Member Info for meoryou

Think it all comes down to your entry point .
For those who bought at £2 they are getting about 8% so their div is ok.
Now that buyback has stopped think possibly anyone selling soon may regret if it turns out that buyback is not just paused , but turns out to be a strategy change.
I personally would wait till there is more info ,but each to their own.
If ( big if ) buyback stops and div did increase meaningfully sp must rise significantly.
Just an opinion and things could be very different eg oil price could fall below 100 dollars and selling now might just be right.

Think I got that wrong read as 28.5% owned by BP ,but it refers to Olympus being 28.5% owned by BP not the new field

Shell PLC - London-based oil major - Subsidiary Shell Offshore Inc starts production at subsea development PowerNap, located in the US Gulf of Mexico. Estimates peak of PowerNap at 20,000 barrels of oil equivalent per day.

Notes PowerNap is a tie-back to the Shell-operated Olympus production hub in the "prolific" Mars Corridor. Shell operates Olympus with a 71.5% working interest, with London-listed peer BP PLC controlling the remaining 28.5%.

Hi Spights
Was just about to post the same , and just checked first to see you had just beat me too it.
It looks like an extra revenue stream ,with quite a bit of potential.
Don’t think Uber Eats would do it if didn’t think they could make money

Morning Bumble
and that 30 dollars premium is actually close to 50% above the 75 dollars good price , and mainly profit.
Hopefully peace happens rapidly , although unfortunately not expecting it to happen quickly they usually take their time.
Then a least we can start to understand more looking forward.

There doesn’t seem to be much news about at the moment.
I did note BP is looking for Hydrogen people for Hull and Germany , so it looks like they are starting to get the ball rolling there.
Think if it goes to plan this could be big.
Think once you get started your customers are stuck on the end of your pipeline.
Think the area to really get up and running first will have first mover advantage, unless a cheaper technology comes along ,in which case it might be a bit like being stuck with your video tapes.
Time will tell.
I nearly posted something similar about an hour ago, and went to post and my internet died.
Obviously the first attempt was more informative, and a lot funnier ,but you are stuck with this version.
Maybe tomorrow will be a good news day

Hi Kelso
Sp was no where near £5 before Rosneft write off , but in a weird way when something happens to give value back to the Rosneft stake, either a disposal or back to business as usual, we should see the value come back to the sp .
Don’t know if there are any long term advantages to the stake being wrote off in next set of accounts.
I am nearly 100% sure we will not just loose the Rosneft stake ,there will be a creative solution
.I have suggested Reliance of India as a perfect solution as they can do us a favour by talking the stake and we can do them a favour elsewhere.India still sitting on fence regards invasion.
Time will tell , but currently think things are again in general all going BPs way

It was from one of the books on the history of Shell.
Can’t actually remember the time period but can guarantee it was a long time ago , when shares were only for those that have .
Tried to google it but got nowhere.
Recommend to all reading the history of Shell, BP or the oil industry .
It’s amazing how often it was the final throw of the dice that won big time .

I remember reading stories (it was of Shell but BP at the time would be similar) ,
and a div of 40% was looked on as a bad year.
When I joined BP in the late 80’s they made money by accident because they were in the oil industry.
Staffing levels were very very high and if you went in to the workshop with a home job the real work often stopped till your job was done .
I remember asking our driver if he could check if the stores had a big bolt I needed for a home job.He turned up nearly 2 hrs later having checked everywhere.( and he wasn’t my driver about 30 of us had him).
When there was a big shutdown of a unit even the gardener got overtime.
There was no way it could last.
Those who bought a large shareholding at £2 and can stick around for years must be looking at one hell of a return a few years from now

Hi Bumble it would be nice to be in the know about it , but think if I knew I would just blab .
If it is real there is real money there to make , but it’s really just another way of gambling.
My plan now is to reinvest div plus a wee bit more in ISA after new tax year starts,
Was going to try and time market last week , but it makes more sense to wait and do it in ISA

Energy supermajor BP has been awarded the Agung l and Agung ll oil and gas exploration blocks offshore Indonesia.

BP said that the government of Indonesia put the two blocks on as a Direct Offer tender as part of the second round of 2021 Oil and Gas Working Area Bid Round.

The Agung I Block covers an area of 2,570 square miles deepwater offshore Bali and East Java, while the Agung II Block is in deepwater offshore of South Sulawesi, West Nusa Tenggara, and East Java covering an area of 3,080 square miles. The area is underexplored with significant potential of gas resources close to the region with growing gas demand.

The company added that the Government of Indonesia’s decision to award 100 percent interest of the two blocks to BP demonstrated its position as a trusted partner of Indonesia, where the supermajor is continuing to grow its presence and commitment.
Think someone posted something on this before, but thought I would make sure as it’s a massive area they have been granted.

Hi Bumble it was me that posed the question of insider knowledge as a possible reason why buybacks stopped.
It would have to be a big deal ,or knowledge that div was going to increase by a large amount , that could leave them open to that charge.
But it was just a suggestion based on no knowledge.

I’m not a Chartist, but looking at the one month chart , it really looks like this time it wants to get there.
It would be nice if this time it could also consolidate above £2 and stay there

Well at least we closed up £3.89.2 ( although google giving £3.90 in last couple of mins)
I really an not a Chartist, but the one month chart does look like we are setting up for something (positive ).
Was also having a look at oil charts to see if we could see anything suggesting where a good floor price would be , nothing showed up to me , but felt 90 dollars looked very safe , and hopefully something a bit higher.
Personally would be far happier if oil price does not go much higher .
It can camp at 110-125 and not cause too much demand destruction, at the same time giving BP a nice headache of where to spend the cash.
I think with buybacks we would have burst through £4 this week , and there is still tomorrow.
They used to say small steps with pause’s built better foundations, than bursting through in at 15-20 p step , then not staying long enough to consolidate.
This time we want to get to £4 and stay there.

Hi Jakers
Have to say that despite everything of the last few weeks we are back in an upward path.
Hope it’s not just a rally to sucker in div re investors .
The fact it’s without the buybacks is very good .
The only real worry would be oil prices and can’t see them suddenly dropping below 100 .
Way further down line maybe year end start of recession, but looking very sunny for BP right now
Still await with interest some statement on why buybacks stopped

Hi Spights getting sunnier here in central Scotland.
But all I see is sunshine.
Had covid for a week and finally neg test YES!

Morning Spights
Looking hopeful I think
We will know soon

Theaky
Can I say that’s a nice very sneaky idea , it does let them of the leash.
It does depend really on their plan but the timing would work for many on here.

Invstrat
A very good summary
Bernard and public relations don’t seem to go well.
Cash cow being a good example.
His salary etc puts him up as a target.
I think Bob new “ That times they are a changin”
And he wanted to leave his legacy and let someone else do the changin

Sigma in reading back my post I note I did kind of say I thought BP was a safe investment.
I will qualify that by saying at the time I believed BP was safe ie I never thought one event would nearly kill the company
Also my shares had cost less than £2 ( maybe even less than £1) and had share split 3 times making each share now 8 shares of value over £5 .
So it did seem very safe.
I learned exactly what you say nothing is truly safe.
Thanks again for your comment