Member Info for meoryou

Don’t think BP would have been planning buybacks at £3.80 with oil at 109 dollars when they made their original plans for buybacks
For some reason the two seem compatible which is something I never expected when original buybacks started

I would be quite comfortable if oil prices have peaked for now, as long as they don’t go down to far.( but the best way to get higher oil prices is to say they have peaked).
It might help the inflation problem if oil levelled out 90-110 for a while
Currently this is not investing it’s more like a game of Snakes and Ladders

U.S. gasoline demand increased by 5.5 percent on Sunday compared to the previous Sunday and was 11.4 percent higher than the average U.S. demand of the past four Sundays, according to data from fuel-savings app GasBuddy.

In the week between June 12 and June 18, U.S. gasoline demand jumped by 6.3 percent from the prior week and was 7.4 percent above the rolling four-week average.

BP p.l.c. (the "Company") announces that on 21 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 10,000,000 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): 400.2500
Lowest price paid per Share (pence): 394.000
Volume weighted average price paid per Share (pence): 396.6078
I would caution anyone looking at RNS that totals at top are wrong
( show 5 m,3 m,5 m. Should show 5 m,3 m,2 m which then adds up to 10 m as described)

Sorry Spights
Was out in the garden taking down a shed .
Any chance of a repeat back up to £4 please as missed the excitement

My view for what is worth is this recession when it comes will still keep oil prices higher than a traditional recession.
Why
1) pent up demand from those who still can afford holidays
2) demand destruction will mean Europe can take less Russian crude and switch it to take some surplus from the oil majors
3) also think OPEC will not make same mistake as last time and will manage oil prices around 70-80 dollars.
They always say this recession will be different, but this time due to Russia I really think it will be better than normal for oil companies .
Time will tell

I think maybe we hit £4.52 too quickly so it became a spike instead of something with foundations to build on.
Must confess I thought £4 was solid.
Theaky I have no doubt you will be back in profit, just when is the massive question.
Maybe if America’s could just close for summer we could sort it out this side of Atlantic.
Even a 10% increase in div would currently take it up to nearly 5 p which is at least a start.
I’m still hopeful that they they can sell Rosneft, and it’s disposal forms main part of their crude reduction target, so we can get on with making money from rest of our assets.

It’s so easy to get confused, and the default position just now is to expect bad news from America

Think it’s Friday figures it’s a holiday in America

The sad fact is they are being used now for political reasons.
And not for the first time.
If something really mega happens , which is the whole point of them unfortunately they will already have been used.
America appears to be catching its share of major weather events.
What if a mega hurricane hit and damaged gulf oil rigs and pipelines which has happened before?

BP p.l.c. (the "Company") announces that on 20 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 10,000,000 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): 392.5500
Lowest price paid per Share (pence): 377.7000
Volume weighted average price paid per Share (pence): 387.2943

Lokiloo
Some trade unions main purpose is to look after their members.
I have no problem with that.
Some see their purpose as looking for trouble.
It’s in the main always the same faces looking for a fight.
The political trade unions have resulted in all trade unions being bashed.
I have been involved with trade unions and have been helped by them when needed so I am not anti union.

It’s funny but you never hear of a pilot going on strike just before landing just because he knows you need him.
But there is a certain type of trade union who never let a crisis go to waste.
If they feel they can take advantage they do.
I would not say every trade union is bad , but the political ones are often the worst.

Theaky
I think you forget that one of the main reasons we normalised relations with Germany after WW2 was due to Russia and their desire for as much of Germany as they could get.

OIL giant BP has rubbished claims by the boss of Russian energy firm Rosneft that it was second-guessing its decision to pull out of the country after the Kremlin’s invasion of Ukraine.
Igor Sechin said BP still remained its largest private shareholder despite announcing its departure from a three-decade partnership with the Russian company.
“All these actions speak of a desire to remain an active participant in the Rosneft company and to wait out the disadvantageous geopolitical situation without real losses,” he claimed.

But a BP spokesperson told City A.M. last night that the firm was continuing the process of divesting its shareholding.
The firm has written down the value of its Rosneft shareholdings and interests to zero earlier this year, taking a $25.5bn (£20.8bn) balance sheet hit.
BP-nominated directors Bernard Looney and Bob Dudley have both also resigned from Rosneft’s board.

Well a good start is always better than a bad one.
And think America shut so they won’t spoil the party

Technically we will have had a div increase from 3.7118 p in June last year
To . 4.3556p this June .
That’s purely because div is announced in dollars and exchange rate has been in our favour.
Hopefully the promised div increase financed by the lower share count due to buybacks is announced in August

It’s interesting the less politics involved with oil the better the oil companies support the market and consumer.
The more politicians get involved the more problems are caused.
Very few politicians really understand how the oil system works.
Oil companies and OPEC have kept the system working for almost 50 years but now politicians want to change everything.
Saw an interesting article comparing Exxon to Apple, and how Apple profit have been constant and bigger than Exxon , but Exxon is the bad guy, while Apple even set their own prices and could sell lower, and Exxon only sell at whatever is market rate

I have said all along there is still dialogue between the 2 companies.
I get the feeling that it’s only Putin that could muck thing up.
Otherwise at some point something will be worked out.
There are lots of choices
Sell, hive it of in stand alone company, or business as before.
Think it’s positive div being talked about , so they have not just stolen it as some feared.

Do you think that things between Germany and Russia will ever be the same.
They tried the peace by being your best customer approach.
I just think in future all of Europe will make sure energy supply is as diversified as possible,which isn’t a bad thing.
I suspect Ukrainians will have long memories .
I’m not disagreeing with your points, just not sure the world will just return to normal.