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The market keeps pricing in low risk as the Middle East rules of engagement continues to be rewritten almost daily.

I’m expecting the unexpected.

The market so far doesn’t seem to be.

And yes so far oil flows are still uninterrupted.

But no one knows if this will continue

BP's Leadership Crossroads: Laidlaw's Legacy and the Energy Transition Dilemma

https://www.ainvest.com/news/bp-leadership-crossroads-laidlaw-legacy-energy-transition-dilemma-2506/

Clued

I think the only thing left circling are the goldfish.

If someone was coming .

Why the wait.

The price is only going to go up as BP become less bad.

Sam Laidlaw and former BHP chair Ken MacKenzie are among the names being discussed as a potential successor to the oil major's outgoing chair, Helge Lund, Sky News learns.

Sam Laidlaw, the former boss of Centrica, is among the candidates being considered as the next chairman of BP, Britain’s besieged oil and gas exploration giant.

Sky News has learnt that Mr Laidlaw is being considered by BP board members as a potential successor to Helge Lund, who announced in April that he would step down.

BP's chair search comes with the £62bn oil major in a state of crisis, as industry predators circle and the pace of its strategic transformation being interrogated by shareholders.

Elliott Management, the activist investor, snapped up a multibillion pound stake in BP earlier this year and is pushing its chief executive, Murray Auchincloss, to accelerate spending cuts and ditch a string of renewable energy commitments.

Mr Lund's departure will come after nearly a quarter of BP's shareholders opposed his re-election at its annual meeting in April - an unusually large protest given that his intention to step down had already been announced

announced.

BP's senior independent director - the Aviva chief executive Amanda Blanc - is said to be moving "at pace" to complete the recruitment process.

A number of prominent candidates are understood to be in discussions with headhunters advising BP on the search.

Unless they use any unexpected bonus cash to add to the debt reduction program

Https://www.bp.com/en/global/corporate/sustainability/our-approach-to-sustainability/tax-transparency.html

“ we will recover past 250 very soon”

Even if we don’t short term ,the extra cash will be very useful.

It just adds flexibility to what Hbr can do going forward.

Morning Jakers

Clearly despite everything you hear not everything is wrong with the company.

I would be a lot more concerned if everything BP touched went wrong.

Clearly we took a strategic wrong turn.

But when you get lost on a car journey, you always still get there.

I think the market had priced us a a bad company.

However I just believe we need time for the good things to start to come through to the bottom line.

It has however been a very long time waiting on BP sp to show a real historic rise.

Which really means those who bet against BP have also been right for a very long time.

But the sp is meant to look forward and our future looks like it may improve.

I hope in 18 months companies are wishing they had completed that takeover.

They may never get another chance.

Https://www.bp.com/en/global/corporate/news-and-insights/energy-in-focus/interview-with-svp-of-subsurface-ariel-flores.html

Crude oil inventories in the United States fell by 11.5 million barrels during the week ending June 13, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 420.9 million barrels, roughly 10% below the five-year average for this time of year.

For total motor gasoline, the EIA reported a smaller build of 200,000 barrels, with daily production climbing to 10.1 million barrels—up from 9.7 million the previous week. For middle distillates, inventories rose by 500,000 barrels, with production increasing to 5.0 million barrels daily. Distillate inventories remain 17% below the five-year average, sustaining supply tightness.

Total products supplied over the last four weeks averaged 20.0 million barrels per day, essentially flat compared to the same period last year. Gasoline demand averaged 9.0 million barrels per day, while distillate product supplied was 3.5 million barrels—down 4.2 percent year over year.

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell sharply, by 10.133 million barrels in the week ending June 13 after analysts had estimated a 600,000-barrel draw. The API reported a 337,000 barrel inventory decrease in the prior week.

Gasoline inventories also fell in the week ending June 13, by 202,000 barrels, after rising by 2.969 million barrels in the week prior. As of last week, gasoline inventories were 2% below the five-year average for this time of year

Distillate inventories were up this week, by 318,000 barrels. In the week prior, distillate inventories rose 3.712 million barrels. Distillate inventories were already a starting 17% below the five-year average as of the week ending June 6

Brent currently $77

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell sharply, by 10.133 million barrels in the week ending June 13 after analysts had estimated a 600,000-barrel draw. The API reported a 337,000 barrel inventory decrease in the prior week.

Gasoline inventories also fell in the week ending June 13, by 202,000 barrels, after rising by 2.969 million barrels in the week prior. As of last week, gasoline inventories were 2% below the five-year average for this time of year

Distillate inventories were up this week, by 318,000 barrels. In the week prior, distillate inventories rose 3.712 million barrels. Distillate inventories were already a starting 17% below the five-year average as of the week ending June 6

Brent currently $77

CAPE TOWN, June 17 (Reuters) - African energy explorer Rhino Resources and its partner Azule Energy will drill the new Volans-1X exploration well offshore Namibia in late July or early August, a company spokesperson said on Tuesday.

The Volans prospect is being investigated soon after Rhino Resources struck light oil in April at its second successful exploration well, Capricornus 1-X, that was drilled in the prolific Orange Basin off Namibia's coast.

"Testing Volans is a priority for a potential fast-track development option," a company spokesperson said, adding that its morphology could make it easier to exploit than Capricornus.

The Cape Town-headquartered company is the operator of Petroleum Exploration License 85 in partnership with Azule Energy, a BP and Eni joint venture, as well as national oil company Namcor and Korres Investments.

"If Volans-1X fails, options include appraising Sagittarius, drilling another prospect or returning to Capricornus," the spokesperson said.

I’m reading it as one of the dark fleet who don’t use the AIS system anyway,was hit by a tanker,who’s automated systems mainly rely on the AIS system to track other ships.

The tampering was stated as being a couple of days ago and not related to this incident.

But as always more details will appear.

It’s certainly less puzzling than the one off Norfolk a few months ago.

But easy to see as being related with all that’s going on.

But may be a coincidence related to where it happened and crew being extra vigilant for the wrong things.

Https://www.insurancejournal.com/news/international/2025/06/17/828095.htm

John Fredriksen’s Frontline has said all its seafarers are safe after a collision and subsequent fire involving one of its VLCCs off Fujairah on Tuesday morning.

The tanker company confirmed the ships involved were the 300,000-dwt crude carrier Front Eagle (built 2020) and the 165,000-dwt Adalynn (built 2002), which is managed by Oceanpack Ship Management of Dubai.

If you look at a ship tracking app

It’s still really busy,even with whats reported today

If the oil market feels It can just carry on as normal,with all this going on,

I think it might get a surprise or two.

Not expecting quite the same push for a cease fire when it’s Iran that’s getting hit.

Definitely not in US, and I think even within Israel they will see them as the real enemy.

So personally see it heating up rather than calming down.

A total of 93 oil and gas firms made it in the latest edition of the Forbes Global 2000 rankings of the world’s largest public companies.

Forbes’ Global 2000 ranks the largest public companies in the world using four metrics—sales, profits, assets, and market value, and all these have reached record highs this year.

All 2,000 companies on the 2025 Forbes Global 2000 list have a combined $52.9 trillion in annual revenue, $4.9 trillion in profit, $242.2 trillion in assets, and $91.3 trillion in market capitalization.

Forbes Global 2000 is led by America’s largest bank, JPMorgan, ranked number one for the third year in a row. Amazon, Microsoft, and Saudi state oil giant Aramco remain entrenched members of the top 10, according to Forbes, which calculated available financial data for the last 12 months as of April 25, 2025.

In this year’s ranking, Aramco is down one spot to number 4.

Actually, more than half of the 93 oil and gas companies on the list have ceded positions in Forbes Global 2000 this year, Forbes’ Christopher Helman notes.

Most of the oil and gas firms in the rankings have seen their revenues and profits decline over the past year as the drop in oil prices and weak refining margins hit the biggest firms.

Supermajor BP, for example, plunged 374 positions to no. 421 in this year’s rankings. U.S. refiners PBF Energy and HF Sinclair have also plummeted hundreds of positions in Forbes Global 2000.

Which non of you asked for, but your getting them anyway.

For the next 7 weeks or so until results day 5 th August the share price only matters if you are trying to buy or sell.

Otherwise it’s all about the oil price ,and free cash flow going through the roof.

The sp will catch up at some point,especially if the BOD target debt with their windfall.

Assets for sale will be more attractive to sell,and also to keep.

And just for the record not excited about the reasons for oil rising,but it’s been on the cards for nearly 20 months.