Member Info for Nightpusher

Me or you.

I think it is a variety of reasons why exploration which naturally comes before production will never take off again regardless of changes to EPL and giving back tax rebates and tax offsets that make production worthwhile.

A complete lack of confidence that this government or any future government can be trusted

We are now in a low cost phase with price of oil which may last another 12/18 months so not worth the risk at the moment

Majors are now nearly all gone from the UK sector and capex problems might frighten companies like Harbour and Enquest

Norway proves that Oil majors can survive in a high tax environment with the right tax offsets but not sure that there are any more resevoirs like Brent and Forties left in Shetland basin.West of scotland has weather and tidal problems not found in the east.

In reality we are close to inflection point were the old tax system of 40% tax return from oil companies would bring in more revenue to HMRC than the present 78% due to massive loss of production.

Labour and conservatives must share the blame for this short sighted fiasco but the real loss are over 100,000 jobs that will disappear in Scotland which already has massive unemployment.

Gas exploration and production however might take off but forward predictions seem to show oversupply of LNG especially by 2028 so is not that encouraging.

According to list supplied by Reuters only European companies there at W/house meeting today are Shell,ENI and Repsol.

BP is not partnered with Shell in Dragon field in Venezuela but close to maritime border with trinidad.BP's interest in that region is the Cocuina field

I don't celebrate the majority sale of a business that generates nearly $1bn EBITDA per annum.

My sentiments entirely,its always bothered me that we have to sell a valuable asset while Murray blundered on with share buybacks that increased our already high actual debt.Difficult 2 quarters ahead of us for sure.No Santa rally to £5 that some hoped for but a real possibility of early New Year slide below £4 again.

Many thanks meoryou,will reread it a few times better understand her comments.Enjoy Belfast,i love County Down as my father was born in Carrickfergus before being dragged off to Argentina.

Decent update for HBR apart from slight increase in debt while continuing buybacks.Will let BP run for 6 more months to see if we can get to Spights £5 at xmas but really with oil at crossroads its either up $5 or down $5 depending how much Russian oil comes off market.

More worrying was actually heads up from USA supreme court ref delberations on legality of tariffs.Should they find against Trump then I guess we are in for a market correction.

Is the market blind to Mexico, Argentina and Andaman.

No NSS the market is not blind at all but none of these discoveries will affect the bottom line till they are in full production and move from eating up capex to increasing daily hydrocarbon production.Sentiment towards oil is slowly shifting in our favour but its just patience I hope.

That said a certain proportion of equity holders like myself do not like to see debt increase while share buyback schemes continue.

Same as our BP investment with debt flatlined but sharebuybacks at 3/4's of a billion each quarter which equates to 3 billion a year.

Why are you now asking questions that has all the answers in the article you read.

Greetings Charlie,sadly the article did not actually back up its claim concerning 17 billion sterling of Hybrid bonds and was hoping that someone on here might throw some light on the subject but sadly It did not transpire .Doubt many read article but I did read up on Hybrid bonds and their advantages and in most cases it seems they should be considered debt but not in all cases.Have emailed investor relations for some clarity on this subject but no reply is forthcoming so far.Regards Mike

Hybrid bond payments,total liabilities will drop by something like $5 billion,without taking into consideration that they are targeting debt pay down.

Me or you,help me out here with these Hybrid bond payments as you use the word liabilities and not net debt.I appreciate that our liability penalties to DOJ in USA is still over 7 million dollars but how much do we owe on Hybrid bonds and is the full sum on the net debt total or only some of it.As someone else pointed out here recently that Looney thought his finance director was a true star with figures and he is now COE.Not sure if you have vested in HBR as I see you on there frequently but I have built up a serious stake in them just as I start to wind down my shell stake.A stake I only moved into after Macondo and has certainly outperformed this baby so a slow switch from BP to HBR is under consideration as I monitor events in this difficult period that we have moved into.

And a seat in the House of Lords like Blair and Brown..!!!! JAO Adyor 😳

Stanley,hate to take the wind out of your sails but in the interests of accuracy which many posters can be slightly remiss,I am bound to imform you that neither Blair nor Brown accected a peerage to sit in the Lords.

Recently Blair was awarde a knighthood though Brown refused on but accepted a CH

Pretty scathing article in Telegraph concerning BP and more specifically BP net debt and how they record it compared to other oil companies.Does not make easy reading for a shareholder and perhaps explains why no offer has so far been forthcomig for the company and why the share is looking very weak and unfancied in comparison to its peers.

Headline is How BP's failed green bet left it drowning in debt if you cannot get through paywall ut there are waysto glimmer it free.

So I'm predicting that the share price will barely move and end the month at £2.20. Anyone else want to have a go?

Absolutely not,friday clubs seem always to have a detrimental effect on share price for some inexplicable reason.

Rachel Reeves is considering scrapping the windfall tax on North Sea oil and gas companies in a dash for growth.

The Chancellor is looking at whether to use the Budget to announce the end of the energy profits levy (EPL) early amid warnings that an effective tax rate of 78pc is deterring investment and stifling growth.

Best I can do Admeg

The Treasury has been consulting with North Sea operators to investigate how much they would be prepared to invest were the tax ended early.

Sir Keir Starmer has said he wants to “double down” on North Sea oil and gas extraction, and the Government is hoping its stance will convince energy majors to begin a new wave of investment.

Rachel Reeves is considering scrapping the windfall tax on North Sea oil and gas companies in a dash for growth.

Just another speculative article from that once great paper the DT,just like all the other scenarios they have been splashing away for 6 months now.

Nov 22 not far away.

RNS: Eight international oil companies operating in Iraqi Kurdistan reached agreements in principle.

Think Reuters got ahead of themselves here as DNO and Good old Genel have not agreed to anything until the matter of monies owed to them are sorted out so the words 'In principal' are meaningless.Genel are owed over $100 million and that represents over half their actual market cap.

BP however are not involved in these discusions at all but a salutory lesson to all companies that operate in Iraq that rules can change overnight so it will interesting to see how the new entity SOMO actually operate.Are you still vested Hawkeye?

It was sitting around the 115-120p mark just before the pipeline issues came along

Think you are forgetting the arbitration loss in December 2024 that knocked the share down nearly 30% high eighties to 60. Just hope the award to KRG has been paid or subtracted from receivables.There seems to have been a review of the result in 2025 which seems to have upheld KRG's award plus interest but can only find scant detail on the disastrous litigation.

No solid statement but probably too little too late for sure and certainly no new exploration wells.Below is a quote from DT.

But he is now considering watering down the policy by allowing “tie-backs” – new fields adjacent to existing ones – to be approved, according to The Sunday Times.

A source told the paper: “The question mark is can they do new licences in new fields if they run the infrastructure back to existing licensed blocks.”

Divi pay day today. What are your plans on re investing?

Straight into HBR and same with Shell divi next week and excellent HBR divi on friday will be reinvested into HBR.Only real question on my agenda is when to start reducing my decent shareholding in BP into HBR as well.Probably April 6th with new £20k ISA allowance if it still is that amount that we can annually invest which I doubt

Rosebank development has been suspended after regulators demanded new environmental approvals that account for the full carbon footprint of the oil and gas it would produce.

Are you referring to the judgement passed down In January 2025, a court in session in Edinburgh has ruled that the approval granted for two new Scottish oil and gas fields was unlawful, requiring their operators to seek fresh authorization from the UK government before production can commence.The case was brought by Greenpeace in 2024 and not by regulators.This is a suspension only and also includes the Jackdaw field with Shell.

The ruling, concerning the Rosebank and Jackdaw fields, was issued by the Court of Session in Edinburgh. In his judgmentin Jan 2025, the judge determined that a more comprehensive environmental assessment was necessary, specifically considering the climate impact of burning any fossil fuels extracted from the fields. While operations on both fields may continue during the reassessment process, no oil or gas can be extracted until new approval is obtained.

When a new assessment has been presented to the NSTA ,which i assume is part of DOE under secretary of state for energy with probable input from PM a decision will be made.This is the first time that the present labour government will be involved in Rosebank decision making as approval was given by previous government in Sept 2023

Shell seem confident to finish construction of a steel jacket for Jackdaw and Equinor/Ithaca have only delayed drilling of template and Ithaca energy,a partner in Rosebank are trading on a 4 year high just now so they seem confident enough.I will wait and see as its too close to call but the swing in sentiment against our glorious leader may have some effect.

Thanks me/you.I did actually go on the Aker website but never really got past Investor relations.

Good to see you on HBR site now and then.I have built a fair investment there and am sometimes tempted to sell 4000 BP shares not in my ISA and buy HBR but it unbalances my share portfolio.Certainly invest all BP and Shell divis over there but still in the red just now.

NSS even as recent as yesterday BP was quoted as owning 30%

We both know that is wrong.

While I value both your assertions,my research online through various sites only offers up 30% as BP's share and never 15% so best enlarge on what the actual figure is and how you come by this the figure.I am very curious.

Im a huge Argentina fan and its flavour of the month so some big investment going in which has to be great for us.

Greetings NSS22,not sure if you are aware but Harbour's partner in this project is Pan Americain Energy which is 50% owned by our other mutual interest BP.

We tried to sell it off for a song after Macondo but President Kirchner was not keen on the deal and supposedly vetoed it.She was at the time nationalising Repsols stake in YPF.

Doing very well now and surprised that the BP mob over the way not picked up on it but cannot copy and paste info that is not on the wires.