Member Info for meoryou

Think they also benefited from being first mover,rather than having to do cos all their mates had already left.
Think at some time in future they will get something for their Rosneft shares

Not sure what refinery process for crude is difficult to restart.
Could cost a couple of million to shutdown and restart each unit
but it happens all the time.
Crude only goes through a crude unit normally( from tankage)
Unless Shell have some fancy process

I would say at current prices it’s a very efficient use of cash.
The problem is some on here bought at £5 plus, and before div was halved.
For them this it the wrong path as they want div reinstated and share price to rise so their investments are back positive.
I just see it as the part of the cycle where div is low and at some time it will start to go up meaningfully.
Till then buybacks at this price make sense

The BOD view is that a share buyback is a return of capital to shareholders.
Lots of shareholders agree and possibly even more disagree and would prefer to get the div and make their own mind up what to do with the money.
Think those with a long term investment view can see that the future is. Golden.
With the amount of cash coming in maybe the can do a bit of both div increase and buyback,but buyback price will rise( so not pleasing some)
Will never please everyone.

Jakers as an ex employee it’s the employees who are delivering project after project early and under budget.
With no major safety issues in many cases either.
I personally believe they deserve their share scheme rewards.
The director scheme,there is an argument that it’s the oil price that they have no control over that is driving earnings so maybe the do not totally deserve,but they have set a culture where employees can do their thing ,unlike in previous cycles where it was all about cost saving and budget pressures all the time.
Think now there is enough cash to start to properly reward shareholders with at least the promise of a rising div

Jakers
I think the problem is the BOD have taken a very long term view.
The promise is jam tomorrow,and there is nothing just now for those who bought in at £5 for the yield
These people have now lost on share price and are getting a crap yield

It often seems to spike in Far East overnight,then calm down a bit when Europe opens.
I would have thought that Europe would have been the one driving it higher as they look for alternatives to Russian oil and gas.
Oil price now about 50% up since results day 8th Feb.
Market definitely not rewarding new financials for BP.
If they keep ignoring the numbers and let BP fly under the radar,it gives BP a golden opportunity to use the cash to reset the financial landscape of the company (lot less shares to pay div on and debt down to very low levels).
Not sure about buying up any small oil companies at these prices,but might be the time using cash from high oil to do a transformation buy in renewables ( I know that’s not everyone’s cup of tea,but maybe better value there at present?)

To true although UK sometimes
Think the French are better than most.
It was always their version of EU rules,while sometimes think we obeyed the letter of an EU law even if the only country doing it was UK

It’s good to see we are all united together,but the French are always me first

I have been playing with the buyback figures and how they affect div costs
Since August last year saving per year on div is approx£150M due to buybacks
Since beginning of this year saving on div is over £40M for a whole year of div’s
If we keep up the rate of buybacks for rest of year this years saving would be close to £0.25 Billion
These figures are rough and don’t include any dilution due to shares issued.
But buybacks and debt payback is cutting cost of running BP.
Ps hope I got my sums right

Thanks Baz
It’s amazing how what would have been an innocent sentence 2 weeks ago now had a very negative double meaning.
As you say couple of years and it will be history.
Or to use that well known phrase.
This time next year we’ll be millionaires

Although high oil prices will certainly create even more inflation ,the other side of it is that it will rein in discretionary spending as more is spent on fuel.
This along with the fallout from the invasion of Ukraine may mean that this interest rate cycle is not as steep as expected.
Demand destruction will be very difficult to predict and only visible with hindsight after it has happened.
We all know that there is a price at the pump which suddenly feels very expensive ( suspect £2 per litre would be there ,but maybe somewhere below that)

Thanks
It’s really terrible times,and I am aware that some on here maybe have people over there, so thought maybe too near to home.
There are some people who find their place in a catastrophe like this in a positive way and some in a negative ,we all hope we are not the negative.

Affmaead
I agree with all you said.
Just felt in these dark times it sometimes helps to laugh.
I found it mildly amusing that’s why I shared.
If it offended I apologise

Just found this on Newsbiscuit the in fake news page
Supposed to be from BP

'Of course we were disappointed to have to divest our interest in Rosneft,' said a BP spokesman, 'but then we realised that Molotov ****tails were becoming very popular in the region,' he added.

BP has recommended that insurgents use BP Ultimate Unleaded Fuel in the ****tails as it 'burns cleaner, more efficiently and is lead-free, which the alternative hand-held weapons certainly are not,' he said. Ukrainian freedom fighters welcomed the suggestion, but still insisted on using supermarket fuel, 'like nearly everyone else in the world,' adding, 'only pricks and dictators believe that Ultimate bull****.'
Hope we can still laugh,but realise in Ukraine it’s no laughing matter

Just to took a look at current yield for NG it’s only 4.5% it was over 6 % when I bought in.
If it’s currently valued correctly maybe a bit of a div hike expected?

NG has done well for me since bought in last year.
It’s the only defensive stock I have which has kept going up,div is good to.
Thought a couple of times it was too high and took some off the table,but so far it keeps going up.Don’t know if here is a good entry point or not.
Just my experience,and I really don’t understand the stock market at the moment,as really can’t see the risk to some of the stocks going down eg Bt

Charlie
I was doing some calculations last night and that’s over 200 million shares cancelled since results day (8th Feb) that saves by my calculation £34,000,000 per year in div payments.Numbers like that are very significant.
I did wonder myself if with all the money from high oil price if we might see extra buyback, if we could keep up a rate like that for a whole year wow would that change cost of div going forward.

Yes that’s the whole world except people who are shareholders in major oil companies

Enso
Once again cannot disagree with anything you said.
It’s an interesting debate.
Since I have been invested since approx 1980 both strategies work for me.
I am personally too heavy into BP as some were matched shares in employee share scheme .
But have only allowed that to stay like that as believe in the story going forward.