Member Info for meoryou

Tinker
Apart from all that’s going on just now how do you feel about BP now price wise.
By that I mean when you break even at £5 something will you just be glad and bale out, or by then whenever it comes , will you stay and hope for a ride higher?
I’m sure with debt reduction and share count reduction that these days will come sometime.
It always is non BP specific news that starts us back down

Think Bernard still learning the job.
Really needs to polish up his PR skills.
Hopefully he has learned that everything he says can be used against him and BP
On the plus side now the WT is here at least we can work out what it does and plan to BPs benefit.
Hopefully £4.30 is the new support level.
As has been stated by someone else it does just show how solid a business BP is that it can deal with all the negatives thrown at it over the last couple of years.

Hi Bumble
Yes it will be interesting to see what the money men make of it.
The market has been very positive about it regarding both BP and Shell saying Uk only small part of business.
Some of the smaller mainly UK oil companies have has sp hit quite hard.
I think it’s been hanging over oil companies for so long that some visibility is good.( although I still think wrong tax at wrong time)
Think BP will have a look and see how they can work allowances in their favour.
They have some very creative money men.
Some reports say that with allowances you can get back 91 p for every £1 you spend in UK.
As always the devil will be in the detail

BP p.l.c. (the "Company") announces that on 26 May 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 9,000,000 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): 436.4000
Lowest price paid per Share (pence): 427.9500
Volume weighted average price paid per Share (pence. 432.7807
Average price payed slowly creeping up now for first time above £4.30
Looks like it’s been a good day for BP

The Shell page on here agree it’s only UK profit and seem to see it as a positive as they expected worse.
They also say at least till 2025 no more talk of windfall tax as it’s already here .
Also investment allowance allows you to offset some windfall tax

Theaky
I know you don’t think when we spend some millions on drilling a oil well it suddenly produces money.
You know we then spend even more on a production rig and pipelines.
So why should the green renewables be different???
You choose to misunderstand them .
You also go on about my posting.
How many oil stories have you posted lately.
They are currently few and far between.
I post BP news , I don’t pick what kind of news to pick.
I suspect in future the Renewables will be spun off, but by then it will because the oil side is holding it back.
Renewables will make money in future , too many governments and big companies are going that way for it to stop

I’m not sure I would pick US to move HQ to as they have already had their cash out of BP.
Think I would register in Switzerland, they seem to look after companies better

My view anything less than £1 billion already priced in.
I’m hopeful for nearer £0.5 billion or less .
Think could possibly be a knee jerk reaction to take sp a bit lower, but over a couple of days buybacks will help to regain upward momentum.
You could even get a relief rally just to finally put it behind us.
Just my humble opinion ( and I have been wrong often before)

BP p.l.c. (the "Company") announces that on 25 May 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 9,000,000 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): 431.0000
Lowest price paid per Share (pence): 424.2000
Volume weighted average price paid per Share (pence): 427.8992

It’s a funny one.
There must be some reason and why now?
My only thought was something to do with Rosneft?
Maybe an IPO of Rosneft stake and any other High Carbon oil resources?
But maybe that’s just wishful thinking on my part

Cherryburn
Planned to be installed in Teesside, the HyGreen plant will kick off operations with some 60 MWe of hydrogen production capacity in 2025, while it is planned to reach up to 500 MWe ?by 2030. The project was unveiled by BP at the end of last year along with the H2Teesside blue hydrogen initiative at the same location.

The groundbreaking news that the largest energy group in the United Arab Emirates is taking a huge stake in Teesside’s future has been welcomed by Tees Valley Mayor Ben Houchen who says ‘the eyes of the world are on us’.
ADNOC will take a 25% stake in the design stage of bp’s blue hydrogen project, H2Teesside and Masdar – the Abu Dhabi renewable energy company – has also signed a memorandum of understanding to acquire a stake in bp’s proposed green hydrogen project, HyGreen Teesside.
Mr Houchen told BUSINESSiQ: “This welcome news demonstrates the huge pulling power our region has in the cleaner, safer and healthier industries in the future. That this is ADNOC and Masdar’s first ever UK investment shows just how important and innovative and world-leading bp’s hydrogen plans are, and they’re taking place right here on Teesside.
“These schemes are game-changers for our area, helping to decarbonise industry and drive our net zero ambitions. We’re seeing time and time again that these are creating a snowball effect, with one big investment prompting another, delivering good-quality, well-paid jobs for local people in the process.
“This announcement is the latest in a long line of global firms backing our region, coming after the likes of Sabic’s £850million investment to restart its hydrocarbon cracker, Alfanar’s £1billion sustainable aviation fuels project and SeAH’s ambitious plans to build the worlds-largest monopile manufacturing facility at Teesworks. We might be leading the UK in its low carbon ambitions – but it’s equally clear that the eyes of the world are on us.”
Bernard Looney, bp’s chief executive said: “By joining forces with ADNOC and Masdar we are reinforcing the world-leading role that Teesside, and the UK more widely, can play in developing new supplies of energy, as well as new skills and supply chains.
“We’re backing Britain and the resources, capability and net zero ambition here in the UK make it ideal for the development of low carbon hydrogen - and together we can help deliver a significant contribution to the UK’s newly increased hydrogen ambition.

The big question now is how much.
If they are looking for 10 billion in total as has been suggested I would expect at least £1 billion from BP .
If they can sweep up windfalls from the various companies which posters on here have identified as having had a windfall that might lower the BP bill.
Think it has to be clearly identified as a one off.
I do like the part that suggests you can invest to maybe have a lower windfall bill.
Suspect in part it is priced in as has been a topic for a while.
I would say that just now it is very easily affordable to BP and feel that the quicker it becomes fact the better.
Then BP can just forget about it and get on with running the business without this distraction.
Would like it to be based on end of financial year as that gives BP more time to spend cash on debt reduction before it becomes real.
I do feel that the market is no longer punishing BP and is slowly accepting that we are generating really big amounts of cash

One things for sure in the main the rich never really suffered financially during covid.
And they won’t again during this next crisis.
It’s the overstretched middle sector that will suffer, along with those who were already struggling.
The good old we are all in it together never has been more untrue

BP p.l.c. (the "Company") announces that on 24 May 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 9,000,000 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): 425.1500
Lowest price paid per Share (pence): 419.1500
Volume weighted average price paid per Share (pence): 422.3673

Hopefully we are building solid foundations for the next leg up
I’m hoping that will be when the div cash gets reinvested in about a month.
It would be nice if we went on another upward trend sooner, but if we could get to £4.50 about div reinvesting time it would be nice .
And just remember all those buybacks at these prices .
Thank you market for under valuation on sp.
Think currently there are a lot of shares I am glad I don’t have , and currently BP not giving much in the way of sleepless nights.

Helpful Hydrogen( part of a speech by Felipe Arbelaez, SVP hydrogen and CCS, BP

This is where hydrogen can help.

That’s green hydrogen, made from renewable energy.

And blue hydrogen, where the CO2 from gas is abated through carbon capture and storage.

As things stand, bp analysis shows that hydrogen could have around an 8% share in final energy consumption by 2050.

And it could be double this figure when we factor in additional hydrogen demand to generate electricity and produce fuels such as ammonia, methanol and synthetic jet fuel.
To put that into context, this would be roughly equivalent to the share of the global energy mix that natural gas has today.
And just five years from now, estimates show that the hydrogen industry could be worth in the region of $290 billion – around $100 billion more than in 2020.

I have read that the BP plan is to capture 10% of this market.
Not a insignificant number for a future revenue stream.

BP Plc is moving ahead with a plan to develop a clean hydrogen project with two of the UAE’s biggest energy firms as oil producers seek to develop alternative fuels that will help limit the emissions contributing to climate change.

Abu Dhabi National Oil Co. and BP are starting the design phase for a project planned at Teeside in the UK and will also study developing a similar facility in the United Arab Emirates, according to a statement. It would be Adnoc’s first investment in the UK, according to the statement from the Abu Dhabi government media office.

BP will also looking at working with Masdar, Abu Dhabi’s renewable energy developer, on another potential green hydrogen project at Teeside.

BP p.l.c. (the "Company") announces that on 23 May 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 9,000,000 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:
This was all cut and pasted into previous post.
But seems to have got lost???

Highest price paid per Share (pence): 428.5500
Lowest price paid per Share (pence): 422.8000
Volume weighted average price paid per Share (pence): 426.1400