Member Info for meoryou

Clean Planet Energy will process hard-to-recycle waste plastic into naphtha, a petrochemical feedstock that can be used in plastic production to support a circular supply chain. Clean Planet Energy will also be producing Ultra Low Sulphur Diesel
bp will receive the output of Clean Planet Energy’s first facility which is under construction in Teesside and the right to offtake from future plants globally
Clean Planet Energy's planned ecoPlant in Teesside
bp has signed a ten-year offtake agreement with Clean Planet Energy, a UK-based company that is developing facilities to convert hard-to-recycle waste plastics into circular petrochemical feedstocks and also into ultra-low sulphur diesel (ULSD). Clean Planet Energy designs and builds facilities — which they refer to as ecoPlants — that are expected to process plastics typically rejected by traditional recycling centres and so would otherwise be sent to landfill or incineration.
Under the new agreement bp will initially receive the output of Clean Planet Energy’s first facility, currently under construction in Teesside in the north-east of England. The Teesside facility is designed to have the capacity to process 20,000 tonnes a year of waste plastics into naphtha and ULSD. The naphtha can be utilised as feedstock into circular plastics value chains, which is aligned with bp’s aim of unlocking new sources of value through circularity, keeping products and materials in use for longer. Clean Planet Energy will provide bp with the opportunity to expand the relationship by offtaking products from its future plants beyond Teesside.
Should be no shortage of feedstock

I definitely think there will be some bargains in future as some companies get pounded.
It’s picking the right company and the right time that worry me.
Eg have been a BT shareholder off and on for many years and got back in at £3 something the week before the Italian fraud scare knocked £1 off sp and have averaged down and down and down.
So I am happy to stick with BP , and hope Russia ends up being most of demand destruction .
Really hoping energy is the safe haven and technology without profit gets rotated out of.

Below is some info on the plans to blend Hydrogen into natural gas pipeline
Thee Association, which represents the UK’s gas and electricity transmission and distribution licence holders, has today (13 January) published a delivery plan for scaling hydrogen blending across the UK. According to the plan, all five of Britain’s gas grid companies will be capable of completing the necessary pipe upgrades to deliver a 20% hydrogen blend from winter 2023-2024. Minimal upgrades will be required, the report concludes.
UK regulations limit the blend to a maximum of 0.1% hydrogen in public gas networks and 23% hydrogen in closed networks, and, to date, 20% blends have only been trialled. For example, Northern Gas Networks’ ‘HyDeploy’ project, delivered in partnership with Keele University, Cadent and Progressive Energy, saw a 20% hydrogen blend injected into an existing gas network. It was found that this had no impact on the gas users, paving the way for a public network trial featuring 670 homes and a school in Winlaton, Gateshead
There is also an article I read that says in a few years as wind energy increases at times of low demand there will,be to much energy.
That sounds like it fits perfectly to be used as interruptible. offpeak Hydrogen generation from electrolysis

I would also add BP is skilled in Cryogenics as one Refinery plant chill’s Hydrogen rich gas streams to condense out Hydrocarbon’s ( mainly Methane and Ethane)
To produce a 95% Hydrogen Rich gas Stream for process plant use.

Bp Investor
BP is already in the Hydrogen business.
It has been for many many years.
All the Refineries and some chemical plants use large quantities of Hydrogen usually but not always made on site.
Mostly up till now feedstock would be natural gas , but if they can switch to green Hydrogen that’s a big win in their CO2 footprint,although in short term more costly

Terra
There is already a pilot scheme by National Grid to put 20% of Hydrogen in to the natural gas pipeline.
Can’t remember where it is but it went live a while ago.
At that level they believe it is not a problem and a major co2 saving

We have got to hope that energy companies are the new safe havens .
Also that all demand destruction happens in Russia.
I don’t want oil or gas prices to go any higher ( or much lower ).
I still think 90-120 is a good price all can learn to live with at least for the next year or two.
Two year of these prices ,almost no debt and 10- 15% less shares .
Wow then what do you do with all that money.
Give it to us shareholders and watch the sp rise.
Even if oil price falls a bit after 2025 we will have lots of lower cost oil to produce and hopefully the renewables start to give a predictable revenue stream .

Transaction in Own Shares
BP p.l.c. (the "Company") announces that on 6 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 9,341,704 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:
Ave price 425.3

I thought there might have been a bit more activity on here over weekend after a good set of results and a good week for sp.
I tried to post earlier and it disappeared.
So just thought would post a quick upbeat message to see if working this time.
Not a lot of BP news but Hydrogen seems to be getting a lot of positive press at moment.
Will be nice when it’s a new revenue stream in a few years.
Hopefully some projects get fast tracked due to the European energy crisis.
I did not that new BP renewables was quoted by Bernard as having dropped a couple of renewables projects as she didn’t like the numbers enough. It’s good to see she is willing and able to make waves.

I have a feeling he had more than one account.
Just before he went on holiday there was another account he was communicating with and suddenly when he went on holiday they both went quiet.
The second account never started again.
But Mark did for a while.
May be wrong but I had a feeling he had both accounts, so possibly a 3rd one still going , but don’t know who.
Only you can tell Mark?

Sorry folks but my post was a nice table of figures until site formatting

I have been looking at buybacks(see below)
Date. Ave Price Paid. (p). Oil price dollars. Comments
29/04/21. 302.7 62. No brainier at this price
4/10/21. 342. 81. No brainier at this price
8/02/22. 409.7. 90. No brainier at this price
3/05/22. 400. 106. No brainier at this price
5/05/22. 417.25. 110. No brainer at this price
My question is a what price does buyback switch from being main strategy to being just a part of strategy ?
My thought is buybacks still make sense up to maybe £5.50 after which I would still like to see buybacks continue , but no longer at expense of div.
I think balance between div and buybacks should then change( assuming debt has been paid down) more to favour div, even if that means paying some amount of windfall tax just to stop the politics.
Any thought?

Have seen a similar tale on several other boards including Bt it’s seems to be a scam of some sort , but you do wonder how they get the information.

https://www.proactiveinvestors.co.uk/companies/news/981628/five-reasons-not-to-slap-bp-and-shell-with-a-windfall-tax-981628

So in a funny sort of way the less buybacks they can manage the better it is , as it’s due to sp rise.
It does mean if sp rise slows the buybacks will come riding to rescue.
The will also have pent up buybacks to do to get back on schedule.
It’s a great problem to have.
Maybe with these problems it’s time to do a little bit of buyback in US?

BP’s ‘underlying’ first-quarter profit of $6.2 billion, compared with $2.6 billion in the first quarter of 2021, was a direct reflection of the surge in global energy prices. Coming 48 hours before polling day, it also looked like a gift-wrapped on-time delivery for Sir Keir Starmer and his claim that a windfall tax on ‘excess’ profits of North Sea oil and gas extractors would knock £600 off the energy bills of ‘those who need it most’. Perhaps anticipating the BP announcement, Rishi Sunak last week seemed to trim his opposition to a windfall tax, telling Mumsnet ‘of course that’s something I would look at’ if energy companies fail to invest in the right sort of projects.

But it’s the ‘if’ that matters there. BP’s net result for the period was in fact a colossal loss, after taking $25 billion of charges from writing off its stake in the Russian oil giant Rosneft. And if world-leading companies are to transform their operations to provide cleaner, more secure fuel for the next generation, they need extraordinary resilience, capital and shareholder support to do so. To quote the Prime Minister, what they don’t need is ‘clobbering’ with opportunist one-off levies. Nothing has changed in the case against windfall taxes
There actually seems to be more items out there explaining what the windfalls really are.
Don’t think there was much a quarter ago
Maybe big oil getting better at PR

It is hard to keep up there is so much positive news on BP at the moment.
Long may it continue

Sek
There are 2 RNS announcements one for buybacks on 3rd and one for buybacks on 5th

The rules for buybacks are very strict
Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Citi and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares, the Market Abuse Regulation 596/2014 as it forms part of UK domestic law and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five business days before the purchase is made, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.
There’s more but that is the main bit

Steve Clayton, a fund manager at Hargreaves Lansdown who holds both BP and Shell across the HL Select UK Income fund, said: “We cannot support windfall taxes on companies going about their ordinary course of business.
“BP and Shell lost money, hand over fist, when energy prices were weak. A bumper year is not a windfall if it comes after or precedes a drought year.”
He added: “President Putin has engineered an extraordinary price environment and currently producers are reaping the benefit. But if Europe and the West are serious about displacing Russian energy permanently from their supply base, then investment levels will have to rise sharply.”
Another top 20 shareholder in BP added: “North Sea oil activity is so limited these days that a windfall UK tax wouldn’t have that much of an impact on the kind of results that BP have announced. It would just put them off any future investment.”
UK prime minister Boris Johnson has so far rejected calls for a windfall levy on oil and gas companies, telling ITV on 3 May that it would “discourage them from making investments we want to see, that in the end will keep prices lower for everybody”.
Clayton said: “It is always tempting for governments to consider taking money from an industry that is making high profits at any given moment. But it is rarely wise for them to do so.
“After all, for a productive economy, money must seek out the best possible returns. Take those opportunities away and less productive investments will be made and our growth potential reduced.”