Member Info for meoryou

https://www.upstreamonline.com/lng/floater-for-bps-huge-african-lng-project-delayed-but-overall-schedule-intact/2-1-1274143

Not sure the value, but Texas City Refinery when BP sold it ( and I know it was about 10: years ago ) did not even make $1 billion and it was wholly owned by BP and one of the biggest in USA.
They must see value to sell, as they have no need to sell
I would think it’s a case of when the recession comes one less Refinery means they can easily supply any shortfall from their remaining refineries.
They trend seems to be to go for big refineries now.
Just my opinion

BP p.l.c. (the "Company") announces that on 8 August 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,300,060 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): 419.40
Lowest price paid per Share (pence): 411.80
Volume weighted average price paid per Share (pence): 415.2834

There are so many very different views out there .
It looks like even the so called experts haven’t got a clue what’s going to happen next

It may actually be priced in already.
That might be why sp does not reflect profits.
But BP will still make a lot of cash as long as oil price is above $60 and think OPEC won’t let it get that low
No one really knows.

I actually would not have a problem if media decided to name and shame the worst garages for profiteering
Unfortunately they always assume that the badge on Filling Station means that the Oil company is to blame not the owner.
Anyone 5 p above surrounding garages is greedy.
Anyone more than 10 p above deserves to loose all their customers.
Rant over
Come on. BP

There has been to much short term energy thinking.
Trying to be popular and win the popular vote.
Both from politicians and media.
We actually need to have grown up discussions to decide what the energy policy will be going forward for the next at least 10 years.
Right now Germany is a perfect example of getting it wrong.
A diverse range of energy supplies and suppliers is such an obvious thing to need.
How did they all forget that.

It’s unusual to have so many of the things responsible for earning so volatile.
Demand Destruction is the big unknown now.
I’m still in the camp it won’t be a massive demand destruction due to current world events( also they say 2008 recession demand Destruction was not large).
Refining margins look very powerful,
Hope it continues

Went to Shell Garage yesterday as nearest
Diesel. £1.989 per l
only put in minimum as saw it much cheaper earlier.
Today Tesco 3 mile away
Diesel. £1.859. per l.
I know I should be going to BP garage , but it’s motorway prices.
That’s over 50 p per gallon difference.
That’s what ****es of the public.
Won’t be back at the Shell garage they have had their chance

Clued
As I understand it the buybacks have to be carried out by a third party so there is no knowledge of sp moving events.
eg if BP new they were going to double div ( as if), with knowledge of it the buyback would be busier before that sp changing event, as you could buy more.
So that would be insider knowledge.
So in the interest of fairness the buyback must be at arms length.

I had a thought this morning if only the BP Trading arm were allowed to do the buybacks,we could actually make millions of pounds profits in the process of the buybacks.
I realise that it could never happen due to insider knowledge,but I’m sure they could make a fortune in the process if they were allowed.

BP p.l.c. (the "Company") announces that on 5 August 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,778,310 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): 414.1500
Lowest price paid per Share (pence): 399.1000
Volume weighted average price paid per Share (pence): 405.6646

Tinker
There seem to be groups of 10,000 shares going through.
Hopefully that’s a sign of bigger buybacks , but it could be anything.
It would be nice if the buybacks turned around the sp direction today, after all that’s their whole point.
We wait to see if the pattern repeats.

Tinker
Two very good posts
But for rather different reasons.

Hi Baz
It would be nice if it finally decided that £4 was a good support level.
It could be any number why not £4

The RNS at top of page just above share price lists all buybacks since results day
Hope that helps

Not sure what oil is doing as supply still tight.
Diesel supply still tight.
Think they are trying to guess when demand Destruction will start.
Think there is still pent up demand after covid to work through system.
Think Bernard said that in earning call , and that aviation fuel demand was still increasing fast.
There should still be very positive earnings for while yet ( although we may be near the peak ( who knows).
Huge buyback is another hopeful plus.
And at least as I write we are just above £4 but that might not last much longer

https://uk.finance.yahoo.com/news/bp-bp-just-overtook-50-133001479.html

Should be bullish

BP needs only Positivity this morning.
We are on a mission to £4.50 and beyond.
No negative thoughts allowed.

We don’t seem to be doing the Monster buys of 20,000,000 as we were this time last quarter.
I started to think I had imagined them and went back to check they really happened.
Maybe this time we can rise in a way that is more sustainable than the spike last time.
Oil price a bit unsure what it wants to do at the moment
Onward and upwards