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Lightsource bp, the wholly-owned unit of BP Plc (LON:BP), has secured a structured equity investment from climate solutions investor HASI (NYSE:HASI) backing a 288-MW solar project portfolio in Texas.

The British solar developer said on Wednesday that the transaction is tied to two utility-scale schemes, namely the 163-MW Starr Solar project in Starr County and the 125-MW Second Division scheme in Brazoria County. The two photovoltaic (PV) parks will be able to generate enough electricity to cover the consumption of more than 50,000 homes annually, once in operation.

Both projects are backed by long-term power purchase agreements (PPAs) with corporate off-takers, among which is Swedish fashion chain H&M Group, and are expected to kick off commercial operations by end-2024. They will be equipped with PV panels from Arizona-based First Solar and trackers made by Array Technologies.

The two PV farms will join Lightsource bp’s 576-MW operational fleet in Texas. Each of them qualifies for domestic content and energy community benefits made available by the Inflation Reduction Act.

Jakers

The last time I mentioned a head and shoulders here.

The technical analysis turned towards Dandruff.

Think the board has got a lot more technical recently.

It’s almost all above me too.

I’ve heard most of the words ,but I mainly stick to the graph is heading up or down.

So I make this at least the 10 th 180 degree change in crude direction in the last 6 months, without any major changes in the underlying fundamentals.

Underneath things are all still the same.

At least until Iran decides if it will react.

Then ……

If you type into google bp earnings call transcript.

Seeking Alpha do one.

If I copied the link it would not work as it sees me having used my free access.

But if you go from google yourself you should be fine

Once upon a time there was a correlation between profits and sp.

Then these strange companies with no profits but huge market cap turned up.

Now there is no real link between profit and sp.

Market cap under £60 billion

Sum of the parts could be double that .

I believe if BP sold up everything and returned the cash to shareholders we would easily get £5, but that’s just my opinion

Https://www.reuters.com/markets/deals/aker-bp-open-more-ma-well-investment-plans-ceo-says-2024-10-30/

Last week, StanChart reported that global oil demand hit an all-time high of 103.79 million barrels per day (mb/d) in August, an upwards surprise of about 450 thousand barrels per day (kb/d) above their (pre-JODI data release) forecast. August becomes the third successive month in which a new all-time demand high has been set, with StanChart working out that demand growth clocked in at 1.32 mb/d in August.

Whereas this is lower demand growth than in all other post-pandemic Augusts, it can hardly be considered weak. StanChart has reported that the largest demand gains in August came from Korea (219 kb/d), Italy (185 kb/d), Saudi Arabia (117 kb/d), Türkey (99 kb/d) and Spain (88 kb/d). StanChart has now revised its 2024 global demand growth estimate upwards to 1.45 mb/d, thanks to the bigger-than-expected growth in August.

Https://oilprice.com/Latest-Energy-News/World-News/Unexpected-Crude-Product-Draws-Send-Oil-Prices-Up.html

Crude oil inventories in the United fell by 573,000 barrels for the week ending October 25, according to The American Petroleum Institute (API). Analysts had expected a build of 2.3 million barrels.

Gasoline inventories fell this week by 282,000 barrels, on top of last week’s 2.019-million-barrel decrease. As of last week, gasoline inventories are 3% below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories fell by 1.463 million barrels, on top of last week’s 1.478-million-barrel decrease. Distillates were already about 9% below the five-year average as of the week ending October 18, the latest EIA data shows

Jason31

Murray actually answered your question today.

He was asked if the would change plans if oil was $70

Not directly quoting him, but he really said.

We expect $70 oil for our plans and look at a higher price like $80 as bonus.

And just carry on as per plan if price above $70

Mark I think Harbour Energy may list in US very soon.

I believe it may be the first UK oil,company to list in US.

That will allow us to see any benefits from US listing.

I’m very unsure of the benefits to BP, as I still believe from comments on US oil sites BP is very unloved in US

If you google BP break even point for crude.

Article from April 2024 suggests BP break even is around $40 .

So yes .

Obviously the lower the oil price the lower the profit

Murray again said today we are looking for a strategic partner for BP Lightsource.

They said a couple of weeks ago looking for a strategic partner for off shore wind.

Just wondering if they are the same strategic partner in both cases, and also if they will be involved in anything else eg BP Bunge.

Also wondered without any real evidence if they might just be ADNOC who we have ties with and are often rumoured for closer ties.

Ex div 7 th Nov

WP

I think they thought it would put a floor under the sp.

That obviously did not work.

I have said it before it’s time to say

“ we think sp is cheap below £5 ( or in Charlie’s case £4.50).

We will buy back when sp below this target

Above this price we will target debt then additional div”

I’m sure the market would test them to see what happens .

But same old same old no longer ( if ever) working

Claire

If I am understanding the question correctly

BP Lightsource business model appears to be to cash in on a completed project periodically and use that to fund other projects.

I suspect it’s more complicated than that as most projects are funded on debt, so it’s probably a financial thing when someone wants to buy in ,and the time is right to pay off some debt.

“Rebrand to GP”. Galactic Petroleum.

Got to think big.

We have teamed up with N.A.S.A.

Dear Governments

First you went after the company we own and imposed a windfall tax.

Just because we made a profit.

Then you upped the tax on our dividends

Then you dropped the capital gains tax allowance

Next you want to tax us as we are now some sort of non working class entity.

Next let’s see you get blood from a stone

So many working class people got shares via company share schemes.

Apparently that’s all it takes to make you no longer working class.

Try telling that to the knobs at the Country Club as you roll up in Dell boys Reliant Robin.

But I’m one of you now!

“I suppose we will have to wait and see what the EIA come out with on inventories”

And even if positive for oil.

It will probably do little for BP sp.

Or so history tells us.

Hi Mark

It’s always a surprise when you hear this has still not totally gone away after more than 14 years.

And that’s without the payments which as you say have got years left yet.

One day those payments each year will have a new home .Us the shareholders .