Member Info for meoryou

Thanks Enso you are a star.

Ignore last post think now it refers to total UK capacity.
The same figures keep reappearing but seem to mean different things each time

BP had 10 GW installed offshore wind capacity in 2020 in UK
That’s still the best I can find

Hi Zac it’s something I’m still looking into.
BP not making it easy to find this info , but my figures did come from their site.

20 GW of offshore wind by 2025 (producing)
50 GW of offshore wind by 2030 ( producing)

Sorry lines 5 and 6/should be at end

Theaky hope this helps
Development of offshore wind power will play a key role in the UK government’s plans for a ‘green energy revolution’ ? a plan bp strongly supports.
It’s a bit harder to pick up each farm and when it comes on line , but sure it’s somewhere

Our first move into the offshore wind sector came in 2020, when we signed a deal with Equinor to develop projects in the fast-growing US market. We then expanded our portfolio in the UK in 2021, and have now been successful in our transformational ScotWind bid to build offshore wind capacity off the coast of Aberdeen. It’s another step towards achieving our aim to grow developed renewable generating capacity from 2.5GW in 2019 to 50GW by 2030.
Think there are a set due to be earning by 2025 and another set by 2030
This time scale applies to all the renewables one set by 2025, and a second by 2030

Zac every purchase is shares in any oil company is just a bet on the price of oil.
It’s out of their control and has more effect than most things company can do.
That’s why the big companies are vertically integrated so at least some part is making money.

Think that’s a bit selective.
Last weeks buybacks are under water.
So
Holding shares in a company that even loses on its buybacks.
So almost every other week of this buyback is in profit ???
Some weeks are now very very significant gains of way more than £1

I’m kind of hoping if we go down to about £4.20 and flush out the sellers, then buybacks drag us back up to above £4.30.
Still expecting a rise into div day so buyers using div have to pay more.
Unless America keeps having major drama

BP p.l.c. (the "Company") announces that on 14 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 8,000,000 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): 441.3000
Lowest price paid per Share (pence): 425.7500
Volume weighted average price paid per Share (pence): 434.1727

Thanks for your reply Zac
I am firmly in the camp that fair value for sp just now with oil 100-120 is £5.50
( maybe even more).
Something therefore is holding back sp.
Most likely candidate is massive div cut hopefully we will see some increase in this which will show if this was the case.
Rosneft is probably not the cause as sp was a problem before it happened ( but it could be part of solution if it can be sold).
I know many blame the move to renewables for value destruction ( I believe they are actually a hedge against lower oil prices).
That leaves the 40% reduction in crude.
I think this is very misunderstood as many people think it means less earnings.
What BP say is that there is no earnings gap as only low cost crude will be left so profits from crude will be similar.( more projects producing low cost crude coming on)
Any shortfall is covered by the expansion of the retail arm.
My personal view is that with a recession oil prices will drop but I still believe they will be above 70 dollars ( give or take a few spikes up or down).
I know that does change earnings quite a bit ( as your argument states).
I don’t use BP sp history to look forward as BP and the world are very different from what they were even 5 years ago.
All just my opinion,but I am invested in BP because I believe the story.
That’s why I have continually added over last 18 month.
I need cash out by next April so hopefully will reach £5.50 by then , but since my recent purchases Ave £3 they should be fine

Something really seems to have changed since last results day
Is it the massive profits
Is it that WT is now known and not considered a big problem
Is it more stories about Refining product shortages.
Is it Oil Price
For whatever reason BP sp is resilient and market no longer uses every reason to drop.
I really think oilers will be a safe haven again through the next troubled couple of years.
Question is will it be all oilers or will either European or Americans do best

Zac well picked for your date range if you had picked last 18 month share has more than doubled.
ie most of the rest of your range is the world shutting down due to covid.
You seem to forget negative oil prices and earning which were not even close to covering div and CapEx ,hence why debts went so high

Think we will end up in a recession, but it’s going to be very different from normal for oil.
If the big economies do reduce energy use , the European ones will probably mainly use this to become less dependent on Russia.
If American does have a bad recession and drop energy use this will allow them to export more to Europe .
So although I expect oil prices will drop I’m not sure it will be as bad as previous.
BPs plans to reduce amount of oil they produce means they will be more flexible as they are going for quality not quantity.
BP is so much leaner break even is about 40:dollar oil , and if thing get bad enough to be below that then we are in serious trouble .
Think oil probably stay above 70 dollars in which case oilers maybe safe havens.
Just my opinion

At 15:35 today I can see 419.55 so around then sometime.
It’s nice they managed to take advantage of a low to bag a few cheaper

Reading up more on this deal I like the fact they have done a deal to up off shoe acreage for oil development in an area they are currently in.
It’s nice to have an oil story for a change .
Also there have been few big news items lately.
It’s nice to see they are still busy doing deals

BP p.l.c. (the "Company") announces that on 13 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 8,000,000 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): 431.9000
Lowest price paid per Share (pence): 419.3500
Volume weighted average price paid per Share (pence): 426.5069

Think this must be a positive as it obviously never fitted in with BPs idea of advantaged oil as high cost crude and high CO2 in production.
There are a few projects due on this year which will produce oil a lot cheaper than this.
It was part of the BP drive to be biggest oil producer .
Cost to produce was irrelevant at that time.
Now it’s all about safety and low cost to produce

Just to clarify
When I said in 90s when div went 1 p sp went up £1
What I mean is from one set of year end results to next set of year end results