.c. (the "Company") announces that on 17 October 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,386,458 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 2 August 2022 (the "Programme") and as detailed below
Highest price paid per Share (pence): 462.4
Lowest price paid per Share (pence): 447.3
Volume weighted average price paid per Share (pence): 455.1483

Charlie
While not trying to defend the deal or Looney.
And agreeing totally that oil and gas are going to be around till a long time after 2030.
I hope that when energy settles down again in a few years that there will be some rational for green renewable gas to command a large premium from companies trying to look greener( but when the time is right rather than a political decision).
Or else as green feedstock for Hydrogen from gas.
But maybe that’s just me hoping they do actually know what they are doing

Clued
BP can pick and choose where to invest their cash.
They appear happy with their choice.( maybe something we are not seeing)
Hopefully it makes sense going forward.

Happy I suspect at some time these renewables will carry a big premium as the world does transition to things like renewable gas.( when is sometime? Maybe in 2030s)
However I take your point that something like HarbourEnergy would have been a bigger financial benefit right now.
I just don’t think it fits the boards current mindset.

Accelerates bioenergy growth
Acquisition of a leading US renewable natural gas (RNG) producer will accelerate growth of bp’s strategic bioenergy transition growth engine
Operates 50 RNG and landfill gas-to-energy facilities across US, with development pipeline supporting potential for around five-fold increase in RNG volumes by 2030
Doubles the EBITDA bp expects from biogas to around $2 billion by 2030; supports increase in bp’s aim for EBITDA from transition growth businesses by 2030 from $9-10 billion to more than $10 billion
Adds distinctive value
Builds on bp’s existing biogas business – expanding in the US, a key fast-growing geography for biogas
Expect additional distinctive value through integration with bp’s trading capabilities and global customer relationships
Maintains financial discipline
$3.3 billion cash acquisition; acquisition multiple of around four times1
Remain committed to disciplined financial frame; five priorities unchanged, including no change to dividend or buyback guidance
Expected to be accretive to both earnings and free cash flow per share, post integration, and to deliver double-digit returns

Think the political landscape has changed totally, and it’s going to take a while for the dust to settle so we can see which way we are pointing.
There are so many conflicting things pulling at peoples lives and pay packets at the moment.
The only certainty is that BP will have a rather good set of results in 12 working days.
After the carnage on Friday in US it’s anyones guess where Monday will go.
There is just as much chance of bouncing back as there is of continuing the losses.
It’s beyond me where we will be come results day.
But please Dear MR Santa Claus could it be above £4.50

https://www.dailymail.co.uk/news/article-11317867/Growing-fears-Gordon-Browns-pensions-timebomb-finally-explode.html

Clued
Unfortunately the one leader who they did believe in ,and would follow would be ThE Donald.
Trump can even make them believe the election was stolen even if all evidence is proved untrue again and again
But you are correct there are few leaders you would believe in anywhere.
And sadly people are desperate to believe in someone.

BP p.l.c. (the "Company") announces that on 14 October 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,112,527 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 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 465.35
Lowest price paid per Share (pence): 453.05
Volume weighted average price paid per Share (pence): 460.6171