Member Info for meoryou

Getagrip

Sounds like we really could do with you on the board,at least till they stop sleep walking and get a new focus and direction

So the obvious question becomes.

What should be our direction of travel?

I would like before the new strategy is decided.

Every part of BP to be rated by an independent.

To show real return on capital,current profit/ loss,expenditure needed.( and anything else).( and tell the shareholders)

Then new balance between debt, div, then buybacks.( in that order).

Finally maybe/maybe not we should be allowed to vote on the new strategy.

I really would like to hear other thoughts.

Claire

With the fact that Murray and Kate have accounting backgrounds,hopefully the one thing the can definitely do is look at cash flow, and whether selling something for cash and less debt will balance positively against less cash.

So hopefully we are unlocking value

The thing on debt I took from earnings call ( from memory) was

Kate said they missed the quarter by 3 days for a disposal,so debt should drop next quarter?

Apache to end all operations in North Sea by 2029.

Bought the Forties fields in 2003.

Blames impact of windfall tax.

Another one goes!

BP definitely has an image problem.

In the days of Looney,there were the statements like BP is a cash cow.

Which certainly encouraged the politicians to up taxes.

Murray still has not swept away the Looney parts nor actually owned and showed what he stand for.

The strategy is poorly understood.

The original plan was to throw money at a lot of things and see what worked.

Sometimes undoubtedly they threw too much money at some things .

Some parts have been a success ,but it’s hard to know which parts.

The time is right now for the bold new strategy,whatever it is.

Hi Mark

I think Trumps relationship with Saudia Arabia will be very important.

Will they listen to him telling them what he wants, ( or be like with Biden).

Markets keep thinking they can ignore what OPEC say, but I think they have been very relevant this last year.

And just when will peak fracking become a fact ( in rear view mirror)

Auson

Today the rumours on the internet, were just a bit strange.

I found a headline behind a pay wall.

I copied the headline into google,and totally separate rumour appeared,this then led to a third different rumour.

Normally searching you repeat the same rumour.

I’m sure you are right and it’s leading on from the comments on the earning call

Jakers

BP Lightsource model has always been to flip the odd project when completed.

BP right from day one said on buying the remaining part of Lightsource BP that at some point they would hive off part.

They have since taking ownership hived off at least one perhaps 2 projects.

If the took that cash to the BP balance sheet instead of the BP Lightsource balance sheet.

Then put a little more debt onto BP Lightsource,prior to hiving off part,then it could be a winner.

I believe the could sell off 5% parcels to

Pension Fund

Green Funds

Possibly even Google and Amazon, to lock in their electric prices..

It’s all just guesswork on my part,but they really do appear to have a plan for this part

There are rumours that BP will sell either half BP Lightsource ,or half its Australian Renewables or even half its renewable arm.

With that kind of spread of rumours something is on the go,but probably none of the above

Used to get stuff like this monthly when I worked for BP.

Obviously the internet has replaced this now and I think it’s no longer produced.

So this is an old one

https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/news-and-insights/bp-magazine/print-archive/bp-magazine-2013-issue-4.pdf

India’s captive industrial power consumption could be replaced with renewable energy, unlocking potential for further investments in the sector, said Dhanpal Jhaveri, chief executive at Eversource, a green energy investment platform. “The industrial captive power consumption is around 90 gigawatts and it’s all fossil fuels. That explains the potential,” Jhaveri told ET.

Eversource is a partnership between Singapore-based private equity firm Everstone and Lightsource BP, a related undertaking of British energy giant BP.

https://economictimes.indiatimes.com/industry/renewables/green-energy-may-power-industries-in-house-demand-eversource-ceo-dhanpal-jhaveri/articleshow/111614660.cms?from=mdr

https://www.msn.com/en-in/money/markets/green-energy-may-power-industries-in-house-demand-eversource-ceo-dhanpal-jhaveri/ar-BB1pGSpP?ocid=finance-verthp-feeds

Https://www.bp.com/en/global/corporate/energy-economics/energy-outlook/country-and-regional-insights/india-insights.html

With its many investments in India, bp is one of the largest international energy companies in India. In addition to its gas value chain alliance with Reliance Industries Ltd., bp’s activities include Castrol lubricants; oil and gas trading; clean energy projects through its investment in Lightsource bp; IT and procurement back office activities; staffing and training for bp’s global marine fleet; and the recruitment of skilled Indian employees for its global businesses. bp’s recent retail joint venture with RIL, ‘Jio bp’ signals a paradigm shift in fuels marketing and mobility solutions. It will incorporate and build on RIL’s current fuel retailing network of 1,400 sites and 30 aviation fuel stations across India to up to 5,500 retail sites and 45 aviation fuel stations over the next five years. Castrol lubricants will also be available across the venture’s network.

Our business footprint and our growth plans for India are aligned to its energy and climate needs. bp aims to create more energy prosperity in the country. For example, read how Lightsource bp is now producing solar energy capable of powering 60,000 homes in Maharashtra.

Nader Zaki, BP's Regional President for the Middle East and North Africa, and Moataz Atef, Undersecretary of the Ministry for the Technical Office also attended the meeting.

The meeting also tackled continuing seismic survey activities for exploration in its new concession areas, increasing operations in the Atoll field in the North Damietta Offshore Concession Area.

The meeting reviewed BP's work program in Egypt during the coming period, which aims to accelerate the pace of exploration, production and field development in its operating areas in the Mediterranean Sea to increase production rates.

Badawi vowed providing all forms of support for the company's plans to increase production. He also called on the company to accelerate research and exploration operations to increase reserves for the benefit of both sides.

The incentive measures that the petroleum sector is implementing to encourage investments by international companies, increase production, and overcome challenges in this field were also reviewed.

Badawi pointed to the new mechanisms that the ministry has begun to implement regarding the payment of partners' dues, including maintaining regular fixed payments to ensure the continuity and sustainability of payment, in parallel with working to promote new and attractive investment opportunities in the oil and gas exploration and research sector.

For his part, BP Vice President William Lynn emphasized the company's commitment to the agreed-upon plans on increasing natural gas production from its concession areas in the Mediterranean Sea and drilling wells.

BP is also committed to implementing new exploration programs, Lynn said, explaining that BP's interest in investing in Egypt reflects confidence in the petroleum sector and the extended partnership between the two sides.

The meeting also discussed the position of establishing a new joint company between BP and ADNOC to invest in natural gas exploration and research in Egypt in the Mediterranean region.

Charlie maybe Poland fits the model.

Cheap land,low costs,big population 36 million plus.

I guessed Spain, as can see Solar and EVs

Bp is to divest all 310 of its service stations in the Netherlands, as reported by Reuters.( and 25 charging stations)

The news agency talked to a spokesperson of the British oil and gas company, who shared that the decision comes in response to high investment costs required for growth in the relatively small Dutch market. The news also supports a recent report by Dutch newspaper AD.

While the company has not disclosed any specific price expectations for the sale, the move reflects a strategic shift in its operational focus. In comparison, rival Shell recently paid €12.3 million for a 15-year lease on a prime service station location along the A2 highway, which connects Amsterdam and Utrecht.

bp would complete the sale of its Dutch stations by the end of 2025, marking a significant change in its presence in the Netherlands as the company seeks to realign its resources and focus on other markets.

They say they are concentrating on US, China, UK and Germany.

For EV and convenience.

I’m assuming that they don’t have a strong convenience partner in Netherlands.

So it’s a hard market to be stron in.

They have also said they want to be strong player in the markets they stay in.

Again I assume that it would take a lot of cash to get anywhere near that in the Netherlands.

Turkey again was seen as not worth keeping.

I’m of the camp, they have the data, and should know what markets are worth remaining in.

Think Spain will stay.

Just my view and I welcome further comments

Many people and not just on here, think at this share price there is a huge amount of value to be unlocked from BP.

The market does not agree currently.

Many people again think that if the board don’t act someone else will.

Again the market currently does not suggest that is expected.

Finally all appear to agree that same old same old is not an option.

This time the market does appear to agree.

Oil companies are beginning to evacuate personnel ahead of Tropic Storm Rafael as Gulf energy operators hunker down for yet another high-seas spectacle.

BP, Chevron, Equinor, and Shell have been down this road before, ushering non-essential personnel out of harm’s way while keeping production humming—for now. BP started shuffling personnel off platforms like Argos, Thunder Horse, and Mad Dog. Chevron, too, followed suit, relocating folks from platforms including Big Foot and Petronius.

Meanwhile, Shell has taken preemptive measures, moving workers from Appomattox, Vito, and Enchilada-Salsa. Equinor, playing it safe, shut down production entirely with a full evacuation on the docket.

It’s from July this year, but it’s very though provoking.

The trend is very much less refineries in Europe.

Which leads to less crude being consumed in Europe.

Something similar happening in California also.

Don’t think it’s the end of oil as Asia and Middle East has been building monster modern refineries

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/071824-europes-refining-sector-braces-for-major-downsizing-as-margins-stall