Member Info for spights

Happy are you there.?

12 years ago 100 billion was mentioned
So now our worth?

Good Morning Jakers and Sharefall :)

https://www.livecharts.co.uk/MarketCharts/brent.php
Excellent replies and views.
Onwards and upwards.

There are others about merger
What are your views on this?

Lots of articles out there .But you need to subscribe
This is two years old

https://www.forbes.com/sites/johntough/2020/11/17/there-will-be-more-blood-exxon-should-acquire-bp/?sh=4c7cee9842b0

Topic to discuss

I think if you ask most people their shares are down.
Except for Bp and other oil companies

I think if you ask most peoples their shares are down.
Except for Bp and other oil companies

https://oilprice.com/Energy/Crude-Oil/Guyanas-Offshore-Drilling-Bonanza-Is-Just-Getting-Started.html

The Czech Republic is the latest country to levy windfall taxes on energy companies to scrape together funds to continue subsidizing high energy costs, Bloomberg reported on Friday.

Czech lawmakers approved Finance Minister Zbynek Stanjura’s proposal for a 60% windfall tax on the country’s main energy companies. The windfall tax, which government leaders have referred to as a “surcharge” is set to span the next three years, and looks to strip oil and gas from a healthy portion of its extraordinary profits thanks to recent hikes in oil and gas prices.

Stanjura protested that he “took no joy” in levying the windfall tax—just the latest in a series of similar taxes assessed in other countries. “If circumstances allow, I will be the first to propose abolishing it,” the Finance Minister said on Friday.

Those circumstances would likely be oil and gas prices—and oil and gas company profits—coming down.

For the oil companies, it is a lose-lose scenario. If oil and gas prices fall, the tax may be relaxed or even removed—but their profits will fall in lockstep with price movements. If oil and gas prices stay high, the government will strip 60% of its profits from it. Unipetrol, The Czech unit of Polish refinery PKN, said the new tax would be painful, dampening investor appetite and drying up funds it needs for upgrades.

Energy utility Energeticky a Prumyslovy Holding, or EPH, told media on Friday that it will move its commodities trading business to another country to skirt the new tax.

The tax should send an extra $3.5 billion into government coffers next year, according to Finance Ministry calculations provided by Bloomberg, which will be used to soften the blow of the cost of living crisis by subsidizing electricity and natural gas bills.

https://www.livecharts.co.uk/MarketCharts/brent.php
This week onwards and upwards
Plus dividend

;)

BP plc have declared a new dividend:

Company BP plc (BP.)
Stock Exchange London Stock Exchange (United Kingdom)
Amount 6.01c
Dividend Type Quarterly
Ex-Dividend Date Thursday November 10 2022
Pay Date Friday December 16 2022
Your Holding 1 share change this
Your Payment: $0.06 (approx £0.05)

:))))))
Maybe building a stake
( Dreaming :))))))))))

Crude oil prices were on the rise early on Friday morning on continuing fears that the oil markets remain tight with the G7 agreeing on a fixed price capping mechanism on Russian crude.

WTI rose nearly 5% by 10:30 a.m., as the Strategic Petroleum Reserve releases have neared their end. Throughout the SPR release period, which spanned from April to now releasing about 180 million barrels, commercial crude oil inventories rose between 20 and 30 million barrels. With the SPR releases now in the rearview, the market is fearing a substantial decrease in U.S. oil inventories. WTI had risen to $92.37 by that time.

The dollar also fell by 1.6% on Friday, bolstering the price for WTI as it becomes significantly more attractive for those who hold other currencies.

U.S. and its G7 allies’ sanctions on Russian oil go into effect on December 5, which is largely expected to curtail Russia’s oil exports by at least some amount. The sanctions on Russia’s crude oil, the end to the SPR releases, the falling dollar, and OPEC+’s expected production cuts are then colliding with stubbornly flat U.S. oil production, creating the perfect storm for high oil prices.

U.S. crude oil production has remained essentially flat since mid-April, when it was 11.9 million bpd, according to the Energy Information Administration.

"The increasingly gloomy macro outlook is providing some strong headwinds to the oil market and without the supply cuts announced by OPEC+ back in October, we would likely have been trading at much lower levels," said Warren Patterson, ING's Head of Commodities Strategy told Reuters on Friday.

meoryou have a great weekend. sending you very positive vibes £6

Onwards and upwards:)))))))))

ibya Enjoys the Sunshine. The recently appointed head of Libya’s National Oil Corporation said that the North African country’s production levels have reached 1.2 million b/d, doubling from the depressed output rates seen earlier this year, claiming that port blockades are a thing of the past.

US Drillers Seek Methane Exemptions. US drillers’ associations have asked the Environmental Protection Agency to exclude smaller oil wells producing less than 6 barrels per day from the upcoming rules requiring oilmen to find and plug leaks of methane, citing a lack of funds and capacity to comply.

Germany Expedites Coal Phase-out. The German government ratified a draft law that would phase out coal-fired power plants in the key industrial region of North Rhine-Westphalia by 2030, some 8 years earlier than previously anticipated despite several instances of reactivated coal plants this year.

Dutch Court Decision Jeopardizes Carbon Capture. The Netherlands’ highest court ruled this week that Europe’s largest planned carbon capture and storage project in Rotterdam that could reduce the country’s CO2 emissions by 2% might be halted for not meeting EU environmental guidelines.

Cash Bribe Bonanza in West Africa. A UK prosecution case against global oil trader Glencore found that more than $28 million was paid by company representatives in cash bribes to officials in Western Africa between 2011 and 2016 to secure preferential access to oil.

Majors Brimming with Excitement Ahead of Brazil Auction. Brazil’s upcoming licensing round for 11 offshore pre-salt fields to be operated under a PSA elicited a strong response from oil majors, with the country’s regulator ANP clearing BP (NYSE:BP), Equinor (NYSE:E), TotalEnergies (NYSE,CVX), Chevron (NYSE:CVX), Petrobras (NYSE:PBR) and Shell (LON:SHEL) for operator’s status.

Friday, November 4th, 2022

Jerome Powell’s much-anticipated press conference this week has curbed the enthusiasm of those that expected a dovish turn from the Fed after he said the terminal rate could be higher than previously expected. A prospective recession in the US does not bode well for oil demand, even if it happens alongside a potential opening up of China after years of self-imposed restrictions. Oil prices were up on Friday morning, aided by a weakening dollar and more rumors of China easing its zero-Covid policy.

China Mulls Softening Zero-COVID. In what might become one of the biggest bullish factors for oil in the coming months, China is looking to alleviate strict zero-COVID aviation rules which up until now temporarily banned airlines if their flights carried infected passengers.

OPEC Warns of Future Energy Crises. Confronted with annual production decline rates of 4-5%, OPEC Secretary General Haitham al Ghais called on the global oil industry to invest in new oil projects so as not to sow the seeds of future energy crises as oil is still at least a decade from peaking.

Canada Muscles Out Chinese Metals Firms. The Canadian government mandated that three Chinese companies divest their investments in Canadian minerals firms, citing national security concerns, provoking the ire of Beijing which claimed Ottawa is damaging global supply chains.

Total Sues Greenpeace for Libel. French energy company TotalEnergies (NYSE:TTE) announced it would take legal action against Greenpeace, claiming the environmental group’s 2019 carbon emissions report that accused it of under-reporting emissions is highly dubious and damages its reputation.

Not all Trading is Profitable. Despite UK oil major Shell (LON:SHEL) reporting its second-largest quarterly profit of $9.45 billion recently, its LNG trading unit reportedly amassed a $1 billion loss over the same period after a wrong bet on the difference between European and Asian gas benchmarks.

US-UAE Tandem Signs $100 Billion Clean Energy Deal. The United States and the United Arab Emirates have agreed to spend 100 billion on renewable energy projects by 2035 with the aim of adding 100 GW of capacity globally, mending ties after the OPEC+ production cut fallout.

Uganda Expects First Oil in 2025. Uganda expects first oil production from oil fields operated by TotalEnergies (NYSE:TTE) in the country’s west by April 2025. The country is confident it will secure funding, likely from China, to construct a pipeline connecting the fields to Tanzania’s coast.

Venezuelan Oil Production Bounces Back. According to media reports, Venezuela’s crude output last month rose by more than 100,000 b/d last month and tallied 765,000 b/d, with the increase mostly driven by deliveries of Iranian condensate, a much-needed diluent.

Jakers have a fantastic weekend
You will get you £5.50 and more
Onwards and upwards to £6
:)))))))))))))))

Well done