Member Info for meoryou

I think we are being valued at 60, dollar oil which is stupid.
Even if oil returns to 75 dollars we will still be able to earn more than last time oil was at 75 dollars, as debt will be lower. Share count will be lower .
Renewables will be earning something and we did the buy of Thornton in America.

SYDNEY, July 14 (Reuters) - BP Plc (BP.L) is aiming to start producing sustainable aviation fuel (SAF) in Australia by 2025 after converting its oil refinery near Perth to produce renewable fuels, a senior executive of the British company said on Thursday.

The project is expected to cost "hundreds of millions" of dollars, BP's Asia Pacific vice president of low-carbon solutions, Lucy Nation, told Reuters.

BP has not disclosed what volume it plans to produce, but Nation said output would depend on demand as the facility would be able to switch day-to-day between producing sustainable aviation fuel and biodiesel.

BP p.l.c. (the "Company") announces that on 13 July 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,100,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 383.2500
Lowest price paid per Share (pence): 372.3000
Volume weighted average price paid per Share (pence): 377.837

Think some of these automated systems are now so quick they can act moment the data comes out to make what is now just a downward spike to take advantage then buy back when the herd follows.
Maybe they have too much power.
They can click a button so much quicker than us humans.

https://www.engineeringnews.co.za/print-version/bp-starts-hydrogen-refuelling-site-construction-2022-07-13

I think you can see from this board there is a lot of negativity out there.
That currently appears to effect sp , even as we head towards as you say insane results.
The known negatives appear to be
recession
Oil price drop
Russia
Politicians
Windfall taxes.
Bernard Looneys mouth
Think as long as they don’t all coincide at same time there is still a lot to,like.

I’m predicting that once results come out and buybacks are probably increased again we get a run up in sp, till buyback volume starts to tapper off.
With background noise from oil price etc causing spikes along the way.
Also hoping for at least 6-10% increase in div financed by lower number of shares due to buyback.
All just my opinion

That’s an interesting question.
I suspect for some it will be still a question of you cannot do business with those nasty Russians.
However it may make it easier to sell Rosneft stake , and potentially mean it’s not sold at fire sale prices ( and also less likely Putin gets involved).
So possibly a win for BP?

BP p.l.c. (the "Company") announces that on 12 July 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,100,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 385.9000
Lowest price paid per Share (pence): 373.700
Volume weighted average price paid per Share (pence): 379.8437

Think there was more positivity in run up to last results.
There seems to be a bit of depression over sp at the moment, and most of the posters seem to have gone.
There really is not much real BP news out there at the moment, hopefully that means they are working on something in secret to really wow us.
Hopefully the next set of results set us up for the rest of the year.

https://www.upstreamonline.com/exploration/aker-bp-finds-more-gas-in-norway-s-skarv-area/2-1-1255374

BP p.l.c. (the "Company") announces that on 11 July 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,100,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 386.6000
Lowest price paid per Share (pence): 377.7500
Volume weighted average price paid per Share (pence): 382.843

I would add BP appears to be teaming up with all the big players in its Renewables.
In the Steel Industry,the car Industry ,shipping ,wind power, hydrogen,Air.
They must all think Renewables is where we are heading, and that BP can deliver

British oil and gas company BP Plc (LON:BP) and German steel manufacturer Thyssenkrupp Steel Europe AG have signed a pact on the establishment of a long-term supply of low-carbon hydrogen and renewable power in steel production.
The new memorandum of understanding (MoU) calls for the two companies to explore supply options for both blue and green hydrogen along with the signing of wind and solar power purchase agreements (PPAs). The two partners also intend to jointly advocate for related policies on a European level.

Thyssenkrupp Steel says it accounts for 2.5% of the carbon dioxide (CO2) emissions in Germany, mainly at the Duisburg site where it operates coal-fired blast furnaces. The company, though, plans to replace those blast furnaces with direct reduction plants utilising low-carbon hydrogen on the path toward achieving climate-neutral steel production by 2045.

I think people like to go on about price of petrol.
It feels worse than it should due to the fact during first lockdown price dropping to about £1.
The real price was always somewhere nearer £1.50
Which if oil prices have doubled from near normal and petrol about 30% sounds like a bargain

Not all Green is madness
Some makes total sense.
Some may not.
It makes sense at 100 dollar oil to instal renewables if the are cheaper.
Even at 60 dollar oil it was being stated that wind was cheaper than oil, particularly in a new location.
It does make sense to have wind energy at night when demand is low doing things like energy storage eg the pumped hydro stations in Scotland,or producing hydrogen for refineries.
Norway and BP Aker are at the forefront of powering their North Sea platforms from shore using renewables ( this means they have more gas to sell, and as a bonus are a lower carbon supply).
Renewables now have an extra duty in EU as a way to decrease dependence on Russian energy so do not need to be very cost effective at this time.
The Green energy Levi is a different thing .

That’s the kind of P.R. they could handle better.
Their explanation is that since they get rid of expensive to produce fields that break even cost goes down and profits are almost as big.
If CapEx goes down by 40% that’s 5 billion saved( or something similar)
But they need to prove that’s the case, and get the message out their.
And also discuss the journey to lower crude output.and any impact that Russia has had on that journey.
I believe even on here there are about 4 or 5 versions of what’s happening in the next 12 month, so information would be useful ( and easy to find information not tucked away somewhere on their web site)

Bumble
That’s exactly they kind of P.R. In that video that oil companies need to start.
Would love to see him do P.R. for oil industry or BP.

I think the whole oil industry has been poor at P.R. over the last 3 years.
Especially in the bad times which non shareholders and Politicians just don’t understand.
I also think they have been poor at explaining themselves as profit soared this year.
They could explain the normal cycle of the oil industry and where the various parts like Refining Margins are on the cycle at the moment and why the Major’s are vertically integrated as often parts loose money etc.
I also think BP P.R. has been poor and even now their Strategy in poorly understood eg div meant to increase paid for by lower share count due to buybacks.
Shell. announced reverse of asset write down,nothing from BP.
Then obviously the Cash Cow statement.
I would like BP to tell their story properly so we all know exactly what will happen when.

Tuesday’s oil price collapse might go down as one of the most memorable moments of the oil market’s tumultuous year of 2022. Despite being the third-largest daily loss since the onset of oil exchanges, declining crude did not trigger any changes along the futures curve, implying that the huge drop was primarily coming from widespread profit-taking as primarily non-physical participants panicked at the prospect of recession hitting the markets sooner than expected. The balances, however, do not lie – we are still living in times of extremely tight supply and even though it might take some time, the physical side of the equation will push prices back soon.

BP p.l.c. (the "Company") announces that on 08 July 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,100,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 394.9000
Lowest price paid per Share (pence): 382.6500
Volume weighted average price paid per Share (pence): 389.0593