Good post…..24 Aug 2021 20:30
There is life in oil yet, nothing like a storm or two in the gulf to make people rethink prospects for recovering demand. Are we muscling through the fourth and fifth waves of covid regardless? What is the problem with Looney, balancing the competing pressures and steering a course. To reduce debt, deliver surplus cash to buy back stock, progress the dividend, divest some old assets, invest in massive early stage renewables developments, exploit the links between stores, fuel retail and EV charging, while continuing to profit from meeting demand for oil and gas. What would you do different, noting that it is our job to believe in management delivering shareholder value (or not) rather than run the company ourselves? People are discontent with BP because it is slowly going to improve the share price while delivering excellent yield for long term shareholders, it is not a get rich quick investment.
Courtesy of maritime on ADVN