Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Halma 1983 Think I'll take my chance and stick,
Me too.not selling any ISA or market Master BP shares.Market has digested Shell Q2 results and is fully expectant that BP might follow suit,so moderate upside if BP buck the Shell trend.Total holding just shy of 23,000 shares and happy to take any fall which I am sure will be temporary as we close in on a fresh and probably cold winter ahead
I think better short term growth value at mo in other sectors like travel and banking .
Over the last couple of years I have considered moving some of my BP share portfolio into Lloyds but I am very glad I did not as Lloyds might pay a slightly higher divi but they are completely range bound in the bid forties even with the huge support of very much higher interest rates.Now perhaps a windfall tax on banks could be in the equation soon.
Very glad I have stayed with this very long haul that is BP since Pre Macondo.First tranche sells at £5.60 and I am certain we will get there within 6 months though I desisted in joining the Friday club of Xmas speculation
Https://www.reuters.com/business/energy/us-buys-3-mln-bbls-oil-stockpile-announces-plan-3-mln-more-2023-06-09/
Looks like the comerce dept plans to trickle oil into SPR at 3 million barrels a month at present WTI prices.Will see what happens if POO goes north in August.
Greetings Clued.No cut and paste but first para is copied virtually word for word to establish the start of SPR following Arab oil embargo after Arab/Israeli war of 73.
Second para is what I can dig off internet to establish if SPR has same significance now as 1975.I guess not but as USA imports and exports oil and certainly only produces around 12 million bpd of actual oil,you move into oil equivalent (gas and such like hydrocarbons) which takes it up around 20 million bpd.
Happy to be corrected if my research has errors from internet which is quite possible but all in all I dont think SPR is as important as in previous years.
December 22, 1975
In the aftermath of the oil crises, the United States established the SPR. President Ford set the SPR into motion when he signed the Energy Policy and Conservation Act (EPCA) on December 22, 1975. The legislation declared it to be U.S. policy to establish a reserve of up to one billion barrels of petroleum.
As the USA would seem to be just about self sufficient in oil or oil equivalent at around 21million bpd,it still imports but also exports as well,it would seem that the reserve no longer has the strategic importance that it once had and now seems to be more of a tool to interfere in keeping oil prices down at selected times.I am aware that Congress ordered the last sale of 26million barrels.I dont think (not sure)the president required congressional permission to sell off the vast amount that hit the market last year before the midterms so I am not sure that refilling it back to its original capacity will ever happen again unless oil drops at a spectacular rate and then its really just good business practice,something politicians are not normally good at.Time will tell of course.
But as a long term holder we have weathered such times before.
My sentiments entirely Theaky
As a long time holder im thinking it's maybe time to sell up and move on to pastures new.
My sentiments as well. Having survived Macondo,Bank crash and Covid,I think that £6 a share is not on the cards ever,the sentiment against oil companies is getting worse for sure.People on here talking about £10 a share a few weeks ago,good luck with that dream even an analyst at Barclays backed it up.Back in the real world £5.50 seems a good place to start unloading for me.
It looks hopeless to me - Why are you considering it?
Pfc has finally broken away from oil service to installation of renewables.It racked up a huge part of a 13 billion contract with Hitachi for offshore wind farms in Dutch German sector on 30th of March.This sent the share price soaring but continued intervention by shorters had a negative effect on the share price coupled with a larger loss than expected for full year results.Have bought a few but more of a watching brief just now
Thanks for the explanation on this subject of gaps,certainly have a better grasp now.Are you keeping an eye on PFC.Was thinking of utilising next Shell and BP divi into the company as price of these heavyweights is too high for divi reinvestment
https://www.reuters.com/business/energy/baghdad-krg-close-deal-resume-iraqs-northern-oil-exports-2023-04-01/
Suspect the cut has more to do with this headline that puts 1/2 a million barrels back on the market maybe as early as next week and might push Brent back to mid seventies a dollar so smart move to maintain momentum to $84 a barrel.
Ex divi 20th April,12c divi paid 19th May 2023
HM gov sold it's last remaining holding of BP shares in or around Oct 1987.
Sadly I disagree completely.The frozen dividend assets and the sale value of our shareholding in Rosneft are the assets of us shareholders and should be used to purchase assets that will replace those lost.BP did not start this war and I am unaware of any help that that BP received from anybody during the Macondo debacle.The Uk never thought to step up to the plate in July 2010 when BP actually nearly ran out of cash according to latter statements by Robert Dudley.Many countries that we operate in are now finding ways to squeeze us with windfall taxes and borrowing large sums of money to finance future projects are being hindered by ESG driven lenders.Correct that we have written down these assets but we can also take them back on the books as long as we repay any tax benefits that we received by writing down these assets.
For those who might be wringing their hands in disgust at my comments are you aware that my former company Schlumberger is continuing to do business in Russia,employing 10,000 people and making sheds load of money,picking up loads of new clients as Haliburton and Baker Hughes bailed out.Everyone quiet on this one.
Loads of Russian gas still pouring through Ukraine right now and the Ukrainians are still being paid transit fees.Strange war without doubt
what is the CGT rules to such transaction.
Pang bad news I am afraid.CGT will need to be paid on shares awarded as well as cash.Not sure exactly how it is applied but think it is determined by successful bid price.Perhaps someone out there can explain better.I hold a fair stake in Apache in US and they might be subject to a takeover in the next 18 months so I checked up on it.Sometimes you get a great price for your investment but its a huge hit for one fiscal year tax wise.
A few years back I bought some at 570 so I'm waiting for the 600s!
We have something in common ,my very first tranche of BP,pre Macondo,was £25,000 worth at £5.73,bought just after receiving my company profit sharing cheque,next one was £5.47,but have a breakpoint now of £4.64.Looking to start unload process around £5.15 but have a suspicion that once we get past £5 a share,a host of long time shareholders may have the same idea
Consider yourself fortunate Jedi,I have four contract notes from January 2014 showing buy price at £10.84.£10.72,£10.43 and £10.24.I certainly must have fallen for his and Goldsmith's long term strategy but doing ok now with this stock
You knew the final dividend would be 12 cents for 2022??? That makes it 18 cents for 2022,
That was all announced March 15th 2022.12.5% for a company awash with cash is hardly a big deal.All spent now and invested in the last 2 companies that I worked for Transocean(RIG) and Schlumberger(SLB) and they are flying now.
I am surprised nobody mentioned the fairly generous increase in dividend.?
Hi Tartine,missed it for sure 18 cent divi for 2022,did not catch sight of any mention of increase in 2023 and thankfully no special divi.If I wanted extra dividends I would buy back into GKP
Slightly off subject,any Interactive Investor users on here.New format looks like a disaster to me,cant even see daily share price movements on positions page.Is it going to be another Barclays/Smart investor exodous.Its free to move your shares on to another company.
https://genelenergy.com/wp-content/uploads/2020/09/Genel-Trading-and-Operations-Update-Jan-23-FINAL.pdf
Just to save you going to Genel website