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America has already taken BP to the cleaners once, so don’t think it would take much for them to think they are entitled to more BP money

As I have said it’s the wrong tax at the wrong time.
If they want to tax more change the tax system to take more tax.
One or 2 quarters don’t make a windfall.
It’s all about someone having money (BP) and others wanting what they think is their share.
However the only way the bandwagon will stop is if either we pay or stop making large profits.
I hope to continue making large profits, so only see one outcome it’s only when and how much.
I don’t like it , but by the number of times it’s raised here it can only be a hot topic.

A minister has suggested that the government could be moving toward imposing a windfall tax on energy firms.
Chief secretary to the Treasury, Simon Clarke, admitted in an interview with Sky News earlier today that the country faces “extraordinary circumstances”.
“We are certainly not ruling it [a one-off tax on energy firm profits] out. What I would say is obviously I am not ever instinctively drawn to increasing taxes insofar as it risks deterring investment in new capacity and new jobs.
“But look, these are extraordinary circumstances. We recognise there are extraordinary pressures on family finances and the industry needs to hear the message loud and clear: If investment doesn’t go in, we can’t rule out having to do a windfall tax,” he went on.
Research released by the Liberal Democrats earlier this month argues that a windfall tax on oil and gas companies would raise around £10.5 billion from the profits of BP and Shell alone this year.
By Politics.co.uk staff( today)
It’s not going away.
There’s too many stirring the pot to keep it in the news.
I don’t recognise the figured used as there is little chance of £10 billion being raised.
But I have less faith than some on here that this government will not change it mind( it’s something it has a history of).
If they keep telling the people that they can get £10 billion from BP and Shell why would they not believe it to be true?
We know different, but there is a definite agenda going on at the moment.

Warthog
You would think it would be ideal time for a “non of the above” type political party.
But I think even now if one appeared it would fail spectacularly.
Last time country was in as much of a mess in the late 70s the unions tried their best to take advantage.Think there is some of that going on again now.
Think some of the unions just look for a fight.
However I will say that the disconnect between the salary of the guy at the bottom and the boss at the top is all wrong .
The guy at the top should never be almost earning in millions what the guy or girl at the bottom earns in thousands.
They need each other.

BP p.l.c. (the "Company") announces that on 20 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 8,750,000 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): 424.7500
Lowest price paid per Share (pence): 415.500
Volume weighted average price paid per Share (pence): 420.6515

It must be a real positive that BP sp is still trending upwards despite what’s been going on in America with DOW and S&P, and I don’t mean just today
I have noticed since results day I am not nearly so fixated on BP sp.
I just seem to have settled down to feel that it’s finally being valued above £4

Think Americans just sneezed again DOW dropped

BP and SABIC have signed a new agreement with the aim of driving the circular economy at the Gelsenkirchen chemical complex in Germany.

Building on an established relationship between the two companies at the production site, the new collaboration will seek to increase the production of products that utilise used mixed plastics to make feedstock, thereby reducing the amount of fossil resources needed in the petrochemical plants at the site.

These polymers are part of SABIC’S TRUCIRCLE portfolio and are produced using advanced recycling to convert low-quality mixed and used plastic, otherwise destined for incineration or landfill, into pyrolysis oil.

Just curious but if we made a charitable donation of say 0.5 billion to an energy fund would it be tax deductible?
Just wondered if there were any positives from volunteering instead of being taxed.
Let’s just hope we keep making enough profits that the Windfall tax still gets discussed

BP p.l.c. (the "Company") announces that on 19 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): 424.75
Lowest price paid per Share (pence): 409.4500
Volume weighted average price paid per Share (pence): 414.0457

Totally agree there are a lot of people with agenda’s and BP are stuck in the middle

Spights
I a not really in favour of the Windfall tax either.
I think it’s the wrong tax at the wrong time.
And means you are relying on government making a better job on spending the energy money , than an energy company.
It’s governments that have got us in this mess.
But as I have said it’s not going away.
The media and non governing parties see it as a good cause to be fighting for the poorer people.
However if we don’t pay anything and BP sells their stake in Rosneft watch it all go mental.
I would like a one off agreement that targets all ( especially Tech),is based on UK profits and had agreement of all political parties that Windfall tax is then off table for good.If they want to tax profits make the current system cover it.
Then BP can get on with running an Energy company without this distraction.
And if BP do sell Rosneft they can use proceeds as they wish including a special div if they think it best without becoming a political football.

Theaky,Spights
It is not going to go away.
The media will keep it fresh.
Can see an argument for a one off based on UK profits.
But looking at all larger companies especially Tech.
But it has to be a one off , and then profit for future fully covered by whatever tax system Government has in place.
If it’s wrong they should change it not just go after low hanging fruit.

BP PLC ADR BP, -1.18% shed 1.18% to $31.11 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index COMP, -4.73% falling 4.73% to 11,418.15 and Dow Jones Industrial Average DJIA, -3.57% falling 3.57% to 31,490.07. The ADR's fall snapped a three-day winning streak. BP PLC ADR closed $3.05 below its 52-week high ($34.16), which the company achieved on February 11th.
So BP not having it quite as rough as some.
Hopefully Buybacks tomorrow can cancel out the carnage in America.
You can never tell how temporary the Dow fall will be , and who it will affect.
Silver lining if sp does fall again more shares to buyback for less cash.

Thanks Enso
Have had a play with the graph.
I have always believed the narrative that Shell was doing so much better as I don’t follow Shell.
Now I’m seeing a different picture.
Maybe when I have more time I will look at the American Oilers too to see if the narrative for them is true.
Think this debate will continue

BP p.l.c. (the "Company") announces that on 18 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 9,900,000 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): 430.800
Lowest price paid per Share (pence): 421.900
Volume weighted average price paid per Share (pence): 428.0538

An electric charging hub, which it is claimed will be one of the largest in Europe, has been given planning approval at the NEC in the West Midlands.
The charging hub will contain Alpitronic ultra-fast 300KW DC chargers capable of charging 32 EVs at any one time. Maximising the locational benefits of the NEC Campus, the hub will be accessed via a new entrance just off junction 6 of the M42 and close to the M6 and Birmingham airport.
To meet increasing demand, an existing car park will accommodate the hub’s remaining 150 bays for 7KW charging, to be used by NEC Birmingham customers during their time at the venue.
Plans for the hub also include construction of an adjacent drive-thru coffee shop operated by a national chain to cater for visitors while they wait for their vehicles to charge. This will provide indoor seating and an additional 26 standard parking bays for other patrons.
The hub is scheduled to go live from autumn 2022, and will also open up the opportunity for the NEC Campus to electrify its operational vehicles.
The NEC Group has partnered with The EV Network, which will develop the project, and BP Pulse will be the charge point operator for the hub.
This project follows the agreement signed in 2021 between The EV Network, its investment partner Zood Infrastructure and BP Pulse, which aims to significantly expand the provision of convenient ultra-fast EV charging infrastructure across the country.

My take would be that Shel have made a better job of the PR.
BP worried people with their target to reduce crude production.
BP had a bigger hit from Russia.
Think BP div still taken more hit than Shel ( as far a I can remember).
BP have a fair bit of catch up to do so probably have more potential .
It really remains to be seen probably by 2030 which has really evolved best for the future.
I think they both are heading in the right direction, it’s which gets it right best.

It’s nice to see £4.30
I’m not getting excited yet but another 10 days like today would have you hitting £5 .
Not a prediction just simple maths.
It’s a long time since it’s felt even slightly possible to do something like that.
I would be very happy with £4.50 by month end and then just some base building before we head for next big milestone.

I see WTI crude is now more expensive than Brent.
That used to be the norm.
Think this means American crude market has returned to function as it did before Fracking glut of crude.
Means all our American crudes are worth more.