Member Info for meoryou

The last one at their other refinery did not impact so looks like no.
However fatalities never a good press and more likely to be news.
Also think it was soon after major maintenance so likely to be not a negligence issue.
Just before and just after major maintenance are the major risk times as equipment and people work best when nothing changes.
I believe that it’s not the first refinery fire there in recent past.
It’s also the refinery that BP has agreed to sell, with completion in 2022.

Morning Spights
Damp and dreary here.
Hope BP can be our little ray of sunshine today

BP p.l.c. (the "Company") announces that on 21 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,226,664 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): 465.8500
Lowest price paid per Share (pence): 453.2500
Volume weighted average price paid per Share (pence): 458.8839

Sept 20 (Reuters) - BP said on Wednesday two of its staff were killed after sustaining injuries in a fire at its 150,800 barrel-per-day Toledo, Ohio, refinery.

"The fire was extinguished last night and refinery was safely shut down and remains offline," a company spokesperson said.

No-one should go to work and not come home .
A sad day for several families, within the BP family.
My thoughts are with them right now.

Clued
I thought it might appeal to a few people.
Maybe Kentucky will be marketing Happy Cows
And to be honest there is a distant link to BP as they are selling renewable gas, just not from here.

Sept 20 (Reuters) - BP said on Wednesday it shut its 150,800 barrel-per-day Toledo, Ohio, refinery after a fire, which injured two.

"The refinery has been safely shut down while the response is underway," BP spokesperson said.
"We can confirm two people have been injured. All other staff is accounted for."
The cause of the fire is not known, but leaking fumes from a crude unit may have caused the ignition in another unit at the facility, a source told Reuters.
Workers finished a maintenance turnaround at the facility in recent weeks and the plant had resumed operating, according to the source.
In August, Cenovus said it will buy the remaining 50% stake it does not already own in the BP-Husky Toledo Refinery. The deal is expected to close by the end of 2022.

BP p.l.c. (the "Company") announces that on 20 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,293,695 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): 462.900
Lowest price paid per Share (pence): 451.6000
Volume weighted average price paid per Share (pence): 456.9912

https://oilprice.com/Energy/Energy-General/Jim-Beam-Is-Making-Renewable-Gas-From-Bourbon.html

Harmonica
I think it depends on your mindset( glass half full or half empty)
The buybacks increase things like earnings per share and div if div pot remains same which should have positive effect on sp.
But if you start with a $90 b company and spend $3 b on buybacks you can look at it as an $87 b company with $3 b less shares.
Think that’s partly why buybacks do best in rising market and worse in falling market( also obviously better value if sp rises to higher than you bought at).
Different people see it differently

Zac
Humble Pie time.
You tried to tell about the BP shares all being in London, but I did not at that time understand.
Now what you said makes sense, although still seems more sensible the way I thought it worked.
Just when I think I sort of understand it ,there is always something that catches me out.
Thanks for your posts.

Jakers
I have learned more about BP from this board in the last 6 months than I ever thought I would .
Having been involved with BP since 1976 and a share holder since early 80s I thought I knew quite a bit, but this board at its best is a very good learning tool.
And must be very useful for any newbie.
For them the only problem is knowing what to ignore.
And on a good day it can also raise a smile to keep us going through BPs sp troubles.

https://www.ft.com/content/48dbf7ba-eb1a-4c3e-a71f-0fe52b021cec

I very naively assumed that listed in America meant that they were held over there.
Thanks for the lesson.
I had probably seen the bit about J P Morgan and has assumed it was in America.

Thanks think I follow.
So BP buying back in London have access to shares in London, which can include those listed in America but held in London?

Longtime investor
Thanks it’s amazingly hard to actually find that information out.
Google must have been asked frequently as it’s something that pops up as you type.
Does that mean that buybacks in London can affect number of shares held in US.
Thanks

Zac
only approx 40% of BP shares are listed in London
20% are listed in Frankfurt
and approx 40% are listed as ADRs in US ( an ADR is a parcel,of 6 shares).

Cong if we do start buybacks in US the dollar earning will give some hedge against any movement in the pound.
We are getting a boost when converting to pounds to buyback shares and for the dividend.

I’m really not sure how it works the government site on buybacks says only in UK ( so I imagine there is some tax implications ).
But in principle there cannot be any real reason not to also buyback in US.
Maybe some of our experts can clarify?

Jakers
I think since about 40% of issued shares are in UK and it’s only the UK that they are allowed to buyback currently.
The time scale to running out of shares at 12% each year is much shorter than people think.
12% in 2022
12% in 2023
12% in 2024
Leaves about 4% in issue.
As you say this number will be higher due to shares being issued.
Also hopefully buybacks won’t be buying back 12% each year as sp rises.
At some time the market must wake up and realise that there will be a shortage of shares in UK.
But it does mean if BP wish to be registering elsewhere there won’t be many shares left here for Labour to nationalise

BP p.l.c. (the "Company") announces that on 16 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,065,834 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): 460.300
Lowest price paid per Share (pence): 451.0500
Volume weighted average price paid per Share (pence): 456.7378