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Dean
"who thought we would be in this position..... it wasnt long ago i was glad we finally made it out of the 50's and decided to top on on several occasions. Now look! Im sure im not the only one whos used up all their cash, is stuck, and just has to wait it out..."
Pull the plug before the crash and salvage what you can. Take it in chin and move on. This was doomed months ago, a critical view would have helped to better understand the consortium relationship nature and the series of ridiculous RNSs and PR crashes.
"errare humanum est, sed perseverare diabolicum"
".....In short, more refining capacity is coming at a time of tepid demand growth. But if demand ends up disappointing in the next few years, the pressure on older refineries may be even more intense.".
The "Loon" knows his stuff, we are in safe hands.
I got robbed at the coffe shop.Lol just paid 5.60 for two double espresso. I almost told the guy at the counter that he should wear a balaclava. This SP needs to be in the 3.50 region soon I mean real soon. I think merchants, hospitality retail and co are thinking of recovering their losses somehow, they are out for blood, careful people.
Haven't seen teddy boy in a while....
We are in the middle of a restructuring phase, global events are not helping, as I posted earlier I hope that the narrow window re start gives the SP a small push upward enough to lock in some profits.
Has design freeze happened yet? Been away from the BB for a while.
" It could reach 3.18 - 3.20 today. However, can anything be considered for a long/medium- term investment in this kind of the stockmarket?"
Hoping to get a nice boost after the re opening, happy with a 3.50 / 4.00 range for all the post Covid19 share I bought. Else I will be communicating with my sweet half like tower control. Houston....
"''that it make sense to get top dollar now for a downstream that will loose money and depreciate moving forward. '' So, has INEOS bought a pileo' cr#p then?. They think they have done well on the deal and I don't think they spent £5 b on a whim."
They bought assets on what is their core business and where they know how to make good money.
If your bet and vision is that in the near future you will not find a toothpaste tube made in plastic ( just to render the idea) it all make sense. Your Petrochemical must be an operational excellence to be profitable and that's what Ineos is...and what we are not.
Shell's write offs ,Looney's madness is contagious so it seems.
" The Chinese should have all their assets seized in the country's its affected as compensation'' I totally agree and appoint you as the man in charge to do it. (Good luck with that idea)"
Guys are you 100% positive it's the Chinese to blame?
There is an interesting theory circulating. DYOR
Lastly about the BP PC sell off. I am a simple man so my first impression before dig down the figures is that it make sense to get top dollar now for a downstream that will loose money and depreciate moving forward. The switch to EVs and cut down in plastic production is a fact. In 10 years time Castrol will only be a logo on vintage t-shirts.
As for plastic my sweat half has already replaced half of the plastic in our household for recyclables and so have done her circle of friends and more and more people are doing the same. It's happening.
Same here Hoping to grab some more sub 3 before the general re start and eventually off load in August.
What we know now that we didn't when we hit 3.70 is very relevant. write offs and jobs lost in the process, the end of the Russian and Saudis output war has not delivered as per expectations,div cut is very real. PE ratio is different to cut it short.
On a positive note I was passing by a brand new BP petrol station in London and wow. Had to get in although I was cycling. Don't now if by design every station have 5 or 6 charging slots for EVs but they were all occupied.
Real confident on the future of BP
Jaker.
Added a decent stash back in March April more or less at same price and was able to make some reasonable profits May and June. My best buy was at 2.98 but I also bought at 3.30 . We are talking post Covid19 outbrake obviously, so if you ask me at 3.05 it's a go. I see value in the price as BP foundamentals are solid but it's difficult to say as the future has never been so uncertain. Recession, geopolitical turmoil, brexit, unemployment rates skyrocketing , companies in administration. Surely this will have an impact on crude oil demand and the recovery might be slow, very slow.
Touching wood as I type....
Interesting article.
https://cleantechnica.com/2020/06/25/bp-takes-18-billion-writedown-whats-up-with-that/amp/
Teddy's midday prayer for his IAG investment.
Only reason I am doing this is because you might fool one or two newbies with your wannabe "oilers testosterone" ego. The less of you are circulating the better we capture the informed sentiment and outlook for BP shares.
You have nothing to contribute to the process.
You discussing Looney policies it's like monkeys discussing how to get to Mars.
"RE: stamp dutyToday 12:24
Hi Paddyboy you have joined the party at the right time, there are a lot of us holding losses on this share, but it will catch up in a few weeks."
Rise next week, RNS soon ,planes in the sky soon.How many bags are you under?
Embarrassing tbh.
Oil oilers.. adapting. Petrolio
Ah ! Teddy . Let me guess another one in the red uh ?
IAG not treating you well? there is always
a tomorrow don't give up Teddy.. you watch!
"SP25 Jun 2020 22:24
On a positive note, we are going h to have a blue day tomorrow the Phoenix is going to rise from the ashes and fly high into the sky, you watch."
Aren't you tired of posting the same prayer every single day of your wannabe bully existence. Only a genius like you could chuck money on IAG right now.Say what? you want to discuss oil?.
Know your limits pantry boy.
On a real positive note they now also let people like you visit the Saudis Kingdom it's part of a
new program to diversify from an oil predominant economy ,perhaps when you recover from your losses you can visit the Aramco facilities and learn what oil looks like. Word of advice they are tollerant and respectful but keep your mouth shut because fools like yourself easily end up in real serious trouble.
Last one :)
TM I have been in Ryad.
Aka no confrontation at all.
Sorry you interpreted that way .
Nothing with TM or you on my side.
Look probably we have different timeframe expectations on the SP . I am happy for another 20 year run and retirement money.
In this scenario I see the price of oil slowly slowly decreasing. Many factors in play ,not only an increasing green economy.
When I mentioned Venezuela I was pointing out that diversification must be a priority in our era. The manipulation of oil prices collapsed a Nation go figure what it could do to a company like BP.
Now quick tour, Venezuela was doing extremely well during Chavez presidency, they nationalised everything and pushed away foreign investors. All good because they were sitting on an ocean of oil.
Problem was that with isolation they never mastered how to get the oil out cheap.
When prices dropped the revenues from sales were not covering the expenses for extraction. now, we are not talking 40 bucks per barrel but well above. The results are under your eyes.
Is Looney doing a good job for BP in restructuring the company and scrapping investment in the North sea ? ( Mind the 20 year timeframe). I think yes,they have run few numbers before making strong statement.
If your timeframe is 5 years I understand your frustration.Manage expectations, good profits are still achievable at current sp .
However If price of oil doubles don't expect the BP, Shell,Exxon share prices to double as well operational costs are the main driver for the SP and every profitable company in general.
Trade futures for a 1 to 1 profit /loss on oil price movement.
Or India, Australia. Those were colonies ot the largest empire in history.
No one is buying zillions right now that's why the price is low.
M
Main theme is that storage space for barrels is filling up very quickly and once it's full you have to pay the supplier for not delivering your oil( bought months before the delivery date). This is what's driving the price down right now. Another lockdown is out of the equation for any country.
As.
The dat you are looking for can be derived.