Member Info for meoryou

Theaky
I understand you lost money .
If you can’t actually debate just insult that’s been your style since your first attack on me.

Sigma
I agree there are no safe investments
I said they are the most safe they have ever been that’s something different.
At the price they are now with oil price over 100 dollars and a lot of risk taken out by safer working.
Also earnings no longer only working in high oil price environments.
BP are a much better company than before the debt is so much lower.
The stock market is a gamble.
Thanks for your opinion

Part 2
I know many are not happy because they bought BP thinking it was a safe investment.I too thought BP was a safe investment until 2010.
I am talking simply about being a safe investment not about if BP was a safe company.
The BP of the 90s has to downsize after the merger mania to make the merger pay.This became the way to make even more money.Then became the way BP worked.
Then the disasters occurred ,it is obvious now that money men had become gods in the company and profit was king and we thought we were safe but not like other companies which safety if king always
BP now is an amazingly different company from the one of the early 2000-2012.
The amount of risk BP has taken out is truly amazing.
It’s still a risky business and always will be , and the employees are empowered to fix it if it’s wrong.
Your investments in BP are the most safe they have ever been.
The questions aren’t about the greening or the-buybacks or Bernard.
They should be how do we get our money back.
The day Bernard answers that suddenly the moaners will stop

Just to make it plain , my last few comments were aimed at the idea that BP has suddenly from nowhere went green under Bernard.
It’s been ongoing for years and years.
There is no attempt either to blame Bob Dudley
I consider Bob to be the man who saved BP after the oil spill
He had a lot of very big decisions to make and did not get many of them wrong

30 July 2019 Forbes.com
BP Plc’s CEO plans to sell some oil projects and curb the development of others to align its business with the Paris accord, the latest sign climate concerns are starting to impact the investment decisions of the world’s largest fossil fuel producers.

Senior BP executives met within the last few days to discuss how to cut carbon as it grapples with a shareholder resolution requiring the company to explain how its spending is aligned with Paris, Chief Executive Officer Bob Dudley said on a Wednesday conference call organized by JPMorgan Chase & Co.

One proposal weighed up by BP’s management team was exiting the most carbon-intensive projects, though Dudley wouldn’t say which assets were targets because there are “governments and partners involved.”
So this was being discussed at board level long before Bernard took over.
Bernard can have the blame for not reinstating the full div, but it was very efficient use of spare cash at £2 sp , so there are many differing options on how good or bad that was.
Night all

Hi Theaky
Here’s another of Bobs green energy bits
Try the Ethanol in Brazil it happened on Bobs watch too.
There are loads more, it’s just your loss speaking that thinks it’s the green agenda that’s new
It’s the div rising that will fix the sp.
And as I have told you before I am not a greenie ,just a BP shareholder who accepts that burying your head in the sand doesn’t help

Zac
Our renewables are doing exactly the same as any new oilfield does .
They cost money in the early days ,then break even ,then eventually start to make money.
The only fields which make money faster are the in-fill fields ,which is exactly BPs
strategy at present.
Is it being realistic to ignore the effect of oil spill , covid ( and negative oil prices)
and a new war .
I would suggest they have all had more effect on BP sp than anything board did, including cutting div.
If they had not cut div an already deeply in debt company would have piled on more debt.
The problem is times have changed, strategy may also need to change , but to ignore facts like 70 billion dollars due to oil spill does not look realistic in my opinion.
any best wishes and we will just agree to differ

Theaky
BP bought it’s stake in BP Lightsource during Bobs watch
BP bought onshore find farms in America during Bobs watch.
It took me 30:seconds to find these 2 examples I know there are may more.
Was it Looney who took us Beyond Petroleum?
BP has always been an energy company.
Do you not remember BP Coal?
We also did pet food .
It’s not the green part that’s the problem covid stopped the cash flow the div was cut.
They chose to return the cash to shareholders using buybacks instead of increasing div as they could switch it off and on if times got bad again.
Times have changed maybe strategy needs to change.
But as I keep saying as long as green makes money what is the problem?

Zac maybe some of that 40% decline in sp would have to be directly related to
Approx 70 billion dollars the oil spill cost.
I will freely admit the buyback using the proceeds from the Russian deal in about 2012 ish was wasted trying to support a falling sp , but think it may have also had something to do with trying to maintain a credit rating due to debt levels.
Buybacks at £2 did make sense, the div question is something separate

Think the board are right to be cautious until they can establish that the new DIY trend is here to stay.
If they increase the div by 50% every year it won’t be long till it’s meaningful.
If they up div too fast and this is just a passing phase it would be very bad business

What if we take the last four posts together and think about them?
Could the reason the buybacks have been stopped is because BP are in the process of a meaningful disposal , swap or acquisition ( maybe Rosneft)
and cannot buyback due to inside knowledge.
It’s only a thought ,and has nothing to back it up .
But maybe just maybe?

Hi grandtom
I suggested on 3rd of March that a deal with Reliance appears to be a good way out of the Rosneft situation, so totally agree that it could suit both sides and result in something meaningful coming back to BP

Copied from Post by Enso on 10thMarch
I trawled through all of the share buyback RNS' since Feb 8th (I wanted to know what was going on too), and found that since then they have bought back 204,160,052 shares at an average price of 389.4669 or $1,048,064,555 worth. So should be around $500m left to buy before results in May (about 2 weeks worth at a push)

Flylogix leverages unmanned drones to measure methane offshore
Investment will spur crossover into renewables industry and entry to new geographies
Technology plays critical role in helping bp to reduce its operational methane emissions
bp ventures has made a £3 million equity investment in Flylogix – a pioneering unmanned aerial vehicle (UAV) business that uses drones to aid methane detection.
They plan to expand and use it in other regions for BP and others

Also remember current sp has had no support from buybacks for almost 3 weeks.
I expect them to restart sometime or else them to tell us what else the cash is going to be used for
Eg extra div , an acquisition, or more green projects in EU land to replace Russian gas and oil.
There are a lot of unknowns at the moment

I really don’t understand why some are making very heavy weather of finding div amount and ex div and payment date?
They are always easy to find on BPs own site and often even on this site.
It’s been a recurring theme this year , I know some of it has been aimed at another site which had wrong data.( always check the year)
I know someone will caught me out very soon getting it wrong cos that’s what happens
GLA

A fisherman whose red diesel bill has doubled has started filling his boat at a BP petrol station instead.

Chris Attenborough, a seventh-generation fisherman from Whitstable, Kent, says after reclaiming road duty and VAT it is now cheaper to buy normal diesel than using red diesel.

His fuel bill is now £170 a day – more than double what it was previously – meaning he has had to get inventive with re-fuelling.

He fills up with around 2,500 litres. After reclaiming taxes, that works out at 90p per litre. But red diesel is currently 140p so it would be £3,500.
Just in case you wondered a picture with the article shown a fair sized boat on the back of a lorry, but at least he got his name in the papers( and his picture).
Tax system not fit for purpose!

DHL Express has announced a huge step towards decarbonising aviation logistics and being more sustainable after confirming new strategic collaborations with bp and Neste, to provide more than 800 million litres of Sustainable Aviation Fuel (SAF) to DHL Express within the next five years, with the new agreements forming one of the largest SAF deals in aviation to date.

People see £7 as some truly impossible number , but what you don’t really see from the charts is that BP has split its shares into 2 shares 4 times.
If you do the maths your share from the first split is now 16 shares or would be worth £59.20
That’s a number to aspire to , but that was due to the merger mania.
And before anyone says it I am not suggesting we will get to anything even remotely near that number.
Just saying at one time a BP share of about £9 became the animal we know today which is 16 x 3.70= £59.20
Have a nice day

Not having a go but for future reference you will find it on the RNS page on this site , along with other useful information from time to time