Member Info for meoryou

Reasons to be Grumpy

I’m a shareholder of Hbr.

I bought above current sp.

Oil Price

UK government.

UK politics

EPL

Hopefully the guy from Shell,keeps them from doing anything stupid.

Selling 10% to the Canadian Pension Plan for $1 billion,works for me.

and maybe a bit more of Castrol India.

With other divestments already done,it’s time to sit back.

Not time for a fire sale

Whoops apparently we still need oil refineries.

UK has been trying to go all California, for a while.

Now California backtracks

Https://oilprice.com/Latest-Energy-News/World-News/California-Governor-Steps-In-to-Save-Valero-Refinery-To-Avoid-Fuel-Shock.html

Https://www.ainvest.com/news/bp-strategic-resilience-azerbaijan-oil-quality-concerns-deep-dive-operational-innovation-long-term-investment-potential-2507/

5 th August results probably sets the tone for the next 3 months.

Imagine if investors actually like them,and then reinvest dividends on 19 th September.

It would be the first real sign that the mood had changed in the market.

But unfortunately it has to play out like that,and there are no guarantees.

In 1976 there were 17 refineries in the UK

In 2000 there were 12 refineries left

In 2019 there were 6 major refineries and one small one left.

Now we have lost 2 refineries this year.

We simply must be importing petrol and diesel,to supply transport in UK

(All figures from Wikipedia)

Https://www.thisismoney.co.uk/money/comment/article-14926355/Manifold-problems-BP-New-boss-restore-confidence-board-level-investors-says-MAGGIE-PAGANO.html

Lending

My main concern was the market wanted us to show focus on oil,by getting in an oil person.

I was hoping for an appointment that the markets endorsed with at least a 20 p rise in sp.

Hoping he does a great job.

Some of the best just get on with it behind the scenes.

I would hope he will make a significant purchase of BP shares just to prove he is here for the shareholders

At least 20,000 shares, although not possibly all at the same time.

Https://financialpost.com/pmn/business-pmn/elliott-calls-on-bps-new-chair-to-urgently-fix-shortcomings

Invstrat

“Yanks always have a soft spot for the Irish (+ )and didn’t Trump’s mother’s side hail from that airt too - so that’s another plus (++).”

Think you will find he claims his mother is Scottish.

Scots have mixed feelings on this.

Agreed Spights he deserves a chance,and has a good track record.

Personally was hoping for an oil man,who the market fully supported.

Maybe the US will be happier and move sp.

At least so far sp reaction is not negative

Hi Jakers

I to share those concerns.

The market is taking its time to decide.

But CEO accounts background

Recent board addition Simon Hendry Accounts and oil background

Mr Manifold is a certified public accountant, a chartered accountant, and holds a Master of Business Administration and a Master in Business Studies

I hope we don’t end up too focused on only cost cutting.

That is a dangerous road to follow,as BP know.

Hopefully It’s the right decision.

I’m guessing we just sold something valued by the market within BP as about $1billion for about $2 billion.

After last week selling Ditch service stations for probably double what the market values it within BP.

Next will be part of Lightsource BP,

Followed by Castrol

After that BP will be a simpler company with hopefully less debt,more oil and gas,and the sp will slowly be dragged upwards.

Possibly the reasons for the drop this afternoon include Chevron completing Hess merger ,and oil price giving up gains.

BP is getting slowly better,but it’s not really fed through to the sp yet.

Not BP but

The International Chamber of Commerce ruled in Chevron’s favor in a dispute with Exxon over Hess’ Guyana oil assets.

Chevron’s victory clears the way for its $53 billion acquisition of Hess to close.

The dispute had created significant uncertainty for Chevron, weighing on its stock performance.

Serves Exxon right for trying to be a bully

Https://oilprice.com/Energy/Oil-Prices/Why-Oil-Prices-Could-See-a-Significant-Upside-Shift.html

Morning Spights.

A good way to start the morning,with a sale of something we had even forgot was up for sale.

Clearway Energy Inc.'s market capitalization (market cap) is approximately $6.42 billion USD. This figure represents the total market value of all outstanding shares of the company .

According to BP, its US division has a combined generating capacity of 1.7 gigawatts. It includes 10 grid-connected wind power assets across seven US states, nine of which are operated by BP.

As of Friday, the division supplies 15 off-takers. It will be absorbed into LS Power subsidiary Clearlight Energy, increasing capacity of Clearlight's fleet to about 4.3 gigawatts.

So they are buying more than 50% of what they currently produce.

Really not suggesting that therefore the BP sale is worth about half their market cap,as there will be more to their business than just the gigawatts,but there does seem some logic there.

So $2 billion does seem possible .

WP

At the time of deciding to list the business a number of $2 billion was floated around.

Don’t think it came from BP,but it was certainly mentioned in numerous reports.

Something near that would be nice.